Following a high-profile event, frequently used keywords related to smart city construction have once again surfaced.
The 2024 World Digital City Conference, held on November 28th at the Shenzhen Convention and Exhibition Center, focused on low-altitude economy, sensory integration, security and fire protection integration, digital economy, and smart healthcare. The concurrently held 13th China Smart City Summit also attracted a large audience, showcasing the deepening transformation of smart city technologies and markets in the new era.
During the event, Ma Jiguang, General Manager of Homeradar Shenzhen Technology Co., Ltd. delivered a keynote speech on "Seamless Protection, the Healthcare Boom," offering insights into how a city can ensure "a secure and joyful old age" in the era of big health.
Aging is a difficult problem that all of humanity has faced in recent years and will continue to face in the next decade. At the conference, reporters learned a set of data from Ma Jiguang's presentation:
**Aging Population:** In 2023, my country's population aged 65 and above was approximately 217 million, and this number is projected to reach 400 million by 2050.
Market Size: With the intensification of aging, China's elderly care industry is experiencing rapid growth. In 2023, the market size of China's elderly care industry reached 12 trillion yuan, a year-on-year increase of 16.5%. It is estimated that the market size will reach 13.9 trillion yuan in 2024 and is expected to exceed 20 trillion yuan by 2027.
Future Prospects: The market demand is huge, and the supply gap is also enormous. According to incomplete estimates, the current annual supply of products to the health and wellness industry is only around 500-700 billion yuan. There is a significant and effective shortage of supply to meet the continuously strong market demand, representing a vast untapped market. Simultaneously, with policy support, technological innovation, and changing consumer attitudes, the intelligent health and wellness equipment industry will accelerate its development over the next 5 to 10 years, coinciding with the full-scale explosion of the smart elderly care industry.
The reporter has gained in-depth knowledge of Homeradar Shenzhen Technology Co., Ltd., a rising technology company, and has been closely following its development since its inception. In an era of technological downsizing, where existing markets are difficult to activate and new markets are hard to expand, smart healthcare and wellness are both a necessity of the times and another high point for technological innovation. Homeradar Shenzhen Technology Co., Ltd. is a leading provider of millimeter-wave radar products. The company possesses extensive millimeter-wave radar application solutions and is an emerging technology enterprise integrating R&D and production. Rooted in the University of Electronic Science and Technology of China (UESTC) and Nanjing University of Aeronautics and Astronautics (NUAA) systems, the company holds numerous invention patents and can provide consumer-grade radar sensor products based on multiple frequency bands such as 24G and 60G. Its product series covers intelligent products such as precise human presence sensors, fall alarm sensors, and sleep apnea monitoring sensors. Currently, its products are integrated into the Tuya/Mijia platform and support integration with third-party platforms.
To provide seamless protection in the booming smart healthcare sector, Homeradar Shenzhen Technology Co., Ltd. aims to integrate its products and technologies around people's daily lives—from clothing and food to housing, transportation, birth, aging, illness, and death—providing comprehensive, all-encompassing care for life. Their products are divided into two main product lines: fall detection and sleep monitoring. From an application perspective, such products are not uncommon in the market, but they also have shortcomings. For example, there are issues with the loss or forgetting to wear wearable devices, privacy concerns with cameras, the passivity and delays of alarms, and the high cost and positional limitations of mattresses and pillows. Of course, every product has its strengths and weaknesses depending on its application. Homeradar Shenzhen Technology Co., Ltd.'s millimeter-wave radar products contribute to a more diverse and technologically advanced market with a wide range of applications.
To this end, their company offers millimeter-wave radar products for the health and wellness market, providing high precision to measure the motion amplitude of objects as small as 0.1mm; low hardware and cloud costs; and privacy protection without requiring carrying or wearing. According to the introduction, Homeradar Shenzhen Technology Co., Ltd.'s vitality monitor detects subtle movements at the respiratory level to determine whether someone is in a room, and whether they are active or stationary. Even if someone is stationary within the detection area, it can confirm their presence without compromising camera privacy, and then link it to lighting and home systems. The sleep monitor detects characteristics such as bedtime, sleep status, and sleep duration; it assesses sleep quality through a sleep evaluation system, and data sharing allows caregivers to monitor family members' routines, suitable for relatively private scenarios such as bedrooms and living rooms. The fall alarm radar records the range of human activity and dwell time. It outputs warnings for falls and immediately pushes alarm information to platforms such as apps in case of a fall, allowing children and community organizations to be notified and provide assistance promptly, suitable for slippery and relatively private scenarios such as bedrooms, bathrooms, and toilets.
From this perspective, there are numerous innovative scenarios and products for smart elderly care within a family, making the elderly care market a truly meaningful blue ocean market. Ma Jiguang also stated at the end of his speech that Homeradar Shenzhen Technology Co., Ltd. looks forward to working hand in hand with partners to contribute to the elderly care industry and witness the brilliance of this era together.
