Assisted Living Technologies Market Growth and Trends: Key Insights into Market Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Major Market Drivers Are Expected to Boost the Growth Potential of the Assisted Living Technologies Market?
The rising necessity for custom-tailored services for the elderly is projected to spur the development of the assisted living technology industry. Personalized senior care services include numerous elements that aim to improve the living conditions of seniors. The demand for these individualized services is growing, driven by the rising number of older adults, their distinctive needs, and the desire for quality care. Technologies for assisted living allow for the distant observation of senior health variables like vital signs, activity levels, medication adherence, and fall detection. These tools aid the elderly in sticking to their medication routines, avoiding mistakes, and enhancing overall health outcomes. To illustrate, data from the Australian Institute of Health and Welfare, a government agency based in Australia, showed a 3.1% rise over the last five years (from 172,000 on June 30, 2017 to 178,000 on June 30, 2022) in the number of individuals aged 65 and above residing in permanent residential aged care as of June 2023. Thus, the escalating requirement for personalized senior care services fuels the expansion of the assisted living technology market.
Get Your Free Sample Report Now – Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=15515&type=smp
How Has the Assisted Living Technologies Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?
The market size for assisted living technologies has experienced swift expansion in the recent past. Expected to rise from $7.82 billion in 2024 to $9.13 billion in 2025, the market will see a compound annual growth rate (CAGR) of 16.8%. Factors that led to the growth during the historic period include an aging population, increased instances of chronic diseases, escalating healthcare costs, better internet connectivity, heightened awareness of the advantages of home healthcare, and encouraging governmental policies and incentives.
There is an anticipated brisk expansion in the market for assisted living technologies in the coming years. The market size is projected to escalate to $16.74 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 16.4%. Factors propelling this growth for the forecast period include the rise in intelligent home integration, an increase in elderly population adept with technology, booming telehealth services, burgeoning personalized care solutions, a growing preference for independent living, and regulatory backing for digital health. The forthcoming period is expected to see trends such as a surge in AI integration for tailor-made care, broadening use of IoT devices for instantaneous health tracking, expansion of telehealth services, advances in wearable health technology, the advent of voice-activated assistants, and strengthening of cybersecurity measures.
You can Directly Purchase the Report Here:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=15515
What Are the Key Market Innovations in theAssisted Living Technologies Market Over the Coming Years?
Significant players in the assisted living technologies market are creating multi-sensor remote patient monitoring platforms for more accessible, continuous remote supervision of essential health signs, enhancing patient care. Such a multi-sensor remote patient monitoring platform lets healthcare practitioners closely observe patients’ health and provide more personalized care, resulting in better patient results and efficient management of chronic diseases. For example, in January 2024, Blue Spark Technologies, a health technology provider based in the US, unveiled VitalTraq, a multi-sensor remote patient tracking platform. This platform uses remote photoplethysmography (rPPG), a non-contact technology that measures heart rate, variation, blood pressure, and respiration rate with a rapid 30- to 60-second facial scan. VitalTraq merges Blue Spark’s FDA-cleared TempTraq, a Bluetooth-enabled patch that tracks patient temperature and alerts patients about temperature increases in real time. The combination of non-contact scanning and a wearable temperature sensor provide a comprehensive remote monitoring solution.
Who Are the Top Companies Driving Innovation and Growth in theAssisted Living Technologies Market?
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
Order Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/assisted-living-technologies-global-market-report
Which Key Market Segments Comprise the Assisted Living Technologies Market and Drive Its Revenue Growth?
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
Gain Exclusive Market Insights—Customize Your Research Report Today for Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=15515&type=smp
Which Regions Are Emerging as Leaders 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.
Browse Through More Reports Similar to the Global Assisted Living Technologies Market 2025, By The Business Research Company:
Assistive Technologies For Visually Impaired Global Market Report 2024
Advanced Packaging Technologies Global Market Report 2024
Blockchain Technologies Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/blockchain-technologies-global-market-report
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
