Unify IoT platforms to capture the billion-dollar elderly care market

As the global population ages and life expectancy increases, the need for elderly care solutions becomes increasingly critical. According to the World Health Organization (WHO), in 2020, the number of people aged 60 and older surpassed children under 5; between 2015 and 2050, their proportion will nearly double from 12% to 22%. This demographic shift presents a dual challenge—addressing the increasing healthcare demands of seniors while enabling them to lead independent and dignified lives. This translates into a massive opportunity for enterprises, particularly healthcare providers and IoT solution developers, to create impactful, scalable solutions that redefine elderly care.

Internet of Things (IoT) technology is emerging as a transformative tool. It offers real-time monitoring, proactive health interventions, and enhanced safety measures (see Exhibit 1).

Exhibit 1: IoT solutions help us make aging safe and independent

Source: HFS research, 2025

Overcome fragmentation to unlock IoT’s elderly care potential

While different IoT solutions address critical challenges in elderly care, the market remains fragmented, with disconnected tools failing to deliver much-needed holistic support. Exhibit 2 shows solutions across different segments and how they create value in elderly care, tied to the categories presented in Exhibit 1. These solutions deliver value individually but often leave seniors and caregivers juggling multiple platforms and devices. The lack of an integrated ecosystem creates inefficiencies and missed opportunities for proactive care. Enterprises must focus on creating seamless, end-to-end solutions that address health, safety, and emotional well-being for elderly care to serve the dual value of societal and capital impact.

Exhibit 2: Fragmentation prevents the realization of IoT’s elderly care promise

Source: HFS research, 2025

Create integrated ecosystems to transform elderly care

It is a massive opportunity for enterprises to position themselves in creating integrated platforms and solutions for elderly care to overcome fragmentation in the IoT market for older people. Some solutions in the market demonstrate progress toward integrated elderly care but still highlight significant gaps. Examples include:

• Livindi offers a smart hub with wearable sensors, video communication, and caregiver alerts, addressing health and social needs. However, its limited reach and minimal integration with broader healthcare systems leave room for improvement in scalability and functionality.
• CarePredict uses wearables and AI to track daily activities, detect anomalies, and predict health risks, alerting caregivers promptly. While strong in predictive care, it falls short in providing comprehensive features such as medication management, social engagement, or environmental controls.

Enterprises can build comprehensive ecosystems that combine health, safety, emotional engagement, and environmental adaptability. This integration can significantly improve the quality of elderly care while unlocking a massive market potential.

The Bottom Line: Integrated IoT solutions are key to helping seniors age independently and gracefully while enabling enterprises to accelerate growth.

The elderly care market has great potential. However, fragmented solutions prevent the value from being realized. IoT enterprises must lead the way by delivering a holistic IoT ecosystem that addresses seniors’ complex needs. A broader approach will unlock the full promise of IoT in aged care. To realize IoT’s promise, enterprises must:

• Partner with healthcare providers to pilot integrated solutions.
• Prioritize scalability and seamless interoperability between devices.
• Focus on comprehensive ecosystems that address seniors’ health, safety, and emotional well-being.