Port St. Lucie, FL (PRWEB) April 8, 2010
The growing marketplace for technology to assist 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 is driving new entrants into the market, according to Laurie M. Orlov, founder of the market research firm.
"At a time when we are seeing so many business opportunities shrinking, this market is poised for steady growth," said Orlov. "With the slowdown in the housing market, growing elder caregiving responsibilities, and emerging technology awareness of service providers means that more people will look for solutions that help older family members. This is a catalyst for innovation and opportunity for both new entrepreneurs and new business opportunities for existing companies.
The industry projections are part of the updated market overview report, 2010 Technology Market Overview from Aging in Place Technology Watch. The document updates which technologies matter to inform caregiving and 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, and care recipients.
Long-time Forrester and tech industry veteran Laurie M. Orlov is the leading industry analyst describing the trends and technologies in the aging in place market at http://www.ageinplacetech.com. The market overview is one of the firm's two major reports: the other, published in September, 2009, is on telehealth technology trends, "Calibrated Care is Closer to Home."
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."
Ken Dychtwald, Founder of AgeWave and author of "The Power Years" said: "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, long-term care ombudsman, and has been invited to join the Philips Think Tank on Health & Well-Being.
Orlov spent more than 30 years in the technology industry, including 24 years in IT and nine years as a leading industry analyst at Forrester Research. Laurie is a recognized expert advisor to organizations like AARP and her blog is widely referenced and re-published. She regularly speaks at conferences like Aging in America, Connected Health, and the UCLA Conference on Aging.