Smart Personal Safety and Security Device Market Size, Share, Growth Report 2032

Industry Prospective:

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. The report analyzes the global smart personal safety and security device market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the smart personal safety and security device industry.

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Smart Personal Safety and Security Device Market: Overview

The global market is growing rapidly and includes a wide variety of electronic and networking devices that are used for personal security and safety. This equipment helps to keep the owner safe from external harmful or unwanted incidents and situations. The devices are capable of providing real-time information and make use of advanced technologies like Bluetooth, Wi-Fi, or Global Positioning System (GPS). They collect the wearer’s information including data about the person’s movements, location, and other activities. Some most commonly used devices include wearable devices, personal alarms, home security systems, and GPS trackers. Wearable devices are worn by individuals on the body and help track and record critical information like body vitals. It can send alerts to concerned authorities in case any deviance from normal is detected by the system.

Key Insights 

• As per the analysis shared by our research analyst, the global smart personal safety and security device market is estimated to grow annually at a CAGR of around 7.81% over the forecast period (2023-2030)
• In terms of revenue, the global smart personal safety and security device testing market size was valued at around USD 4.1 billion in 2022 and is projected to reach USD 7.45 billion, by 2030.
• The market is projected to grow at a significant rate due to the increasing importance of personal safety
• Based on industry segmentation, healthcare was predicted to show maximum market share in the year 2022
• Based on technology segmentation, network technology was the leading segment in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Smart Personal Safety and Security Device Market: Growth Drivers

Growing importance of personal safety to propel market demand

The global smart personal safety and security device market is projected to grow owing to the increasing awareness amongst the population about the benefits of using such devices in case of personal emergency. The world is witnessing an alarming rate at which crimes are on the rise. As per The Zebra, the number of burglaries every year around the world is close to 2.5 million cases. These crimes range from petty thefts to more gruesome or unforgivable incidents. It has resulted in more people taking proactive steps to ensure that they are well-equipped to tackle such situations by themselves.

Personal safety has gained extreme importance in current times resulting in higher adoption of devices that make them capable of handling unfortunate situations. For instance, as of 2022, more than 61% of homes in the US installed some type of security system to protect loved ones from attack or intruders. Furthermore, governments are expected to play a crucial role in helping the global industry grow at a high CAGR given the growing measures undertaken by them to promote personal security.

Smart Personal Safety and Security Device Market: Restraints

Limited battery capacity to restrict the market growth

A large section of smart personal security devices run on batteries. This is mostly applicable to electronic devices. All of the battery-powered equipment have limited battery capacity which means that they will run out of power after some hours of use. Users may find it distracting to continuously charge the device since it is useless in case there is no power to help it perform. Furthermore, such devices may not be accepted by consumers living in areas where there is a lack of continuous power supply to charge the devices which acts as a restraining factor.

Smart Personal Safety and Security Device Market: Opportunities

Strategic partnerships to promote more opportunities

The smart personal safety and security device is projected to benefit from the ongoing strategic partnerships undertaken by the industry players. This essentially includes the collaboration between product and service providers with the healthcare community. There is a high scope of growth if both parties work together toward building a system that benefits all the associated stakeholders including the patients. In addition to this, the increasing number of government collaborations to promote personal security is another excellent opportunity for expansion.  

Smart Personal Safety and Security Device Market: Challenges

Traditional security measures to challenge market growth

A large segment of the population prefers the old ways of managing security concerns. Closed-circuit television (CCTV) cameras, security alarms, and other devices have registered higher sales than personal safety devices since they already have an established consumer database and trust. The main challenge for the smart personal safety and security device industry players would be to convince consumers that these systems can offer better output.

Smart Personal Safety and Security Device Market: Segmentation

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.

• The healthcare segment is projected to register the highest CAGR as it dominated more than 44.9% of the global market share in 2022
• The growth in the previous years was driven due to the increased demand amongst consumers for personal safety devices amidst the panic caused by Covid-19 and its after-effects
• Furthermore, consumers are better aware of the different options available in the market across price ranges which means that the consumer reach is higher than ever
• The healthcare community has invested heavily in developing safety gear for the personnel in the sector

Based on product, the global smart personal safety and security device market segments are head wear, neck wear, wrist wear, finger wear, and others.

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

• Network technology and sensor segments are projected to register high CAGR during the forecast period
• Most smart devices make use of cellular networks to send out important alarms or notifications. This is mainly used in areas that may lack the necessary Wi-Fi or Bluetooth connectivity
• Furthermore, the positioning devices assist in determining the exact location of the wearer, and friends or family can track the person in case of emergency
• In 2019, Fitbit sold almost 16 million devices worldwide

Based on type, the global market is segmented into security device and safety device.

Recent Developments:

• In September 2022, Fitbit, an American fitness and consumer electronics company that was recently acquired by Google, announced the launch of a new generation of fitness trackers in India. The new products include Fitbit Sense 2, Fitbit Versa 4, and Fitbit Inspire 3. They come with enhanced features and new designs
• In August 2021, Fitbit announced the launch of a premium fitness device called Fitbit Luxe and Fitbit Luxe special edition. The products became commercially available in the Indian market and come with silver band
• In December 2020, ADT and invisaWear, a smart wearable company, announced a collaboration to develop better and enhanced portable personal safety devices. The new products will be integrated with the invisaWear breakthrough line of already existing products

Smart Personal Safety and Security Device Market Report Scope:

Smart Personal Safety and Security Device Market: Regional Analysis

North America to lead with the highest market share

The global smart personal safety and security device market is anticipated to witness the highest growth in North America. The population of countries like the US and Canada has a high awareness rate about the product availability and its applications which is a major reason for the excellent product adoption rate. Furthermore, with the growing importance of health, resulting from factors like government initiatives, mass awareness drives, the proactive healthcare community, and the availability of information, the sales volume of security and safety devices will continue to rise during the forecast period.

The US is home to some of the most dominating brands providing breakthrough technology and systems for personal use. Strengthened by high disposable income, the regional market has excellent expansion potential. As per estimates, almost 64% of American households have some form of smart device installed at the residential place.

Smart Personal Safety and Security Device Market: Competitive Analysis

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