While a majority of boomers hope to stay in their homes and remain independent as they age, only 21% of them are planning to incorporate technology solutions or remodel and retrofit their homes to make doing so possible.
This technology innovation gap is widening for a population that will nearly double to 83.7 million by 2050, according to a study released by Philips and the Global Social Enterprise Initiative (GSEI) at Georgetown University’s McDonough School of Business.
Nearly 80% of 60- to 80-year-olds are not thinking about or are not sure whether they will upgrade or update their homes with new technologies, which they perceive as being costly and not important.
Three in five respondents say they’re not interested in upgrading their home; 33% say upgrades are too costly; 42% say upgrading in-home technology is too expensive; and 25% say they’re not interested in upgrades at all.
But some show a willingness to invest in types of technology for things they use regularly, such as stove tops or ovens that automatically shut off, a remote control to manage everything in the home and driverless cars.
“Now is the time that we need to urgently and collectively shift focus to reduce the barriers and increase education on new innovations in technology that bring peace of mind, safety and convenience to aging seniors,” Brent Shafer, CEO of Philips North America, stated in the report.
To read the full report, click here.
Written by Emily Study