CTA Report: Active Aging Tech Can Help 85 Million Americans

For retailers seeking to find the next big market that they could benefit from, they might want to consider the aging tech market. According to a new report from the Consumer Technology Association released this week, the current market for active aging technology encompasses some 85 million Americans—roughly more than a quarter of the national population.

The CTA Foundation whitepaper, “CTA Market Report: Active Aging,” said that the active aging market, which consists o both seniors and their family caregivers, represented a $24.4 billion market opportunity in 2015 and will only continue to grow. By 2020, the market or aging tech will grow to $42.7 billion, according to CTA, representing a 12 percent compound annual growth rate over the next five years.

Active aging tech includes products that support a proactive way of living that balances growing older with the active pursuit of quality of life, CTA explained.