Serenity Engage is honored to have been recognized in the For Senior Living category in this year’s edition of the AgeTech Market Map.
TheGerontechnologist AgeTech Market Map reports on the latest statistics and trends on the challenges and advancements our older adult population has experienced over the last year and continues to the present day. The 2022 edition recognized Serenity Engage’s pivotal role in the advancement of senior care technology developments and the important role real-time communication plays across the senior care ecosystem.
Check out the below excerpt from the 2022 AgeTech Market Map. The full piece featured on TheGerontechnologist can be found here.
What Is AgeTech?
AgeTech is technology that’s designed to meet the needs of older adults and those who care for them, and includes older adults (and other stakeholders) in the design process. According to estimates, the AgeTech market is expected to reach $2 trillion.
The Case for AgeTech in 2022
Our world is going through an unprecedented demographic shift. Never in human history have we had so many people reach old age. Today, there are ~1 billion people over the age of 60 living on this planet, many of them are healthy and active and have discretionary income. The population over the age of 60 is growing faster than any other age group, by 2050, 20% of the world’s population (~2 billion people) will be over the age of 60.
In 2022, people who can expect to live an 80, 90 or even 100 years, can also expect to have more healthy and active years after leaving the labour market – this created new opportunities for entrepreneurs, to create offerints that will enable generations of older adults to live their best life post retirement. The increase in life expectancy also creates a new set of challenges.