Says Mary Furlong, Founder of the What's Next Boomer Summits: "Laurie Orlov is the best analyst in the longevity market. She uses the data to sharpen our understanding of the marketing and investing across multiple segments."
PORT SAINT LUCIE, Fla. (PRWEB) March 10, 2020
In 2020, a modest category becomes mainstream. It took the aging of the baby boomers and the sheer size of the aging population to turn a 2009 market niche into a 2020 major market category. That category is less about products specifically designed for older adults as it is about the marketing of many existing offerings as useful to them. This includes smartphones, tablets, smart home technology, Voice First hardware and virtual assistants, and in-home sensors. Each of those devices is enabled for older adults by either more targeted marketing and packaging, enabling software, or bundling into solutions for in-home caregiving and/or healthcare.
The older adult market presents a challenge and an opportunity. Large players like Samsung, Amazon, and BestBuy see a market opportunity worth seizing. In 2020, Medicare Advantage plans began covering some in-home technology to help seniors remain independent – and the use of digital health technologies, including remote patient monitoring and remote consultation, continued to grow. During 2020, hearing technology advances, the emergence of hearables and changes in buying patterns will further disrupt that industry.