IMARC Group, a leading market research company, has recently releases report titled “Personal Emergency Response System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global personal emergency response system market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the personal emergency response system market?

What is personal emergency response system?

A personal emergency response system (PERS) is a device specifically designed to provide individuals with immediate access to assistance during emergencies. It consists of a button that can be connected to a phone, enabling individuals to communicate with an operator through the base unit at the emergency response center. The operator assesses the situation and the patient's history, and then notifies the appropriate contacts accordingly. PERS devices often include mobile applications that allow users to check in with the response center or request help.

These systems offer additional features such as medication and appointment reminders, as well as the capability to detect smoke, household temperatures, and carbon monoxide. Furthermore, PERS devices can integrate with home automation systems, including security systems and smart thermostats. This integration allows users to conveniently control and monitor their homes from a single device, enhancing overall security. As a result, personal emergency response systems are widely adopted by both home-based users and assisted living facilities worldwide.

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What are the growth prospects and trends in the personal emergency response system?

The market for personal emergency response systems (PERS) is primarily driven by the increasing prevalence of chronic diseases such as diabetes, cancer, and viral infections. Additionally, the growing population of older adults who are susceptible to serious medical conditions like stroke and Alzheimer's, as well as the rising awareness of the benefits of using PERS, especially among individuals living alone or traveling alone, are contributing to market growth. The demand for wearable devices such as fitness bands, smartwatches, and fitness trackers, which can connect to smart devices to collect real-time patient data, is also influencing market growth.

Furthermore, technological advancements such as the integration of artificial intelligence (AI) and global positioning system (GPS) in PERS devices, enabling them to determine the user's location and transmit it to the emergency response center in situations where communication is not possible, are significant factors driving market growth.

Moreover, increasing concerns about home safety and security due to rising incidents of thefts and burglaries are further fueling the adoption of PERS devices. The PERS market exhibits varying growth rates in different regions, with North America being the largest market due to technological advancements, increased healthcare expenditure, a growing elderly population, government initiatives, and greater awareness and acceptance of PERS systems in the region. The industry is also expected to face competition in the future, as key players implement competitive strategies to maintain their market presence. For example, Koninklijke Philips N.V. introduced a product called Philips Care, a new application platform that tracks and manages various records related to regular check-ups and follow-ups for senior citizens.

Furthermore, extensive research and development (R&D), new product launches, and mergers and acquisitions (M&A) among leading players are shaping a positive outlook for the global market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Type Insights:

• Mobile PERS
• Landline PERS
• Others

End User Insights:

• Home-based Users
• Assisted Living Facilities
• Others

Breakup by Geography:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• ADT Inc.
• Alert1 Medical Alert Systems
• Bay Alarm Medical (Bay Alarm Company)
• GreatCall Inc. (Best Buy Co. Inc.)
• Guardian Alarm
• Koninklijke Philips N.V.
• Life Alert Emergency Response Inc.
• LogicMark Inc.
• Medical Guardian LLC
• Rescue Alert
• Tunstall Group Limited
• VRI Inc. (Modivcare Inc.)

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