Market Research Report
Enabling Independence: Connected Solutions for Seniors and Caregivers
|Published by||Parks Associates||Product code||919997|
|Published||Content info||22 Pages
Delivery time: 1-2 business days
|Enabling Independence: Connected Solutions for Seniors and Caregivers|
|Published: December 30, 2019||Content info: 22 Pages||
Over the next several decades, the number of Americans ages 65 and older will double to over 80 million by 2050. Three out of four consumers ages 40 and older expect to live in their own homes when they turn 80, and the costs of assisted living facilities will make aging in the home the only option for many Americans. Service providers, professional security monitoring and PERS monitoring companies, which have existing footprints in the home, are exploring opportunities to serve this population.
This report assesses the aging with independence market and highlights leading use cases, including safety, medication management, wellness, and social engagement. It profiles leading efforts from service providers and product manufacturers, examines business models and partnership requirements, and includes a five-year forecast of PERS and sensor-based independent living solutions for seniors at home.
“Alternative devices with emergency response capabilities-such as mobile phones, smart watches, smart speakers, and residential security systems-are competing with legacy PERS devices. Some industry players are taking advantage of the widespread penetration of these devices and finding ways to integrate more robust emergency response technology into the devices already in consumers' homes, while others are utilizing these form factors to develop new PERS-specific solutions that appeal to a broader consumer base,” said Lindsay Gafford, Research Analyst, Parks Associates.