The smart personal safety and security device market revenue totalled US$ 9.1 Bn in 2021. The smart personal safety and security device market is estimated to reach US$ 33.5 Bn by 2032, growing at a CAGR of 12.7% for 2022 – 2032.
| Attributes | Details |
|---|---|
| Estimated year (2022) market Value | US$ 10.1 Billion |
| Projected year (2032) Value | US$ 33.5 Billion |
| CAGR% (2022 to 2032) | 12.7% |
| Top 5 Vendor market Share | Around 30% |
The smart personal safety and security device are physical objects integrated with the Internet for remote monitoring. user can wear it or carry it. Like as anklets, necklaces, or watches. Some wearable devices can track steps taken during the whole day, heart rate monitoring at different times of the day and night while sleeping, body temperature when sick, and more. Smart personal safety and security devices comprises of 5% of physical security market
Newest smart personal safety and security device also integrate with the GPS tracking technology to provide the geospatial location information about locations used on maps in relation to other people's locations. smart personal safety and security device support wireless operation and can connect to the Internet using third-party tools. These devices are also designed to immediately send an emergency text to a close friend or family member with the push of a button.
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The smart personal safety and security device market demand is estimated to grow at a 12.7% CAGR between 2022 and 2032 in comparison with 10.6% CAGR registered during the historic period (2017-2021).
Rising crime rates, especially against women and children, and advances in information communication technology are expected to fuel the growth of smart personal safety and security device market. Even after many technological advances, the safety of women and children has always been an issue. With the advent of the Internet of Things (IoT), many intelligent solutions are being developed on a global scale to improve user security.
The trend towards advanced smart wearables or connected wearable devices can also be considered a major driver of the growth of the smart personal safety and security device market. This market growth is attributed to various factors such as increasing consumer shift towards smart wearables such as smart watches, smart bands and smart bracelets, increasing penetration of smart phone related applications.
Government initiatives to improve women's safety through free distribution of portable panic buttons and rising crime incidents such as roadside harassment and abuse drive the smart personal safety and security device market.
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The North America to hold highest market share of 28.6% for the smart personal safety and security device market and South Asia & Pacific is estimated to grow by highest CAGR of 20.1% during the forecast period of 2022-2032.
North America is a major contributor, with the participation of smart personal safety and security device manufacturers, increasing user awareness of personal safety, increasing awareness of the usage of these smart security devices, and favourable regulatory policies leading to high market growth.
South Asia and Pacific region is estimated to showcase high growth because of the high population this region has and the increasing market for consumer electronics.
USA is predicted to remain the most attractive market during the forecast period. According to the study, the USA smart personal safety and security device market was estimated to account for the highest market share of 17.8% in 2021.
The US market for smart personal safety and security devices is driven by smart devices with advanced features and increasing trend towards new product development in the wrist and neckwear segment. In addition, advances in communication technology and rising security concerns of end-users are expected to drive the market for smart personal safety and security devices further.
The market for smart personal safety and security devices in Germany is estimated to grow at highest CAGR of 10.4% during the forecast period.
The German market for smart personal security and safety devices is driven by increasing demand and consumption of smart security and safety devices by tech-savvy citizens. After Germany, China and Japan became second and third largest markets in the smart personal safety and security devices market.
China smart personal safety and security device market accounted for the market share of 12.5% in 2021.
China will witness remarkable growth in the smart personal safety and security devices market during the forecast period. Rising crime rates, high defence spending by developing country China, the need to control such criminal incidents, government initiatives, and increasing adoption of IoT have all contributed to the country's smart personal safety and security device market growth.
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Smart personal security estimated to hold the largest market share in 2021 of 56.5% and smart personal safety is estimated to be the fastest growing segment by type for smart personal safety and security device market with a CAGR of 14.5% for the forecast period.
Factors such as high R&D activity related to smart helmets, and a significant consumer shift to smart personal safety and technologically advanced products are attributed to the market growth for smart Personal Safety and Security Devices. Integrations such as voice recognition or voice-activated technologies, biometrics, and increasing professional adoption of personal security devices such as pepper spray cameras are also likely to drive smart personal safety and security device market growth.
Consumer in end user segment to hold largest market share of smart personal safety and security device market during forecast period which is accounted for 24.5% in 2021. While BFSI in end user segment to account the highest CAGR of 20.1% in 2021.
smart personal safety and security device in consumer electronics applications are used to prevent unauthorized access to data, personal information or intellectual property. They are also used to ensure secure transactions such as e-commerce payments. The smart personal safety and security device market is experiencing exponential growth due to the increase in cybercrime and the need for security measures against it. Additionally, the increasing number of smart devices used by consumers has created a need for organizations (such as banks) to provide protection and software solutions that help protect their valuable assets.
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,
| Attribute | Details |
|---|---|
| market Value in 2022 | US$ 10.1 Billion |
| market CAGR 2022 to 2032 | 12.7% |
| Share of top 5 players | Around 30% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| market Analysis | USD Million for Value |
| Key Region Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; and the Middle East & Africa |
| Key Segments Covered | Type, End User and Region |
| Key Companies Profiled | Force Impact Technologies Inc.; Honeywell International Inc.; Ericsson.; Daqri, LLC.; General Electric Company.; Unaliwear, Inc.; Revolar, Inc.; Fitbit, Inc.; ADT, Inc.; Huawei Technologies Co. Ltd.; Safelet B.V.; KORE Wireless Group; 100Plus, Inc. |
| 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 smart personal safety and security device market was valued at US$ 9.1 Bn in 2021 and is estimated to grow at CAGR of 12.7% during the forecast period, which will reach the market value of US$ 33.5 Bn by 2032.
Germany market is expected to show a rapid growth during the forecast period, where it will represent a CAGR of around 10.4%.
The smart personal safety and security device market share in India was around 8.0% in 2021.
The smart personal safety and security device market growth between 2022 and 2032 is around 12.7%.
The top 3 countries driving demand for smart personal safety and security devices include the USA, Germany and China
Some of the leading companies in this landscape are Force Impact Technologies Inc., Honeywell International Inc., Ericsson, Daqri, LLC, General Electric Company, Unaliwear, Inc.
The market in last 5 years (2017 – 2021) has grown by a CAGR of 10.6%.
Smart personal security segment is expected to dominate the market in the year 2021, generating a maximum revenue, by the end of 2032.
The smart personal safety and security device market share in China was around 12.5% in 2021.
Consumers segment is expected to dominate the market in the year 2021, generating a maximum revenue, by the end of 2032.
The market share of South Asia and Pacific for the year 2021 for the smart personal safety and security device was 14.2%.
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