PUBLISHER: The Business Research Company | PRODUCT CODE: 1825981
PUBLISHER: The Business Research Company | PRODUCT CODE: 1825981
Artificial intelligence (AI) in aging and elderly care involves the use of AI technologies to improve the health, well-being, and quality of life of older individuals. This includes AI-driven solutions such as predictive analytics, machine learning, robotics, and smart devices, which help address the challenges associated with aging. AI supports health monitoring through wearable devices and remote patient systems, collecting and analyzing real-time data to ensure timely interventions.
The main types of AI in aging and elderly care include natural language processing (NLP) systems, robotics and robotic assistance, smart home devices and IoT solutions, machine learning and predictive analytics, and virtual health assistants. NLP systems allow computers to understand and interpret human language, enabling smooth communication between humans and machines. In elderly care, these systems power virtual assistants and chatbots that help seniors with daily activities, provide companionship, and offer essential information. By understanding spoken or written language, NLP systems enhance accessibility and user experience for the elderly. Various technologies, such as wearable devices, smart home systems, mobile apps, cloud computing, and the Internet of Things (IoT), are used to support elderly individuals. Applications include fall detection and prevention, medication management, remote health monitoring, social engagement and companion AI, and cognitive stimulation and brain training. These solutions are employed in home care settings, assisted living facilities, nursing homes, long-term care centers, and hospitals.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sharp rise in U.S. tariffs and the resulting trade tensions in spring 2025 are having a significant impact on the healthcare sector, especially in the supply of essential medical devices, diagnostic equipment, and pharmaceuticals. Hospitals and healthcare providers are grappling with higher costs for imported surgical tools, imaging systems, and consumables like syringes and catheters, many of which have limited domestic substitutes. These escalating expenses are putting pressure on healthcare budgets, prompting some providers to delay equipment upgrades or pass increased costs on to patients. Furthermore, tariffs on raw materials and components are disrupting the manufacturing of vital drugs and devices, leading to supply chain delays. In response, the industry is adopting diversified sourcing strategies, expanding local production where feasible, and pushing for tariff exemptions on critical medical products.
The artificial intelligence (AI) in aging and elderly care market research report is one of a series of new reports from The Business Research Company that provides artificial intelligence (AI) in aging and elderly care market statistics, including the artificial intelligence (AI) in aging and elderly care industry global market size, regional shares, competitors with the artificial intelligence (AI) in aging and elderly care market share, detailed artificial intelligence (AI) in aging and elderly care market segments, market trends, and opportunities, and any further data you may need to thrive in the artificial intelligence (AI) in aging and elderly care industry. This artificial intelligence (AI) in aging and elderly care market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The artificial intelligence (AI) in aging and elderly care market size has grown exponentially in recent years. It will grow from $43.76 billion in 2024 to $54.36 billion in 2025 at a compound annual growth rate (CAGR) of 24.2%. The growth in the historic period can be attributed to an increase in the elderly population, a rise in the prevalence of chronic diseases, growth in demand for independent living solutions, a rise in the development of AI-enabled devices, escalating caregiver shortages, and an increase in investment in geriatric-focused AI research and development.
The artificial intelligence (AI) in aging and elderly care market size is expected to see exponential growth in the next few years. It will grow to $128.61 billion in 2029 at a compound annual growth rate (CAGR) of 24.0%. The growth in the forecast period can be attributed to increasing integration of smart home systems for elderly care, growing adoption of robotic caregivers, rising demand for personalized healthcare solutions, expanding telehealth and remote monitoring applications, and escalating investments in AI-driven elderly wellness programs. Major trends in the forecast period include advancements in AI-powered assistive technologies, integration of smart homes with artificial intelligence, advancements in robotics, advancements in cloud computing, advancements in natural language processing, advancements in healthcare technology, and development of advanced AI algorithms for predictive health analytics.
The forecast of 24.0% growth over the next five years reflects a modest reduction of 0.3% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. Trade tensions could hinder U.S. geriatric care innovation by inflating prices of Artificial Intelligence(AI)-powered fall detection systems and cognitive decline monitoring platforms developed in Finland and Estonia, resulting in reduced elderly safety and higher long-term care facility expenditures. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The rising elderly population is expected to drive the growth of the artificial intelligence (AI) in aging and elderly care market. The elderly population, typically aged 60 or 65 and older, requires specialized care due to aging-related health issues and lifestyle challenges. This demographic growth is fueled by longer life spans thanks to healthcare advancements and declining birth rates, leading to a larger proportion of elderly individuals in society. For instance, according to a January 2024 report from the Population Reference Bureau, the number of Americans aged 65 and older is expected to increase from 58 million in 2022 to 82 million by 2050, marking a 47% rise. Consequently, the share of this age group in the total U.S. population will grow from 17% to 23% during this period. This demographic shift is expected to accelerate the demand for AI-driven solutions in aging and elderly care.
Leading companies in the artificial intelligence (AI) sector for aging and elderly care are prioritizing the development of cutting-edge technologies, such as AI-powered virtual caregivers, to offer tailored care solutions, improve monitoring capabilities, and enhance the overall quality of life for seniors. An AI virtual caregiver acts as a digital assistant that aids in monitoring health, providing medication reminders, offering companionship, and addressing emergencies, all while helping elderly individuals maintain their independence and well-being. For example, in November 2024, Electronic Caregiver Inc., a medical equipment supplier based in the US, introduced Addison Care+ on the AWS marketplace. This advanced AI-powered virtual caregiver aims to revolutionize senior care by improving health management, engagement, and autonomy for aging adults and individuals with chronic conditions. The system provides round-the-clock activity monitoring, early detection of health issues, and detailed care insights, such as medication management and emergency response. With AI-based telecare integration, Addison Care+ streamlines nationwide deployment and supports caregivers with proactive tools for managing health and optimizing care.
In August 2023, WellSky, a US-based healthcare software development company, acquired Experience Care, further expanding its long-term care capabilities. This strategic acquisition integrates Experience Care's NetSolutions EHR platform into WellSky's offerings, supporting 850 facilities. The acquisition enhances WellSky's ability to improve operational efficiency, financial performance, and care quality, strengthening its position as a leading partner in long-term care management. Experience Care specializes in AI-based software solutions designed to optimize care in long-term care settings.
Major players 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.
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 artificial intelligence (AI) in aging and elderly care report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the artificial intelligence (AI) in aging and elderly care market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The artificial intelligence (AI) in aging and elderly care market consists of revenues earned by entities by providing services such as personalized care assistance, health monitoring, smart home integration, smart home integration, and caregiver support. The market value includes the value of related goods sold by the service provider or included within the service offering. The artificial intelligence (AI) in aging and elderly care market includes sales of hearing aids, mobility aids, vision-enhancing devices, smartwatches, fitness trackers, and robotic caregivers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values generated by organizations in the defined geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Artificial Intelligence (AI) In Aging And Elderly Care Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on artificial intelligence (ai) in aging and elderly care market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for artificial intelligence (ai) in aging and elderly care ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The artificial intelligence (ai) in aging and elderly care market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.