Smart Personal Safety and Security Device Market Competitive Landscape, Possible Challenges and Forecast to 2027
Market Research Future published a research report on “Smart Personal Safety and Security Device Market Research Report - Global Forecast till 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Overview
The global smart personal safety and security device market is expected to reach USD 5,503.87 million by 2025 at a CAGR of 11.00% during the forecast period. Market Research Future (MRFR), in its report, envelops segmentation and drivers to provide a better glimpse of the market in the coming years. Smart personal safety and security devices are used to track location, send alerts in emergencies, and provide safety to the user. These devices are autonomous and are connected wirelessly via the Internet. Personal safety devices are user-friendly and are available in the form of smartwatches, keyrings, rings, and bracelets, among others. These devices are gradually gaining traction among the sports enthusiast and tech-savvy populace across the globe. Furthermore, the increasing crime rates against children and women are driving the demand for these devices.
Competitive Analysis
The key players of the global Smart Personal Safety and Security Device Market are Force Impact Technologies Inc. (US), Ericsson (Sweden), Honeywell International Inc. (US), Daqri, LLC (US), Unaliwear, Inc. (US), Huawei Technologies Co. Ltd. (China), General Electric Company (US), Fitbit, Inc. (US), Revolar, Inc. (US), ADT, Inc. (US), Safelet B.V. (The Netherlands), KORE Wireless Group (US), and 100Plus, Inc. (US) among others.
In April 2020, 100Plus launched their remote patient monitoring platform which works in conjunction with their remote patient monitoring devices such as the blood pressure cuffs, blood glucose monitors and their digital weight scale.
In December 2019, KORE Wireless Group acquired Integron, an industry leading IoT solutions and managed services provider focused on the connected health market. The acquisition will allow the combined entity will leverage the combined technological advancements to drive smart health connectivity.
In December 2019, ADT, Inc partnered with Senior Helpers, a leading provider of in-home senior citizen care services. Under the terms of this partnership, ADT will introduce its medical alert systems to senior caregivers, hence allowing seniors more options to age in place while enjoying their current lifestyle.
In May 2018, Revolar announced a partnership with The Davis Phinney Foundation, an organization that assists people living with Parkinson’s Disease. The partnership allows buyers who purchase Revolar devices through The Davis Phinney Foundation a special discounted pricing and Revolar will donate to the Foundation.
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Segmental Analysis
Global Smart Personal Safety and Security Device Market has been segmented based on Type, End-User, and Region.
Based on type, the global market has been divided into smart personal safety devices and smart personal security devices. Among these, the smart personal security devices segment dominated the global smart personal safety and security device market in 2019 and is expected to register a CAGR of 11.14% during the forecast period. wearable devices, bulletproof bags, personal alarm, panic button, and fall detection device among others are used by individuals to ensure maximum safety. Also, smart helmet, smart mouth guard, smart knee guard, and other devices are used by individuals for personal safety.
Based on end user, the global market has been segmented into consumers, factories, defense, BFSI, healthcare, telecommunications, and others. Among these, the consumer segment dominated the global market in 2019 and is estimated to record a CAGR of 13.35%. The consumption of smart personal safety and security device among the consumers is expected to grow at a significant rate. The advanced features, ease of accessibility, and internet connectivity are the major factors driving the adoption of smart personal safety and security devices. Moreover, due to the increasing crime rates, the need for personal security devices such as smart bracelets and smart necklaces has increased. Moreover, the rising concerns for personal healthcare monitoring is another major factor driving the growth of the segment in the global smart personal safety and security device market.
Based on the region, the smart personal safety and security device market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. The North American region dominated the smart personal safety and security device market, accounting for a value of USD 907.24 million in 2019; it is estimated to register an 11.04% CAGR during the forecast period
Regional Analysis
The Global Smart Personal Safety and Security Device Market, by region, has been segmented into North America, Europe, Asia-Pacific, the rest of the world. North America accounted for the largest market share of 31.2% in 2019, with a market value of USD 907.2 million; the market is expected to register a CAGR of 11.0% during the forecast period. Asia-Pacific was the second-largest market in 2019, valued at USD 840.9 million; it is projected to register the highest CAGR of 13.5%.
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