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Rising Demand For Personalized Senior Care Fuels The Assisted Living Technology Market Growth: A Significant Driver Propelling The Assisted Living Technologies Market In 2025
Assisted Living Technologies Market
What Is the Assisted Living Technologies Market Size and Projected Growth Rate?
The assisted living technologies market has seen rapid expansion, expected to grow from $7.82 billion in 2024 to $9.13 billion in 2025 at a CAGR of 16.8%, supported by rising chronic conditions, aging populations, better internet access, increasing home healthcare awareness, and favorable government incentives.
The assisted living technologies market is set for rapid growth, hitting $16.74 billion by 2029 at a CAGR of 16.4%, fueled by smart home tech, aging tech-savvy populations, personalized care, and telehealth expansion; trends involve AI for tailored care, wearable integration, cybersecurity focus, and real-time monitoring.
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What Are the Major Segments in the Assisted Living Technologies Market?
The assisted living technologies market covered in this report is segmented -
1) By Component: Hardware, Software And Apps, Services
2) By Facility Type: Adult Family Home, Community-Based Residential Facility, Residential Care Apartment Complex
3) By End-User: Assisted Living Facilities, Nursing Homes, Rehabilitation Centers, Home Care Settings, Hospices, Other End-Users
Subsegments:
1) By Hardware: Wearable Devices (Smartwatches, Health Trackers), Sensors (Motion, Pressure, Temperature), Home Automation Systems (Smart Lights, Smart Thermostats), Monitoring Devices (Fall Detection Systems, Emergency Alert Systems)
2) By Software And Apps: Health Monitoring Apps, Remote Patient Monitoring Software, Medication Management Software, Communication And Coordination Software, Emergency Response Apps
3) By Services: Remote Monitoring Services, Personal Care Assistance, Telehealth Services, Maintenance And Support Services, Data Analytics And Reporting Services
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What Are The Driving Assisted Living Technologies Market Evolution?
Increased demand for personalized senior care is also expected to grow the assisted living technology market. Technology enables real-time health monitoring, medication adherence, and fall prevention among elderly individuals. In June 2023, the Australian Institute of Health and Welfare noted a 3.1% increase in residents aged 65+ in aged care facilities between 2017 and 2022. Thus, demand for specialized senior services is fueling the assisted living technology market.
Which Firms Dominate The Assisted Living Technologies Market Segments?
Major companies operating in the assisted living technologies market are Samsung Electronics Co. Ltd., Johnson & Johnson, Siemens AG, General Electric Company, Panasonic Corporation, Honeywell International Inc., Medtronic plc, ABB Ltd., Koninklijke Philips N.V., Legrand SA, Resideo Technologies Inc., ADT Inc., Tunstall Group Holdings Limited, WellSky, Lively, Essence Group, Possum Limited, GrandCare Systems, Vitaphone GmbH, Tynetec Limited, 2PCS Solutions GmbH, Assisted Living Technologies Inc., Bay Alarm Medical, Gnomon Informatics S.A., Independa Inc., Alcove
What Assisted Living Technologies Market Trends Are Gaining Traction Across Different Segments?
Companies in the assisted living technologies market are developing multi-sensor remote patient monitoring platforms for continuous monitoring of patients' health. For instance, in January 2024, Blue Spark Technologies launched VitalTraq, a platform that uses contactless photoplethysmography (rPPG) to measure heart rate, blood pressure, and respiration, combining it with a wearable temperature sensor for comprehensive remote monitoring.
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Which Is The Largest Region In The Assisted Living Technologies Market?
North America was the largest region in the assisted living technologies market in 2023. The regions covered in the assisted living technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Assisted Living Technologies Market?
2. What is the CAGR expected in the Assisted Living Technologies Market?
3. What Are the Key Innovations Transforming the Assisted Living Technologies Industry?
4. Which Region Is Leading the Assisted Living Technologies Market?
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