In an era where safety and health have never been more important, the global personal emergency response systems (PERS) market is on a fast-paced upward trajectory. According to the latest market analysis, the value of the PERS market is forecasted to grow from USD 5,868.1 million in 2024 to an impressive USD 10,840.5 million by 2034. This substantial growth represents a steady compound annual growth rate (CAGR) of 6.3% over the next decade.
The surge in market value is largely attributed to a combination of technological advancements and heightened public awareness about the essential role that emergency response devices play in ensuring safety and improving health outcomes. PERS devices are increasingly recognized for their ability to enhance self-care and optimize disease management, offering peace of mind to users—particularly the elderly and individuals with medical conditions.
Smartphone proliferation and rising digital literacy across diverse demographic groups are also fueling the widespread adoption of PERS. As individuals become more accustomed to using digital tools, the demand for advanced emergency response systems continues to grow. Additionally, the rising need for safety solutions for individuals living alone or frequently traveling further supports market expansion.
“As technology continues to evolve, PERS devices are becoming more sophisticated, user-friendly, and feature-rich,” said FMI. “Innovation remains at the core of the PERS market, and industry stakeholders are heavily investing in research and development to meet the evolving needs of consumers. We’re confident that the market will continue to grow, enhancing the lives of users with more advanced and comprehensive solutions.”
The ongoing expansion of the PERS market highlights the increasing emphasis on personal safety and healthcare management in today’s society. As the capabilities of emergency response systems expand, these devices are set to become even more integral in safeguarding individuals, improving patient outcomes, and enriching the quality of life.
With consumer safety and health at the forefront of technological innovation, the future of PERS is bright, promising even more advanced solutions in the years to come.
Unveiling Valuable Insights in the PERS Market Report:
A comprehensive PERS market report offers key coverage areas to empower informed decision-making:
- Adjacent Study on Wearable Health Industry: This section delves into the interconnectedness of the PERS market with the booming wearable health industry. It analyzes how advancements in wearable technology are shaping the future of personal emergency response systems.
- Emerging Trends in the USA PERS Market: Gain insights into the latest trends specific to the United States PERS market. This analysis identifies growth opportunities and potential challenges within the US landscape.
- Company-Wise PERS Reviews: The report provides in-depth reviews of leading personal emergency response system companies. This section allows for informed vendor selection based on a comparative analysis of features, functionalities, and market positioning.
- Sales Analysis of PERS Covered by Medicare: A dedicated section explores the sales landscape of PERS covered by Medicare, a crucial factor for seniors seeking financial assistance for these systems.
Accelerated Market Demand: Find Comprehensive Insights and Trends in Our Full Report!
Understanding the Market Growth Drivers:
- Expanding Aging Population: The rising number of elderly individuals globally signifies an increasing demand for PERS solutions that enable independent living with added security.
- Technological Advancements: Continuous advancements in communication technologies, wearable devices, and remote monitoring systems are enhancing the functionalities and effectiveness of PERS.
- Growing Awareness: Increased public awareness regarding the benefits of PERS, particularly among families with aging members, is driving market adoption.
Key Takeaways:
- The global personal emergency response system market is estimated to be worth around USD 5,868.1 million in 2024.
- The market is expected to see a moderate growth at a compound annual growth rate (CAGR) of 6.3%.
- By 2034, the market size is predicted to reach nearly USD 10,840.5 million.
Key Companies Profiled:
- AT&T
- GreatCall
- Tunstall
- AlertOne Services LLC
- Aerotel medical system Ltd.
- Philips Electronics N.V.
Key Segments Covered by Personal Emergency Response System (PERS) Industry Survey Report:
By Type:
- Landline PERS
- Mobile PERS
- Other Types
By End User Verticals:
- Home Healthcare
- Assisted Living Facilities
- Other End Users
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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