Market Overview for Technology for Aging in Place

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IoT and home monitoring

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IoT and home monitoring

Five Recent Caregiving Technology Offerings in 2018

What newcomers have entered the market?  Besides ‘longevity market new media’ like Stria (former Next Avenue) that provided a splash of cold water for startups and investors in the older adult space.  Although there is little evidence that any investors are bullish about the general older adult market – despite AARP documentation and various books to the contrary, innovators continue to create new offerings to help older adults live better lives.  Here are five recent and soon-launching offerings to help – content is from the websites of the firms or articles about them:

People Power Introduces Geofencing for Smart Home Services

07/10/2018

PALO ALTO, CA – July 10, 2018 – Adding to the company’s growing lineup of Artificial Intelligence-powered (AI) microservices for the smart home, People Power, the Internet of Things (IoT) software company providing white-label solutions for home security, energy and senior care service, today announces its new Home Occupancy Status Microservice.

Four technology categories to remotely monitor a paid caregiver

The boom in home care has side effects -- turnover and risk. We want to trust home care workers with aging parents.  After all, most cannot afford private pay assisted living – which can exceed $3000/month in most locations – and assisted living occupancy is projected to be flat -- likely because people see the cost and defer move-in. Given expanding life expectancies at age 65 – an average of 20 more years for men and more for women, the possibility of ‘aging in place’ in a private home may be growing.  As a result, the demand for private home care will grow, but so will the costs – especially for finding workers willing to do this difficult work for low pay. As of 2017, median home care turnover was 66.7% (compared to 30% for CNAs in assisted living).  With so many workers coming and going, especially for care recipients with the most taxing care requirements, what technologies may assist families and agency management for monitoring care?

Lighthouse Helps Elderly Parents Age in Place in their Home Longer and More Safely

04/25/2018

PALO ALTO, Calif., April 25, 2018 - Industry research suggests people are aging faster, and aging longer in their homes. Yet, a very small percentage of U.S. homes are actually designed for aging in place and meet the needs of both the parent and child. The Lighthouse smart home camera addresses today’s most common problems with aging in place by protecting elderly parents and providing peace of mind for their children.


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