Parks Points

Smart Home Solutions Make Independent Living More Comfortable and Safe

by David Mitchel | Jan. 10, 2018

The U.S. population is greying, due in large part to the aging of the sizable Baby Boomer generation.

When looking at home living needs across all ages, it’s not surprising to see that wealth and health management are the most highly rated needs. Without health and money, life is a lot more difficult, if not impossible. Having health and money makes it easier for people to live with ease and convenience at home. For decades, personal finance experts and financial services companies have persuaded the public to develop saving and investing plans for retirement years, and yet many are ill prepared for the financial needs of retirement. Additionally, health outcomes for the U.S. leave much to be desired, and will need to be addressed in the future both at the individual level and at the collective level.

With an aging population that desires independent living, it is expected that there will be an increase in demand for home living services, as well as smart home devices and services. These devices and services aim to be solutions that will make aging more comfortable and safe, reduce caregiver burden, and enhance quality of life. Current/future caregivers, pre-retirees, and retirees intending to extend their period of independence have the opportunity to benefit from solutions either currently on the market or coming to market in the near future.

Perceived Importance of Home Living Aspects

David Mitchel

David Mitchel

Research Analyst

David Mitchel is part of the Parks Associates Consumer Analytics research team. He studies market and consumer trends in a number of areas, including Access & Entertainment, Connected CE, Energy Management, Connected Home Systems, Digital Media, Digital Health, and Mobile Devices.

Prior to working at Parks Associates, David spent 5 years working in a variety of marketing roles, gaining experience in a variety of industries. He earned a BA in Communication from the University of Arizona and an MBA from Thunderbird School of Global Management.

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