Global A.I. Healthcare Market Size Estimated To Reach $148.4 Billion By 2029

AI in Healthcare Market Growth - The global AI in healthcare market is projected to grow from USD 20.9 billion in 2024 to USD 148.4 billion by 2029, with a CAGR of 48.1% [1] - Key drivers include the generation of large healthcare datasets, the need to reduce costs, improved computing power, declining hardware costs, and increased partnerships in the healthcare sector [1] - AI applications in healthcare are revolutionizing diagnostics, personalized medicine, and treatment planning through big data analytics [1] AI in Elderly Care - AI is transforming elderly care by enabling continuous health monitoring, fall detection, medication management, and personalized care plans [2] - AI-driven solutions address loneliness through companion robots and virtual assistants, while improving resource allocation and cost efficiency in healthcare settings [2] - AI also supports predictive analytics for disease outbreaks and advanced diagnostic tools for faster and more accurate medical condition identification [2] Avant Technologies' Acquisition - Avant Technologies is negotiating to acquire a healthcare technology and data integration services firm in a cash-and-stock transaction valued at approximately $2 million [2] - The acquisition is expected to improve Avant's financial health through immediate revenue and cash flow gains from inherited long-term customer contracts [3] - It strengthens Avant's expertise in healthcare data handling, boosts sales capabilities, and establishes a professional services team to meet growing customer needs [3][4] Strategic Benefits for Avant - The acquisition unlocks opportunities for upselling and cross-selling additional services and products, including automated data integration and high-density compute offerings [4] - It accelerates the delivery of Avant's high-density computing solutions and supports ongoing research and development efforts [4] - The deal positions Avant to capitalize on the booming AI adoption in the healthcare sector [3][4] Recent Market Developments - C3 AI was named to the Constellation ShortList™ for Cloud-Based Data Science & Machine Learning Platforms for the fifth consecutive year, reinforcing its leadership in enterprise AI [5] - SoundHound AI announced an innovative in-vehicle voice assistant using a large language model (LLM) on the NVIDIA DRIVE platform, enabling generative AI without cloud connectivity [5][6] - Snowflake and NVIDIA expanded their collaboration to deliver a secure AI platform combining NVIDIA's accelerated computing with Snowflake's Data Cloud, aimed at accelerating AI productivity across industries [7]