The State of AgeTech: Insights in Brief

Source: AgeTech Collaborative from AARP. The State of AgeTech: Insights in Brief

The report highlights the unprecedented surge of Americans turning 65, emphasizing the economic influence of those over 50, who generate $8.3 trillion annually and will account for 61 cents of every dollar spent by 2050. AgeTech—technologies tailored to support aging populations—represents a booming sector transforming senior living by enhancing autonomy, supporting caregivers, and facilitating aging in place. The report details major segments: Caregiving (noting 38 million caregivers providing nearly $600 billion in unpaid care in 2023), FinTech (identifying four distinct financial attitude clusters among those 50+), Smart Home, AI, and Inclusive Design. These innovations help address complex medical and daily care at home, deliver culturally compatible caregiving, and offer financial tools aligned with emotional as well as practical needs, reflecting the diversity and growing needs of an aging population (AgeTech Collaborative from AARP, 2024).