Market Overview for Technology for Aging in Place

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August 2019

The fall tech/aging circuit -- events for your calendar

Out and about in the fall. Especially for startups, going to events can reveal contacts that you may need or initiatives that you did not know even existed. Over the next few months, there are a number of events around the country worth attending if schedules permit and interest areas match. Useful, besides sessions themselves, are exhibit areas where vendors offer new and existing solutions for the target audiences of the attendees.  For those who do not attend, check the exhibit hall online after the event if the organizers make that feature available.  Here are five upcoming events to consider – the information provided is from the websites of the organizers:

A reminder -- moving beyond pilots

Search for the word ‘pilot’ on this siteThat is an interesting historical search – pages and pages of Start Me Up pilots in tech, programs, initiatives large and small, all linked, no doubt to corresponding media spend and press releases.  Think back on the cycles of tech deployment.  Remember the Alpha test, when the product barely worked at all.  After those bugs were uncovered by testers who had scripts designed for successful outcomes, it was time for the Beta test – where selected prospective users are identified, put the offering through its paces, under an assumption that the pilot will be converted to permanent deployment. 

For older adults, consider that transitions are going to take longer

The baby boomer generation’s later years will be unprecedented.   Each time the population aged 65+ is counted, it’s a bigger number. That onslaught, now at 52 million, bears repeating.  The boomers, turning 65 at a rate of 10,000 a day, are pushing and prodding assumptions, deadlines, and pundit predictions. As they do so, they will force industries to change offerings – and drive considerable change in technology that underpins their lives. Consider signals from today's older adults that will only become more pronounced as the boomers move past today's upper age of 73. Today's emerging trends are showing that:

Wearables for health and wellbeing

How do wearables contribute to health and wellbeing of older adults? Did something happen recently propelling sales up 51% that pushed consumers out the door to buy a wearable, like a fitness band or a smartwatch? Was it the coolness of the Apple Watch? Was it fear of ailments that worsen with lack of exercise?Or to put the question another way, what is it that these devices do that can help maintain or improve health, noting that 32% of baby boomers today get no exercise whatsoever, according to the CDC. However more than 50% are striving for 30 minutes per day and want feedback about how they're doing. Today’s wearables have functions that are relevant because they: