Assisted Living Technology Trends and Forecast
The future of the global assisted living technology market looks promising with opportunities in the assisted living facility, nursing home, rehabilitation center, home care setting, and hospice markets. The global assisted living technology market is expected to reach an estimated $17.4 billion by 2030 with a CAGR of 15.7% from 2024 to 2030. The major drivers for this market are rising aging population, growing shift towards home-based care, and increasing integration of assisted living technologies with wearables and smart homes.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Assisted Living Technology by Segment
The study includes a forecast for the global assisted living technology by component, product type, end use, and region.
Assisted Living Technology Market by Component [Shipment Analysis by Value from 2018 to 2030]:
• Hardware
• Software & Apps
• Services
Assisted Living Technology Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:
• Smart Home Devices
• Wearable Devices
• In-Home Cameras
• Personal Emergency Response Systems
• Home Safety & Security Systems
• Medication Management Devices
• Others
Assisted Living Technology Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Assisted Living Facilities
• Nursing Homes
• Rehabilitation Centers
• Home Care Settings
• Hospices
• Others
Assisted Living Technology Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Assisted Living Technology Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies assisted living technology companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the assisted living technology companies profiled in this report include-
• Philips Healthcare
• Tunstall Healthcare Group
• Medtronic
• Siemens Healthineers
• Johnson & Johnson
• Honeywell
• ResMed
• General Electric
• ADT
• Legrand
Assisted Living Technology Market Insights
Lucintel forecasts that hardware will remain the largest segment over the forecast period due to growing requirement for online consultation and observation.
Within this market, assisted living facility will remain the largest segment due to the fact that these facilities provide senior citizens with individualized care..
North America will remain the largest region over the forecast period due to growth in the elderly population and presence of well-advanced healthcare infrastructure in the region.
Features of the Global Assisted Living Technology Market
Market Size Estimates: Assisted living technology market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Assisted living technology market size by component, product type, end use, and region in terms of value ($B).
Regional Analysis: Assisted living technology market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different components, product types, end uses, and regions for the assisted living technology market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the assisted living technology market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the assisted living technology market size?
Answer: The global assisted living technology market is expected to reach an estimated $17.4 billion by 2030.
Q2. What is the growth forecast for assisted living technology market?
Answer: The global assisted living technology market is expected to grow with a CAGR of 15.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the assisted living technology market?
Answer: The major drivers for this market are rising aging population, growing shift towards home-based care, and increasing integration of assisted living technologies with wearables and smart homes.
Q4. What are the major segments for assisted living technology market?
Answer: The future of the assisted living technology market looks promising with opportunities in the assisted living facility, nursing home, rehabilitation center, home care setting, and hospice markets.
Q5. Who are the key assisted living technology market companies?
Answer: Some of the key assisted living technology companies are as follows:
• Philips Healthcare
• Tunstall Healthcare Group
• Medtronic
• Siemens Healthineers
• Johnson & Johnson
• Honeywell
• ResMed
• General Electric
• ADT
• Legrand
Q6. Which assisted living technology market segment will be the largest in future?
Answer: Lucintel forecasts that hardware will remain the largest segment over the forecast period due to growing requirement for online consultation and observation.
Q7. In assisted living technology market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to growth in the elderly population and presence of well-advanced healthcare infrastructure in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the assisted living technology market by component (hardware, software & apps, and services), product type (smart home devices, wearable devices, in-home cameras, personal emergency response systems, home safety & security systems, medication management devices, and others), end use (assisted living facilities, nursing homes, rehabilitation centers, home care settings, hospices, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Assisted Living Technology Market, Assisted Living Technology Market Size, Assisted Living Technology Market Growth, Assisted Living Technology Market Analysis, Assisted Living Technology Market Report, Assisted Living Technology Market Share, Assisted Living Technology Market Trends, Assisted Living Technology Market Forecast, Assisted Living Technology Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.