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Market Overview for Technology for Aging in Place

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Today’s Big Tech vendors give Tech a bad name

You remember Big Pharma.  Not long ago we heard a lot about it. This widely used term was once coined about the largest drug companies, often with the biggest direct-to-consumer advertising budgets, malpractice suits, lobbying budgets, fines, political influence and of course, sizable profits.  When it was newsworthy to talk about it, the Big Pharma image was tarnished by too much negative media attention. And so the industry works harder at maintaining a low-key profile as it continues with business as usual.   Big Pharma spends money on public relations and marketing -- $21 billion anticipated in 2016 alone. 

For boomers, there is no such thing as keeping up with tech change

When boomers are 84 – there will be no keeping up. Just the same as when they are 64.  Many boomers disagree with that statement, finding it insulting or pessimistic or both. They will repeat plaintively that baby boomers are very different than their parents’ generation. They are comfortable with technology. See how many have smartphones! They text, use Facebook and YouTube.  Many book travel online, read TripAdvisor reviews, and even call for car pickups with an app!  So what’s the problem? Tech change is occurring faster than boomers at 64 or 84 will want to use. Groups of people who used to participate in one social network will leave in 11 million-at-a-time droves and without explanation.  And, as with Facebook, the departed will include your children and grandchildren who left to use Instagram and Snapchat. They will leave without notice – the social network equivalent of changing a phone number – with parent/grandparent only learning about it when they tried to place a (now-obsolete) phone call. Eventually they will also leave those tools behind, and so on and so forth.

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