As connected technology continues to evolve and mature, device manufacturers and providers are shifting their focus beyond young, affluent consumers to another rapidly growing segment of the population – seniors. By the year 2030, people over the age of 65 will comprise 20% of the population in the US. Parks Associates research shows that almost 90% seniors express a desire to live in their own home for as long as possible, and connected health technology and independent living solutions are in an optimal position to enable “aging in place.”

Some examples include the following:  

• Connected medical devices and consumer wellness/fitness products provide users with insights into their own health. With more advanced capabilities such as ECG readings and fall detection now standard on some wearables, these devices have the potential to be a powerful, unobtrusive addition to the independent living toolkit.
• Telehealth and on-demand virtual care services provide a remote solution for physician visits, transitional care after a hospital discharge, and ongoing management for chronic conditions, which can lower costs for both patient and provider – an important consideration for seniors on fixed incomes. These services can also expand access to care for those who have difficulty getting to the doctor, whether due to distance, transportation issues, or medical condition.
• Independent living systems, which encompass a variety of assistive and connected technologies, enhance seniors’ ability to stay in their homes safely and enhance communication with caregivers and loved ones. For seniors who do not require full-time medical care, these systems represent an affordable, accessible alternative to assisted living facilities.

Consumer technology companies are recognizing the enormous opportunity that exists to serve the growing market of seniors and caregivers with devices and services that fit their unique needs and desires. However, this opportunity is not without challenges. Companies must be willing to maintain a level of flexibility with both marketing strategies and business models to find success in effectively reaching older consumers and their caregivers.

For a deeper look into senior and caregiver perspectives on independent living solutions, check out the recently published 360 View – Independent Living: Senior and Caregiver Perspectives. 

Further Reading:

• Telecare in the EU: Smart Home and Independent Living
• 27% of seniors consider home security devices and services as must-have features for their ideal independent living system
• Smart Home, Caregiving, and Aging-in-Place