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Silver economy turns smarter as seniors seek trendier lifestyles

(People's Daily Online)    15:14, April 01, 2019

As the elderly across the world are seeking trendier lifestyles, the silver economy is gearing up to offer more smart and intelligent services.

It’s not something new that the seniors are popping up on Internet – a place used to be considered a world of the young generation.

According to a joint survey conducted by Google and market research company Ipsos, 59 percent of the US citizens above 67 logged on social media networks at least once a day.

The Ministry of Internal Affairs and Communications of Japan also said in its report that the seniors are growing as a powerful consumer group of high-tech and smart products.

The world was home to only 900 million people above the age of 60 in 2015, according to UN data. However, the figure is expected to rise to 2.1 billion by 2050, or one in five people.

By 2050, people aged 50 years and over will account for 33.5 percent of the world’s total population, up from 17.8 percent in 2000, and the silver economy market will grow to $15 trillion in 2020, said Merrill Lynch.

At present, intelligentized products have already become a highlight of the silver economy. For instance, the medical robots at the University of California Hospital, San Francisco walk 185 kilometers per day to deliver medicine and food to the patients. In addition, they can also change bedsheets and clean medical waste.

In Japan, over 70,000 nursing robots are currently taking care of the elderly at their homes. In addition, a large number of smart appliances are flocking into the market, such as positioning devices that track Alzheimer's patients, and wearable devices that detect the risks of seniors falling off.

Such technologies can energize the market as they improve the life quality for the elderly.

The senior group is not outdated. They are in need of not only more smart products, but intelligent social management. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hongyu, Bianji)

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