Picture a world where assistance is only a button press away. Your loved ones’ safety and welfare are constantly protected. Personal Emergency Response Systems (PERS) enable this reality. This innovation has revolutionized the way emergencies are handled.
In today’s fast-moving world, a dependable PERS system is crucial. It’s vital whether for an elderly person living alone or someone with chronic illness. Knowing that help is at hand brings peace of mind.
The global PERS market is growing. It’s fueled by an increasing elderly population and more smartphone use. In 2018, mobile PERS made up about 43.4% of the market. Stand-alone PERS had 30%. The market is expected to keep growing steadily.
Philips Lifeline leads the PERS market. In 2018, it had about 32.6% of the market. Their reliable and innovative PERS solutions meet the diverse needs of people all over the world.
The value of the global PERS market was USD 7578.7 million in 2020. It’s expected to hit USD 10810 million by 2027. This is due to a 6.1% growth rate from 2021 to 2027. Growth comes from tech advancements, changing preferences, and market competition.
Key Takeaways:
- The global PERS market is experiencing notable growth, driven by factors such as the increasing number of geriatric individuals and the rising penetration of smartphones.
- Philips Lifeline is a leading player in the market, capturing approximately 32.6% of the market share.
- The market includes various types of PERS, with mobile type PERS holding the largest market share in 2024.
- The global market size for PERS is projected to reach USD 10810 million by 2027, growing at a CAGR of 6.1% during the period 2021-2027.
- Technological advancements, changing consumer preferences, and competitive dynamics are driving the growth of the PERS market.
Impact of the COVID-19 Outbreak on the Global PERS Market
The COVID-19 outbreak has hugely affected the global Personal Emergency Response Systems (PERS) Market. It has shaken economies, healthcare, and daily routines, leading to more people wanting PERS. These systems are now more crucial for remote monitoring and getting help quickly.
The outbreak made more people, especially seniors and those with health issues, use PERS systems. Many avoid healthcare places for fear of getting sick and prefer staying safe at home. This shift has made people look for new ways to stay safe.
The PERS market is still growing despite some problems from the pandemic. Issues like supply chain disruptions have made it hard for makers to keep up with demand. Also, not all those who need these systems can get them right away.
Yet, the crisis has sparked new ideas in the PERS market. Innovations like advanced sensors and apps are more important than ever. They help users get help quickly and stay connected to doctors from home.
Wireless medical alerts are popular for their easy use and smart device compatibility. They’re a big part of the market, thanks to a growing older population. Home users, the biggest group, enjoy the freedom and safety PERS bring.
The Asia-Pacific region is expected to see big growth in the PERS market. A large elderly population and healthcare changes drive this potential. China is especially important for growth in this region.
The COVID-19 outbreak has brought both challenges and growth to the PERS market. Key companies like Philips and Medical Guardian have met the demand and helped many. They are addressing new needs that have come up.
Analyzing the PERS market from 2018 to 2028 gives deep insights. It looks at how the pandemic has changed market trends and growth areas. As the world adjusts, the PERS market is finding new ways to keep people safe.
Market Trends and Strategic Insights in the PERS Market
The PERS market is growing fast. It’s shaped by things like new healthcare tech, cool products, and more healthcare money being spent. These factors are changing the market’s future.
New tech features in personal emergency systems are a big trend. Companies like MobileHelp are making devices with fall detection and tracking. The “Micro” device is a good example of this innovation.
Using AI and the Internet of Things (IoT) in PERS systems is changing the game. These innovations make emergency systems work better and help the market grow.
Companies in the PERS market are working together to do better. They’re joining up to reach more people, improve products, and meet changing needs. For instance, Connect America teamed up with Urban Health Plan for remote monitoring in the US. Philips also introduced an app for managing senior citizen check-ups.
More older people and those with disabilities are boosting the market. With the number of people over 60 set to double by 2050, the need for emergency systems is rising.
