What You Should Know About the $2 Trillion Age Tech Market
Did you know the global age tech market is expected to reach $2 trillion?
Technology for older adults (also known as Agetech) is more common than many may realize. From home and wearable sensors that provide remote monitoring, through voice enabled devices, to software solutions for care providers, this space is growing at a tremendous rate, and it unquestionably plays a crucial role in the longevity economy. Indeed, more and more care providers are recognizing the remarkable benefits of employing technology in their business.
A recent report by the US Census Bureau stated that by 2030, the number of people over the age of 65 will surpass the number of people under the age of 18. This means that the demand for technological solutions to provide support and care to seniors will rise enormously.
Age tech is ready to meet this growing demand. Unlike traditional solutions, tech based products focus heavily not only on the challenges and needs of elders, but also on the challenges and needs of care providers, in order to promote the well-being and satisfaction of clients.
Some examples of age tech products
CarePredict is a wearable product and one of the leading brands in the field of wearables and IoT for older adults. It monitors the habits of individuals, and notifies the home care provider (or family member) about any changes in sleeping habits, eating habits, or any general health shifts. It also addresses a highly common and problematic situation: fall prevention. Falling is one of the major causes of severe injuries in older adults. CarePredict tracks the movement of the person wearing it, and automatically informs the home care provider or family- while simultaneously calling for medical help — if a fall occurs.
Essence SmartCare is another line of products that has similar features. Its objective is to help seniors maintain their dignity and independence, while also safeguarding them from common hazards when living independently.
Different products focus on solving different challenges, and LifePod is one such product that fills a specific need. It focuses on preventing older adults from feeling lonely. Through their highly proactive-voice platform and caregiver portal, it allows them to speak to their loved ones and caregivers any time they want.
The GrandPad is a tablet that was designed especially for older adults to help them stay connected to their loved ones. Through the free GrandPad companion app and web portal, loved ones can connect to GrandPad’s private family network, upload photos and adjust settings for the GrandPad user. It also allows healthcare providers to have “eyes on patients” at all times, utilizing the tablet’s telehealth features.
Staying safe and protected with Sensi
Sensi brings a distinct solution to a rather overlooked, yet key, challenge of remote care monitoring. This audio AI solution helps agency owners and supervisors gain critical insight into the performance of their remote care team, so they can make fact-based decisions for the benefit of all stakeholders – caregivers, clients, and their families.
Sensi analyzes the daily care routine, using audio only, and provides insight in real-time. No need for constant active monitoring; no extra work for caregivers or office staff.
A lasting solution to your care monitoring concerns
The use and popularity of tech based products is steadily growing. It can be found in cars, homes, hospitals, and even offices. Tech products for older adults, in particular, have a notable potential for rapid expansion. Considering the data, statistics, and competition, technology for home care services will be significant in the upcoming years, and Sensi.Ai will undoubtedly be integral to this growth.