Market Overview for Technology for Aging in Place

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For older adults, consider that transitions are going to take longer

The baby boomer generation’s later years will be unprecedented.   Each time the population aged 65+ is counted, it’s a bigger number. That onslaught, now at 52 million, bears repeating.  The boomers, turning 65 at a rate of 10,000 a day, are pushing and prodding assumptions, deadlines, and pundit predictions. As they do so, they will force industries to change offerings – and drive considerable change in technology that underpins their lives. Consider signals from today's older adults that will only become more pronounced as the boomers move past today's upper age of 73. Today's emerging trends are showing that:

Wearables for health and wellbeing

How do wearables contribute to health and wellbeing of older adults? Did something happen recently propelling sales up 51% that pushed consumers out the door to buy a wearable, like a fitness band or a smartwatch? Was it the coolness of the Apple Watch? Was it fear of ailments that worsen with lack of exercise?Or to put the question another way, what is it that these devices do that can help maintain or improve health, noting that 32% of baby boomers today get no exercise whatsoever, according to the CDC. However more than 50% are striving for 30 minutes per day and want feedback about how they're doing. Today’s wearables have functions that are relevant because they:

Eight Intriguing Offerings from the 2019 Voice Summit

The Voice Summit, like Voice First itself, is still in its early years.  The second annual event was last week – and you would think incorrectly that at least one writer from a national news media outlet would have written about it by now, especially with 5000 attendees, sponsorships from Amazon and Google, 150 exhibitors, and numerous awards.  One of those which went to UnaliWear for Best IoT Device, a firm we have long tracked in the aging tech market, but given the rise of smart watches, the market transcends that segment. Another (healthcare award went to Suki, a voice notes offering for doctors that "has demonstrated up to 70% reduction in time spent entering notes." 

Voice, Health, and Well-being – Launching a New Report for 2020

It’s a given -- Voice First will be even more pervasive in 2020. The rapid growth of the market for voice-enabled technologies has been a phenomenon within the past two years that can understand spoken requests and commands, answer questions, and even offer scheduled alerts.  Industry firms like Gartner expect that the combination of natural language processing, AI, and speech recognition are driving significant growth in adoption of voice technology across multiple dimensions. Speech recognition, for example, will penetrate 80% of mobile devices by 2020.   Some describe this trend of developing software for voice-enabled device user interfaces as Voice First.

Navigil unveils a new AI powered wellbeing solution for active seniors

06/11/2019

Espoo, Finland – June 11, 2019 – Navigil, a specialist in white label telecare and personal safety solutions, has unveiled the Navigil Suite that consists of Navigil 580 wellbeing wristwatch and Navigil Service. The solution is powered by the latest mobile communication technology and artificial intelligence. It supports active aging persons who want to secure a long independent life while taking into account the concerns of their closest ones.

Pillo Health Raises $11M in Series-A Funding

05/30/2019

BOSTON, MA – (May 29, 2019) – Pillo Health, a Boston-based technology company improving longevity and quality of life for patients managing their health at home, today announced that is has secured $11 million in funding from leading venture investors to complete its Series-A round. The capital will be used to drive growth and innovation as Pillo Health builds out its voice-enabled medication and care management platform for the home.

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