Page 18 - IoT_European_Large-Scale_Pilots_Programme_eBook_CREATE-IoT
P. 18
MARKET
18 CONTEXT
IoT-DRIVEN INNOVATION IN ACTIVE AND HEALTHY AGEING
AGEING OF THE SOCIETY
Proportion of populat
Active and Healthy Ageing is a major societal challenge, linked AGEING OF THE SOCIETY ion aged 60 years or older,
with the development of several intertwined markets: healthcare, by country, 2050 projections
assisted care, but also lifestyles solutions in fitness, housing or
transportation. All these applications will rely heavily on digital
technologies and the IoT.
Market Perspective: Seniors to become a large social group with
high purchasing power
• By 2050, 65+ will represent 17% of world (and 28% of European)
population
• Seniors will fuel consumption in developed countries due to
longer life expectancy and rising purchasing power
Source: WHO, 2015
OPPORTUNITIES THREATS
Ageing of the society: 60+ population is Shortage of health workers projected by 2020
Ageing of the society: 60+ population is growing faster than
other younger age groups
growing faster than other younger age groups due to ageing population
Age-related public expenditure in Europe
Age-related public expenditure in Europe accounted for 8% of GDP and
accounted for 8% of GDP and for 40% of total Vast majority (around 80%) of older people will live
for 40% of total social spending in 2012 and is expected to grow
social spending in 2012 and is expected to grow in low-income countries by 2050*
Source: IDATE data for CREATE-IoT 2019, * World Health Organization

