Personal Emergency Response System Market

Market Overview:

The global personal emergency response system market size reached US$ 6.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 9.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.71% during 2024-2032. 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. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global personal emergency response system market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on type and end user.

Type Insights:

• Mobile PERS
• Landline PERS
• Others
   

The report has provided a detailed breakup and analysis of the personal emergency response system market based on the type. This includes mobile PERS, landline PERS, and others. According to the report, mobile PERS accounted for the largest market share.

End User Insights:

• Home-based Users
• Assisted Living Facilities
• Others
   

A detailed breakup and analysis of the personal emergency response system market based on the end user has also been provided in the report. This includes home-based users, assisted living facilities, and others. According to the report, home-based users accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, 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. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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.), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global personal emergency response system market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global personal emergency response system market?
• What is the impact of each driver, restraint, and opportunity on the global personal emergency response system market?
• What are the key regional markets?
• Which countries represent the most attractive personal emergency response system markets?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the personal emergency response system market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the personal emergency response system market?
• What is the competitive structure of the global personal emergency response system market?
• Who are the key players/companies in the global personal emergency response system market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the personal emergency response system market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global personal emergency response system market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the personal emergency response system industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.