The global personal emergency response system market value is estimated to be USD 5,868.1 million in 2024. The overall market is predicted to grow at a moderate CAGR of 6.3% during the forecast period. The global personal emergency response system industry share is estimated to reach a value of nearly USD 10,840.5 million by 2034.
Personal Emergency Response System (PERS) Market Trends & Analysis
Report Attribute | Details |
---|---|
Personal Emergency Response System (PERS) Market Size (2024) | USD 5,868.1 million |
Market Anticipated Forecast Value (2034) | USD 10,840.5 million |
Market Projected Growth Rate (2024 to 2034) | 6.3% CAGR |
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The global personal emergency response system market was valued at USD 3,958.5 million in 2019. The global sales of personal emergency response systems surged at a rate of 6.8% between 2019 and 2023. The overall market value was about USD 5,490 million by 2023.
Personal emergency response systems become a significant part of the healthcare monitoring devices market during the pandemic years. The systems that catered to the people in need of immediate medical attention gave rise to emerging trends in senior alert systems is expected to continue to drive the market in the coming days as well.
Attributes | Details |
---|---|
Personal Emergency Response System (PERS) Market Value (2019) | USD 3,958.5 million |
Market Revenue (2023) | USD 5,490 million |
Market Historical Growth Rate (CAGR 2019 to 2023) | 6.8% CAGR |
There is a rising percentage of the aging population and elders who opt to lead an active life in independent living communities, alone which encourages the adoption of personal emergency response systems globally. Moreover, the desire to live well with complex health conditions such as dementia and frailty is spurring demand for social care services which necessitates more use of personal emergency systems.
Sales of personal emergency response systems are expected to witness a huge uptick as their usage is increasing with the growing demand for home healthcare devices across the globe. However, issues of maturity and severe sales practices that do not bode well for long-term business growth, act as a barrier for the personal emergency response system market.
The table below lists the countries that are figured to have a promising future for personal emergency response system industry participants.
Regional Market Comparison | CAGR (2024 to 2034) |
---|---|
United States | 3.8% |
Germany | 3.6% |
United Kingdom | 4.8% |
India | 7.2% |
Singapore | 6.1% |
The United States personal emergency response system (PERS) market is expected to register a CAGR of 3.8% during the projected years.
The United States is leading the global PERS industry since healthcare professionals and patients are known for quickly adopting modern medical systems. The higher sales of personal emergency response systems in the country can also be attributed to greater concern for older adults living alone in remote areas.
The personal emergency response system developers in Germany are likely to witness an average CAGR of 3.6% from 2024 to 2034.
With rapid technological advancement, rising awareness towards personal healthcare and monitoring, and wide acceptance of wearable devices the German market is likely to improve. The increase in exports of personal emergency response systems to East European countries is projected to create a conducive environment for market players in Germany.
The demand for personal emergency response systems in the United Kingdom is poised to increase at a rate of 4.8% between 2024 and 2034.
The integration of personal emergency response system data with telehealth platforms has raised the value proposition of such systems in the country. Furthermore, the country is experiencing an increase in the prevalence of chronic diseases such as obesity and hypertension which is likely to increase healthcare emergencies.
India is projected to present the most lucrative opportunities exhibiting a robust CAGR of 7.2% during the forecast period.
The rising popularity of these solutions to aid in lowering healthcare costs and improving outcomes is expected to further boost sales in the country. Several government initiatives for the deployment of quick response teams for medical emergencies are boosting the adoption of personal emergency response systems in the country.
The Singapore personal emergency response system market is expected to witness a remarkable growth rate of 6.1% per year till 2034.
The main factor driving the sales of personal emergency response systems in Singapore is the increasing preference for home healthcare settings and advanced healthcare systems. Seniors are becoming lonelier with sprawling urbanization and the fast-paced lifestyle of the working age group in the country creating a higher demand for such systems.
Based on product type, landline devices are likely to account for 57.9% of the total market share in 2024.
Attributes | Details |
---|---|
Top Product Type or Segment | Landline Devices |
Total Market Share in 2024 to 2034 | 57.9% |
Easy deployment and an uninterrupted network of wired cables used for alert devices are pushing the sales of landline systems forward. However, increasing dependence on smartphones and the growing popularity of mobile apps are expected to reduce the share of this segment in the coming days.
Among different end users, home-based users of personal emergency response systems are expected to create 67.8% demand in 2024.
Attributes | Details |
---|---|
Top End User Segment | Home Based Users |
Total Market Share in 2024 | 67.8% |
Higher use of personal emergency response systems among home-based users is primarily swayed by a sense of security that it gives to seniors enabling them to live independently for extended periods of time. These systems also provide comfort and timely aid for customers in all age groups especially those living in remote locations alone.
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The overall market is highly consolidated as a few market players have been yet able to scale their business in response to system production along with collaborating with service providers. Leading market participants are implementing expansion strategies such as acquisitions, mergers, collaborations, partnerships, and product development in order to expand their market share.
One such notable instance was when ADT joined forces with the Harbor Safety and Preparedness platform. The collaboration combines "Safe by ADT," the company's proprietary mobile safety platform, with the disaster preparedness app from Harbor.
Recent Developments in the Global Personal Emergency Response System (PERS) Market
In February 2024, Prepared and Flock Safety teamed up to provide a complete emergency response platform that improves results for law enforcement, victims, and bystanders during emergencies. Developed in collaboration with Prepared, FlockOS 911 provides police and Emergency Communications Centers (ECCs) with superior information obtained straight from the scene, improving the precision of decisions made during critical situations.
MobileHelp, a healthcare technology company based in the United States, has released an updated version of its well-known wall-mounted mobile personal emergency response system. The new model will be waterproof and can be mounted on flat surfaces, as the majority of falls occur in bathrooms, particularly among the elderly.
Attribute | Details |
---|---|
Estimated Market Size (2024) | USD 5,868.1 million |
Projected Market Size (2034) | USD 10,840.5 million |
Anticipated Growth Rate (2024 to 2034) | 6.3% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | USD million or billion for Value and Units for Volume |
Key Regions Covered | North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia and Oceania |
Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
Key Segments Covered | By Type, By End Use Verticals, and By Region |
Key Companies Profiled | AT&T; GreatCall; Tunstall; AlertOne Services LLC; Aerotel medical system Ltd.; Philips Electronics N.V.; |
Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Customization & Pricing | Available upon Request |
The global personal emergency response system market is estimated to be around USD 5,868.1 million in 2024.
The global personal emergency response system market is to grow at 6.3% during the forecast period.
The global personal emergency response system market is predicted to be valued at USD 10,840.5 million by 2034.
The global personal emergency response system market was valued at USD 3,958.5 million in 2019.
Landline device accounts over 50% revenue of the global personal emergency response system market.
India is predicted to witness a CAGR of 7.2% in sales of personal emergency response systems through 2034.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type 5.1. Landline PERS 5.2. Mobile PERS 5.3. Other Types 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User 6.1. Home Healthcare 6.2. Assisted Living Facilities 6.3. Others 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. AlertONE Service Inc. 17.2. Cisco Systems 17.3. Nortek Security and Control 17.4. Valued Relationships, Inc 17.5. Honeywell International 17.6. Tunstall 17.7. Robert Bosch GmbH 17.8. GreatCall 17.9. Koninklijke Philips NV 17.10. ADT 18. Assumptions & Acronyms Used 19. Research Methodology
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