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

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).

Emerging new companies and established market players with prominent shares define the 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 level. Evolving consumer preferences and technological advancements are projected to play a crucial role in defining the competitive landscape for companies operating in the personal emergency response systems (PERS) marketplace over the coming years. '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)'

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: 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.

A rapidly expanding geriatric population base and the presence of developed healthcare infrastructure allow North America to account for a significant share of the 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 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.