Home
All updates- EDGE Insights
Industries
Company Search
My Watchlists (Beta)
Overview & Market size
Market map
Disruptors
Funding history
Competitive analysis
Incumbents
Notable Investors
Related Content- Company list
Age Tech
Overview
Age Tech broadly refers to technology-related products and services targeting the senior population (usually defined as aged over 65). In 2022, seniors were estimated to represent a total purchasing power of USD 3.2 trillion in the US. Age Tech covers the technology solutions to enhance seniors’ quality of life and enable independent living or aging at home. These products and services range from advanced wheelchairs, smart hearing aids, and customized communication devices/platforms to virtual reality (VR)-based monitoring, end of life planning, and platforms for social interaction.
Industry Updates
Market Sizing
The US Age Tech market could reach USD 10.0 billion–15.5 billion by 2027
USD 0.0 Bn
USD 0.0 Bn
USD 0.0 Bn
Market Mapping
The age tech market primarily includes products that enable seniors to age-in-place. This includes five broad segments: 1) products and services promoting Independence, 2) healthcare and wellness related products, 3) caregiver platforms, 4) social and communication platforms, and 5) end-of-life planning.
In addition to the five segments above, the industry also includes products for caregivers and medical professionals. Notably, among the disruptors and watchlist companies, most of the companies catered to the independence and caregiver and healthcare provider technology platforms segments. Around half of the companies identified were in the go-to-market stage.
GenAI-based Tools
Independent Living
Caregiver Platforms
Healthcare and Wellness
Caregiver and Healthcare Provider Technology Platforms
Social and communication platforms
End-of-life planning
The Disruptors
Caregiver platform, Honor is the highest funded disruptor, followed by leading players in the independence segment
The age tech industry comprises a vast range of players, with relatively unique offerings, catering to four broad segments. The broad segments indicate the overall goal of the product; however, companies tend to cater to more niche subsegments in the market. Honor, the largest caregiver platform, enables the elderly and their family to find caregiving professionals, and is the highest funded disruptor across all broad segments.
Leading players in the independence segment are the next highest funded disruptors. This includes innovative hearing-aid manufacturer, Eargo, mobility service provider, WHILL, and digital companionship provider, Intuition Robotics.
Funding History
Competitive Analysis
Incumbents
Acquisitions and in-house development a common entry into the space
Incumbents in the healthcare and wellness related products segments mainly comprise of legacy players in home care or emergency response systems extending their product range to smart wearables, which are often developed in-house. Insurance providers such as Generali Global Assistance and Allianz have entered the space offering bundled senior care products to policyholders.
Acquisitions are common in the caregiver platform segment. Brighter, a Swedish health-tech company delivering smart care solutions for chronic diseases expanded into senior care with its acquisition of Nectarine Health for EUR 1.5 million (approximately USD 1.8 million) in January 2020.
US electronic retail giant Best Buy, has been aggressively expanding its solutions in the space primarily through acquisitions. Amazon has entered the space by leveraging its voice-based assisted living technology, Amazon Alexa.
Notable Investors
