ASIA: Southeast Asia’s ageing population will grow significantly in the coming decades, creating challenges and opportunities for healthcare and social services.
SGX-listed iWOW Technology is capitalising on this trend through Age-Tech products that help seniors stay safe, connected, and independent.
By 2042, over 14% of Southeast Asia’s population will be aged 65 and above. Thailand and Singapore have already reached this stage, and other countries, including Malaysia and Indonesia, are not far behind.
Thailand is expected to have nearly 20% of its population over 65 by 2030, rising to a third by 2050. Malaysia is projected to become an “aged nation” by 2040, with about 17.3% of its population, or 6.4 million people aged 60 and above, up from the current 11.6%.
In Indonesia, the elderly population (aged 60 and older) is expected to grow by 275%, from 23 million in 2015 to 63.3 million by 2045, making up nearly 19.9% of the population.
Singapore will also become a “super-aged” society by 2026, a term defined by the World Health Organization when more than 20% of the population is aged 65 and above. In 2023, 19.1% of Singapore’s population was already 65 and older, due to declining birth rates.
iWOW, established in 1999, offers wireless Internet of Things (IoT) solutions designed to address the needs of an ageing population.
Its Age-Tech products, such as the Buddy Of Parents (BOP) Monitor, BOP Presence, and BOP Button, are designed to keep seniors safe, connected, and “age in place with dignity.” /TISG
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