USD 6.97 billion
Personal Emergency Response Systems (PERS) Market Size, Share, Growth Analysis, By Demographics(Seniors, Individuals with Disabilities, and Healthcare Institutions), By Technology(Traditional PERS Devices, Mobile Apps, and Wearable Gadgets), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2709 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
63
|Figures:
75
Personal Emergency Response Systems (PERS) Market Insights
Global Personal Emergency Response Systems (PERS) market size was valued at USD 6.97 billion in 2022 and is poised to grow from USD 7.40 billion in 2023 to USD 11.93 billion by 2031, at a CAGR of 6.15% during the forecast period (2024-2031).
Rapid expansion of the geriatric population and rising awareness regarding the importance of personal safety are projected to emerge as the primary market drivers for the global personal emergency response systems (PERS) marketplace. Personal emergency response systems are designed to ensure immediate assistance to people in the case of different emergencies. These devices are often used to ensure the safety of seniors and individuals affected by different medical diseases. Integration of GPS technology and fall detection sensors is projected to boost demand for personal emergency response systems on a global level. Rising popularity of wearable PERS devices is also estimated to benefit personal emergency response systems (PERS) market growth in the long run. North America and Europe collectively account for a dominant personal emergency response systems (PERS)z sales share that is directly ascribed to their aging populations and the presence of advanced healthcare infrastructure. However, the Asia-Pacific is projected to emerge as a highly opportune space for personal emergency response systems (PERS) market players as the elderly population in this region expands and healthcare expenditure increases.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Traditional PERS Devices
Fastest Growth
Mobile Apps
Growth Rate
6.15% CAGR
Global Personal Emergency Response Systems (PERS) Market by region
Country Share for North America(%)
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Personal Emergency Response Systems (PERS) Market Segmental Analysis
The global personal emergency response systems (PERS) market can be segmented into various categories based on user demographics, technology, and geography. Demographic segments may include seniors, individuals with disabilities, and healthcare institutions. Technology segments encompass traditional PERS devices, mobile apps, and wearable gadgets. Geographically, the market can be divided into North America, Europe, Asia-Pacific, and other regions.
Analysis By Technology
Inexpensive and easy installation of landline personal emergency response systems allows them to account for a dominant share of the marketplace. In 2022, this segment accounted for around 57% of the global marketplace. The emergency signal from landline devices is sent to a monitoring center, which then further alerts and coordinates with authorities to ensure assistance is provided. Older adults are more comfortable with these devices.
Mobile devices are rising in popularity at the fastest pace and are slated to rise at a CAGR of 7.5% from 2023 to 2030. These devices use cellular networks are used to transmit the user's emergency signal from mobile devices making them more portable as compared to landline technology devices Younger population is projected to be more inclined toward these types of devices.
Analysis By Demographics
Home-based users account for the highest sales of personal emergency response systems and they held a market share of around 67.8% in 2022. Expanding aging population all over the world and their growing preference to stay independent are projected to allow this segment to account for a dominant share over the coming years. Home-based PERS personal emergency response systems are allowing seniors to assure their loved ones while living independently.
Assisted living facilities account for the second-largest share in the global personal emergency response systems (PERS) marketplace. This segment held a market share of about 20.2% in 2022. A rising number of seniors being admitted to assisted living facilities and a growing number of these facilities around the world are slated to benefit sales of personal emergency response systems in the long run.
Hospitals hold a small market share as compared to other segments and held a market share of about 12% in 2022. An increasing number of hospitals adopting advanced personal emergency response systems is projected to make this segment the fastest-growing one in the world over the coming years.
Global Personal Emergency Response Systems (PERS) Market by technology
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Personal Emergency Response Systems (PERS) Market Regional Insights
A rapidly expanding geriatric population base and the presence of developed healthcare infrastructure allow North America to account for a significant share of the global market. This region account for a market share of 41.5% in 2023. High prevalence of chronic diseases is also slated to benefit market growth. The second-largest market share of 28.5% of the global personal emergency response systems (PERS) market is held by Europe in 2023. Asia Pacific is slated to emerge as the fastest-growing market for personal emergency response systems in the world and is slated to expand at a CAGR of 6.5% from 2023 to 2030. Increasing healthcare expenditure, a growing senescent population, and rising awareness regarding the benefits of personal emergency response systems are forecasted to boost growth in Asia Pacific.
Global Personal Emergency Response Systems (PERS) Market by Region
- Largest
- Fastest
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Personal Emergency Response Systems (PERS) Market Dynamics
Drivers
- Aging Population: The aging population around the world is projected to influentially boost demand for personal emergency response systems in the future. Rising number of seniors wanting to lead an independent life with immediate emergency assistance is slated to boost personal emergency response systems (PERS) market growth in the long run. PERS provides an added sense of security to elders who live alone.
- Technological Advancements: Rising use of improved sensors, GPS tracking, and availability of advanced connectivity options are also widening the scope of applications for personal emergency response devices. The better reliability and user-friendly nature of these devices is also improving their market appeal beyond seniors and thereby boosting market growth as well.
- Increasing Healthcare Costs: Mounting healthcare costs are pushing people to opt for affordable healthcare solutions and this is slated to boost the adoption of personal emergency response systems on a global level. These devices can also help individuals and their healthcare providers efficiently manage their disease by reducing the need for unnecessary hospital visits due to false alarms.
