Personal Emergency Response System Market- Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032
Description
Market Overview:
The Personal Emergency Response System (PERS) Market is projected to grow from USD 7,505 million in 2024 to an estimated USD 11,916.76 million by 2032, with a compound annual growth rate (CAGR) of 5.95% from 2024 to 2032.
This market growth is driven by the increasing adoption of PERS devices across both residential and healthcare sectors. The adoption of PERS devices has significantly contributed to the market expansion, positioning it for continued growth during the forecast period. Key market drivers include the rising prevalence of chronic conditions and the aging global population, leading to a greater demand for round-the-clock monitoring and emergency response solutions. Additionally, the integration of advanced features such as GPS tracking, fall detection, and mobile-based connectivity is enhancing the functionality and appeal of PERS devices. The push for healthcare systems to reduce costs while improving patient outcomes has also fueled the adoption of these systems, particularly in home-based care settings. Moreover, increasing awareness of personal safety among younger demographics is further driving market demand.
Market Drivers:
Aging Population and Rising Prevalence of Chronic Conditions:
The aging population and the increasing prevalence of chronic conditions are key drivers for the growth of the Personal Emergency Response System (PERS) market. The World Health Organization (WHO) projects the global population aged 60 years and older to reach 2.1 billion by 2050. This demographic shift has amplified the need for continuous health monitoring and emergency assistance, which PERS devices provide. For example, a 2021 study revealed that 89% of older adults who used PERS devices felt safer and more independent. These systems enable elderly individuals to maintain their independence while ensuring their safety, making them crucial for aging-in-place strategies and improving quality of life for the elderly.
Market Challenges:
High Initial Costs and Affordability Concerns:
A significant challenge in the PERS market is the high initial cost associated with advanced devices, particularly those with features like GPS tracking, fall detection, and mobile compatibility. For some consumers, especially those in older demographics or lower-income regions, the upfront cost can serve as a barrier to adoption. Although these systems offer long-term value in terms of safety and peace of mind, the cost of purchasing, installing, and maintaining PERS devices may limit their reach, particularly in cost-sensitive markets.
Segmentation:
By Type:
Landline PERS
Mobile PERS
Other Types
By End-User Verticals:
Home Healthcare
Assisted Living Facilities
Other End Users
Others
By Geography:
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of the Middle East and Africa
Key Players:
Tunstall
ADT Inc.
Koninklijke Philips N.V
LifeWatch USA
Medical Guardian LLC
MobileHelp
AT&T
GreatCall
Aerotel Medical System Ltd
AlertOne Services LLC
The Personal Emergency Response System (PERS) Market is projected to grow from USD 7,505 million in 2024 to an estimated USD 11,916.76 million by 2032, with a compound annual growth rate (CAGR) of 5.95% from 2024 to 2032.
This market growth is driven by the increasing adoption of PERS devices across both residential and healthcare sectors. The adoption of PERS devices has significantly contributed to the market expansion, positioning it for continued growth during the forecast period. Key market drivers include the rising prevalence of chronic conditions and the aging global population, leading to a greater demand for round-the-clock monitoring and emergency response solutions. Additionally, the integration of advanced features such as GPS tracking, fall detection, and mobile-based connectivity is enhancing the functionality and appeal of PERS devices. The push for healthcare systems to reduce costs while improving patient outcomes has also fueled the adoption of these systems, particularly in home-based care settings. Moreover, increasing awareness of personal safety among younger demographics is further driving market demand.
Market Drivers:
Aging Population and Rising Prevalence of Chronic Conditions:
The aging population and the increasing prevalence of chronic conditions are key drivers for the growth of the Personal Emergency Response System (PERS) market. The World Health Organization (WHO) projects the global population aged 60 years and older to reach 2.1 billion by 2050. This demographic shift has amplified the need for continuous health monitoring and emergency assistance, which PERS devices provide. For example, a 2021 study revealed that 89% of older adults who used PERS devices felt safer and more independent. These systems enable elderly individuals to maintain their independence while ensuring their safety, making them crucial for aging-in-place strategies and improving quality of life for the elderly.
Market Challenges:
High Initial Costs and Affordability Concerns:
A significant challenge in the PERS market is the high initial cost associated with advanced devices, particularly those with features like GPS tracking, fall detection, and mobile compatibility. For some consumers, especially those in older demographics or lower-income regions, the upfront cost can serve as a barrier to adoption. Although these systems offer long-term value in terms of safety and peace of mind, the cost of purchasing, installing, and maintaining PERS devices may limit their reach, particularly in cost-sensitive markets.
Segmentation:
By Type:
Landline PERS
Mobile PERS
Other Types
By End-User Verticals:
Home Healthcare
Assisted Living Facilities
Other End Users
Others
By Geography:
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of the Middle East and Africa
Key Players:
Tunstall
ADT Inc.
Koninklijke Philips N.V
LifeWatch USA
Medical Guardian LLC
MobileHelp
AT&T
GreatCall
Aerotel Medical System Ltd
AlertOne Services LLC
Table of Contents
187 Pages
- CHAPTER NO. 1 : INTRODUCTION
- 1.1.1. Report Description
- Purpose of the Report
- USP & Key Offerings
- 1.1.2. Key Benefits for Stakeholders
- 1.1.3. Target Audience
- 1.1.4. Report Scope
- CHAPTER NO. 2 : EXECUTIVE SUMMARY
- 2.1. [Personal Emergency Response System Market] Snapshot
- 2.1.1. [Personal Emergency Response System Market], 2018 - 2032 (USD Million)
- CHAPTER NO. 3 : [Personal Emergency Response System Market] – INDUSTRY ANALYSIS
- 3.1. Introduction
- 3.2. Market Drivers
- 3.3. Market Restraints
- 3.4. Market Opportunities
- 3.5. Porter’s Five Forces Analysis
- CHAPTER NO. 4 : ANALYSIS COMPETITIVE LANDSCAPE
- 4.1. Company Market Share Analysis – 2023
- 4.2. [Personal Emergency Response System Market] Company Revenue Market Share, 2023
- 4.3. Company Assessment Metrics, 2023
- 4.4. Start-ups /SMEs Assessment Metrics, 2023
- 4.5. Strategic Developments
- 4.6. Key Players Product Matrix
- CHAPTER NO. 5 : PESTEL & ADJACENT MARKET ANALYSIS
- CHAPTER NO. 6 : [Personal Emergency Response System Market] – BY [By Type] ANALYSIS
- CHAPTER NO. 7 : [Personal Emergency Response System Market] – BY [By End User Verticals] ANALYSIS
- CHAPTER NO. 8 : [Personal Emergency Response System Market] – BASED ON [Based on the Geography] ANALYSIS
- CHAPTER NO. 9 : COMPANY PROFILES
- 9.1. Tunstall
- 9.1.1. Company Overview
- 9.1.2. Product Portfolio
- 9.1.3. SWOT Analysis
- 9.1.4. Business Strategy
- 9.1.5. Financial Overview
- 9.2. ADT Inc.
- 9.3. Koninklijke Philips N.V
- 9.4. LifeWatch USA
- 9.5. Medical Guardian LLC
- 9.6. MobileHelp
- 9.7. AT&T
- 9.8. GreatCall
- 9.9. Aerotel Medical System Ltd
- 9.10. AlertOne Services LLC
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