Age Tech: The Market Where Everyone is a Potential Consumer
What you need to know: Worldwide, the number of people over 65 totals 635m and could rise to 2B by 2060. The people getting older and living longer want to age comfortably at a home, but a lack of connectivity and social isolation makes it difficult. Venture capital funds have started investing tens of millions in age tech.
How you can capitalize:
- Improve connectivity and decrease social isolation through the sharing economy. Examples include Silvernest, which is a roommate service targeted at seniors.
- Turn any number of clinical treatments or technologies into a direct to consumer service that reduces doctor and hospital visits.
- Use voice technology and other technologies to transform homes into areas where elderly people can feel more connected and where data can be collected on their well-being.
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