Welcome to the Home Evolutions' Blog, where you will regularly find updates, insight and professional analysis regarding independent living and the Age-In-Place movement. Aging-in-Place Market Continues to Attract New Tech Vendors According to Industry Report
The Aging-in-Place market for technology to assist seniors, families and professional caregivers for aging adults is attracting a steady stream of new vendors to a market that will exceed $20 billion by 2020, according to the newly updated 2010 report by Aging in Place Technology Watch. The emergence of caregiving as a concern to baby boomers invites new entrants into the market, according to Laurie M. Orlov, founder of the market research firm.
“With an aging demographic, growing elder caregiving responsibilities and emerging technology awareness of service providers means that more people seek and find solutions that help older family members,” said Orlov. “This is a catalyst for both new entrepreneurs like AFrameDigital and BeClose as well as new business opportunities for existing companies like Philips.”
The industry projections are part of the updated market overview report, 2010 Technology Market Overview from Aging in Place Technology Watch. The document updates about technologies to enable aging in place, including categories for communication and engagement, safety and security, health and wellness, and learning and contribution. The report explains how these tighten the connections between families, caregivers, service providers such as home care agencies and care recipients.
“Mary Furlong, founder of SeniorNet and author of “Turning Silver into Gold” commented: “A research veteran like Laurie choosing this space is an indication of the talent being brought to bear in this industry - analysts size the market, showcase the business opportunities, and shape the market space. The venture and business community are catching up with the need.”
Added Ken Dychtwald, Founder of AgeWave and author of “The Power Years,”: “Long-time Forrester and tech industry veteran Laurie M. Orlov is one of the most formidable - and knowledgeable - industry analysts describing the technology trends in the aging in place market. Her well-informed insights and innovative ideas are consistently spot-on.”
Headquartered in Port St. Lucie, Florida, Aging in Place Technology Watch provides thought leadership, analysis and guidance about technologies and related services that enable boomers and seniors to remain longer in their home of choice. In addition to her technology background and years as a technology industry analyst, founder Laurie M. Orlov is a certified geriatric care manager is a member of the Philips Think Tank on Health & Well-Being.
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