Personal Emergency Response Systems Market Analysis by Service Type, by Vertical

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Personal Emergency Response Systems Market Analysis by Service Type, by Vertical

Personal Emergency Response Systems Market was valued at USD 3,675.0 Million in 2019; it is estimated to reach USD 5,540.2 Million in 2025.

Personal Emergency Response Systems Market – Overview

The change in societal structure has led to more of the elderly population living alone which is prompting a significant surge in the growth of the market. The insights into the semiconductors and electronics industry are advanced by Market Research Future, which concentrates on reports on industry verticals that review the market options for growth. A 6.8% CAGR is projected to affect earning levels to reach USD 5,032.5 Million by 2024.

The usage of PERS Market is not limited to elderly citizens but also the younger population who are using it to avert any crime or accident that may occur to them. Furthermore, the rising crime rates in urban areas is expected to further add to the development of personal emergency response systems market size in the upcoming years.

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Segmental Analysis

The segmental insights into the personal emergency response systems market are conducted on the basis of type, end user, and region. On the basis of type, the personal emergency response systems market is segmented into mobile such as wireless, cellular and GPS-based, landline, and standalone such as standalone voice communicator, transmitters, R-cube/V-cube monitoring system and wandering system. On the basis of end use, the personal emergency response systems market is segmented into senior living facilities, home-based users, and assisted living facilities. Based on the region, the personal emergency response systems market is segmented into Asia Pacific, North America, Europe, and the other global regions.

Detailed Regional Analysis

The regional assessment of the personal emergency response systems market comprises Asia Pacific, North America, Europe, and the other global regions. The North American region is anticipated to oversee the personal emergency response systems market growth throughout the forecast period owing to the change from fee to value-based healthcare services in the region. Furthermore, the elderly population across the world is a chief reason accountable for the soaring use of personal emergency response systems and the resulting growth of the personal emergency response systems market.

Competitive Analysis

The capability to shape a robust delivery chain in the market is anticipated to use the consumer source in the market. The target market is anticipated to display distinct development in terms of upcoming projections and trends. The barriers to entry in the market are expected to not pose a chief deterrent to the progress of the global market. The financiers in the market are also responsive to the needs that may take place in the future and are thus assigning their resources in a visible manner. The demographic outline of the market gives an impact of being accepted, which is allowing the producers to research with the product features, to offer a more efficient and satisfying user experience. The regulations being applied by government and trade experts on the international scale are demonstrating to be favorable to the global market growth. The augmentation in product quality is estimated to aid the market companies in the development of the user base to advance increased productivity in the coming years.

The principal competitors in the personal emergency response systems market are Cisco Systems, Inc. (US), Koninklijke Philips NV (Netherlands), Nortek Security and Control (US), GreatCall, Inc. (US), Alertone Services LLC (US), VRI (US), Tunstall (UK), Robert Bosch GmbH (Germany), Honeywell International, Inc. (US), and ADT (US) among others.

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Industry Updates:

Dec 2019 Telus Health recently announced that it is intensifying its LivingWell Companion personal emergency response service (PERS) to care for more elderly Canadians. The company has now purchased DirectAlert, which is a security system dealer that has more than 15 years of knowledge in delivering emergency response services. The LivingWell Companion service offers immediate access to emergency aid 24 hours a day.

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