The 2021 release of the Market Overview of Technology for Aging sharpens the focus on older adults and their technology needs in this post-pandemic year. It took the aging of the 73 million baby boomers, a pandemic emergency, and investor interest to transform a 2009 market niche into this 2021 $30 billion market category. In 2021, the market will focus less on products specifically designed for older adults and far more about marketing existing offerings as useful to them. This includes but is not limited to smartphones, smart speakers and displays, AI and machine learning technology, virtual assistants, smart home technology, Voice First hardware, virtual reality, and in-home sensors. This 2021 update includes more than 30 new entrants from startups and established companies like Amazon and Google, all intent on reaching the enormous older adult population.
More older adults will remain in their homes in 2021 versus moving to senior living, now at its lowest-ever occupancy. A sizable percentage live alone and are socially isolated. As a result, home care organizations, home health care, non-profits serving seniors, and national advocacy groups are all looking at the 2021 role that technology can play in serving their constituents. During late 2020, news outlets like the New York Times, Wall Street Journal, Consumer Reports, Kiplinger, MobiHealth News interviewed Laurie Orlov on the significant changes in this market segment.
Leading industry analyst Laurie Orlov and Aging and Health Technology Watch (http://www.ageinplacetech.com) have been tracking the transformative technology developments in this market since 2009. This is the 13th release of this Market Overview during that time.
