Overview and Scope
Smart personal safety and security devices refer to devices that are connected to the internet for remote monitoring and are crafted to elevate user safety. These devices are used to track various health metrics, such as heart rate, body temperature, and steps taken.
Sizing and Forecast
The smart personal safety and security device market size has grown rapidly in recent years. It will grow from $5.52 billion in 2023 to $6.14 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to increasing use of smart wearables, increasing demand for personal safety and security device, growing concerns regarding women and children safety, spread of false information, rising demand amongst various fields and applications like sports, increasing adoption of personal safety apps.
The smart personal safety and security device market size is expected to see rapid growth in the next few years. It will grow to $9.41 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to growing demand for IoT, increasing penetration of smart phone related applications, rising crime rates, growing government initiatives to improve women’s safety. Major trends in the forecast period include product innovation, integration of GPS tracking technology, advances in information communication technology, development of intelligent solutions, growing strategic partnerships.
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Segmentation & Regional Insights
The smart personal safety and security device market covered in this report is segmented –
1) By Type: Smart Personal Security, Smart Personal Safety
2) By Technology: Networking, Positioning, Sensor, Speech Recognition
3) By End User: Consumers, Defense, Factories, BFSI, Healthcare, Telecommunications, Other End-Users
North America was the largest region in the smart personal safety and security device market in 2023. The regions covered in the smart personal safety and security device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising crime rate is expected to propel the growth of the smart personal safety and security device market going forward. The rise in crime rates is due to weak or corrupt law enforcement agencies, lack of resources, or ineffective policing strategies that can fail to deter criminal behavior and enforce laws effectively. Smart personal safety and security devices serve as proactive measures in crime prevention by increasing surveillance, enhancing response capabilities, and empowering individuals to take control of their safety. For instance, in March 2023, according to a report issued by the Federal Bureau of Investigation, a US-based law enforcement agency, reported hate crime incidents increased 11.6% from 8,120 in 2020 to 9,065 in 2021. Therefore, the rising crime rate is driving the growth of the smart personal safety and security device market.
Key Industry Players
Major companies operating in the smart personal safety and security device market are Huawei Technologies Co. Ltd., Schneider Electric SE, Honeywell International Inc., 3M Company, Koninklijke Philips N.V., Rockwell Automation Inc., Adt Inc., Fitbit Inc., Uvex Group, Arlo Technologies Inc., GreatCall Inc., Buddi Limited, Daqri LLC., Ergodyne Corp, BrickHouse Security Company, Revolar Inc., Safelet B.V., Vuzix Corporation, Force Impact Technologies Inc., Noonlight Inc., Lockly, Careline 365, Jarvish Inc., KJB Security Products Inc., Trackimo LLC, Unaliwear Inc., 100Plus Inc.
The smart personal safety and security device market report table of contents includes:
1. Executive Summary
2. Smart Personal Safety And Security Device Market Characteristics
3. Smart Personal Safety And Security Device Market Trends And Strategies
4. Smart Personal Safety And Security Device Market – Macro Economic Scenario
5. Global Smart Personal Safety And Security Device Market Size and Growth
….
32. Global Smart Personal Safety And Security Device Market Competitive Benchmarking
33. Global Smart Personal Safety And Security Device Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Smart Personal Safety And Security Device Market
35. Smart Personal Safety And Security Device Market Future Outlook and Potential Analysis
36. Appendix
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