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Those ages 50 and older in the U.S. generate $7.6 trillion in economic activity, according to AARP, representing a huge financial force. That trend will grow as the number of older adults more than doubles by 2050, representing over 20% of the population.
As these boomers age, they want to do so actively, gracefully and independently. Technology is being viewed as the big disruptor that will allow them to achieve those goals. And that’s presenting a huge opportunity for entrepreneurs developing these types of products.
“We’re already seeing some really interesting ways technology is being used to help people as they age,” said Ben Jonash, an author of The Future of Aging by the Deloitte Center for Health Solutions.
The broader demographic trends will fuel large growth of these types of companies in the coming years, says Jake Nice, a principal in Nationwide Ventures. “We’re in the early innings of what’s going to be a very large market,” he said.
The so-called active aging industry in the U.S. — which includes safety and smart-living technologies, health and remote care, and wellness and fitness technologies — is expected to triple in…
This article was sourced from CNBC.