In North America, the PERS market is really big because of its aging population. But, the Asia-Pacific region is growing fast too. This is because of its elderly, government incentives, and foreign investments.
| Market Data | Year | Value (USD Billion) |
|---|---|---|
| Market Size (2022) | 2022 | 6.97 |
| Market Size (2023) | 2023 | 7.50 |
| Market Size (2030) | 2030 | 11.23 |
The PERS market could grow by 9.68% each year from 2024 to 2029. The standalone PERS segment was very important in 2022. It was a big part of global PERS sales. Fall detection sensors are also a key market driver, especially in assisted living places, which are growing fast.
These trends show how the PERS market is always changing. There are many chances for companies to do well. Big names like Cisco Systems, Honeywell, Philips, and Bosch are spending on research. They want to make new products and get a bigger market share.
Regional Analysis of the PERS Market
The global PERS market is growing fast. This growth comes from more advanced healthcare tech and a rise in elderly folks needing special care. A regional analysis helps us see different areas’ contributions to the market. It also helps identify the big players and spot new trends.
North America: Leading the Market Share
North America is at the top in the PERS market. Its strong healthcare setup and the rise in chronic diseases like COPD, which had 251 million cases worldwide in 2016, play a big part. The area’s old population and their need for constant care have made PERS systems more popular.
Europe: Embracing Technology and Aging Population
Europe takes second place in market share. Its embrace of apps and wearable tech boosts the PERS market. Europe’s aging population wants more personal healthcare, so PERS systems are more accepted. Countries in Europe are putting money into new healthcare tech for their elderly folks’ safety.
Asia Pacific: Rising Demand for PERS Systems
The Asia Pacific area is set to see high growth in the PERS market. A strong healthcare sector, more spending on healthcare, and more elderly people help this growth. Countries like India and Singapore are seeing more folks wanting PERS systems. They know how these systems can help in emergencies.
A regional analysis shows us the trends and opportunities in different areas. It helps businesses make good strategies. They can meet each region’s specific needs with their products and services. As the PERS market grows worldwide, knowing about each region is key for companies looking to grow.
“North America holds the largest market share in the global PERS market, while Europe and Asia Pacific exhibit significant growth potential.”
Key Players in the PERS Market
The global Personal Emergency Response Systems (PERS) Market is very competitive. Many key players are pushing for more innovation and growth in the market. They hold a large part of the market and have many new products. These meet the changing needs of people all over the world.
Some major names in the PERS market are:
- Koninklijke Philips N.V.
- ADT
- Life Alert Emergency Response
- Connect America
- Valued Relationships
- Tunstall Healthcare Group
- Medical Alarm Company
- Electronic Caregiver
- GreatCall
- AlertOne Services LLC
These companies focus a lot on making new products. They also work on making things that are not there yet. For example, MobileHelp has introduced a new device called “Micro”. It has lots of new features.
They spend a lot on research and development too. This helps to make the PERS systems better and more effective. It allows them to keep up with the demand for new and better products worldwide. p>
Thanks to their strong presence and focus on new ideas, these companies will likely lead the way. They will continue to grow the PERS market in the future.
| Key Players | Market Share |
|---|---|
| Koninklijke Philips N.V. | 12.3% |
| ADT | 9.8% |
| Life Alert Emergency Response | 8.5% |
| Connect America | 7.2% |
| Valued Relationships | 6.9% |
Market Segmentation of the PERS Market
The global Personal Emergency Response Systems (PERS) Market divides into two main categories: type and end-use. This organization helps understand what different customers need. It lets companies make products and services that fit these needs better.
Type Segmentation
Type segmentation breaks the PERS market into three: mobile PERS, standalone PERS, and landline PERS. Mobile PERS led the market in 2022. This is because almost everyone uses mobile phones today. Landline use is much lower, just over 50%. Mobile PERS are popular for being easy to carry and offering quick help anywhere.
End-use Segmentation
In end-use segmentation, the PERS market includes seniors’ homes, people living at home, assisted living, and more. Senior living places see high demand for PERS. Here, older adults get watched over closely and can reach emergency services fast. Falls are a major issue for those 65 and older, making PERS vital for safety.
