Who will crack the code on tech for seniors?

While dozens of startups pour time and money into developing mobile health devices for the young, hale and hearty, they might be better off going grayer.

The opportunity to sell technology to senior citizens is huge now and will only get bigger as more of us age into that segment. Which vendors will be best positioned to capitalize on this opportunity -- a handful of early movers that are already in the market, or vendors like Fitbit or Jawbone that focus on younguns?

“Developers making technologies for the 20- and 30-somethings are missing a huge opportunity to supply the 100-million-plus people aged 50 and over in this country,” Laurie Orlov, an analyst with Age In Place Technology, said in an interview.

She estimates that this market is worth $2 billion now and will hit $20 billion by 2020. Semico Research puts the number higher, forecasting that the market for gear like remote health monitors, oximeters, glucose monitors, medication reminders, heart rate monitors, safety alert bracelets, etc. will hit $30 billion by 2017.

You want more evidence? Research released in October conducted by Oxford Economics for the AARP said that Americans over 50 spend $4.6 trillion annually, with the ripple effect of that spending hitting $7.1 trillion per year.