Technology for You (2021-06-25)
“There are different reasons as to why consumers would wish to track their pets, their children, and their elderly or vulnerable family member, but the most significant reason is safety,” says Harriet Sumnall, Research Analyst at ABI Research.
Improved healthcare is resulting in a world population that is living a lot longer, with an average life expectancy of 75-80. “Larger populations of elderly people increase the pool of seniors with dementia or Alzheimer’s that will require tracking services for their health and safety.” Sumnall explains. “Ultimately these devices offer the ability for the vulnerable to continue to live their lives as they do, but with that extra safety precaution put in place which offers family members and caregivers peace of mind,” Sumnall adds. SoS features, offered by companies such as MindMe, are critical in tracking devices for the elderly. The elderly tracking market is forecasted to grow at a CAGR of 42%; North America will have the largest installed base of 15 million by 2026.