TelecomTV TelecomTV
  • News
  • Videos
  • Channels
  • Events
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • Open RAN
  • Digital Platforms and Services
  • 5G
  • Access Evolution
  • Private Networks
  • Cloud Native
  • Edge
  • Open Networking
  • Sustainability
  • AI, Analytics and Automation
  • 6G Research and Innovation
  • Security
  • More Topics
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • |
  • About
  • Contact
  • |
  • Connect with us
  • 5G
  • 6G Research and Innovation
  • Access Evolution
  • AI, Analytics and Automation
  • Cloud Native
  • Digital Platforms and Services
  • Edge
  • Open Networking
  • Open RAN
  • Private Networks
  • Security
  • Sustainability
  • Connect with TelecomTV
  • About
  • Privacy
  • Help
  • Contact
  • Sign In Register Subscribe
    • Subscribe
    • Sign In
    • Register
  • Search

Internet of Things

Internet of Things

Strategy Analytics: smart home elderly monitoring opportunity is set to grow more than 600% by 2020

Via Strategy Analytics Press Releases

Jun 8, 2016

A third of the target audience is willing to pay $23 per month for compelling elderly monitoring solutions.

Boston, MA - June 1, 2016 - A recent study by Strategy Analytics concludes that the market for elderly monitoring products and services in the Smart Home remains small in 2016 despite favorable market conditions and high levels of consumer interest. However, the new report, titled Smart Home Application Focus: Elderly Monitoring , predicts steady growth over a five year period as market forces and improved product offerings help to spur adoption.

Strategy Analytics estimates that in 2015 fewer than 75,000 homes in the US and 30,000 homes in Western Europe used technology solutions for elderly monitoring. By 2020, the user base is set to grow to more than 600,000 homes in the US and 579,000 homes in Western Europe, an increase of more than 600%, opening up new opportunities for providers of technology solutions for elderly monitoring.

Notably, conditions for growth in this category are favorable, with individuals living significantly longer lives. At the same time, the costs of in-home healthcare and nursing facilities are on the rise; the elderly and their families are willing to pay for technology solutions that make aging in place possible. In Strategy Analytics’ most recent Smart Home Consumer Survey, 34% of respondents with elderly relatives 70 years of age or older and living apart from them at a separate residence reported an interest in free services for elderly monitoring, while 30% reported a willingness to pay these services.

While the elderly and their families report a willingness to pay for technology solutions that make aging in place possible, the fact is that the overwhelming majority of them still haven’t made a purchase.

According to Joe Branca, Senior Industry Analyst, Smart Home Strategies at Strategy Analytics, “There aren’t currently any solutions on the market that integrate the physical, cognitive, social, and nutritional elements of elder care, and incorporating new features along these lines would help to deliver more value to elderly individuals and their families.” Current key players in the US are Alarm.com, Nortek Security & Control, Lively (GreatCall), and Care Innovations. In Western Europe, LivOn, Essence, and Dutch Domotics are among the companies offering solutions in this space.

The new report contains a detailed analysis of key market drivers, the size of the opportunity for companies providing solutions in this space, and the value chain behind elderly monitoring solutions. It provides an analysis of the competitive environment as well as commentary on the landscape for emerging technologies.

Related Topics
  • AI, Analytics & Automation ,
  • Data & Analytics,
  • Device Software & Apps,
  • Digital Platforms & Services,
  • Internet of Things,
  • News,
  • North America,
  • Research and Trials,
  • Strategy Analytics,
  • Tracker

More Like This

Access Evolution

What’s up with… GSMA, Verizon, Semtech

Aug 3, 2022

5G

What’s up with… US mid-band auction, TIM, Thales

Aug 1, 2022

Access Evolution

Telefónica integrates terrestrial 5G and LEO satellites for extensive IoT reach

Jul 20, 2022

Access Evolution

Wireless Logic acquires Mobius Networks

Jul 19, 2022

5G

Anritsu and Yotavis launch a unique open lab for communication technologies testing in Switzerland

Jul 19, 2022

This content extract was originally sourced from an external website (Strategy Analytics Press Releases) and is the copyright of the external website owner. TelecomTV is not responsible for the content of external websites. Legal Notices

Email Newsletters

Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.

Subscribe

Top Picks

Highlights of our content from across TelecomTV today

0:46

The Cloud Native Telco Summit returns this September!

8:32

Azita Arvani on Being a Female Leader at Rakuten Symphony

16:19

AT&T Amy Zwarico on securing telco applications in the public cloud

1:44

Join us for the greatest industry debate of the year!

TelecomTV
Company
  • About Us
  • Media Kit
  • Contact Us
Our Brands
  • DSP Leaders World Forum
  • Great Telco Debate
  • TelecomTV Events
Get In Touch
[email protected]
+44 (0) 207 448 1070
Connect With Us
  • Privacy
  • Cookies
  • Terms of Use
  • Legal Notices
  • Help

TelecomTV is produced by the team at Decisive Media.

© Decisive Media Limited 2022. All rights reserved. All brands and products are the trademarks of their respective holder(s).