Market segmentation in the PERS world helps everyone involved. It lets them see the size, growth, and competition in each segment. They can meet customers’ needs better by focusing marketing and making targeted products. By knowing the various needs of each group, companies can better serve each one.
| Market Segments | Key Features |
|---|---|
| Mobile PERS | Portability, quick access to emergency assistance |
| Standalone PERS | Independent system, suitable for home-based users |
| Landline PERS | Relies on landline connection for emergency communication |
| Senior Living Facilities | Constant monitoring, immediate access to emergency services |
| Home-based Users | Individuals living independently at home |
| Assisted Living Facilities | Supportive care in a specialized facility |
| Others | Additional market segments based on specific requirements |
Market Forecast and Future Trends in the PERS Market
The global Personal Emergency Response Systems (PERS) market is set to grow a lot in the next years. Experts predict it will grow at a rate of 6.4% from 2023 to 2031. Many trends and factors are pushing this growth.
One big reason for this growth is the increasing number of elderly people around the world. As more people get older, there’s a bigger need for emergency systems to keep them safe. Also, tech improvements like fall detection and GPS are making PERS devices better.
Support from governments is also helping boost the use of PERS systems. Governments see the value in helping seniors live on their own safely. They’re offering money and other benefits to encourage people to use PERS devices.
Big companies in the PERS market, like ADT and Bay Alarm Medical, are spending on new products. They’re working hard to be leaders in the market. This competition helps make better products for everyone.
The PERS market has different types, tech, and uses. From home care to nursing homes, PERS devices have many applications. Tech like Bluetooth and GPS make these systems even more useful.
Right now, North America is the biggest player in the PERS market. But Asia Pacific is looking like a strong future contender. Its growing elderly population and government support are big reasons why. Europe is also a key market, thanks to its focus on preventing accidents before they happen.
In summary, the PERS market is on the way up. Its growth is driven by new tech, government backing, and a focus on meeting individual needs. The future looks bright for the PERS industry.
Competitive Landscape in the PERS Market
The PERS market faces tough competition. Companies like Philips Lifeline, ADT, and Connect America fight for the top spot. They constantly work to stay ahead by improving their offerings and setting high standards.
Studying how these companies operate reveals a lot. They look at product design, investments in research, and tech advances to meet customer demands. Innovation, joining forces with others, and buying companies are their strategies to edge out competitors.
These firms also work with health care, telecoms, and elder care groups. Such partnerships broaden their reach and serve varied needs of users. By working with others, they can offer better solutions that meet high standards and add real value.
Understanding different market segments is key to staying ahead. The PERS market offers products like mobile, landline, and standalone devices. The mobile segment leads the pack. Most solutions are aimed at use in homes, stressing the need for trustworthy home-based emergency systems.
Looking at different regions shows where these companies stand globally. North America leads with a major part of the market. Europe is not far behind. But the Asia Pacific region is growing fast, thanks to its aging population and increase in chronic illnesses.
In summary, the PERS market is both dynamic and full of competition. Leading companies are always on their toes, innovating and partnering wisely. They focus on meeting global standards to provide efficient emergency services to users everywhere.
Conclusion
The global Personal Emergency Response Systems (PERS) market looks set to grow significantly soon. By 2026, it’s predicted to hit a huge value in USD. This growth is expected between 2022 and 2026.
The pandemic brought problems and chances for PERS. It showed us how crucial remote monitoring is. However, it also caused issues in making and delivering products. Even so, more people started using PERS due to these challenges.
Technological advances and teamwork are shaping the PERS market. An aging population and more smartphones play a big role too. These factors are pushing the market upwards. Companies that keep up with these changes will do well.
The outlook for PERS worldwide is bright. There’s room for new ideas and growth. With strong forecasts and positive movement, it’s a promising field. This makes it appealing to investors and leaders in health tech.
