Let’s start with a definition of Family Tech. To me, it’s “connecting parents with their kids in meaningful ways via technology.”
In the US, there are 23M families averaging 2 children aged 3–11 (source: childstats.gov and cia.gov). The parents are most likely from Gen X, birthdates ranging from the 1960s to the early 1980s.
I know this generation very well because I’m one of them. We are born with computers and video game consoles, we saw the digital transformation, the birth of high speed internet, the smartphones and electronic gadgets of all kinds.
“Currently, I see three forces overlapping, creating a fantastic market window: technology force, economic force, social force. To me, it indicates that 2016 might be the year for Family Tech.”
Thanks to the miniaturization of the electronic parts, their low energy consumption and the fact that more than 2B people own a smartphone, thousands of connected objects are flourishing: smart home systems, wearables, activity trackers to name a few.
Moreover, with prototyping tools more accessible than ever before, a lot of entrepreneurs jumped on the hardware trend. It’s not anymore needed to raise millions of dollars to build a products up to the Design For Manufacturing.
Like their dimensions, the prices of the electronic components have dropped significantly these past years. For instance, a GPS chip measuring only 2.99 x 3.21 x 0.59 mm costs less than $5.
The result? Good products at affordable prices. Technology is now mainstream.
Our generation is willing to trust technology with their kids. There are still some doubters, indeed, but in majority we are convinced of all the benefits technology brings, from freedom to personal development.
Awesome products in the pipes
Until now, this market window didn’t benefited to the families. However, some awesome products are in the making (and we can thank crowdfunding websites like Kickstarter and Indigogo to facilitate the go-to-market of hundreds of new start-ups).
ILY, The Family Phone; Torch, the smart wifi router for the families; Family Band by Joy, the smart wristband to Communicate, Geolocate and Play or Nabi, the fitness tracker for kids are some examples of innovative products that will help both parents and kids to live a better life.
It’s just the beginning
Family Tech (#familytech) will hopefully come with good surprises. First, for the children: they will get tools that will empower them, give them more freedom and more autonomy. Then for the parents: they will help their kids to progress and grow more safely while also keep under control their activities.