WASHINGTON, June 13, 2023 (GLOBE NEWSWIRE) -- The Global Smart Personal Safety and Security Device Market is valued at USD 41.6 Billion in 2022 and is projected to reach a value of USD 72.6 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 8.3% over the forecast period 2023-2030.
Market Overview
Smart personal safety and security gadgets have played a significant role in guaranteeing end-user safety and protection. Worldwide, governments are emphasizing the importance of personal safety and security. Personal, business, and commercial security systems are all crucial. These solutions are widely used for observation, monitoring, security, and microservices. Thrill seekers are in high demand for these items, which is expected to boost market growth throughout the forecast period.
We forecast that the headwear in Smart Personal Safety and Security Device market sales will account for more than 47% of total sales by 2030. Headwear is any item of apparel donned on one's skull. Urbanisation has improved fashion sensibility worldwide, functioning as a driving force for the market's growth. Athletes frequently regard eyewear, particularly caps, as a sporting necessity, giving rise to styles such as a tracksuit. Cricket, baseball, polo, and tennis players increasingly wear headwear to improve performance, gain extra pleasure, and increase physical wellness.
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Market Dynamics
Increasing Demand for Personal Safety and Security Device to Support Market Expansion
A preference for linked portable tech or advanced smartwatches for personal security and protection is a primary driver of market expansion. This market expansion can be ascribed to various causes, including rising consumer interest in wearables such as timepieces and wristbands and increased penetration of smartphone-connected applications. The government is attempting to improve women's safety through the free distribution of wearable panic buttons, combined with increased unlawful incidences such as roadside or male violence, violence, and so on, which will drive market expansion even further. Throughout the projected period, these factors are expected to contribute to the growth of the global smart personal safety & security device market.
Growing Concerns Regarding Women's and Children's Safety Drive the Market Growth
Concerns about women's and children's safety are projected to be a prominent element in the market's growth due to rising violence, assault, and related crimes. Furthermore, factors such as increased usage of personal safety applications among working women, rapid development options, crime rates, and so on have been ascribed to expansion plans. More rigorous government regulations to protect women and children from abuse boosts the market growth.
Top Players in the Global Smart Personal Safety and Security Device Market
- Telefonaktiebolaget LM Ericsson (Sweden)
- Honeywell International Inc. (U.S.)
- DAQRI (U.S.)
- Unilinear Inc. (U.S.)
- Huawei Technologies Co. Ltd. (China)
- General Electric (U.S.)
- Fitbit Inc. (U.S.)
- Recollar. (U.S.)
- ADT (U.S.)
- Safe let (U.S.)
- KORE Wireless (U.S.)
- McDavid. (Canada)
- Force Impact Technologies L.L.C (U.S.)
- ISH INC. (Taiwan)
- Mammut Sports Group AG (Switzerland)
- 100Plus (U.S)
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Top Trends in the Global Smart Personal Safety and Security Device Market
- One trend that Vantage Market Research (VMR) expects to see in the Smart Personal Safety and Security Device industry is the growing demand for Surging product launches in the Smart Personal Safety and Security Device market. Upcoming products and other developments by significant market participants are increasing, providing new prospects for market growth. These helmets employ an LED strip technology to link visually at the edge of the visual field, proving improved rider safety.
- Another trend that VMR predicts will continue in the industry is its increasing trend of Increasing use of smart wearables for personnel safety. The growing use of smartwatches for personnel safety in industrial environments may drive the demand for Smart Personal Safety and Security Devices. This is evidenced by the increasing consumer appetite for linked smartwatches that provide early threat alerts, emergency aid in times of need, and receiving facts via destination tracking. As a result, the increased adoption of smart wearables for staff safety will generate even more potential for market growth during the projection period.
Top Report Findings
- Based on the Product, the Headwear category controls most of the Smart Personal Safety and Security Device market's revenue. Buyer’s view Headwear, such as scarves and cardigans, as a fashion statement rather than a necessity. This paradigm shifts in buyer buying habits is expected to boost the headgear market throughout the forecast period. Major corporations are progressively releasing headbands in current shapes, such as cushioned and embroidered, to pique consumers' attention.
- Based on Type, most of the Smart Personal Safety and Security Device market's revenue is controlled by the helmet’s category. Due to cyclists' increasing use of smart helmets, full-face is the most popular style. The growing adoption of full-face smart helmets in adventure sports will likely further boost segment growth. Federal enforcement of severe road safety standards is also expected to advance the market. The increased attention of government regulators on reducing driver cell phone usage is projected to boost industry growth even further. The sector's rising advancements and technological advances are projected to drive the market in the coming years.
