Updated, February 1, 2015
The marketplace for technology to assist aging adults in the Longevity Economy is expected to grow sharply from $2 billion today to more than $30 billion in the next few years, according to the updated report by Aging in Place Technology Watch, likely to be based on customization of software and hardware in general use -- combined with more widely available and persuasive training on how to use it. The 100-million-strong 50+ market is increasingly aware of technology alternatives 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 36 new detailed examples, including new wearables that deconstruct the aging in place model to make companies more in tune with this growing trend.
The report identifies 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.