Personal Emergency Response Systems (PERS) Market Research Report - Global Forecast till 2027

Personal Emergency Response Systems (PERS) Market Research Report: By Type (Mobile Personal Emergency Response System (Cellular Emergency Response System, Wireless Emergency Response System, GPS-based Emergency Response System), Landline Personal Emergency Response System, Standalone Personal Emergency Response System (Transmitters, R-cube/V-cube Monitoring System, Wandering System)), End-User (Home-based Users, Senior Living Facilities, Assisted Living Facilities), Region (North America, Europe, Asia-Pacific, Middle East & Africa, South America) - Forecast till 2027

ID: MRFR/SEM/3104-CR | October 2020 | Region: Global | 110 pages

Personal Emergency Response Systems (PERS) Market Snapshot


Personal Emergency Response Systems Market was valued at USD 3,675.0 Million in 2019; it is estimated to reach USD 5,540.2 Million in 2025 with a compound annual growth rate of 7.4% during the study period 2020–2025. The Personal Emergency Response System is an emergency device that is used during emergencies or incidence of casualty which potentially mitigates the consequences as the information is passed to the caretakers or health care facilities. The Personal Emergency Response systems are primarily used by differently-abled people and elderly people. Moreover, the advancements in technology accompanied by the prevalence of smart devices and smartphones across the globe are presenting a lucrative opportunity for the overall growth of the Personal Emergency Response systems market. The affordability and the increasing demand for smartwatches and wearable in the developed regions are also increasing the Personal Emergency Response Systems market demand. The Personal Emergency Response Systems are designed in a way that they act promptly and alert the emergency services and reduce the severity of the emergencies. The advent of sensor technologies and other technologies is impacting the overall growth of the Personal Emergency Response Systems industry.


 


COVID 19 Analysis:


 


The COVID 19 pandemic has negatively impacted the growth of various industrial verticals. However, the demand for medical services and pharmaceutical companies was surging throughout the pandemic. The demand continues to grow post-pandemic as well. The shutting down of the manufacturing processes and the prolonged lockdown have severely impacted the growth of the Personal Emergency Response Systems industry in recent years. However, Post-pandemic, Non-COVID patients were looking for telemedicine and healthcare facilities and are increasingly adopting the Personal Emergency Response Systems. Such factors are positively impacting the overall growth of the Personal Emergency Response System industry.


 


Market Dynamics:


 


Market Drivers:


 


The increasing geriatric population and the higher disposable income are the two major growth driving factors of the Personal Emergency Response System market. A recent report by World Health Organization shows that the geriatric population is expected to account for over 2 billion by the year 2050. Such factors are stimulating the overall growth of the Personal Emergency Response System market. 


 


The health care expenditure in several regions is rapidly increasing as the diseases are due to improper care and delayed diagnosis. Such factors have increased the awareness regarding immediate hospitalization in the case of emergencies or symptoms. Therefore the severity of the illness or the casualties is significantly reduced.  


 


Market Opportunities: 


 


The technological advancements and the increasing prevalence of diseases and chronic illnesses, heart failures, Alzheimer's and epileptic seizures, and some other medical emergencies are demanding the immediate attention of healthcare specialists. Such factors are increasing the Personal Emergency Response Systems market demand.


 


The Personal Emergency Response Systems are adopting smartphone-based applications and smart devices with advancing technologies, that are deployed with sensors, AI, and IoT technologies, which analyze the situation promptly and take the necessary action without any human assistance. Such factors are presenting lucrative opportunities for the overall growth of the Personal Emergency Response systems market.


 


Market Restraints:


 


The Personal Emergency Response Systems deploys subscription-based services which limit the services for the particular period. The costs of the subscription services are higher, even when no services are availed for the given time. Such factors lead to wastage of energy and cost spent for the purpose. Such factors are hindering the overall growth of the Personal Emergency Response Systems market.


 


Data security issues and privacy issues are expected to hinder the overall growth of the Personal Emergency Response Systems market. Since the personal information including the location and other private information is shared where the IoT technologies are involved the security threat rates are higher. Such factors are hindering the overall growth of the Personal Emergency Response Systems market.


 


Market Challenges:


 


The higher costs associated with installing the Personal Emergency Response systems are affecting the sales and the adoption in the lower economic range. Especially the middle-income nations are reacting negatively about the higher price range of the Personal Emergency Response systems. 


 


On the other hand, the lack of technical knowledge and the skilled technicians to support the growth are considered as the major challenge for the overall growth of the Personal Emergency Response Systems market.


 


Cumulative Growth Analysis:


 


The Personal Emergency Response Systems in developed countries like the U.S was holding the market value of over USD 2.5 billion in the year 2020 amidst COVID 19. This is because of the increasing trend of independent living across the region. The older population across the globe is increasing and the necessity for urgent attention at any casualties is considered as the major market driver of the Personal Emergency Response Systems market. The global market value of the Personal Emergency Response Systems market was at USD 3,675.0 million in the year 2019 and the market value is expected to surpass USD 5,540.2 Million by the year 2025 while registering a CAGR of 7.74%. The primary consumers such as elderly and differently-abled people are not receiving immediate attention or help using the conventional Emergency response systems, therefore the Personal Emergency Response Systems market demand has been increasing in recent times. On the other hand, the hospitals, medical service facilities are increasingly adopting the Personal Emergency Response Systems to ensure the quality of service offered at such facilities. 


