Updated, November 15, 2012

The marketplace for technology to assist aging adults is expected to grow sharply from $2 billion today to more than $20 billion by 2020, according to the updated report by Aging in Place Technology Watch.  The aging of the 78 million baby boomers and increased awareness of technology solutions will drive sales, according to Laurie M. Orlov, who founded the market research firm in 2009.

Blending both her years of experience and recent in-depth research on the subject, Laurie’s forward-looking study is illustrated with descriptive graphics and detailed examples that deconstruct the aging in place model to make companies more in tune with this growing trend.

In addition, she has identified four areas of focus that fit together seamlessly when implemented into a home; health and wellness,safety and security, communication and engagement, and learning and contribution all work in tandem to help companies devise the right kinds of products for aging consumers, as well as family and professional caregivers, who will use these technologies to keep up with daily activities. Laurie also introduces the concept of role—and need-based hubs—informational portals that familiarize online audiences with aging in place technologies and provide a faster means of purchasing health and senior care products and services that comply with these trends.