The Market of Caring Things.

Join the Internet of Caring Things team as we explore and explain the market surrounding connected devices that enable us to care about ourselves and all that we care about. Two-thirds of the world’s population will be 65 years and above by 2050 according to the UN, and the projection for the global ageing economy is already estimated to reach $27 trillion by 2025 – there will be more people ageing and living longer.

We know that the growth in new technologies will benefit healthy ageing and longevity by enabling people to live healthier, more fulfilling lives at all ages. Many innovations have been designed to keep people physically and mentally active and enable independent living such as by detecting falls, smart home technology, early detection of diseases and management of disease conditions, maintenance of social connections by reducing social isolation and continued engagement in the workforce, to name a few. To ensure we reap the benefits of technology on ageing and longevity, we must design technologies that are inclusive and benefit all. Important for businesses to consider that:

• Of adults 65 and older 67% go online, 80% own a cellphone 40% own a smartphone we ask if you are missing out on a huge and lucrative market for your tracker, data-gathering device or connected technology by not including and marketing to this demographic?
• We know that 85% of 65+ want to stay in their own homes and certainly their own communities as they age.
  

IoCT devices can enable that by utilising connected devices, making social connections, providing mental stimulation, increasing safety, encouraging exercise, helping with health care and importantly delivering fun. Innovations linked to IoCT and Healthy Ageing such as sensors to detect falls, and wearable devices to monitor health are the more obvious connected solutions and should be celebrated.

But there is so much more we can do. By challenging the notion of ‘care’ and focusing on what people care about, we aim to explore the potential to develop new or redesign existing products that could have a major, positive impact on our health and well-being and those around us, through life. IoCT expands on the idea of how caring – for example for our pets or gardens or the Planet itself - can also give us or our loved ones an indication of our health and well-being.

In the UK citizens in the 55+ consider the following as essential to a good quality of life: Spending time with family 61% or friends 25%, a Comfortable Home 54%, Spending time outdoors 34% and exercise 23% Throw in wanting a job they enjoy 13% and learning new skills and Hobbies 10%.

This event will be good for businesses that are producing connected products and services that allow us to care for ourselves and the things we care about and the supply chain that surrounds it, along with people who are interested in changing the conversation about ‘care’, what it is and whose responsibility is it.

Agenda to follow soon.

Internet of Caring Things

The Internet of Caring Things is a network of connected devices and services with a clear mission: to actively care for people – their physical and mental well-being – and what really matters to them – such as leisure, safety and security, pets, planet, sustainability and connecting with family and friends.

This event is brought to you by Ageing Intelligence® and the Internet of Caring Things programme as part of the UK National Innovation Centre Ageing (NICA).

Your personal data will be stored securely in line with regulations set out under GDPR. Registration data may be shared with essential programme and event partners or the funder for the purpose of the IoCT programme and evaluation.

If you have any questions about the event or are interested in learning more about the Internet of Caring Things programme, please contact: [email protected]

About Ageing Intelligence® and the Internet of Caring Things programme

A £5.6 million pound project running through to 2027, the Ageing Intelligence® and the Internet of Caring Things programme is delivered by U.K. National Innovation Centre Ageing (NICA), VOICE® and Centre of Process Innovation (CPI) to support economic growth and improve the health and wellbeing of those living and working in the North of Tyne. Together we are developing the first network of connected objects and cognitive systems with a clear mission: to actively care for people and what matters to them.

This project is part-funded by the North of Tyne Combined Authority and Newcastle University, in partnership with Centre of Process Innovation (CPI).

The North of Tyne Combined Authority is a partnership of three local authorities: Newcastle City Council, North Tyneside Council, and Northumberland County Council and the North of Tyne Elected Mayor. Find out more at: https://www.northoftyne-ca.gov.uk/

Host or Publisher The UK's National Innovation Centre for Ageing