Task-specific devices must add functions over time. The cliché in the tech industry is truer now than ever – because an innovation is possible – not always helpful, but possible -- it will be done. And adding functions to products is as inevitable as tomorrow’s sunrise. As we look around the home technology market, we can already see dedicated devices beginning to share activities: a TV can now be interactive, PCs and tablets now functional for viewing movies, radios that become speakers for Internet streaming, ever-more multi-function kitchen devices and so on. As devices become multi-purpose, they can also add new channels of distribution – opening up new retailers, catalogues, websites, and show venues.
What goes around comes around and gets a new market sizing. You may have seen a rather giddy press release recently that sized the market for aging in place technology at a cool $30 billion by 2017. The global market for elder care technologies will hit $7.2 billion by 2018 and as for home monitoring of seniors, the number of units of wearable wireless devices will climb from 3 million units (2011) to 36 million units by 2017, and users of family locator services (including PERS) will reach 70 million by 2016. It’s a good thing these sizings forecast three to four years from now. That will give everyone time to overcome barriers that hamstring utilization today -- like controlling the cost of device, figuring out who pays for them and will the target user actually be able to afford to use it/wear it to help them stay safe or will the doctor and supporting staff remain engaged to help the user keep their chronic disease(s) under control?
Finding the visibility and network that your offering deserves. We are entering the trade show season, so it’s time to make a few go/no go decisions. You have had your product (or new version) or service ready for the past months or year. Your pilots have been successful and you now know that professionals, prospects and early customers are pleased with what you’ve done. You’ve read Ten Tips for Launching a Product or Service. You have first focused on the local/regional events. Now make sure your offering – whether it is caregiving, health and wellness, home safety, learning, engagement or just plain fun – is well-received at events attended by prospective customers, resellers, referring professionals, possible partners, and adjacent product categories. Consider this list of national events (listed in date order). Study prior exhibitor participant lists, learn about typical number and profile of attendees, booth costs, hotel and attendance fees. Note any (of many) innovation award opportunities, if not now, then for the future. If you are not that familiar with any of these, consider going once as an attendee -- before exhibiting. Comments about other events are, of course, welcome:
Rounding up the recent technology launches – tech for older adults. Catching up, here are few recent announcements from in-market companies. A brief digression: I get a bit upset when I read about companies in the news that are described as offering "SOLUTIONS" about products that are not ready, products for which they could be taking pre-orders, but basically there is nothing to buy. This is especially unfortunate in the category of PERS, where consumers expect a solution can address a fear of falling and being left alone. It is especially NOT okay for products that target the senior housing industry, where the residents may be very frail, where the companies are very cautious, and the industry is not known for leading with tech of any type, let alone one that is so new that it cannot be purchased. So here are four new offerings – it is my belief/hope that all are available -- preventing a few others from being on the list. Content is from the vendors’ press information:
