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Global Personal Emergency Response Systems Market- By Type (Landline, Mobile and Standalone), By End User (Home-based Users, Senior Living Facilities, Assisted Living Facilities), and By Region (North America, Europe, Asia Pacific, South America, and Middle East, & Africa)- Global forecast from 2020-2027.
Global Personal Emergench Response Systems Market Overview:
The global personal emergency response system market refers to the device used by an aging population and driven by many factors such as the rising number of health-conscious people, high adaptation rates, and new technology innovations.
Global Personal Emergency Response Systems Market Insights
The global personal emergency response systems market expected to spur market share by USD 3.3 billion with exponential CAGR in the forecast period from 2020-2027. The increase in the elderly population, the trend to promote the independent life of the elderly, the expansion of the introduction of personal action emergency response systems, health care reform, government financial support, and other factors promote the growth of this market.
The personal emergency response system is a medical alert system that notifies friends and family in case of falling or medical emergencies. The personal emergency response system is beneficial for senior citizens as millions of senior citizens fall every year.
The development of the emergency industry can not only provide material security, technical support, and professional services for preventing and responding to emergencies. To meet the ever-increasing demand for emergency products and services in all aspects of society and to enhance emergency rescue ability to respond to emergencies and resist the risks of the whole community.
Moreover, the ability is also conducive to adjusting and optimizing the industrial structure and promoting independent innovation and technological progress in related industries. Vigorously developing the emergency industry is an important task to improve the ability and level of response to emergencies and to ensure high-quality economic development.
The development of advanced sensors for fall detection, the implementation of AI and IoT for personal emergency response systems, and the large-scale use of R&D funds have also contributed to the department’s growth.
Growth Driver
Rising Geriatric Population
The personal emergency response system is raising its market demand for users of assisted living facilities that will help grow the highest compound annual growth rate. The geriatric patients, older people with diabetes, chronic obstructive pulmonary disease (COPD), and heart disease are prone to fall, and if left untreated, it may cause serious injury. Therefore, a personal emergency response system provides independent, assisted living facilities for the elderly and can use emergency services.
Emerging Medical Cost
The medical costs increase year by year due to the rise of chronic diseases such as cardiovascular diseases, cancer patients, and others. Therefore, medical insurance companies need to improve their competitiveness by merging with other companies or outsourcing services. For hospitals and doctors, this means saving costs while providing better services. Patients are increasing to take control of their health by adopting a personal emergency response system that analyzes patients’ health and reduces the chances of emergencies.
By Type Segmental Analysis
Based on type, the global personal emergency response systems market classified into Landline, Mobile, and Standalone. The mobile PERS segment dominated the largest market share in the global emergency response systems market. The mobile personal emergency response system (mobile PERS) functions perform a similar role, such as a landline personal emergency response system. However, the difference between mobile PERS and landline PERS is that instead of cables and connecting wires, it uses a combination of GPS, cellular, and Wi-Fi technologies. It also refers to standalone personal emergency response systems that are individual devices equipped with transmitters, monitoring systems, and communication systems.
Moreover, with the rising nuclear families and older population, the emergency industry is also propelling to reduce financial costs for the government when dealing with natural disasters, accidents, and public safety hazards. Also, mobile PERS is useful for older people having diabetes, chronic obstructive pulmonary disease (COPD), heart disease, etc. It is due to the high risk of falling and the possibility of serious injury.
By End-use Segmental Analysis
Based on end-use, the global personal emergency response systems market categorized into Home-based Users, Senior Living Facilities, Assisted Living Facilities. Home-based users dominate the largest end-use segment in the global personal emergency response systems market in the forecast period from 2020-2027. It mainly owes to provide emergency help to an individual in case of emergency as personal emergency response systems devices are connected with phones or alarm and are programmed to signal a response center upon activation of help or a push button. The person receiving the signal at the end through radiofrequency can interact with patients to decide what action to take.
Moreover, patients using personal emergency response systems have reported many satisfactory results and have helped them increase control over their lives. Also, it partially reduced dependency on others, and more importantly, gives is peace of mind. Therefore, all these favorable factors will continue to augment the global personal emergency response system’s growth.
By Region Segmental Analysis
Based on geography, the global personal emergency response systems market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is the world’s fastest-growing global personal emergency response systems market, accounting for the largest share. It is mainly due to the rising disposable income of the population, the tradition of independent living, rising older people, and emerging cases of chronic diseases propelling the market share and adoption of personal emergency response systems in North America.
Competitor Analysis
Companies such as Alertone Services LLC, Cisco Systems, Inc., Nortek Security and Control, VRI, Honeywell International, Inc., Tunstall, Robert Bosch GmbH, GreatCall, Inc., Koninklijke Philips NV, ADT Inc and others are key players in the global personal emergency response systems market.
Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global personal emergency response systems manufacturing companies
- Research organizations and consulting companies’ personal emergency response systems
- Regulatory bodies
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling
By Type
- Landline
- Mobile
- Standalone
By End-User
- Home-based Users
- Senior Living Facilities
- Assisted Living Facilities
By Region
- Europe
- North America
- Asia Pacific
- South America
- Middle East & Africa
Global Personal Emergency Response Systems Market
Report Content
- Research Strategic Development
- Market Modelling
- Product Analysis
- Market Trend and Economic Factors Analysis
- Market Segmental Analysis
- Geographical Mapping
- Country Wise Segregation
- Research Methodology
- Identification of Target Market
- Data Acquisition
- Refining of Data/ Data Transformations
- Data Validation through Primary Techniques
- Exploratory Data Analysis
- Graphical Techniques/Analysis
- Quantitative Techniques/Analysis
- Visual Result/Presentation
- Executive Summary
- Market Insights
- Economic Factor Analysis
- Drivers
- Trends
- Opportunities
- Challenges
- Competitors & Product Analysis
- Regulatory Framework
- Company market share analysis, 2019
- Porter’s Five forces analysis
- New Investment Analysis
- PESTEL Analysis
- Economic Factor Analysis
- Global Personal Emergency Response Systems Market Overview
- Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Market Share & Forecast, 2016-2027
- By Type
- Landline
- Mobile
- Standalone
- By End-User
- Home-based Users
- Senior Living Facilities
- Assisted Living Facilities
- By Region
- Europe
- North America
- Asia Pacific
- South America
- Middle East & Africa
- By Type
- Demand
- Market Size & Forecast, 2016-2027
- Europe Personal Emergency Response Systems Market Overview
- Europe Personal Emergency Response Systems Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Europe Personal Emergency Response Systems Market Share & Forecast, 2016-2027
- By Type
- Landline
- Mobile
- Standalone
- By End-User
- Home-based Users
- Senior Living Facilities
- Assisted Living Facilities
- By Country
- Germany
- UK
- France
- Italy
- Rest of Europe
- Company Market Share (Top 3-5)
- Economic Impact Study on Europe Personal Emergency Response Systems Market
- By Type
- Demand
- Europe Personal Emergency Response Systems Market Size & Forecast, 2016-2027
- North America Personal Emergency Response Systems Market Overview
- North America Personal Emergency Response Systems Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- North America Personal Emergency Response Systems Market Share & Forecast, 2016-2027
- By Type
- Landline
- Mobile
- Standalone
- By End-User
- Home-based Users
- Senior Living Facilities
- Assisted Living Facilities
- By Country
- US
- Canada
- Mexico
- Company Market Share (Top 3-5)
- Economic Impact Study on North America Personal Emergency Response Systems Market
- By Type
- Demand
- North America Personal Emergency Response Systems Market Size & Forecast, 2016-2027
- Asia Pacific Personal Emergency Response Systems Market Overview
- Asia Pacific Personal Emergency Response Systems Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Asia Pacific Personal Emergency Response Systems Market Share & Forecast, 2016-2027
- By Type
- Landline
- Mobile
- Standalone
- By End-User
- Home-based Users
- Senior Living Facilities
- Assisted Living Facilities
- By Country
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Company Market Share (Top 3-5)
- Economic Personal Emergency Response Systems Market Overview
- By Type
- South America Personal Emergency Response Systems Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- South America Personal Emergency Response Systems Market Share & Forecast, 2016-2027
- By Type
- Landline
- Mobile
- Standalone
- By End-User
- Home-based Users
- Senior Living Facilities
- Assisted Living Facilities
- By Country
- Brazil
- Argentina
- Rest of South America
- Company Market Share (Top 3-5)
- Economic Impact Study on South America Personal Emergency Response Systems Market
- By Type
- Demand
- Demand
- Asia Pacific Personal Emergency Response Systems Market Size & Forecast, 2016-2027
- Middle East & Africa Personal Emergency Response Systems Market Overview
- Middle East & Africa Personal Emergency Response Systems Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Middle East & Africa Personal Emergency Response Systems Market Share & Forecast, 2016-2027
- By Type
- Landline
- Mobile
- Standalone
- By End-User
- Home-based Users
- Senior Living Facilities
- Assisted Living Facilities
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- Company Market Share (Top 3-5)
- Economic Impact Study on Middle East & Africa Personal Emergency Response Systems Market
- By Type
- Demand
- Middle East & Africa Personal Emergency Response Systems Market Size & Forecast, 2016-2027
- Competitor Analysis
- Company Description
- Financial Analysis
- Key Products
- Key Management Personnel
- Contact Address
- SWOT Analysis
- Company Profile
- Alertone Services LLC
- Cisco Systems, Inc.
- Nortek Security and Control
- VRI
- Honeywell International, Inc.
- Tunstall
- Robert Bosch GmbH
- GreatCall, Inc.
- Koninklijke Philips NV
- ADT Inc
- Other players