Restraints
- Limited Awareness and Adoption: the awareness regarding the benefits of personal emergency response system adoption is still very limited. Especially developing economies are projected to be key spaces where PERS demand is limited. Hesitancy due to unfamiliarity is also slated to impede market growth.
- Data Privacy and Security Concerns: PERS has access to sensitive personal data such as the location and vitals of an individual. These devices are often connected to different networks, which can be prone to cyberattacks that could potentially leak sensitive data and put people at risk. These data privacy and security concerns are also estimated to emerge as a major hindrance to personal emergency response systems (PERS) market players going forward.
- Cost and Affordability: While most PERS devices are pretty cost-effective, the integration of advanced technologies could lead to increased costs and limited adoption in the future. Moreover, the added monitoring fees charged by different emergency response centers could also decrease the affordability of personal emergency response systems in the long run.
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Personal Emergency Response Systems (PERS) Market Competitive Landscape
Emerging new companies and established market players with prominent shares define the global personal emergency response systems (PERS) market. personal emergency response systems (PERS) companies are focusing on innovation to improve user experience and cater to different sects of the population. Improved connectivity, integration of advanced technologies like AI and IoT, and better response times are some aspects that personal emergency response systems (PERS) companies are continually trying to improve. personal emergency response systems (PERS) market players are also slated to focus on partnering with healthcare providers, telecommunication companies, and senior care organizations to enhance their market reach and grow their business on a global level. Evolving consumer preferences and technological advancements are projected to play a crucial role in defining the competitive landscape for companies operating in the global personal emergency response systems (PERS) marketplace over the coming years.
Top Player’s Company Profiles
- Philips Lifeline (United States)
- MobileHelp (United States)
- ADT Inc. (United States)
- Rescue Alert (United States)
- Alert1 (United States)
- Nortek Security & Control (United States)
- AlertOne Services, LLC (United States)
- BrickHouse Security (United States)
- Bay Alarm Medical (United States)
- Life Alert Emergency Response, Inc. (United States)
- Medical Guardian (United States)
- VRI (Valued Relationships, Inc.) (United States)
- GreatCall (United States)
- Tunstall Healthcare Group (United Kingdom)
- Valued Relationships, Inc. (United States)
- LifeFone (United States)
- Guardian Alarm (United States)
- Mytrex, Inc. (United States)
- LifeStation, Inc. (United States)
- Connect America (United States)
Recent Developments
- In February 2024, KORE and Medical Guardian teamed up to create a new medical alert device that's pretty cool. It's the first of its kind because it uses something called eSIM technology. This fancy tech helps solve problems with cell signals, making sure the device stays connected all the time. So, even if you're in an area with bad reception, this device can switch between different cell carriers to keep you connected to help when you need it.
- In May 2023, Wearable Health Solutions launched a new website where you can buy their personal emergency response systems (PERS) directly. This website is designed to make it easy for people all over the world to get their hands on these innovative emergency systems.
- In May 2023, HandsFree Health added a new product to its lineup: a personal emergency response speaker (PERS). This speaker is designed to help you call for help in case of an emergency. It's part of the company's range of medical alert devices, which also includes smartwatches and pendants, all aimed at keeping you safe and secure.
Personal Emergency Response Systems (PERS) Key Market Trends
- Technological Advancements: The PERS market has been experiencing technological advancements that are promoting the integration of artificial intelligence (AI), machine learning, and Internet of Things (IoT). These technologies allows personal emergency response systems to improve their efficiency and response time by also improving teh user experience as well.
- Aging Population and Healthcare Demands: The rapid expansion of senescent population around the world and the rising focus on healthcare are slated to be key trends that could boost demand for personal emergency response systems on a global level in the future. Rising demand for remote monitoring and growing healthcare expenditure also promote personal emergency response systems (PERS) market growth.
- Mobile and Wearable Solutions: Rising popularity of wearable medical devices and the growing availability of novel mobile personal emergency response systems are also favoring market growth. Seamless integration of wearable PERS is also estimated to be a key trend providing highly opportune growth scope for personal emergency response systems companies in the future.
Personal Emergency Response Systems (PERS) Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, the global personal emergency response systems (PERS) market is forecasted to be driven primarily by an aging population, increasing awareness about personal safety, and advancements in emergency response technology. PERS devices offer immediate assistance during emergencies, making them essential for seniors and individuals with medical conditions. However, data security concerns and the high costs of advanced personal emergency response systems are projected to be key constraints limiting market growth. North America is projected to account for a dominant personal emergency response system sales share over the coming years owing to the presence of a high geriatric population. Moreover, the integration of IoT and AI technologies is enhancing their capabilities, making them more versatile and user-friendly. High demand for remote monitoring could provide attractive growth opportunities for personal emergency response systems (PERS) market players.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 6.97 billion |
| Market size value in 2031 | USD 11.93 billion |
| Growth Rate | 6.15% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Personal Emergency Response Systems (PERS) Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Personal Emergency Response Systems (PERS) Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Personal Emergency Response Systems (PERS) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Personal Emergency Response Systems (PERS) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Personal Emergency Response Systems (PERS) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Personal Emergency Response Systems (PERS) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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