Global Smart Personal Safety and Security Device Market is Predicted to Grow Around USD 7.45 Billion By 2030

Global Smart Personal Safety and Security Device Market Represent to Grow at CAGR of 7.81% by 2030

The global smart personal safety and security device market size was worth around USD 4.1 Billion in 2022 and is predicted to grow to around USD 7.45 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.81% between 2023 and 2030.

Smart personal safety and security devices are equipment meant for personal use by individuals that helps them stay safe from any incoming physical harm. These devices can be used to send alerts in case of an intruder attack or for other issues involving internal health in case of changes in body vitals. Personal alarms are portable devices that can send loud alerts when switched on or activated. It can prove to be extremely helpful in case a person is being attacked or in any other life-threatening emergency.

Home security systems include alarms, sensors, and cameras that protect the home of the owners from any external attack. Global positioning system (GPS) trackers send information, in real-time, about the exact physical location of the wearer. This can be very helpful to people who are responsible for taking care of another person who requires another person for physical safety, like senior citizens, people with health issues, or children. The smart personal safety and security device industry is expected to grow during the forecast period due to factors that are leading to increased awareness about the importance of safety.

The global smart personal safety and security device market is anticipated to grow due to the increasing investments in research & development along with advancements in related technology. Over years, these devices have become relatively affordable with products being available in the commercial market across the price range. Furthermore, current devices are user-friendly and are meant for people from different age groups along with a rise in the overall accessibility of the products.

E-commerce has played a vital role in improving the accessibility index of smart devices. Growth in disposable income across the globe with the rise in dual-income families could be a major expansion supporting factor. Developed economies already have a dedicated consumer database whereas people from developing nations like India are willing to spend extra money on ensuring physical safety and security if the products show worthiness. The rise in the number of senior citizens of the geriatric population could assist in higher sales of the devices since they require extra assistance in managing daily activities. Factors like rapid urbanization and government support are also critical factors.

However, there could be certain roadblocks in terms of smart personal safety and security device industry growth. These issues are related to data or privacy concerns since such devices store the personal information of the wearer including medical history. With the increase in cybercrime and multiple reported incidents of data breaches, consumers are doubting the use of unnecessary smart gadgets unless absolutely mandatory. This especially is observed in case the information has to be shared with a third party. Lack of awareness and standardization are other restraints that could impede global market growth.

Strategic partnerships could promote more opportunities whereas traditional security measures may challenge market growth.

The global smart personal safety and security device market is segmented based on industry, product, technology, type, and region

Based on industry, the global market divisions are healthcare, BFSI, defense, telecommunication, and consumer electronics.

Based on the product, the global market segments are head wear, neck wear, wrist wear, finger wear, and others.

• The smart personal safety and security device industry registered the highest growth in the wrist wear segment and is projected to continue its dominance during the next years
• Most personal devices are portable and have a design that allows them to be worn on the wrist like a watch
• Some examples are Fitbit and Apple Watch which have become extremely popular amongst fitness enthusiasts along with senior citizens since it helps them keep track of body vitals
• Apple Watch Series 4 helped the company grow its segment review by 22% in 2018 after the launch

Based on technology, the global industry is segmented into position, network technology, speed recognition, and sensor.

Based on type, the smart personal safety and security device industry is segmented into security devices and safety devices.

• The year 2022 registered the highest CAGR in the safety device segment and may grow at a CAGR of 10.31% by 2030
• The major growth propellers are factors like constant innovation, product launches, research & development, and better production adoption
• The growing integration of advanced technology like artificial intelligence, speech recognition, and voice-related changes could help the segment during its growth phase

North America is anticipated to register the highest growth in the global smart personal safety and security device market mainly propelled by the presence of key market players along with an already existing massive consumer database. The rate of innovation and product launch is a critical factor for the regional response. Growth in Asia-Pacific is projected to be the result of a growing population with increasing disposable income and a rise in importance to personal security and safety. The growing crime rate has compelled more people to look for supportive assistance which they find with the use of advanced security devices. The European market is a lucrative market for home security equipment.

This review is based on a report by Zion Market Research, titled “Smart Personal Safety and Security Device Market By Industry (Healthcare, BFSI, Defense, Telecommunication, and Consumer Electronics), By Product (Head Wear, Neck Wear, Wrist Wear, Finger Wear, and Others), By Technology (Positioning, Network Technology, Speech Recognition, and Sensor), By Type (Security Device and Safety Device), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030.”- Report at https://www.zionmarketresearch.com/report/smart-personal-safety-security-device-market

Recent Developments:

• In November 2022, Teledyne FLIR announced the launch of a new range of high-functioning cameras called FLIR A700f and A500. The cameras can detect high temperatures and are coupled with alarm and on-camera analytics features
• In June 2022, Grestok entered the Indian market by launching the company’s smart security systems. The products include a standalone door security system, window security alarm kit, and other associated products

The global smart personal safety and security device market is led by players like:

• 100Plus
• Telefonaktiebolaget LM Ericsson
• Huawei Technologies Co. Ltd.
• Honeywell International Inc.
• Mammut Sports Group AG
• Unaliwear Inc.
• DAQRI
• Revolar.
• JARVISH INC.
• Safelet
• General Electric
• Force Impact Technologies L.L.C
• KORE Wireless
• McDavid.

The global smart personal safety and security device market is segmented as follows:

By Industry

• Healthcare
• BFSI
• Defense
• Telecommunication
• Consumer Electronics

By Product

• Head Wear
• Neck Wear
• Wrist Wear
• Finger Wear
• Others

By Technology

• Positioning
• Network Technology
• Speech Recognition
• Sensor

By Type

• Security Device
• Safety Device

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

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