Smart Personal Safety and Security Device Market Outlook 2022 - 2032
The smart personal safety and security device market revenue totalled US$ 9.1 Bn in 2021. The smart personal safety and security device market is estimated to reach US$ 33.5 Bn by 2032, growing at a CAGR of 12.7% for 2022 – 2032.
Attributes
Details
Estimated year (2022) market Value
US$ 10.1 Billion
Projected year (2032) Value
US$ 33.5 Billion
CAGR% (2022 to 2032)
12.7%
Top 5 Vendor market Share
Around 30%
The smart personal safety and security device are physical objects integrated with the Internet for remote monitoring. user can wear it or carry it. Like as anklets, necklaces, or watches. Some wearable devices can track steps taken during the whole day, heart rate monitoring at different times of the day and night while sleeping, body temperature when sick, and more. Smart personal safety and security devices comprises of 5% of physical security market
Newest smart personal safety and security device also integrate with the GPS tracking technology to provide the geospatial location information about locations used on maps in relation to other people's locations. smart personal safety and security device support wireless operation and can connect to the Internet using third-party tools. These devices are also designed to immediately send an emergency text to a close friend or family member with the push of a button.
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2017-2021 Smart Personal Safety and Security Device Market Demand Outlook Compared to 2022-2032 Forecast
The smart personal safety and security device market demand is estimated to grow at a 12.7% CAGR between 2022 and 2032 in comparison with 10.6% CAGR registered during the historic period (2017-2021).
Rising crime rates, especially against women and children, and advances in information communication technology are expected to fuel the growth of smart personal safety and security device market. Even after many technological advances, the safety of women and children has always been an issue. With the advent of the Internet of Things (IoT), many intelligent solutions are being developed on a global scale to improve user security.
The Growing Trend Toward Advanced Smart Wearables or Connected Wearable Devices are Fuelling the Growth of the Smart Personal Safety and Security Device Market.
The trend towards advanced smart wearables or connected wearable devices can also be considered a major driver of the growth of the smart personal safety and security device market. This market growth is attributed to various factors such as increasing consumer shift towards smart wearables such as smart watches, smart bands and smart bracelets, increasing penetration of smart phone related applications.
Government initiatives to improve women's safety through free distribution of portable panic buttons and rising crime incidents such as roadside harassment and abuse drive the smart personal safety and security device market.
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Regional Analysis
The North America to hold highest market share of 28.6% for the smart personal safety and security device market and South Asia & Pacific is estimated to grow by highest CAGR of 20.1% during the forecast period of 2022-2032.
North America is a major contributor, with the participation of smart personal safety and security device manufacturers, increasing user awareness of personal safety, increasing awareness of the usage of these smart security devices, and favourable regulatory policies leading to high market growth.
South Asia and Pacific region is estimated to showcase high growth because of the high population this region has and the increasing market for consumer electronics.
Country-wise Insights
Technological Advancements and Plans to Grow Smart Personal Safety and Security Devices in USA can Help the Personal Safety and Security Devices Market Grow Rapidly.
USA is predicted to remain the most attractive market during the forecast period. According to the study, the USA smart personal safety and security device market was estimated to account for the highest market share of 17.8% in 2021.
The US market for smart personal safety and security devices is driven by smart devices with advanced features and increasing trend towards new product development in the wrist and neckwear segment. In addition, advances in communication technology and rising security concerns of end-users are expected to drive the market for smart personal safety and security devices further.
Customer base in Germany is Supporting the Growth For Smart Personal Safety And Security Device Market In The World.
The market for smart personal safety and security devices in Germany is estimated to grow at highest CAGR of 10.4% during the forecast period.
The German market for smart personal security and safety devices is driven by increasing demand and consumption of smart security and safety devices by tech-savvy citizens. After Germany, China and Japan became second and third largest markets in the smart personal safety and security devices market.
Adoption of Smart Personal Safety and Security Devices Are Increasing in China.
China smart personal safety and security device market accounted for the market share of 12.5% in 2021.
China will witness remarkable growth in the smart personal safety and security devices market during the forecast period. Rising crime rates, high defence spending by developing country China, the need to control such criminal incidents, government initiatives, and increasing adoption of IoT have all contributed to the country's smart personal safety and security device market growth.
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Category-wise Insights
How Smart Personal Security is Supporting the Growth of the Smart Personal Safety and Security Device Market?
