The market for smart personal safety and security devices generated $9.1 billion in revenue in 2021. The market for intelligent personal safety and security devices is anticipated to reach US$ 33.5 billion by 2032, expanding at a CAGR of 12.7% between 2022 and 2032.
Remote monitoring is possible with the smart personal safety and security device when physical objects and the Internet are used together. The user may wear it or carry it. such as necklaces, anklets, or watches. A certain type of wearable equipment may keep an eye on your body temperature when you’re ill, as well as your heart rate as you sleep at different periods during the day and night. Smart personal safety and security gadgets make up 5% of the physical security industry.
The most recent smart personal security and safety solutions give geographic location information about locations that are shown on maps in relation to other locations using GPS tracking technology. Smart personal security and safety devices can connect to the Internet and work wirelessly with the help of third-party software. These devices can also instantaneously SMS a close friend or member of your family in an emergency by tapping a button.
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Demand Outlook for Smart Personal Safety and Security Devices from 2017 to 2021 Compared to 2022 to 2032 Forecast
In comparison to the historical average of 10.6%, it is predicted that demand for smart personal safety and security devices would rise between 2022 and 2032 at a CAGR of 12.7%.
As a result of increased crime rates, particularly against women and children, and advancements in information and communication technology, it is projected that the market for smart personal safety and security systems will expand. Even in the face of numerous technological developments, the protection of women and children has long been a priority. With the advent of the Internet of Things, there has been an increase in the global development of numerous intelligent solutions to improve user security (IoT).
The market for smart personal safety and security devices is expanding due to the growing trend toward advanced smart wearables or connected wearable devices.
Due to the trend towards sophisticated smart wearables or linked wearables, the market for smart personal safety and security devices is growing. A number of causes, including the increased consumer preference for smart wearables like smart watches, smart bands, and smart bracelets, as well as the expanding adoption of applications specifically made for smartphones, are responsible for this market expansion.
Rising criminal incidences including roadside harassment and abuse, as well as government attempts to increase women’s safety through the free distribution of portable panic buttons, are driving the market for smart personal safety and security gadgets.
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Regional Evaluation
The smart personal safety and security device market is expected to develop at the highest CAGR of 20.1% between 2022 and 2032 in South Asia & Pacific, with North America accounting for the largest market share of 28.6%.
With the participation of manufacturers of smart personal safety and security devices, rising user awareness of personal safety, rising awareness of the use of these smart security devices, and favourable regulatory regulations resulting in rapid market growth, North America is a significant contributor. Because of its large population and expanding consumer electronics market, the South Asia and Pacific region is predicted to experience rapid growth.
Competitive Landscape
Creating a competitive landscape among various valuable players present in different market locations across the globe is very important to gain a detailed and deep idea about the insights of the smart personal safety and security device market.
All market players compete with each other globally in the international market by implementing different types of strategies such as product launches and upgrades, mergers and acquisitions, partnerships, etc. Major players in this market are: Force Impact Technologies Inc., Honeywell International Inc., Ericsson, Daqri, LLC, etc. For instance,
- In August 2021, Fitbit has announced the launch of the Fitbit Luxe and Fitbit Luxe Special Edition smart trackers, designed like jewels with advanced sensor technology. This tracker offers monitoring of respiratory rate, heart rate variability, resting heart rate, and more.
- In May 2020, Climax Technologies has launched the Bluetooth emergency fob BR1-WRTSB to introduce a small wireless panic button. With extensive support for smart phone applications, the device is designed to allow users to call for emergency help inside or outside the home at the touch of the button.
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Smart personal safety and security device market by Category
By Type:
- Smart Personal Security
- Smart Personal Safety
By End User:
- Consumers
- Defence
- Factories
- BFSI
- Healthcare
- Telecommunications
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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