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Impact Of Growing Elderly Population On Advancements In Aging And Elderly Care Driver: A Major Catalyst in the Evolution of the Artificial Intelligence (AI) In Aging And Elderly Care Market in 2025
Artificial Intelligence AI In Aging And Elderly Care
The escalating number of elderly individuals is projected to fuel advancements in the artificial intelligence (AI) sector of aging and elderly care. This demographic, made up of people aged 60 or 65 years and above, requires particular attention and services due to health and lifestyle issues brought about by aging. The expansion in elderly population is due to lengthening life spans, largely thanks to improvements in healthcare, and falling birth rates, which consequently lowers the younger individuals' representation. AI is revolutionizing aging and elderly care by optimizing healthcare, enhancing ease of access, and fostering autonomy among the elderly. For instance, a document from the Population Reference Bureau, a non-profit organization based in the US, states that by January 2024, the number of American citizens aged 65 or more will elevate from 58 million in 2022 to 82 million by 2050, indicating a 47% upturn. Consequently, the representation of this age category within the total population of the U.S. will expand from 17% to 23% during this period. Thus, the mounting elderly population is a key contributor to the expansion of the AI in aging and elderly care market.
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What Is the projected market size and growth rate for the artificial intelligence (ai) in aging and elderly care market?
The market size for artificial intelligence (AI) in the realm of elderly and aging care has witnessed significant growth recently, ballooning from $35.22 billion in 2024 to an impressive $43.76 billion in 2025, reflecting a compound annual growth rate (CAGR) of 24.25%. Factors that have contributed to this notable increase during this historical phase include: a surge in the aging population, a heightened occurrence of chronic illnesses, a growing demand for autonomous living solutions, increased development of AI-powered gadgets, intensifying shortages in caregiving, and a rising investment in AI research and development aimed at geriatric care.
The market for artificial intelligence (AI) in old age and elderly care is forecasted to experience astronomical growth in the subsequent years. It is projected to increase to a whopping $122.88 billion by 2029, with a compound annual growth rate (CAGR) of 22.54%. Factors contributing to this surge during the prediction period include the rising incorporation of intelligent home systems for elder care, surge in usage of robotic caregivers, mounting requirement for tailor-made healthcare solutions, growth of telehealth and remote monitoring capabilities, and a surge in funding for AI-based elderly wellness initiatives. Key trends predicted for this period include progression in AI-enabled aiding tech, integration of smart homes with AI, advances in robotics, cloud computing, natural language processing, healthcare technology, and the creation of sophisticated AI algorithms for predictive health analytics.
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What new trends are reshaping the artificial intelligence (ai) in aging and elderly care market and its opportunities?
Major players in the artificial intelligence (AI) in elderly and aging care market are prioritizing the creation of innovative solutions such as AI-empowered virtual caregivers, with a view to delivering personalized care, enhancing surveillance abilities, and elevating the overall quality of life for seniors. A digital assistant powered by AI, a virtual caregiver, helps in health tracking, reminders for medications, providing companionship and emergency response, chiefly helping older people maintain their autonomy and wellbeing. For example, Electronic Caregiver Inc., a company from the US dealing in medical equipment, announced the launch of Addison Care+ in the AWS marketplace in November 2024. Addison Care+ is a sophisticated virtual caregiver driven by AI that transforms senior care by improving health management, engagement, and independence for seniors and individuals suffering from chronic problems. It offers round-the-clock monitoring, early detection of health issues, and wide-ranging insights into care such as managing medication and responding to emergencies. Integrating AI-based telecare services, it eases countrywide deployment, providing caregivers with proactive tools for health management of clients and enhancing the delivery of care.
What major market segments define the scope and growth 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.
Which key market leaders are driving the artificial intelligence (ai) in aging and elderly care industry growth?
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.
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What Is Covered In The Artificial Intelligence (AI) In Aging And Elderly Care Global Market Report?
•Market Size Forecast: Examine the artificial intelligence (ai) in aging and elderly care market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the artificial intelligence (ai) in aging and elderly care market for a structured understanding.
•Key Players Overview: Analyze major players in the artificial intelligence (ai) in aging and elderly care market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the artificial intelligence (ai) in aging and elderly care market.
•Segment Contributions: Evaluate how different segments drive overall growth in the artificial intelligence (ai) in aging and elderly care market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the artificial intelligence (ai) in aging and elderly care market.
•Industry Challenges: Identify potential risks and obstacles affecting the artificial intelligence (ai) in aging and elderly care market.
•Competitive Landscape: Review strategic developments in the artificial intelligence (ai) in aging and elderly care market, including expansions, agreements, and new product launches.
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