AI in Elderly Care Market
Global AI in Elderly Care Market reached US$ 34.39 billion in 2023 and is expected to reach US$ 209.19 billion by 2031, growing with a CAGR of 25.32% during the forecast period 2024-2031.
The AI in elderly care market report provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Leveraging a combination of qualitative and quantitative research methods, the company offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.
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Artificial Intelligence is revolutionizing elderly care by enhancing safety, personalized health monitoring, and social engagement. From AI-powered fall detection and remote health monitoring to virtual companions that reduce loneliness, technology is improving the quality of life for seniors.
Forecast Growth Projected:
The Global AI in elderly care Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
List of the Key Players in the AI in elderly care Market:
IBM Corporation, InteliCare, CarePredict, Intuition Robotics, Aiva Health, K4connect, UBTECH ROBOTICS CORP LTD, RapidInnovation, Koninklijke Philips N.V. and Siemens AG.
Industry Development:
In July 2023, TrueCare leveraged AI-driven remote patient monitoring (RPM) to improve blood pressure management for elderly patients with persistent hypertension, integrating Rimidi’s advanced technology.
In March 2023, Health Corporation introduced its Care Transitions Program, designed to support discharge plans and reduce hospital readmissions among older adults.
In January 2023, Baracoda launched BHeart, an innovative health tracker with an unlimited battery. Combining AI with energy-harvesting technology, BHeart enables continuous, maintenance-free monitoring of vital health metrics, promoting proactive elderly care.
Research Methodology
Our research methodology combines both qualitative and quantitative approaches to provide you with a thorough market analysis. We begin by gathering data from trusted industry reports and databases (secondary research), followed by primary research through surveys and interviews with key experts. We then apply advanced statistical tools to analyze the data, uncover trends, and assess market dynamics. Additionally, we use market segmentation and Porter’s Five Forces analysis to evaluate competition. This approach ensures that the insights we provide are reliable, actionable, and tailored to support your decision-making process.
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Segment Covered in the AI in elderly care Market:
By Technology: Machine Learning, Natural Language Processing (NLP), Robotics, Computer Vision, Others
By Application: Fall Detection and Prevention, Medication Management, Remote Health Monitoring, Social Engagement and Companion AI, Cognitive Stimulation and Brain Training
By End-User: Home Care Settings, Assisted Living Facilities, Nursing Homes and Long-Term Care Centers, Hospitals and Healthcare Institutions, Sustainability Analysis, Environmental Analysis, Economic Analysis, Governance Analysis
This Report Covers:
✔ Go-to-market Strategy.
✔ Neutral perspective on the market performance.
✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, Market Access, and other significant analysis, as well as development status.
✔Customized regional/country reports as per request and country level analysis.
✔ Potential & niche segments and regions exhibiting promising growth covered.
✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).
Regional Analysis for AI in elderly care Market:
⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Benefits of the Report:
➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Top-down and bottom-up approach for regional analysis
➡ Porter’s five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market
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Frequently asked questions:
➠ What is the global sales value, production value, consumption value, import and export of AI in elderly care market?
➠ Who are the global key manufacturers of the AI in elderly care Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?
➠ What are the AI in elderly care market opportunities and threats faced by the vendors in the global AI in elderly care Industry?
➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?
➠ What focused approach and constraints are holding the AI in elderly care market?
➠ What are the different sales, marketing, and distribution channels in the global industry?
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DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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