Global Smart Personal Safety and Security Device Market – Industry Trends and Forecast to 2030

Smart Personal Safety and Security Device Market Analysis and Size

Smart personal safety and security devices have played a major role to ensuring the complete security and safety of the end-users. Nowadays, governments of various countries highlighted the importance of personal safety and security. The security system is important for personal, business and commercial purposes. These solutions are extensively being deployed for surveillance, monitoring, protection and integration services Outdoor enthusiasts are demanding these products on a large scale and this is likely to enhance the market growth during the forecast period.

Data Bridge Market Research analyses that the 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. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Smart Personal Safety and Security Device Market Scope and Segmentation

Market Definition

Smart personal safety and security devices are those devices which are autonomous and user-friendly in nature. These devices are capable of sending an emergency message to family and friends instantly on a single press. Smart personal safety and security devices are connected to the internet wirelessly by a third party tool.

Smart Personal Safety and Security Device Market Dynamics

Drivers

• Increasing demand for personal safety and security device

An inclination toward connected wearable devices or advanced smart wearables for personal safety and security device can be considered as a major driving factor for the market growth. This market growth is attributed to several factors including increasing consumer shifts towards smart wearables such as smart bands, smartwatches or bracelets and others, growing penetration toward smartphone-connected applications, and many other. Government initiatives for improving women's safety by free distribution of wearable panic buttons coupled with increasing criminal incidents such as roadside or street harassment, abuse, and so on will further drive the market growth forward. These factors are set to aid in the growth of the global smart personal safety & security device market during the forecast period.

• Growing concerns regarding women and children safety

The concerns regarding women and children safety increases due to rising violence, assault and related crimes is likely to be a major factor for the market's growth. Moreover, factors including increasing adoption of personal safety apps from working women, a rapid growth in crime rates against women and so on have been attributed to the growth of the market growth. Increasing stringent governmental rules to protect women & children from abuse further enhance the market growth. For instance, the Central Government has launched the 112 Emergency Response Support System and app In September 2020, for providing single number-based assistance during emergencies.

Opportunities

• Surging product launches in smart personal safety and security device market

The surging product launches and other innovations by major market players offer numerous opportunities for market growth. For instance, Forcite has launched a smart motorcycle helmet, MK1 In July 2019, equipped with a handlebar-mounted control unit, Bluetooth comms unit and VOIP intercom. These helmets use a LED strip system to connect visually at the periphery of the visual field, therefore confirming better rider safety.

• Increasing use of smart wearables for personnel safety

The increasing use of smart wearables for personnel safety in the industrial environments can influence the demand for the smart Personal Safety and Security Device in the market. According to the analysis by Cisco Systems, number of connected wearable devices is anticipated to reach 1105 million by 2022, compared to 593 million in 2018. This witness the increasing consumer inclination toward connected wearables, providing early threat alerts and emergency assistance in need and gaining real-time information from location/GPS tracking. Therefore, increasing use of smart wearables for personnel safety will further create immense opportunities for the market growth during the forecast period.

 Restraints/ Challenges

• Risk associated with personal safety software

Higher adoption of personal safety software by consumers can lead to data misuse, data exploitation and data hacking, and many others due to smartphone integration availability. For instance, a third-party vendor named GetHealth reported a security breach In September 2021 that exposed around 61 million records of some of the major wearable device providers such as Apple, Microsoft Band, Google Fit, Fitbit, Strava and Misfit Wearables. This breach caused compromise in sensitive information, including first names paired with locations and display names, GPS logs, date of birth and fitness data of the customers. These factors have been considerably negatively impacting the market growth during the forecast period.

This smart personal safety and security device market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the smart personal safety and security device market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In 2021, Teledyne FLIR declared the availability of ruggedized advanced smart sensor-equipped thermal cameras A500f/700F for fire detection and high-temperature in severe settings, comprising on-camera analytics and alarm capabilities. These features are perfect for monitoring of industrial fires and early identification.
• In 2021, Fitbit announced the launch of Fitbit Luxe Special and Fitbit Luxe and Edition smart tracker which has designed like jewellery with advanced sensor technology. This tracker delivers monitoring of heart rate variability, breathing rate, resting heart rate and so on.
• In 2020, Climax Technologies revealed its small wireless panic button, through the introduction of a Bluetooth emergency pendant named BR1-WRTSB. With large support from smartphone applications, this device was designed to help with one press of a button during emergencies, both outside and inside the home.

Global Smart Personal Safety and Security Device Market Scope

The smart personal safety and security device market is segmented on the basis of product, type, technology and industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Finger Wear
• Head Wear
• Neck Wear
• Other Segments

Type

• Safety Device
• Smart Helmet
• Smart Mouth Guard
• Smart Knee Guard
• Other Devices
• Security Device

Wearable Devices

• Bracelet, Pendant
• Ring
• Other Devices

 Bulletproof Bags

• Personal Alarm
• Panic Button
• Fall Detection Device
• Other Devices

Technology

• Networking
• Positioning
• Sensor
• Speech Recognition

Industry

• BFSI
• Healthcare
• Telecommunication
• Defense
• Consumer Electronics

Smart Personal Safety and Security Device Market Regional Analysis/Insights

The smart personal safety and security device market is analyzed and market size insights and trends are provided by country, product, type, technology and industry as referenced above.

The countries covered in the smart personal safety and security device market report  U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the smart personal safety and security device market in terms of revenue and market share owing to the quick adoption of technologies and presence of developed infrastructure in this region.

Asia-Pacific will continue to project the highest growth rate during the forecast period of 2023-2030 due to the high research and development activities towards smart pendants, smart helmets, and personal panic alarms in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Smart Personal Safety and Security Device Market Share Analysis

The smart personal safety and security device market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to smart personal safety and security device market.

Some of the major players operating in the smart personal safety and security device market are:

• 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.)

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