Mobile PERS Disruptors Will Increase 4X Faster
Technology adoption by seniors and disabled adults presents challenges and opportunities for mobile PERS providers. Although products like smartwatches, smart speakers and home automation systems tend to be more common with youths, older consumers are rapidly joining them.
ON World’s surveys with 900 online adults aged 55+ found that smartwatches are the most used medical alert device followed by wrist bands, sensor networks, then pendants. For the portion who have been screened as early adopters, 1 in 5 use a smartwatch daily which is a similar rate to all adults. Also, 1 in 4 of the early adopters 55+ use a smart speaker daily.
These developments are disrupting the medical alert market, especially vendors and service providers of mobile Personal Emergency Response Systems (PERS). In contrast to traditional landline based PERS system, the latest innovations for Internet-connected PERS solutions come from multiple industries including consumer electronics, security services, Internet/mobile providers and retail.
Medical alert IoT solutions are rapidly evolving from single purpose systems to integrated, multi-application platforms. Startups and newer entrants such as Amazon’s Together service, Aloe Care Health, Comcast spin-off Quil, Sensorscall, CarePredict are bridging the gap between traditional PERS systems and consumer IoT. Acquisitions such as Best Buy of GreatCall and Connect America of the Aging and Caregiving Group from Philips signifies this transition.
By 2026, annual revenues for Mobile PERS solutions will reach $2.1 billion up from $1.2 billion in 2019. Emerging solutions outside of the traditional PERS industry will increase 320% faster and make up nearly 40% of the revenues by this time.
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