Senior Living Market to grow by USD 130.9 Billion from 2025 to 2029, Driven by Aging Baby Boomer Population, AI-driven Market Transformation - Technavio

, /PRNewswire/ -- Report with the AI impact on market trends - The senior living market and it is set to grow by USD 130.9 billion from 2025 to 2029. However, the growth momentum will progressing at a CAGR of 5.8% during the forecast period, according to Technavio. The senior living market is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market.  AbsoluteCare Inc., Affinity Living Communities, Belmont Village Senior Living, Brookdale Senior Living Inc., Covenant Living Communities and Services, Enterprise Retirement Living Ltd., Erickson Senior Living Management LLC, Extendicare Canada Inc, Genesis Healthcare Inc., Golden Heights Personal Care Home, Grand world Elder Care, HC One Ltd., Lendlease Corp. Ltd., Life Care Centers of America Inc., Merrill Gardens, Max India Ltd., ProMedica Health Systems Inc., Senior Lifestyle, Sunrise Senior Living LLC, and Wickshire Senior Living are some of the major market participants -. To know about the vendor offerings - Request a sample report

Senior Living Market 2025-2029: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The senior living market report covers the following areas:

• Senior Living Market Size
• Senior Living Market Trends
• Senior Living Market Industry Analysis
• Porter's Five Forces Analysis
• Customer Landscape

The senior living market is fragmented, and the degree of fragmentation will accelerate. The aging baby boomer population will offer immense growth opportunities. However, the Staffing and workplace challenges will hamper the market growth

Senior Living Market 2025-2029: Drivers & Challenges

The aging baby boomer population, consisting of individuals born between 1946 and 1964, represents a significant market opportunity for senior living services. As this demographic group continues to age, there is a growing demand for retirement options that offer comfort, security, and engaging lifestyles. Senior living services cater to this need by providing various housing options, such as independent living, assisted living, and memory care. These services also offer desirable amenities, including social activities, fitness centers, and healthcare services, making them an attractive choice for senior citizens seeking a comfortable retirement experience.

The senior living market faces significant staffing challenges that hinder its growth. The shortage of qualified caregivers and healthcare professionals is a major constraint for senior living facilities, as the aging population requires more specialized care. This issue is compounded by demographic shifts and a limited pool of individuals pursuing eldercare careers. Consequently, senior living providers struggle to recruit and retain skilled staff, leading to high turnover rates and potential decline in care quality. The demanding nature of caregiving roles can also lead to employee burnout, worsening the staffing crisis and hindering the expansion of senior living facilities.

To learn more about the global trends impacting the future of market research, download a PDF sample

Segment Overview 

This senior living market report extensively covers market segmentation by  

• Service
• Assisted Living
• Independent Living
• CCRC
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

1.1 Assisted living-  Assisted living arrangements offer senior adults a residential solution with apartment-style units, some equipped with kitchens, while others may not due to safety concerns. Memory care units, specialized for individuals with cognitive impairment, feature increased security measures and may not allow kitchens. Vendors are expanding in this market segment, driving growth. Assisted living is for seniors needing help with activities of daily living, with 24-hour staff and medical professionals. It doesn't include skilled nursing care. A base rate covers utilities, housekeeping, and meals, with additional services available at extra costs. Seniors can hire in-home care for specialized needs. These factors will fuel the growth of the global senior living market's assisted living segment.

To learn more, request a FREE sample

Senior Living Market 2025-2029: Key Highlights

• CAGR of the market during the forecast period 2025-2029
• Detailed information on factors that will assist senior living market growth during the next five years
• Estimation of the senior living market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the senior living market across North America, Europe, APAC, South America, and Middle East and Africa
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of senior living market vendors

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio