About Elder Care Service Platform
Eldercare service platforms allow family members to better care for their elders or grandparents by offering services like medical care, personal care, respite care, etc. In today’s time, the senior care service market is growing at a rapid pace due to the increasing working population and urbanization across the globe. Increased adoption of mobile devices and inclination toward telemedicine among senior citizens after the covid-19 pandemic will create significant opportunities for the market. Further, the demand for assisted living care is increasing in the urban areas of developed and some developing countries, which will accelerate the growth of the eldercare service platform market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.85% |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Elder Care Service Platform market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Alvarium (Netherlands), Honor (United States), CareLinx (United States), EMOHA (India), Care.com, Inc. (United States), Cera Care (United Kingdom), Homage (Singapore), Mable Technologies Pty Ltd. (Australia), Hometeam (United States), Ianacare (United States) and GlobalLogic Inc. (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Ouihelp (France), Springwise (United Kingdom), Ouihelp (France), DUOS Living, Inc. (United States) and Yodda (India).
Segmentation Overview
AMA Research has segmented the market of Global Elder Care Service Platform market by , Application (Home Care, Transportation, Social activity, Home safety and Others) and Region.
On the basis of geography, the market of Elder Care Service Platform has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Platform, the sub-segment i.e. Android will boost the Elder Care Service Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pricing Model, the sub-segment i.e. Subscription Based will boost the Elder Care Service Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service Type, the sub-segment i.e. Personal Care will boost the Elder Care Service Platform market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Development of New High-Tech Tools and Integration of Artificial Intelligence in the Elder Care Service Platforms
Market Growth Drivers:
Growing Popularity of In-home Elder Care Services in the Urban Areas Due to Busy Lifestyle and Increasing Adoption of Smartphones Among the Senior Citizens and Rapid Growth of Mobile Healthcare Apps
Challenges:
Unsatisfactory Health Care and Insufficient Emotional Comfort Can Affect the Elder Care Service Market
Restraints:
Less Acceptance of Elder Care Service Platforms in the Underdeveloped Countries and High Cost Associated with In-Home Medical care Services for Elders
Opportunities:
Need for Senior Care Services in the United States Due to Increasing Number of Baby Boomers in the Country and High growth of Assisted Living Care in the Developed Countries Will Boost the Market
Market Leaders and their expansionary development strategies
In August 2023, Yodda Elder Care has teamed up with GlobalLogic Inc., a Hitachi Group Company renowned for Digital Engineering expertise. This groundbreaking collaboration introduces extensive elder care benefits for GlobalLogic’s workforce, marking an innovative step towards fostering an inclusive and supportive work environment. Through this strategic partnership, Yodda will extend its elder care services to GlobalLogic’s.
In October 2023, DUOS Launches AI-Powered Platform to Help Senior Citizens Live Independently. It is introduced a platform that uses artificial intelligence (AI) to connect senior citizens with resources like primary care and transportation. The new DUOS+AI platform is designed to empower older adults to live independently by enhancing their access to necessary services.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Elder Care Service Platform Manufacturers, Venture Capitalists and Private Equity Firms, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.