Global Smart Personal Safety and Security Device Market Research Report—Forecast till 2025
This report predicts that the Global Smart Personal Safety and Security Device Market was valued at USD 2,904.0 Million in 2019 and is anticipated to surpass USD 5,503.9 Million by the end of 2025, registering a compound annual growth rate (CAGR) of 11.00% during the forecast period, 2020–2025. The rising use of smart personal safety and security devices in the defense sector in tactile and hostile situations is expected to fuel the growth of the market in the future. Additionally, the use of smart helmets, smart wristbands, heart rate monitors, and other devices prove helpful to the soldiers in observing their immediate surroundings and analyzing the risk to their health and safety.
The Global Smart Personal Safety and Security Device Market is expected to register incredible market growth in the future. Smart personal safety and security devices facilitate the telecom operators to capture real-time monitoring of temperatures, dedicated alarm systems, and physical intrusions in inaccessible sites using safety devices. These devices make a map, through which the telecom operators provide their digital services enables the network administrators to create controlled and critical decisions in case of any unexpected events. However, the increased costs of these devices and lack of awareness about smart personal safety and security devices in emerging countries is expected to restrain the market growth during the review period.
The Global Smart Personal Safety and Security Devices Market has been segmented into Type and End User.
Based on Type segment the global market has been classified into Smart Personal Security (Wearable Devices (Bracelet, Pendant, Ring, Other Devices), Bulletproof Bags, Personal Alarm, Panic Button, Fall Detection Device, Other Devices), Smart Personal Safety (Smart Helmet, Smart Mouth Guard, Smart Knee Guard, Other Devices)
Based on end-user, the global smart personal safety and security device market has been categorized into consumers, defense, factories, BFSI, healthcare, telecommunications, and others. The consumer segment is estimated to register the highest CAGR of 13.35% during the review period. The segment accounted for the largest market share of 59.7% in 2019, with a market value of USD 907.2 million.
Geographically, the Global Smart Personal Safety and Security Device Market has been segmented into North America, Europe, Asia-Pacific, the rest of the world.
North America is expected to lead the market owing to the largest market share of 31.2% in 2019, with a market value of USD 907.2 million. The market is anticipated to exhibit a CAGR of 11.0% during the review period. In 2019, Asia-Pacific was the second-largest market with a market value of USD 840.9 million; it is anticipated to witness the highest CAGR of 13.5%.
The Major Players of the Global Smart Personal Safety and Security Device Market are Force Impact Technologies Inc. (US), Ericsson (Sweden), Honeywell International Inc. (US), Daqri, LLC (US), Unaliwear, Inc. (US), Huawei Technologies Co. Ltd. (China), General Electric Company (US), Fitbit, Inc. (US), Revolar, Inc. (US), ADT, Inc. (US), Safelet B.V. (The Netherlands), KORE Wireless Group (US), and 100Plus, Inc. (US) among others.
COVID 19 Impacts
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