Enabling Independence: Connected Solutions for Seniors and Caregivers

Over the next several decades, the number of Americans ages 65 and older will double to over 80 million by 2050. Three out of four consumers ages 40 and older expect to live in their own homes when they turn 80, and the costs of assisted living facilities will make aging in the home the only option for many Americans. Service providers, professional security monitoring and PERS monitoring companies, which have existing footprints in the home, are exploring opportunities to serve this population.

This report assesses the aging with independence market and highlights leading use cases, including safety, medication management, wellness, and social engagement. It profiles leading efforts from service providers and product manufacturers, examines business models and partnership requirements, and includes a five-year forecast of PERS and sensor-based independent living solutions for seniors at home.

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Bottom Line

The PERS Spectrum

Alternative Emergency Solutions

Messaging for PERS: Empowering the User

Business Models

Opportunity in the Security Channel

Innovation

PERS Five-Year Forecast

Implications and Recommendations

Appendix

Citations

Attribution

PERS Adoption
The Senior Assistive Solution Spectrum
Emergency Response Devices Appealing to Caregivers
Mobile Phones as a PERS Alternative
Smart Watches as a PERS Alternative
Smart Speakers as a PERS Alternative
Residential Security as a PERS Alternative
PERS Purchase Channels
Examining the PERS User Base
Consumer Interest in Security System Features
PERS Technological Innovation & Product Design
US PERS Forecast – Users
US PERS Forecast – Revenue

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Disclaimer
Parks Associates has made every reasonable effort to ensure that all information in this report is correct. We assume no responsibility for any inadvertent errors.

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