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Market Overview for Technology for Aging in Place

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cell phones, smartphones

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cell phones, smartphones

We still don't have insurance to protect from a disruptive technology future

We buy many insurances – just in case.  Car, homeowners, apartment, flood, personal liability – all are hedges against the unknown and unwanted.  Seeing a business opportunity, insurers created a long-term care insurance market for a benefit the customer might not need for another 25 years. We can buy a service contract to cover repairs of our appliances.  Yet so it continues that when we purchase technology, carrier, or software services, the offering changes ever more quickly -- and our technology becomes obsolete. So we toss the products (and services) into the soon-forgotten gadget graveyard with 135 million mobile phones discarded in 2010 alone -- the last date for which there are EPA statistics.

Stop with the drones and other device nonsense

Hopefully a road full of self-driving cars is media mythology.  For the breathlessly awaiting, note Wall Street Journal quote about it being 25-30 years before self-driving cars will dominate the roadways. Apparently there are 250 million vehicles on the road today that are at least 10 years old (impressive in a country that only has 318 million people). Also appreciate that 25 years from now is when millennials will enter their 60s. Will they be just as eager then as they are now to leave the driving to a Google engineer – or will they be as cautious as today’s boomers?  Will these 50-year-olds be walking slowly, bent over as they cross the street, the image of 'old.'  Maybe at 50, they will not be as ignorant as this video shows them to be now.

GREATCALL AND LYFT SOLVE TRANSPORTATION ISSUES FOR SENIORS USING PERSONAL OPERATORS

08/30/2016

SAN DIEGO – AUGUST 30, 2016 – GreatCall Inc., the leader in connected health for active aging, is starting a program that addresses one of the top issues in aging: transportation. The GreatCall Rides program will provide GreatCall customers with easy access to Lyft services – without an app – through GreatCall’s Personal Operator Services.


Tech firms giveth to innovation for seniors – and taketh away

Sometimes the biggest firms lose interest in older adults almost immediately.  That was Amazon 50+. And some, like Apple, never get started, despite interest from their supporters or an integrator like IBM.  Others might get started thinking about a good idea – but within a year or so, executives hold a meeting and one of them says – 'What? What? When did we start to focus on older adults?' How is that a growth proposition, especially for the oldest old?  And so the companies get started, move a bit and/or cancel the effort altogether. Or like Google, they focus on the really far-end of the aging continuum – solving death.

The state of technology for listening to music - it's complicated

Music makes the world go around.  We all know the importance of music – every type of device has a song and dance for accessing, storing and hearing it. Gadgets and apps for listening are everywhere, even as the world of hi fidelity speakers is diminished to ever-smaller and more remarkable sound reproduction.  In the 70’s MIT entrepreneurs founded Tech HiFi, which boomed into 80 stores and some fabulous catalogs before collapsing in the 1980s, along with nearly every other store, including the original not-online-140-character nonsense, the once-$750 million chain was actually called Tweeter. Okay, so all that is gone except for the gear bought by those aged 50+ -- including grand pianos and stereo equipment that the boomers and beyond may have left in their to-be-downsized homes.

Taking stock: watching the game watchers watching Pokémon Go

You may not have noticed people glued to their smartphones? People wandering around in the streets playing Pokémon Go?  Did I mention that there are at least 21 million people who have downloaded the app since July 11? Uh, make that 30 million, uh, make that... That those people are spending more time on this than Twitter or Facebook, apparently consuming less data than either? Crashing into police cars and walking off cliffs – and even killed. A good percentage (40%) are between 25-34 -- but 42,000 in that snapshot are over the age of 45. Apparently state department briefings are no match for the game. And the NY Times photo of throngs on Market a few days ago or today’s Friday night download by 10 million in Japan?

Innovation for the senior market from Israel

Entrepreneurs from Israel have found or been found by Aging 2.0. The mission of Aging 2.0 extends beyond the US: they are seeking innovators and inventions from everywhere, holding events, inviting pitches and announcing finalists. Last week, 12 entrepreneurs from Israel were written up in Jewish Business News – targeting 'technologies for the myriad needs of the aging population.' Five are included here. These have some unique attributes, but also inspire questions -- which may be the 2.0 issue of aging tech/tech-and-aging. Consider the five below. The target recipient of the technology is uncomfortable with technology, may have a physical limitation (hearing or dementia), and be at risk of social isolation. For each of these inventors, next is to identify the go-to-market partner category that will move these offerings into the homes of those who benefit at a beta-tested price point, combining with already familiar services targeting the broader needs of these individuals. These are very early-stage and all text comes from the original article:

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