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Market Overview for Technology for Aging in Place

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baby boomers

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baby boomers

Living connected lives as we age


Are older adults living offline lives – now? It’s so tough predicting the distant future when the pace of adoption accelerates.  The Boston Globe ‘Ideas’ column on the Future of Old interviewed a plethora of pundits on just how social our online lives might be, so different and remarkable when today’s 30-year-olds turn 70 in 2050. Think how much of a contrast that video game playing, cat video viewing generation would be to today’s old folk – struggling with isolation, boredom and Alzheimer’s (43% of people over the age of 85 show symptoms, cites writer Leon Neifakh.)  

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Home Monitoring, Safety and Health Devices Should be User-Friendly for All Ages and Abilities

 

The real elderly are hidden behind demographic murkiness


Silly segmentation strikes again.  You probably didn't think about it if you read about HP's proposed new wristwatch in today's business pages of the NY Times.  Did you know that between 2008 and 2010, sale of watches fell 29% in the 18-24 age group, rose 33% in the 35-44 age group and 104% for those 65 and older?  Okay, no big deal, you say.  NPD Group, keeper of these stats, reports this as though a 6-year age range, a 9 year age range, and a 25+ year age range have comparable purchasing characteristics within the range. Misinterpretation opportunity looms large -- and if you are a watch manufacturer, it may not be time to plan on closing the business within the next 10 years based on whether 'young shoppers' may care.   In fact, it would have been great to ask a few older adults if they'd like HP's proposed wireless watch (with hands!) which could be programmed with canned responses and might have utility -- maybe even expanding the PERS opportunity downward.

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