Connected Personal Alarm Market: Segmented: By Type (Wearables, Portable Devices, and Mobile Applications), By Function (Alarm, Alarm Alert, and Texting/Calling), By Application (Personal Security, Medical Emergency, and Home Security), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2031
[ 170 + Pages Research Report ] Connected Personal Alarm to surpass USD 532.8 million by 2031 from USD 92.2 million in 2021 at a CAGR of 19% in the coming years, i.e., 2021-31.
Personal Alarms are electronic devices that are used for communicating or sending alerts to contacts in case of emergency situations. It has an inbuilt alarm that can be activated via a button, after which a loud siren-like sound is emitted. It is a very useful self-defense product for quick assistance which can be accessed easily by any individual.
Connected Personal Alarm market is expected to project a notable CAGR of 19% in 2031.
The growing geriatric population and rising number of criminal offenses against women and children such as rape, abduction, sexual assault, etc. have raised concerns regarding safety issues which has created a huge demand for safety equipment and thereby contributed to the market growth of Connected Personal Alarm.
Wearables segment to grow with the highest CAGR during 2021-31
Connected Personal Alarm is classified on the basis of type into Wearables, Portable Devices, and Mobile Applications. During the forecast period, Wearables segment is projected to grow with the largest CAGR. The growth is attributed to the convenience in accessing and carrying these devices as they are designed with excellent features and are also cost-effective. There are different wearable alarms available in the market such as wristbands, pendants, smart cards, smart watches, etc.
Personal Security segment to grow with the highest CAGR during 2021-31
Connected Personal Alarm is classified on the basis of application into Personal Security, Medical Emergency, and Home Security. During the forecast period, Personal Security segment is projected to grow with the highest CAGR. The growth is attributed to the fact that personal alarms are suitable for every age group individuals with advance features and portability.
Growing geriatric population and rising security issues regarding children and women
Rising geriatric population is a crucial factor accelerating the market growth as they are highly prone to many diseases and health issues, and personal alarms are useful in case of health emergencies among elderly population, especially the ones who live alone. Further, surging criminal offenses among children and women such as sexual abuse, rape, abduction, etc. have resulted in growing demand for personal alarms, which has induced the market growth.
Increasing usage of smartphones
With advancements in technology, the usage of personal alarms has increased over the period of time. Increased number of smartphone users in various age groups and developed features of personal alarm has made it faster to communicate in case of emergency and thus it is driving the market growth.
Lack of awareness and reluctance
The major factor hampering the market growth of Connected Personal Alarm is the lack of awareness about the usage and benefits of personal alarms among many end consumers. Also, many consumers are reluctant to use the devices which is further restraining the market growth.
Connected Personal Alarm market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is projected to hold the largest market share during the forecast period. The growth is attributed to the rapid advancement in the technologies and the huge presence of key market players in the region. Rising health awareness and consciousness regarding personal safety is also driving the market growth in the region.
Covid-19 outbreak has affected several nations across the world. The unprecedented effects of coronavirus has hampered the global economies severely. There has been a huge disruption in the procurement of raw materials and supply chain managements. Manufacturing operations were paused which resulted in sudden decline in demand from the end users. Covid-19 had a negative impact on the Connected Personal Alarm market. However, in the post-pandemic scenario the market is expected to grow at a significant rate.
Connected Personal Alarm is further segmented by region into:
Connected Personal Alarm Segments:
|Market size value in 2021||USD 92.2 million|
|Revenue forecast in 2031||USD 532.8 million|
|Growth Rate||CAGR of 19% from 2021 to 2031|
|Base year for estimation||2021|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2031|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Type, Function, Application and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Acticheck Ltd., ADA Security, ADT GO, Amano Connect, Buddi Limited, Careline 365, Greatcall Inc., Koninklijke Philips N.V., MobileHelp Smart, PPP Taking Care Ltd., SureSafe, and Other Prominent Players|
Connected Personal Alarm market size was estimated at USD 92.2 million in 2021 and is expected to reach USD 532.8 million in 2031.
Personal Alarms are electronic devices which are used for communicating or sending alert to contacts in case of emergency situations
Wearables, and Personal Security segment accounted for the largest Connected Personal Alarm market share.
Key players: Acticheck Ltd., ADA Security, ADT GO, Amano Connect, Buddi Limited, Careline 365, Greatcall Inc., Koninklijke Philips N.V., MobileHelp Smart, PPP Taking Care Ltd., SureSafe, and Other Prominent Players are the key players in the Connected Personal Alarm market.
Growing geriatric population and rising security issues regarding children and women and increasing usage of smartphones in healthcare are the factors driving the Connected Personal Alarm market.
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