“Over the forecast period, the growing inclination for sophisticated smart devices with advanced features and new product innovations in the wrist and neckwear sectors is likely to boost the expansion of the global smart personal safety and security device market.”
The global smart personal safety and security device market is estimated to grow at a 7.4% CAGR from 2022 to 2032.
Smart personal safety and security devices are intuitive and self-contained. A third-party tool can link them to the internet wirelessly. By monitoring and quantifying the impact with the gadget, the smart personal safety device ensures the end-safety. user’s
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While, smart personal security device has the ability to send an emergency message to friends and family instantly on a single press, hence enhances end-user’s safety. These devices are gaining traction in various sports applications and being increasingly used by outdoor enthusiast, which is driving the growth of global smart personal safety and security device market. They are also being used as smart home devices which is adding to their popularity.
How is the Smart Personal Safety and Security Device Market Classified?
“Manufacturers in the smart personal safety and security device market experiment with the networking technology, positioning technology, sensor technology and speech recognition technology to gain competitiveness.”
On the basis of type, the global smart personal safety and security market can be segmented into smart personal safety device and smart personal security device.
The smart personal safety device segment includes smart helmet, smart mouth guard, smart knee guard and other device. The global smart personal security device segment is further sub-segmented into bracelet, pendant, key rings and other device. Some other devices include Wi-Fi smart camera and Wi-Fi light camera.
The global smart personal safety and security market can be segmented based on technology which includes networking technology, positioning technology, sensor technology and speech recognition technology segments.
On the basis of product, the global smart personal safety and security market can be segmented into finger wear, head wear, neck wear and other segments.
Which Region Has a High Growth Potential in the Smart Personal Safety and Security Device Market?
The global smart personal safety and security device market is expected to witness a healthy CAGR throughout the period due to growing awareness concerning personal safety and security among users. Regionally, the global personal safety and security device market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA).
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Globally, among all the regions, North America is projected to account for the highest market share followed by Western Europe over the projected period. The U.S. is expected to be the dominant market for smart personal safety and security device in the North American region.
What are the Key Factors Impacting the Smart Personal Safety and Security Device Market Growth?
“High initial selling price associated with these devices and lack of awareness across developing regions will hinder the growth of global personal safety and security device market during the forecast period.“
Furthermore, advancement in communication technologies and growing safety and security concerns among end-users, particularly women with the rise in sale of personal alarms for women is further supporting the growth of global personal safety and security device market across the globe.
There has been a significant rise in wireless devices like Wi-Fi smart camera, Wi-Fi light camera, and smart lock for home.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.