Targeting the untapped market of wearables for elder care

Senior doing stretching after running.Today’s 20-something tech wizards might not worry about the challenges of old age — but they should.

Seniors represent a huge untapped market for tech companies. While just 13 percent of America’s population is 65 or older today, that slice will jump to 19 percent by 2030.

One area that holds particular promise? Wearables.

Such technology is already supporting healthier lifestyles. More than 20 percent of Americans are using wearables. Ralph Lauren, Adidas and other top brands have developed smart wear to help people optimize their workout routines.

Wearables that foster healthy aging and independent living will soon fill seniors’ wardrobes. With recent advances in nanotechnology, “smart clothes” that monitor seniors’ health and remind them to take their medications are on the way. Analysts predict that medical applications will soon account for the largest share in the smart textile industry, reaching $843 million by 2021.

By Rahmat Shoureshi | TechCrunch

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