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Market Overview for Technology for Aging in Place

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Boomer-Senior Tech Business

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Boomer-Senior Tech Business

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.

Samsung Continues its Mission to Tackle Healthcare’s Biggest Challenges with Digital Technology

03/07/2018

LAS VEGAS – MARCH 6, 2018 – Samsung Electronics America today kicked off its presence and programming at the annual Healthcare Information and Management Systems Society Conference (HIMSS) in Las Vegas. In Room #606 (Level 1) of the Sands Convention Center, Samsung will showcase and demo solutions developed in partnership with leading healthcare organizations, as well as enhancements to its Samsung Health platform with the recent launch of the Samsung Galaxy S9 and S9+.

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:

Seniors do not benefit from one-off gadget or service inventions

What percent of exhibitors at trade shows survive?  Rant on. It’s not possible to speculate because it is not tracked.  That probably is fine for that gaggle of gadgetry at CES – most acting as trial balloons to test PR-worthiness and buzz.  But what about events whose trade shows are of one-off products or services intended to help older adults? Some events will not allow a small-sponsorship company to be on the show floor, literally placing them in a corner. Consider:  Company B is a startup, not yet a member of a national association. The founder of Company B, CEO B has been too busy inventing a product to line up complementary offerings that could be sold as a solution to a problem. None of the bigger resellers know anything about Company B yet, so the tiny firm takes the corner booth and hopes that on breaks, walking around the floor will generate a business partner or two -- and with serendipity, enable Company B to be part of the solution ABC.

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