As baby boomers turn 65 at a rate of 10,000 per day, investors, vendors, and service providers see the technology opportunity to serve their needs.
Port St. Lucie, FL (Vocus/PRWEB) March 09, 2011
Baby boomers began turning 65 at a rate of 10,000 per day in January. 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 caregiving as a baby boomer concern 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 technology awareness of service providers means that more people can and will seek and find solutions that help older family members,” said Orlov. “This should energize investors and provide a catalyst for new entrants as well as new business opportunities for existing organizations.”
The vendor and trend insights are part of the updated market overview report, 2011 Technology Market Overview 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 branded industry reports that also include “Calibrated Care is Closer to Home” on wireless health technologies.
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 consultant to organizations like AARP and her insights are widely referenced in publications like Investor Business Daily and Smart Money. Over the past few months, she has keynoted events for the Center for Technology and Aging, the Gerontological Society of America, and The Quality of Life Technology Center and many other events.