Aging in Place: The Digital Home Health Boom
As marketing manager for Home Controls, I have been helping custom electronics professionals promote their automation, networking and security businesses. I talk about branding, web presence, marketing materials, social media, networking, training and referrals. In the past few years, I have also been encouraging our dealers to expand into the aging-in-place market by offering digital home health systems.
Why? That's a good question. If you don't know much about the aging-in-place market, then you can argue that creating a dynamic home theater system, complex security system or elaborate home network is drastically different than creating an environment suitable for a loved one who is striving to live independently as they grow older. From my perspective, however, your knowledge and experience as a custom electronics professional is ideal to enter this new and growing market.
Here's why you should consider adding home health tech to your business portfolio.
As the housing market is shrinking—along with a lot of the custom electronic businesses—the senior population is booming. The numbers are staggering.
"Between 2010 and 2050, the United States is projected to experience rapid growth in its older population," the U.S. Department of Commerce reports. "In 2050, the number of Americans aged 65 and older is projected to be 88.5 million, more than double its projected population of 40.2 million in 2010."
There were 35 million seniors in 2000. That number grew to more than 40 million in a decade. In the next two decades, by 2030, that number will skyrocket to 70 million, and up to around 88.5 million by 2050. An extended outlook projects that there will be 1 million people older than 100 years of age by 2050.
This increase can be attributed to the Baby Boomer population coming of age this year. According to the Pew Research Center, Boomers are turning 65 at a rate of 10,000 people every day—a rate that will continue for the next two decades!