What trends matter this year and beyond? In 2022, the oldest baby boomer turns 76, while the population aged 65+ will exceed 54 million. Trends accelerated by the pandemic continue to emerge, and the population aged 50+ will continue to purchase and use technology, accounting for an estimated 51% of technology spending by 2030. In an interview with Best Buy Health for their 800,000 recipient newsletter, these were the 7 trendsb we identified that will persist throughout the year -- and beyond. These should be of particular note to startups and tech companies that want to reach the older adult market.
March 2022 – in-person annual trade shows are back. For so many who have been Zooming, Teaming, and WebEx’ing, lo, these many months, it’s actually comforting to know that the big exhibit shows are back. This will be exciting for firms hoping to actually meet prospects in person, including events like HearTech Expo, sponsored by the American Academy of Audiology in St. Louis on April 1 – and next week’s VIVE 2022, the new health IT event in Miami. Upcoming, Argentum’s Senior Living Executive Conference in Minneapolis in March, then the American Society on Aging’s annual conference, On Aging, in New Orleans in April. LeadingAge is holding its Leadership Summit in Washington, DC this month and its annual Conference and Expo in Colorado in October. Hopefully all will be well-attended and business deals will be done, just like in the old days. And to stay up to date, here are the four blog posts from February, 2022:
Voice technology in 2022 – living up to hope and hype? By 2018, it seemed possible that Voice First technology (and its associated AI software) could transform the technology user experience for older adults (see report: The Future of Voice First Technology and Older Adults 2018). Fairly new at the time, a few senior living organizations embraced it for its home automation potential, possibility of concierge services -- turn on the lights! Raise the blinds! Book me on the afternoon trip!. The generally accepted view was that this technology was going to be “Easy, Cheap, Useful, Smart, and Connected (home automation that just works).” Amazon’s Alexa service ran on multiple variants of cheap hardware. Like Apple’s Siri, the software’s understanding of requests was relatively weak (compared to Google Assistant, which emerged in 2018 on Android and iOS).
This week is CES 2022 -- new and current entrants seek markets and partnerships. Perhaps you aren't paying attention -- but once per year, innovations from around the world are presented at CES for comment, media attention, and most of all, seeking interest about what's new (or even just envisioned). This year it is a hybrid event -- with some folks in person, some watching online and others lurking among the press releases. Next week's blog post will detail 10 products/services from CES 2022 that will likely make a difference for older adults. But this week, here is advice for startups and new entrants when thinking about reaching an older adult audience. It is extracted from the Technology for Aging 2022 Market Overview, to be posted following CES, and including 30 offerings that were not in the 2021 version. The advice:
Smart home technologies are not part of the home care solution set. Despite the labor shortage that is impacting the home care industry, technology in the home, especially smart home technology, is not part of the home care solution set. Yet with appropriate use of sensors, cameras, and voice interactions, families and home care providers could improve the wellbeing of older adults, many of whom are alone at home for long stretches of time. What is needed and will emerge over the next five years? Moving forward, there will be multi-tiered offerings customized remotely, adjusted as a person becomes frail. Smart home technology will be used by home care companies to help compensate for labor shortages, warning of in-home issues during those times when the care recipient is alone. What will be available?