07/07/2014 02:10 pm ET Updated Dec 06, 2017

Why Senior Citizens Could Be The Next Frontier For Tech Companies

As tech companies focus on becoming faster, hipper and younger with their designs, they could be missing out on huge opportunities with a growing demographic -- senior citizens.

In a recent HuffPost Live conversation, Michael Hodin, executive director of The Global Coalition on Aging, explained that the older generation could be the next frontier for tech products.

As demographic trends show, this older population is growing quickly and could offer huge marketing opportunities for tech companies. In fact, due to “stunningly low birth rates,” there will soon be more people over 60 years old than under 16, Hodin told host Alyona Minkovski.

And this growing demographic has disposable income to spend, giving it huge marketing potential.

“By 2032, the over-50 crowd will spend $13.2 trillion annually, one-half of of the U.S. GDP,” Hodin said.

New wearable technology, like Google Glass, could be of particular use for those who are struggling with the beginning stages of Alzheimer's disease.

“You’re walking down the street on your way to get something at the grocery store and you forget where you’re going or what you want to get, and Google Glass can help you remember it and give you the map to get there,” Hodin said.

Watch the full HuffPost Live conversation about technology below:



Wearable Tech