- Based on Technology, the Senior category controls most of the market's revenue. Sensor developments that continuously give reliable and precise observations have been critical in increasing demands for novel applications, accelerating market growth. Sensor developments that continuously give precise and accurate observations have been critical in strong growth in possible applications, accelerating market growth.
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Recent Developments in the Global Smart Personal Safety and Security Device Market
- In 2021, Teledyne FLIR announced the release of durable future digital sensor-equipped thermal cameras A500f/700F with on-camera analytics and warning features for detection systems and increased in tough situations. These features are perfect for industrial fire tracking and early detection.
- In 2021, Fitbit announced the release of the Fitbit Luxe Special and Fitbit Luxe and Edition smart trackers, which are fashioned like jewellery and include superior sensor technologies. This tracker monitors heart rate variability, breathing rate, resting heart rate, and other parameters.
Sensors Category of the Technology Segment of the Global Smart Personal Safety and Security Device Market Expected to Generate a Substantial Amount of the Global Segment Revenue
For a better understanding, based on the Technology, the market is divided into Networking, Positioning, Sensor and Speech Recognition.
The Sensors category was the largest by Technology in terms of market share and is anticipated to hold the top spot during the projected period. Sensors are used in green infrastructure to make them more productive, attractive, safe, and engaging. Furthermore, many businesses are collaborating and partnering on smart city projects. Sensors are utilized in almost every industrial segment. However, they are most typically found in consumer gadgets, followed by automobiles, IT, and telecommunications. iPhone include sensors such as acceleration, a gyroscope, a sensor for ambient light, a capacitive sensor, and thermometer detectors to track features and provide a centralized system for autonomous control.
On the other hand, the Speech Recognition category is anticipated to grow significantly. Voice recognition, often known as speech-to-text, is the capacity of a machine or program to recognize and transform utterances that spoke aloud into legible text. The market growth for voice-driven location tracking and computers drives growth in the software and computer component sectors.
Asia Pacific Region of the Global Smart Personal Safety and Security Device Market Anticipated to Generate Nearly Half the Global Revenue
The North America region is anticipated to do so in the coming years. The populace of countries such as the United States and Canada is aware of stock availability and applicability, which is a primary factor for a good product adoption rate. Furthermore, as the significance of wellness grows due to factors such as government initiatives, mass awareness campaigns, a responsible health community, and the availability of information, the sales volume of security and safety equipment will rise during the projected period. The U.S. is home to some of the most dominant brands offering cutting-edge systems and equipment for personal use.
The Asia Pacific region is expected to grow fastest in the Smart Personal Safety and Security Device market. The region's presence of many domestic and international smart manufacturing companies, quick deployment of consumer devices, and proliferation of IoT in enterprises are expected to drive the safety connection device market. Smart home technology has advanced home security to new heights. Not only alarms but contemporary cameras, accelerometers, and even smart door locks allow you to convert your home into a fortress and instantly transmit an alert to your cell phone if something goes wrong. These features necessitate dependable safety connection devices, which fuels the expansion.
Browse market data Tables and Figures spread through 149 Pages and in-depth TOC on Smart Personal Safety and Security Device Market Forecast Report (2023-2030).
Global Smart Personal Safety and Security Device Market Segmentation
By Product
- Finger Wear
- Head Wear
- Neck Wear
- Other Products
By Type
- Safety Device
- Smart Helmet
- Smart Mouth Guard
- Smart Knee Guard
- Other Devices
- Security Device
- Wearable Devices
- Bracelet
- Pendant
- Ring
- Other Devices
- Bulletproof Bags
- Personal Alarm
- Panic Button
- Fall Detection Device
- Other Devices
By Technology
- Networking
- Positioning
- Sensor
- Speech Recognition
By Industry
- BFSI
- Healthcare
- Telecommunication
- Défense
- Consumer Electronics
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 41.6 Billion |
| Revenue Forecast by 2030 | USD 72.6 Billion |
| CAGR | 8.3% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Telefonaktiebolaget LM Ericsson, Honeywell International Inc., DAQRI, Unaliwear Inc., Huawei Technologies Co. Ltd., General Electric, Fitbit Inc., Revolar, ADT, Safelet, KORE Wireless, McDavid, Force Impact Technologies LLC, JARVISH INC., Mammut Sports Group AG, 100Plus |
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