For Boomers and Seniors, Tech Matters -- October 2011 Market Overview Update

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Tablets and eReaders have entered the vocabulary of boomers and seniors – along with smart phones, social networks, and mobile PERS devices. Now, more than ever, older adults are turning to the market for technology that helps them remain in their homes and care for aging parents, according to the October 2011 update of the Market Overview report by Aging in Place Technology Watch. New tech continues to emerge, and existing vendors tune offerings to meet future demand according to Laurie M. Orlov, founder of the market research firm.

Social networks and media have helped place technology on the must-have list for boomers and seniors.

Baby boomers began turning 65 at a rate of 10,000 per day in January – a phenomenon that will continue for the next 20 years. The market for technology to assist boomers, seniors, families and professional caregivers is attracting a steady stream of new vendors to a market that will exceed $20 billion by 2020, according to the newly updated 2011 report by Aging in Place Technology Watch. The emergence of social networking and tech for caregiving invites new entrants into the market -- according to Laurie M. Orlov, founder of the market research firm.

"With an aging demographic, product and service vendors target growing elder caregiving responsibilities and technology awareness of service providers. As awareness grows, people can and will seek and find solutions,” said Orlov. “This has energized investors and provides a catalyst for new entrants as well as new business opportunities for existing organizations.”
The vendor and trend insights are part of the October 2011 updated market overview report from Aging in Place Technology Watch. The document updates trends and 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, and service providers such as home care agencies and care recipients.

Long-time Forrester and tech industry veteran Laurie M. Orlov is the leading analyst describing trends and technologies in the boomer and senior markets. The market overview is one of her industry reports that also include the April, 2011 AARP-sponsored “Connected Living for Social Aging: Designing Technology for All.”

Mary Furlong, founder of SeniorNet and author of "Turning Silver into Gold" commented: “Laurie Orlov is one of the gifts to the industry of boomers, seniors and caregivers. Her incisive mind and thorough analysis of the market has helped many entrepreneurs, venture capitalists and corporations.”

Tom Mann, Managing Partner, TR Mann Consulting says: “If you want to know the future of aging, your conversation should start with Laurie Orlov. There are lots of experts of aging in this world -- and there are lots of experts on technology, but there are VERY few experts on aging and technology.”

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 and a member of 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. She is a recognized expert and has consulted to organizations like AARP and her insights have been referenced in publications like Kiplinger, the Wall Street Journal, the Toronto Globe and Mail, and the New York Times. She has been a frequent keynote speaker and panelist at national and international events.

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