The complete security and safety of the end-users has been made possible in large part by smart personal safety and security devices. Governments from many different nations have recently emphasized the value of personal security and safety. The security system is crucial for both domestic and international trade. These options are widely used for services such as surveillance, monitoring, protection, and integration. These products are in high demand among outdoor enthusiasts, which is anticipated to boost market growth over the forecast period.
According to Data Bridge Market Research, Smart Personal Safety and Security Device Market is expected to reach USD 74,420.55 million by 2030, which is USD 40,807.76 million in 2022, registering a CAGR of 7.80% during the forecast period of 2023 to 2030.
"Increasing availability and affordability surge market"
The expanding market for personal safety devices has resulted in increased production by manufacturers, leading to a wider range of products. This increased supply, along with factors such as lower manufacturing costs, economies of scale, and competition among vendors, has made these devices more affordable and accessible to a larger consumer base. This trend enables a greater number of individuals to obtain and benefit from personal safety devices.
What restraints the growth of the smart personal safety and security device market?
"High initial cost can impede the market growth”
Smart personal safety and security device market is the high initial cost associated with these devices. The advanced technology and features incorporated into smart devices often contribute to their higher price point compared to traditional safety devices. This can pose a challenge, particularly for price-sensitive consumers in developing regions or those with limited budgets. The perceived value and benefits of the devices may need to outweigh the cost for potential buyers to justify the investment in smart personal safety and security devices.
Segmentation: Global Smart Personal Safety and Security Device Market
The smart personal safety and security device market is segmented on the basis of product, type, technology and industry
- On the basis of product, the smart personal safety and security device market is segmented into finger wear, head wear, neck wear, other segments.
- On the basis of type, the smart personal safety and security device market is segmented into safety device, security device.
- On the basis of technology, the smart personal safety and security device market is segmented into networking technology, positioning, sensor, speech recognition.
- On the basis of industry, the smart personal safety and security device market is segmented into bfsi, healthcare, telecommunication, defense, consumer electronics.
Regional Insights: North America dominates the Global Smart Personal Safety and Security Device Market
North America holds a dominant position in the smart personal safety and security device market due to its quick adoption of technologies and well-developed infrastructure. The region's advanced technological landscape, including high internet penetration and widespread smartphone usage, facilitates the adoption of smart safety devices. Additionally, the presence of established market players and a proactive approach towards personal safety contribute to North America's leadership in terms of revenue and market share in the smart personal safety and security device market.
Asia-Pacific is expected to experience the highest growth rate in the smart personal safety and security device market from 2023 to 2030. This growth can be attributed to the region's focus on research and development activities related to innovative products such as smart pendants, smart helmets, and personal panic alarms. The increasing emphasis on personal safety, coupled with the rising adoption of advanced technologies in countries like China, Japan, and South Korea, drives the demand for these devices, contributing to the region's projected growth.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-smart-personal-safety-and-security-devices-market
Recent Developments in Global Smart Personal Safety and Security Device Market
- In 2021, For the detection of fire and high temperatures in challenging environments, Teledyne FLIR announced the availability of the ruggedized, advanced smart sensor-equipped thermal cameras A500f/700F, which include on-camera analytics and alarm capabilities. These characteristics are ideal for early detection and monitoring of industrial fires.
- In 2021, Fitbit has launched two smart trackers that look like jewelry and feature cutting-edge sensor technology: the Fitbit Luxe Special and Fitbit Luxe and Edition. Monitoring of heart rate variability, breathing rate, resting heart rate, and other metrics are provided by this tracker.
- In 2020, Climax Technologies unveiled its discreet wireless panic button with the release of the BR1-WRTSB Bluetooth emergency pendant. This device, which has a lot of support from smartphone applications, was created to provide emergency assistance with the push of a button, both inside and outside the home.
The Prominent Key Players Operating in the Global Smart Personal Safety and Security Device Market Include:
- Telefonaktiebolaget LM Ericsson (Sweden)
- Honeywell International Inc. (U.S.)
- DAQRI (U.S.)
- Unaliwear Inc. (U.S.)
- Huawei Technologies Co., Ltd. (China)
- General Electric (U.S.)
- Fitbit, Inc. (U.S.)
- Revolar. (U.S.)
- ADT (U.S.)
- Safelet (U.S.)
- KORE Wireless (U.S.)
- McDavid. (Canada)
- Force Impact Technologies L.L.C (U.S.)
- JARVISH INC. (Taiwan)
- Mammut Sports Group AG (Switzerland)
- 100Plus. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global smart personal safety and security device market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Smart Personal Safety and Security Device Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
