As the global elderly population booms, at least one optimistic projection shows the market for technology aimed at seniors growing threefold over the next seven years, from $27 billion to $82 billion by 2030.
Communication-aid technology such as smart home devices and artificial intelligence apps will be a $30 billion industry by the end of the decade. The optimistic growth incorporates recent trends such as the rise in telecare and the continued post-pandemic recovery into the forecast, according to the report’s publisher.
Currently, the US accounts for roughly half of the value of the senior tech industry, at about $13 billion. In addition to the US and China, the report lists Japan and Canada as other major markets for tech targeted at seniors.
The 360-page report, published by ResearchAndMarkets.com, is titled “Disabled and Elderly Assistive Technology: Global Strategic Business Report”, and was added to the website’s research database earlier this month.
One niche within the overall market, nerve monitoring devices, is expected to grow to a $1.7 billion industry by 2026 according to a recent story in the Health Care Technology Report.
Digital healthcare technology is advancing rapidly, as the healthcare industry was initially slow to transition to new tools, Digital.Health founder Daniel Kraft noted last week. Kraft cited the still widespread use of fax machines as a baffling industry-wide anachronism finally getting phased out.The latter development is an indication that technology is not just growing at the level of personalized assistance like AI or wearable monitors, but within operations and administrative solutions overall, which was one takeaway from a similar study earlier this year.
