Seniors, usually defined as individuals over the age of 65, are a key part of the US population. With advancements in technology and healthcare, the life expectancy of individuals has been steadily increasing, resulting in seniors making up a larger portion of the general population and amassing more wealth. With these advancements come opportunities to help seniors age in place or live independently, make healthcare more accessible, find caregivers more easily, make caregiving more straightforward, engage in social activities, and plan their estates. The Age Tech industry focuses on these aspects of seniors’ lives.

Age Tech solutions fall into six categories: independent living, caregiving platforms, healthcare and wellness, caregiver and healthcare provider technology platforms, social and communication platforms, and end-of-life planning solutions. These solutions aim to help seniors enjoy their senior years and make use of ever-evolving technological advancements while maintaining their place in society. 

The growth of the Age Tech market is enabled by factors such as technological advancements making these services more accessible, while driven by factors such as the increasing senior population, comparatively high wealth levels of seniors, caregiving shortages leading to a rise in alternatives, and a growing willingness among seniors to lead more active lives. Factors such as a lack of willingness to share personal data and resistance to adopting new technologies, however, pose risks to the industry.