SYNOPSIS:
Retailers, service providers, and device manufacturers are expanding the market of technology solutions that help seniors live safely and well in their homes. The research analyzes the existing and anticipated independent living needs among people ages 65 and older, as well as their family caregivers. It explores seniors' use of technology, attitudes towards and use of PERS and telehealth solutions, and tests interest and likelihood to buy selected solutions and services, including those enabled by smart home technologies and products.
Key questions addressed:
- What is the market for family caregiving solutions?
- What are the drivers and barriers of solution adoption?
- Which channels do consumers most prefer acquiring solutions from?
- What features and functionalities do family caregivers look for in solutions?
- How does the independent seniors market differ from the family caregiver market?
- How are seniors approaching the telehealth and connected health device markets?
ANALYST INSIGHT:
"Fragmentation is a key challenge in the independent living solutions market. Many family caregivers remain unfamiliar and uncertain as to which solutions are available, what they have to offer, and where they are available." - Kristen Hanich, Director, Research, Parks Associates.
Table of Contents
Survey Methodology and Definitions
Key Terms and Definitions
Executive Summary
- Family Caregiver Reported Penetration of Independent Living Solutions
- Likelihood of Buying or Hiring Independent Living Solutions
- Preferred Purchase Channel by Technology Adoption Segment
- Top Features of Independent Living Solutions by Loved One's Residence Type
Market Sizing
- Market Size of Family Caregivers
- Family Caregiver Age Distribution
- Family Caregiver New Technology Adoption
- Residence Type of Loved One
- Loved One's Independence
- Level of Independence by Residence Type
- Loved One's Independent Living by Seniors' Age Group
- Actions Taken to Protect Seniors by Family Caregivers
- Actions Taken to Protect Seniors by Loved One's Independent Living
Adoption of Family Caregiver Solutions
- Family Caregiver Reported Penetration of Independent Living Solutions
- Overlap in Family Caregiver Solutions Adoption
- High Familiarity with Independent Living Solutions
- Familiarity Among Those Age 50+
- Use of Independent Living Solutions by Loved One's Independent Level
- Residence Type of Independent Living Solution Recipient
- Use of Senior Care Professional Services
User Experience and Preferences
- Satisfaction with Independent Living Solutions
- Technical/Other Issues Encountered with Independent Living Solutions
- Preferred Set-Up and Support
- Valuable Features of Independent Living Solutions: Safety Features, Health Features, Communication & Engagement Features, Home Living Features
- Valuable Features of Independent Living Solutions by Loved One's Residence Type
Buyer Demand and Purchase Channels
- Likelihood of Buying or Hiring Independent Living Solutions
- Likelihood of Buying Solutions by Age of Loved One
- Preferred Devices Added in DIY Packages
- Top 10 Preferred Devices Added in DIY Packages by Technology Segment
- Top 10 Preferred Devices Added in DIY Packages by Age of Loved One
- Purchase Channel Among Current Independent Living Solutions Adopters
- Preferred Future Purchase Channel Among Independent Living Solution Intenders
- Preferred Purchase Channel for Independent Living Solutions
- Preferred Purchase Channel by Technology Adoption Segment
- Barriers to Independent Living Solution Adoption Among Family Caregivers
Independent Seniors Market
- High Familiarity with Independent Living Solutions Among Seniors' Age Group
- Personal Use of Independent Living Solutions
- Satisfaction with Independent Living Solution
- Problems Experienced with Independent Living Solution Personal Use
- Consideration for Independent Living Solutions Among Seniors
- Preferred Set Up and Support for Independent Living Solutions
- Independent Living System Preferred Purchase Channels
- Preferred Channels Among Home Security System Owner
- Age Group Differences in Preference
- Preferred Provider by Independent Living Solutions
Telehealth Use and Preferences
- High Familiarity with Telehealth/Virtual Visit Services
- Telehealth Users Among Seniors
- Use of Telehealth Modalities Among Seniors
- Telehealth Service Channels Among Seniors
- Appeal of Telehealth Capabilities Among Seniors
- Impact of Telehealth Capabilities on Choice of Care Provider
- Reason for Using Telehealth Among Seniors
- Reasons for Seeking Care via Telehealth Services Among Seniors
- Consumer Perception of Telehealth Service Quality Among Seniors
- Preferred Telehealth Device Platform by Seniors
- Appealing Care Type via Telehealth Services Among Seniors
- Barriers to Telehealth Use Among Seniors
Connected Health and PERS Adoption and Use
- Connected Health/Medical Device Adoption Among Seniors
- Wearables Brand Adoption Among Seniors
- Willingness to Pay for Health-Related Wearable Features Among Caregivers
- Willingness to Pay for Health-Related Wearable Features Among Seniors
Appendix