Dublin, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The "Personal Emergency Response System Market by Type, End User, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global personal emergency response system market size reached US$ 5.86 Billion in 2022. Looking forward, the market is set to reach US$ 8.02 Billion by 2028, exhibiting a growth rate (CAGR) of 5.40% during 2023-2028. The increasing prevalence of chronic conditions, the growing adoption of wearable devices, and rising instances of thefts and burglaries represent some of the key factors driving the market.
A personal emergency response system (PERS) is a device that allows individuals to access assistance in the event of an emergency. It is equipped with a button and can be connected to the phone for enabling the user to talk to the operator at the emergency response center through the base unit.
It is also incorporated into mobile applications, which allow the user to check in with the emergency response center or make calls for help. It also assists in providing reminders about medications and appointments and detecting household temperatures, smoke, and carbon monoxide.
Nowadays, PERS can be connected with home automation systems, such as smart thermostats and security systems, which facilitate users to control and monitor their home from a single device and offer additional security and convenience.
Personal Emergency Response System Market Trends:
The increasing prevalence of viral infections, cancer, diabetes, and other chronic diseases, and the rising geriatric population, which is more prone to developing severe medical ailments, are among the major factors driving the demand for PERS around the world.
Moreover, the growing adoption of wearable devices, such as fitness trackers, smartwatches, and fitness bands, which can be connected with smart devices for collecting patient data in real time, is favoring the market growth. In addition, the increasing use of PERS among individuals that are staying away from home is fueling the market growth.
Apart from this, there is a rise in awareness about the benefits of using PERS among people. Furthermore, there is an increase in the integration of a global positioning system (GPS) and artificial intelligence (AI) in a PERS, which enables the device to determine the location of the user and transmit it to the emergency response center. These advanced technologies are also useful in situations wherein users cannot speak or provide their location.
This, coupled with the incorporation of voice assistants, which facilitate the user to call for help using voice commands, is creating a positive outlook for the market. Besides this, due to rising instances of thefts and burglaries and the growing concerns about home safety and security, the demand for PERS is catalyzing across the globe.
North America was the largest market for personal emergency response systems.
Some of the factors driving the North America personal emergency response system market included the aging population, increasing healthcare costs, technological advancements, government initiatives, and growing awareness and acceptance of personal emergency response systems.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global personal emergency response system market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $5.86 Billion |
| Forecasted Market Value (USD) by 2028 | $8.02 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Key Players
- ADT Inc.
- Alert1 Medical Alert Systems
- Bay Alarm Medical (Bay Alarm Company)
- GreatCall Inc. (Best Buy Co. Inc.)
- Guardian Alarm
- Koninklijke Philips N.V.
- Life Alert Emergency Response Inc.
- LogicMark Inc.
- Medical Guardian LLC
- Rescue Alert
- Tunstall Group Limited
- VRI Inc. (Modivcare Inc.)
Key Market Segmentation:
Type Insights: Mobile PERS accounted for the largest market share.
- Mobile PERS
- Landline PERS
- Others
End User Insights: Home-based users accounted for the largest market share.
- Home-based Users
- Assisted Living Facilities
- Others
For more information about this report visit https://www.researchandmarkets.com/r/auyalh
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