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North America Assisted Living Software Market – Industry Trends and Forecast to 2031

ICT

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North America Assisted Living Software Market – Industry Trends and Forecast to 2031

  • ICT
  • Upcoming Report
  • Feb 2024
  • North America
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

North America Assisted Living Software Market, By Deployment Type (On Cloud, On Premise), Applications (Computer Application, Mobile Application), Facility Type (Adult Family Home, Community-Based Residential Facility, Residential Care Apartment Complex, Others), Function (Appointment Scheduling, Resource Allocation, Documentation of Services) - Industry Trends and Forecast to 2031.

North America Assisted Living Software Market

North America Assisted Living Software Market Analysis and Size

The factors such as the propulsion in the rate of geriatric population across the globe and swelling number of retired individuals, military veterans and baby boomers have shown a great interest in the assisted living program and are expected to emerge as significant factors accelerating the growth of assisted living software market in the forecast period of 2024 to 2031. In addition to this, imputing note of increasing nuclear families and micro-living has helped to develop the assisted living market, where elderly individuals are taken care of by the service operator along with the proper healthcare, amenities, and care provided round the clock in these special homes will further aggravate the growth of the assisted living software market in the above-mentioned forecast period are projected to result as a growth for the market.

Data Bridge Market Research analyzes that the North America assisted living software market was valued at USD 89.49 million in 2023 and is expected to reach USD  179.87 million by 2031, registering a CAGR of 9.1% during the forecast period of 2024-2031. “On Cloud” dominates the market as cloud-based systems offer the flexibility to scale resources based on the evolving needs of assisted living facilities, ensuring efficient and cost-effective operations. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

North America Assisted Living Software Market Scope and Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By Deployment Type (On Cloud, On Premise), Applications (Computer Application, Mobile Application), Facility Type (Adult Family Home, Community-Based Residential Facility, Residential Care Apartment Complex, Others), Function (Appointment Scheduling, Resource Allocation, Documentation of Services)

Countries Covered

U.S., Canada, Mexico

Market Players Covered

AMERICAN HEALTHTECH (U.S.), Eldermark (U.S.), Yardi Systems, Inc. (U.S.), AL Advantage, LLC (U.S.), VITALS SOFTWARE (Canada), MatrixCare (U.S.), Medtelligent, Inc. (U.S.), RealPage, Inc. (U.S.), iCareManager, LLC. (U.S.), Caremerge (U.S.), PointClickCare (Canada), Dude Solutions, Inc. (U.S.)

Market Opportunities

  • Integration of assisted living software with electronic medical administration records
  • Growing urbanization and deployment of workflow automation

Market Definition

Assisted living amenities are ordinary settings that imitate the home atmosphere it support the resident's self-containment and even provide the proper medical care. The patients, older people, or people with disabilities are provided the assistance of special care, healthcare including aid support, and accommodation. The software that keeps the information and analysis of the people is called assisted living software.   

North America Assisted Living Software Market Dynamics

Drivers

  • Propulsion in The Rate of Geriatric Population Across the Region

As the demographic landscape evolves with an increasing number of elderly individuals, there is a growing demand for advanced technological solutions to address the unique needs and challenges of assisted living facilities. Assisted living software, tailored to enhance resident care, streamline operations, and improve overall efficiency, has become an indispensable tool in managing the complex healthcare requirements associated with an aging population. This surge in demand reflects the pressing need for innovative solutions to support caregivers and optimize the delivery of quality care in the face of demographic shifts in North America.

  • Upsurge in Demand for Real-Time Services

A notable upsurge in demand for real-time services, reflecting a fundamental shift towards more responsive and adaptive caregiving solutions. As the healthcare landscape evolves, there is a growing emphasis on the immediacy of information and services within assisted living facilities. Real-time capabilities in assisted living software enable instant access to critical data, fostering quicker decision-making and enhancing overall resident care. This heightened demand underscores the industry's recognition of the importance of timely and efficient solutions, as caregivers seek to provide the best possible support in an environment where responsiveness can significantly impact the well-being of residents.

Opportunity

  • Integration of Assisted Living Software with Electronic Medical Administration Records

The integration of assisted living software with Electronic Medical Administration Records (eMAR). This integration represents a pivotal step in optimizing healthcare management within assisted living facilities and streamlining the documentation and administration of medication. By seamlessly merging assisted living software with eMAR systems, caregivers can enhance medication accuracy, improve adherence, and reduce the risk of errors. This collaborative approach not only promotes operational efficiency but also ensures a comprehensive and integrated approach to resident care, aligning with the evolving technological landscape in North American assisted living facilities.

Restraint/Challenge

  • High cost of service attained

As the demand for advanced technological solutions continues to rise, the associated expenses related to the implementation, customization, and maintenance of assisted living software pose a significant barrier. The market is witnessing a delicate balance between the imperative for innovative, feature-rich software and the necessity for cost-effectiveness. Navigating this landscape requires a strategic approach from stakeholders to ensure that the benefits of sophisticated assisted living software are realized without compromising financial feasibility in the dynamic North American healthcare environment.

This assisted living software market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the assisted living software market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.

Recent Development

  • In February 2022, Creative Solutions in Healthcare (CSNHC) launched a new software platform, Connected Care Center, to increase transparency in its 92 skilled nursing facilities

North America Assisted Living Software Market Scope

The assisted living software market is segmented on the basis of deployment, applications, facility type and function. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Deployment Type

  • On Cloud
  • On Premise

Applications

  • Computer Application
  • Mobile Application

Facility Type

  • Adult Family Home
  • Community-Based Residential Facility
  • Residential Care Apartment Complex
  • Others

Function

  • Appointment Scheduling
  • Resource Allocation
  • Documentation of Services

North America Assisted Living Software Market Regional Analysis/Insights

The assisted living software market is analyzed and market size insights and trends are provided by country, deployment, applications, facility type and function as referenced above.

The countries covered in the market report are the U.S., Canada, and Mexico in North America.

U.S. is expected to dominate the market due to increase in research on new electronic technologies and technological advancement is boosting the market growth in the country.

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Europe brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.     

Competitive Landscape and North America Assisted Living Software Market Share Analysis

The assisted living software market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the assisted living software market.

Some of the major players operating in the assisted living software market are:

  • AMERICAN HEALTHTECH (U.S.)
  • Eldermark (U.S.)
  • Yardi Systems, Inc. (U.S.)
  • AL Advantage, LLC (U.S.)
  • VITALS SOFTWARE (Canada)
  • MatrixCare (U.S.)
  • Medtelligent, Inc. (U.S.)
  • RealPage, Inc. (U.S.)
  • iCareManager, LLC. (U.S.)
  • Caremerge (U.S.)
  • PointClickCare (Canada)
  • Dude Solutions, Inc. (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The assisted living software market size will be worth USD 179.87 million by 2031.
The growth rate of the assisted living software market is 9.1% during the forecast period by 2031.
Propulsion in the rate of geriatric population across the region & upsurge in demand for real-time services are the growth drivers of the assisted living software market.
Deployment, applications, facility type and function are the factors on which the assisted living software market research is based.
Major companies in the assisted living software market are AMERICAN HEALTHTECH (U.S.), Eldermark (U.S.), Yardi Systems, Inc. (U.S.), AL Advantage, LLC (U.S.), VITALS SOFTWARE (Canada), MatrixCare (U.S.), Medtelligent, Inc. (U.S.), RealPage, Inc. (U.S.), iCareManager, LLC. (U.S.), Caremerge (U.S.), PointClickCare (Canada), Dude Solutions, Inc. (U.S.).
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