Personal Safety Alarms Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2032

Personal Safety Alarms Industry Prospective:

The global Personal Safety Alarms market size was worth around USD 90.2 million in 2023 and is predicted to grow to around USD 158.9 million by 2032 with a compound annual growth rate (CAGR) of roughly 6.5% between 2024 and 2032.       

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Personal Safety Alarms Market: Overview

A personal alarm is a small gadget that makes a loud noise or siren. The gadget fits in the palm of individual hands and may be worn as a keychain. When a person hits the device's button, it produces an ear-piercing sound. The sound is intended to terrify the assailant and notify those around. Another sort of personal alarm is designed for the elderly who are unable to properly care for themselves.

This sort of personal alarm is commonly known as a "medical alert pendant." The pendant will call for aid or notify a caregiver that the elderly person requires emergency assistance. Personal alarms can provide protection and assistance to persons in severe need.

Key Insights

• As per the analysis shared by our research analyst, the global Personal Safety Alarms market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2024-2032).
• In terms of revenue, the global Personal Safety Alarms market size was valued at around USD 90.2 million in 2023 and is projected to reach USD 158.9 million, by 2032.
• The growing concerns about personal safety are expected to propel the market growth.
• Based on the product type, the vehicle safety alarm segment is expected to hold a significant market share over the forecast period.
• Based on the price, the medium segment is expected to grow at a substantial rate during the forecast period.
• Based on the distribution channel, the online segment is expected to grow at the highest CAGR during the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

Personal Safety Alarms Market: Growth Drivers

Growing personal safety concerns drive market growth

The global need for personal safety alarms is expanding as the incidence of crimes such as robbery, theft, house break-ins, and dacoity rises. For instance, in 2021, crimes against the human body amounted to 30% of all cognizable IPC offenses, while crimes against property accounted for 20% and other IPC crimes accounted for 29.7%. In 2021, there were 2.1 homicides per 100,000 people, 7.4 kidnappings, and 4.8 rapes per 100,000.

According to the most current data from the Centers for Disease Control and Prevention (CDC), more Americans died as a result of gun-related injuries in 2021 than in any previous year. Thus, the factors listed above will drive the expansion of worldwide personal safety alarms throughout the forecast period.

Personal Safety Alarms Market: Restraints

The presence of substitutes hampers market growth

Personal safety whistles, which are developed for security purposes, have the potential to be an effective replacement for personal safety alarms. Furthermore, whistles are less expensive and easier to use than personal safety alarms, which may represent a significant barrier to the personal safety alarms market's growth.

Some of the primary reasons for the increased acceptance of personal safety whistles include the fact that whistles do not require a battery to work and may be worn on the wrist or draped around the neck for quick deployment. Thus, the growing preference for safety whistles may considerably restrict the worldwide personal safety alarms market growth throughout the forecast period.

Personal Safety Alarms Market: Opportunities

Increasing product launches offer a lucrative opportunity for market growth

The increasing product launches are expected to propel the personal safety alarms market growth during the projected period. For instance, in October 2023, Swann Security, a worldwide pioneer in security solutions, launched its innovative personal safety device, the Swann ActiveResponse™ alarm.

This unique gadget represents a huge advancement in personal safety technology, allowing individuals to take greater control of their safety than ever before. The ActiveResponse™ Personal Safety Alarm is small and user-friendly, providing peace of mind at home, in travel, or on the road.

Personal Safety Alarms Market: Challenges

Concern over privacy poses a major challenge to market growth

The utilization of advanced features in personal safety alarms including GPS tracking and connectivity to smartphones are raising privacy concerns among individuals. Many individuals may be hesitant to use these devices that collect and transmit location data due to privacy considerations. Thus, the concern over privacy poses a major challenge for the personal safety alarms industry.

Personal Safety Alarms Market: Segmentation

The Global Personal Safety Alarms industry is segmented based on product type, price, distribution channel, and region.

Based on the product type, the global Personal Safety Alarms market is bifurcated into Vehicle Safety Alarm, Mobile Phone App, Keychain, Stand-Alone Devices, Panic Button, Smart Personal Safety, Pendant and Wrist Band and Others. The vehicle safety alarm segment is expected to hold a significant market share over the forecast period. The growth of the vehicle safety alarm segment is attributed to the growing initiatives by the market players. For instance, in May 2023, LG Electronics (LG) announced the debut of LG MyCar Alarm Service, an integrated automobile alarm system. The cutting-edge system is integrated with Infoconn, KG Mobility's linked car service as a mobile application, and has been used in the Korean-based global automaker's new REXTON SPORTS&KHAN CULMEN, REXTON NEW ARENA. LG MyCar Alarm Service is intended to operate seamlessly with today's automobiles, enhancing and expanding the mobility experience.

Based on the price, the global Personal Safety Alarms industry is categorized into Economy, Medium and Premium. The medium segment is expected to grow at a substantial rate during the forecast period owing to its good quality at a reasonable price.

Based on the distribution channel, the global Personal Safety Alarms industry is divided into B2C, B2B and Online. The online segment is expected to grow at the highest CAGR during the forecast period. The segment growth is attributed to the rising consumer awareness. Additionally, the ease of purchasing products from online platforms also provides an attractive opportunity for market growth over the projected period.

Personal Safety Alarms Market: Report Scope

Regional Analysis

North America is expected to dominate the market during the forecast period

North America is expected to dominate the market during the forecast period. The regional growth of the market is attributed to the rising awareness and concerns related to safety. In addition, increased R&D efforts in smart helmets, smart pendants, and personal panic alarms, as well as the growing use of wearable technologies, can help to drive market expansion in the area. Furthermore, the growing product launch in the region also propels market expansion. For instance, in June 2023, SimpliSafe, a manufacturer of award-winning smart home security systems, announced the launching of 24/7 live guard protection and the Smart Alarm Wireless Indoor Security Camera.

The new Smart Alarm Indoor Camera's industry-first professional monitoring capability allows monitoring agents to view and communicate directly with intruders, perhaps helping to stop crime in real time. Besides, the Asia Pacific is expected to grow at the highest CAGR during the forecast period. The market expansion in the region is owing to the increasing urbanization. For instance, according to the United Nations report, the Asia Pacific region dominates the urbanization trend, 54% of the global urban population resides in Asia. The urban population in Asia is expected to grow around 50% by 2050.

Personal Safety Alarms Market: Competitive Analysis

The global Personal Safety Alarms market is dominated by players like:

• SABRE
• Doberman Security Products Inc.
• BASU Corporation
• Honeywell International Inc.
• Daqri
• JNE Security Ltd.
• Mace Security International Inc.
• Revolar
• Safelet B.V.
• 100Plus
• Force Impact Technologies Inc.
• Skyguard Limited
• WEALARMS Ltd
• SABRE - Security Equipment Corpor
• Unaliwear
• Huawei Technologies Co. Ltd.
• General Electric Company
• Fitbit

The global Personal Safety Alarms market is segmented as follows:

By Product Type

• Vehicle Safety Alarm
• Mobile Phone App
• Keychain
• Stand-Alone Devices
• Panic Button
• Smart Personal Safety
• Pendant and Wrist Band
• Others

By Price

• Economy
• Medium
• Premium

By Distribution Channel

• B2C
• B2B
• Online

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa