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Market Overview for Technology for Aging in Place

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March 2018

Six Offerings from 2018 What’s Next Business Boomer Summit

The 2018 Boomer Business Summit, now in its 15th year, built this year’s conference as the ‘Blueprint for the Longevity Economy’. That blueprint depends on the enthusiasm and foresight of innovators and leaders of technology companies that focus on the boomer-senior market, increasingly offering Voice First interfaces to new capabilities. Here are Six offerings from companies whose founders are passionate about serving the needs of older adults, those who care for them and those who serve them. All of the material included here is from the firms, listed in alphabetical order.

Self-driving cars - not yet for older adults or anyone else

In a taxi in DC – the driver wends his way around buses and pedestrians.  It’s the day after the self-driving car killed a pedestrian. The next day, you can find scores of link references to a police comment that the car was likely not at fault though no investigation has completed – or even been started. In another tech publication (“Big Think – your daily microdose of genius”), you can read that in over 1.5 million miles of testing, one year ago was the first time the car had been at fault when it crashed with a bus. Really? How does the writer know this? Because Google says it was a ‘misunderstanding in the car’s software and from now on, the car will understand that large vehicles and buses will be less likely to yield.’

Do older adults have good reasons to resist technology change?

Surveys affirm increasing tech use among older adults, but for some, not so fast. Whether it is new data from Pew or AARP, some older adults refuse or are unable to use newer technologies, whether it is smartphones, online banking services, or (perhaps especially) social media.  Maybe they prefer feature phones (450 million shipped in 2017!) They may not be interested in being the first to test a new gadget or service.  Maybe they can’t get the packaging for a wearable opened without a hacksaw.  For that matter, how many of us are storing a pliers in their kitchen for vacuum-sealed containers?  But the tech of the day is particularly an anathema to a number of people, whether it is due to costly Internet plans, pricey and fragile smartphones, or hacker-improved, uh, enriched social media.

2018 Market Overview of Technology for Aging in Place published

Technology and tech-enabled services matter for older adults. The marketplace for technology to assist aging adults in the Longevity Economy is expected to grow to more than $30 billion in the next few years, according to the updated report by Aging in Place Technology Watch, more likely to be based on customization of standard software, using existing platforms than creation of senior-specific products. The report provides predictions about key technology trends for 2018 and beyond. Families, caregivers, and seniors will acquire new tech-enabled services that improve the quality of their lives. The 100-million-strong 50+ market is increasingly aware of technology alternatives -- and providers know it:

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