Market Overview for Technology for Aging in Place

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aging in place

Aging in place and market size exaggeration

Look closer at that Semico aging in place projection of $30 billion by 2017.  In an article in the Dallas Morning News just a few days ago, the previously noted Semico $30 Billion projection of  'aging in place' (AIP) technology by 2017 was quoted again. Nice number, but what's it for? Taking a closer read, the cited report asserts that “almost 70 percent of the over 120 million unit shipments will come from wellness peripherals like glucose meters, blood pressure monitors and smart scales.” Really? Hang in with me a second. That's 84 million of these 'wellness peripherals' that the population which is aging in place will be buying within 3 years, generating that $30 billion.

Scaring seniors -- the hyping of falls, fraud, and weather

Listening to the weather channel could make an isolated senior nervous.  Nearly 46% of women aged 75+ (around 11 million) live alone -- and one in three of them will live until at least the age of 90. In fact, 2 million are aged 90+ now.  If they listen to the news or the weather channel, they have quite a bit of opportunity to be frightened about the prospect of tornados, hurricanes, flash floods, excessive heat, poor air quality or wildfires. Perhaps they're watching TV and they see that absolutely horrendous Life Alert ad. That's it for going down to the basement. Then the telephone or doorbell rings -- a nice distraction from the 4+ hours per day spent watching TV or perhaps the few minutes online -- if there is a computer or tablet around them to use.

Five New Technologies for Aging in Place - March - June, 2014

What's new and tech-related for helping older adults? Every few months this site attempts to sweep up and refresh a few of the announcements about technology in the market that can be helpful both to older adults and to those that care for them. These five announcements meet the criteria older adults remain safe, healthy, secure, and well-connected in their homes of choice. The information in this list (alphabetical order) comes directly from the websites of the individual companies themselves and includes:

As Age-Friendly Technologies Emerge, Experts Recommend Policy Changes

03/20/2014

From smart phones to smart cars, both public and private entities must consider the needs of older adults in order to help them optimize the use of new technologies, according to the latest issue of Public Policy & Aging Report (PP&AR),  titled “Aging and Technology: The Promise and the Paradox.” A total of eight articles all from authors affiliated with the Massachusetts Institute of Technology AgeLab are f

Social Security and the calculators of our lives

Every day, in every way, see advice about Social Security.  It must be the most frequently asked question of all time. The NY Times ran a Money column this past weekend – probably the thousandth time they’ve run the exact same piece of advice. Wait to take Social Security until you’re 70.  Pay a bit of attention to the nearly 400 comments that wrestle the writer down – pretty much saying to take it when you’re eligible. And that’s so interesting when you look at the data the writer included -- with a deep sigh -- at the end: "Of the 1.4 million men and nearly 1.3 million women who began collecting benefits in 2012, about 1 percent of the men and nearly 2 percent of women were at least 70." Considering that virtually no one heeds it, no wonder the advice must be repeated, ad nauseum. In fact, five days earlier, the Wall Street Journal ran an article with the exact same advice! And AARP ran the same advice on October 24.  Ditto for USA Today on October 13.   

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