 


Value Chain Analysis:


 


The growth of the Personal Emergency Response Systems market is highly influenced by potential end-users such as consumer electronics, IT and telecommunications, automotive, and others. The mobile Personal Emergency Response Systems market share was holding nearly 37.2% in the year 2019 with a market value of over USD 1362.9 million. The Emergence of Wireless communication such as GPS, cellular and Wi-Fi technologies are increasingly adopted by the Personal Emergency Response Systems that helps in an instant and hands-free communication and facilitate the services. On the other hand, the market players are collaborating with the telemedicine providers which help facilitate virtual primary care. Such factors are presenting lucrative opportunities for the overall growth of the Personal Emergency Response Systems market.


 


Segment Overview:


 


Based on Type:


 



  • Standalone PERS

  • Transmitter

  • R-cube monitoring systems

  • Standalone voice dialer

  • Wandering system

  • Medical alarm system

  • Landline PERS

  • Mobile PERS

  • Wireless 

  • GPS

  • Cellular


 


Based on End-user:


 



  • Nursing home

  • Home-based user

  • Assisted living facilities

  • Hospices

  • Senior living facilities


 


Based on Component:


 



  • Smoke detectors

  • Bed sensors

  • Pull-cord residential 

  • Fall detection sensors

  • Flood detectors


 


Regional Analysis:


 


North America was holding a market share of over 37.45% in the year 2019 with a market value of over USD 1376.1 million. Since North America possesses an increasing geriatric population and several market players, the market value is expected to grow with a steady CAGR of 7.9%. The health care facilities are increasingly adopting the new technological advances and the American government is also providing health care facilities to the elderly population in recent years. 


 


On the other hand, the Asia-pacific region is witnessing admirable growth in the Personal Emergency Response System market. The increasing number of geriatric population and the differently-abled individuals in the region is highly impacting the overall growth of the Personal Emergency Response systems market. The Asia-pacific region is growing with the aid of government incentives and foreign investments for the manufacturing and overall adoption of the Personal Emergency Response systems market. 


 


Competitive Landscape:


 



  • ALERTONE SERVICES LLC (US)

  • Cisco Systems, Inc. (US)

  • Nortek Security and Control (US)

  • VR (US)

  • Honeywell International Inc. (US)

  • Tunstall (UK)

  • Robert Bosch GmbH (Germany)

  • GreatCall Inc. (US)

  • Koninklijke Philips NV (Netherlands)

  • ADT (US) 


 


Recent Developments:


 


In the year 2019, one of the leading market players, Nortek Security and Control has introduced a novel fall detection technology which is named Libris 2 Mobile PERS. The device is comprised of 4G/LTE support and an improved mic and speaker for clear communication. The device is capable of detecting the fall with a potential range of 10-11 feet range. Moreover, the device possesses Wi-Fi Location services, Silent Alarm mode, and Ambient light sensors. 


 


In the year 2019, one of the leading market players, Koninklijke Philips has launched the Philips Care app which can be accessed through a smartphone or computer, which enables the user to update the emergency response plans and the contact information. Also, the applications help in monitoring the daily tasks of elderly people as well.


 


Report Overview:


 


This report has covered:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segment Overview

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 5,540.2 Million
  CAGR   7.4%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   ALERTONE SERVICES LLC (US), Cisco Systems, Inc. (US), Nortek Security and Control (US), VRI (US), Honeywell International Inc. (US), Tunstall (UK), Robert Bosch GmbH (Germany), GreatCall Inc. (US), Koninklijke Philips NV (Netherlands), and ADT (US)
  Key Market Opportunities   Developing new infrastructure and adopting new technologies for increasing healthcare infrastructure.
  Key Market Drivers

  • The growing aging population across the globe.
  • High per capita disposable income and improving medical infrastructure.


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    Frequently Asked Questions (FAQ) :


    the global personal emergency response systems market 2020 was poised at a substantial USD 3,675.0 Million in 2019

    The global PERS market is slated to record about USD 5,540.2 Million in 2025 .

    The global market for the global personal emergency response systems is poised to mature at a CAGR of 7.4% over the review period.

    That are the factors hindering the growth of the global personal emergency response systems market?

    Growing ownership of smartphones and wearable devices for health monitoring and the need for convenient and user-friendly medical alert devices are driving the growth of the personal emergency response systems market size over the review period.

    Based on type, the mobile segment (wireless, cellular, and GPS-based) accounted for the maximum market value in 2018, with a market share of USD 1.4 million; it is slated to register the highest CAGR during the review period.

    The major market players acknowledged by MRFR in the global personal emergency response systems market are Cisco Systems, Inc. (the US), Honeywell International, Inc. (the US), Koninklijke Philips NV (Netherlands), Robert Bosch GmbH (Germany), among others.