Press release
Transforming the Artificial Intelligence (AI) In Aging And Elderly Care Market in 2025: Impact Of Growing Elderly Population On Advancements In Aging And Elderly Care
Artificial Intelligence (AI) In Aging And Elderly Care Market Size
The market size of AI in the field of aging and elderly care has rapidly expanded in the past few years. The growth is projected to escalate from $35.22 billion in 2024 to $43.76 billion in 2025, reflecting a compound annual growth rate (CAGR) of 24.25%. Several factors have contributed to this growth during the historic period, which include a surge in the elderly population, an increase in chronic disease cases, growing demand for autonomous living solutions, enhancement in the creation of AI-enabled devices, rising caregiver scarcity, and heightened investment in AI research and development with a focus on geriatrics.
The market for artificial intelligence (AI) within the realm of elderly care is projected to experience massive expansion in the upcoming years, reaching a valuation of $122.88 billion by 2029, with a compound annual growth rate (CAGR) of 22.54%. This notable upsurge over the forecast period can be traced back to the escalating incorporation of intelligent home systems for senior care, a steady rise in acceptance of robotic nursing aides, an increasing call for tailored healthcare arrangements, widespread use of telehealth and remote patient monitoring systems, and soaring investments in wellness initiatives for the elderly empowered by AI. Predominant trends expected during this period are progress in AI-empowered assistive technologies, the convergence of AI with smart homes, breakthroughs in robotics and cloud computing, enhancements in natural language processing and healthcare technology, along with the evolution of superior AI algorithms for prognostic health analytics.
What Factors Are Fueling Growth in the Artificial Intelligence (AI) In Aging And Elderly Care Market?
The surge in the senior population is anticipated to fuel the expansion of the artificial intelligence (AI) in aging and elderly care market in the future. The senior demographic involves individuals aged 60 or 65 and up, who require specialized care and services due to health issues and lifestyle complications associated with aging. The augmenting senior population is a result of elongated lifespan owing to medical advancements and a decline in birth rates, which decreases the ratio of younger individuals in the society. Artificial intelligence (AI) is modernizing elderly care by enhancing healthcare, increasing accessibility, and fostering independence for the elderly community. For example, in January 2024, a report by the Population Reference Bureau, a non-profit organization based in the US, projected that the count of Americans aged 65 and up will surge from 58 million in 2022 to 82 million by 2050, indicating a rise of 47%. As such, this demographic's share of the overall U.S. population is set to increase from 17% to 23% during this span. Thus, the surge in elderly population is stimulating the growth of the artificial intelligence (AI) in aging and elderly care market.
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Which Leading Companies Are Shaping the Growth of the Artificial Intelligence (AI) In Aging And Elderly Care Market?
Major companies operating in the artificial intelligence (AI) in aging and elderly care market are Amazon.com Inc., Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Intel Corporation, General Electric Company, International Business Machines Corporation, Oracle Corporation, Medtronic plc, NVIDIA Corporation, Siemens Healthineers AG, Koninklijke Philips N.V., AARP Services Inc., Suki AI Inc., AiCure LLC, Sensi.AI, Orbita Inc., Sensely Inc., CarePredict Inc., Cognivue Corporation, Reemo Health Inc., Canary Health Technologies Inc., Somatix Inc.
What Are the Major Trends Shaping the Artificial Intelligence (AI) In Aging And Elderly Care Market?
Major firms in the artificial intelligence (AI) in aging and elderly care sector are prioritizing the creation of novel technologies such as AI-enabled virtual caregivers. These advances aim to offer tailored care services, boost surveillance capabilities, and heighten the quality of life for the aging population. An AI virtual caregiver serves as an intelligent digital aide that assists with health monitoring, medication reminders, companionship, and emergency responses. This innovation aids seniors in preserving their independence and wellness. For example, Electronic Caregiver Inc., a medical equipment provider from the United States, debuted Addison Care+ on the AWS marketplace in November 2024. Addison Care+ is a sophisticated AI-assisted virtual caregiver designed to transform elderly care by improving health management, engagement, and independence for elderly individuals and those suffering from chronic diseases. It provides round-the-clock activity tracking, early detection of health problems, and a wide array of care insights including medication management and emergency response. Coupled with AI-powered telecare services, this innovation facilitates nationwide deployment, assisting caregivers by equipping them with anticipatory tools for overseeing client health and refining the delivery of care.
What Are the Key Segments of the Artificial Intelligence (AI) In Aging And Elderly Care Market?
The artificial intelligence (AI) in aging and elderly care market covered in this report is segmented -
1) By Type: Natural Language Processing (NLP) Systems, Robotics And Robotic Assistance, Smart Home Devices And IoT Solutions, Machine Learning And Predictive Analytics, Virtual Health Assistants
2) By Technology: Wearable Devices, Smart Home Systems, Mobile Apps, Cloud Computing, Internet Of Things (IoT)
3) By Applications: Fall Detection And Prevention, Medication Management, Remote Health Monitoring, Social Engagement And Companion AI, Cognitive Stimulation And Brain Training
4) By End User: Home Care Settings, Assisted Living Facilities, Nursing Homes And Long-Term Care Centers, Hospitals And Healthcare Institutions
Subsegments:
1) By Natural Language Processing (NLP) Systems: Voice-Activated Assistants, AI-Powered Speech Recognition Systems, NLP for Cognitive Health Monitoring
2) By Robotics And Robotic Assistance: Elderly Care Robots, Robotic Mobility Assistance Devices, Robotic Companions For Seniors
3) By Smart Home Devices And IoT Solutions: Smart Sensors (Fall Detection, Monitoring), AI-Enabled Smart Home Automation Systems, Wearable IoT Devices For Health Monitoring
4) By Machine Learning And Predictive Analytics: AI-Based Health Risk Prediction Models, Machine Learning For Personalized Care Plans, Predictive Analytics For Medication Management
5) By Virtual Health Assistants: AI-Powered Virtual Care Assistants, Telemedicine Virtual Assistants, Virtual Health Coaching And Support Systems
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Which Region Dominates the Artificial Intelligence (AI) In Aging And Elderly Care Market?
North America was the largest region in the artificial intelligence (AI) in aging and elderly care market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in aging and elderly care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Artificial Intelligence (AI) In Aging And Elderly Care Global Market Report?
- Market Size Analysis: Analyze the artificial intelligence (ai) in aging and elderly care Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the artificial intelligence (ai) in aging and elderly care Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall artificial intelligence (ai) in aging and elderly care market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the artificial intelligence (ai) in aging and elderly care market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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