Smart personal security estimated to hold the largest market share in 2021 of 56.5% and smart personal safety is estimated to be the fastest growing segment by type for smart personal safety and security device market with a CAGR of 14.5% for the forecast period.
Factors such as high R&D activity related to smart helmets, and a significant consumer shift to smart personal safety and technologically advanced products are attributed to the market growth for smart Personal Safety and Security Devices. Integrations such as voice recognition or voice-activated technologies, biometrics, and increasing professional adoption of personal security devices such as pepper spray cameras are also likely to drive smart personal safety and security device market growth.
Why Demand for the Smart Personal Safety and Security Device Among Consumers is Fuelling the Growth of Smart Personal Safety and Security Device Market?
Consumer in end user segment to hold largest market share of smart personal safety and security device market during forecast period which is accounted for 24.5% in 2021. While BFSI in end user segment to account the highest CAGR of 20.1% in 2021.
smart personal safety and security device in consumer electronics applications are used to prevent unauthorized access to data, personal information or intellectual property. They are also used to ensure secure transactions such as e-commerce payments. The smart personal safety and security device market is experiencing exponential growth due to the increase in cybercrime and the need for security measures against it. Additionally, the increasing number of smart devices used by consumers has created a need for organizations (such as banks) to provide protection and software solutions that help protect their valuable assets.
Competitive Landscape
Creating a competitive landscape among various valuable players present in different market locations across the globe is very important to gain a detailed and deep idea about the insights of the smart personal safety and security device market. All market players compete with each other globally in the international market by implementing different types of strategies such as product launches and upgrades, mergers and acquisitions, partnerships, etc. Major players in this market are: Force Impact Technologies Inc., Honeywell International Inc., Ericsson, Daqri, LLC, etc. For instance,
In August 2021, Fitbit has announced the launch of the Fitbit Luxe and Fitbit Luxe Special Edition smart trackers, designed like jewels with advanced sensor technology. This tracker offers monitoring of respiratory rate, heart rate variability, resting heart rate, and more.
In May 2020, Climax Technologies has launched the Bluetooth emergency fob BR1-WRTSB to introduce a small wireless panic button. With extensive support for smart phone applications, the device is designed to allow users to call for emergency help inside or outside the home at the touch of the button.
Scope Of Report
Attribute
Details
market Value in 2022
US$ 10.1 Billion
market CAGR 2022 to 2032
12.7%
Share of top 5 players
Around 30%
Forecast Period
2022 to 2032
Historical Data Available for
2017 to 2021
market Analysis
USD Million for Value
Key Region Covered
North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa
Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Smart personal safety and security device market by Category
By Type:
Smart Personal Security
Wearable Devices
Bracelet
Pendant
Ring
Others
Bulletproof Bags
Personal Alarm
Panic Button
Fall Detection Device
Others
Smart Personal Safety
Smart Helmet
Smart Mouth Guard
Smart Knee Guard
Others
By End User:
Consumers
Defence
Factories
BFSI
Healthcare
Telecommunications
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa
Frequently Asked Questions
How much is the smart personal safety and security device market worth?
The smart personal safety and security device market was valued at US$ 9.1 Bn in 2021 and is estimated to grow at CAGR of 12.7% during the forecast period, which will reach the market value of US$ 33.5 Bn by 2032.
Which country is expected to display highest growth rate in smart personal safety and security device market demand during the forecast period?
Germany market is expected to show a rapid growth during the forecast period, where it will represent a CAGR of around 10.4%.
What is the India smart personal safety and security device market Share outlook in 2021?
The smart personal safety and security device market share in India was around 8.0% in 2021.
At what rate did the demand for smart personal safety and security device market grow during 2022-2032?
The smart personal safety and security device market growth between 2022 and 2032 is around 12.7%.
What are the top 3 countries driving demand?
The top 3 countries driving demand for smart personal safety and security devices include the USA, Germany and China
Who are some of the leading companies offering smart personal safety and security device?
Some of the leading companies in this landscape are Force Impact Technologies Inc., Honeywell International Inc., Ericsson, Daqri, LLC, General Electric Company, Unaliwear, Inc.
What will be the last 5-year smart personal safety and security device market CAGR?
The market in last 5 years (2017 – 2021) has grown by a CAGR of 10.6%.
Which is the leading type segment in smart personal safety and security device market?
Smart personal security segment is expected to dominate the market in the year 2021, generating a maximum revenue, by the end of 2032.
What is the China smart personal safety and security device market Share outlook in 2021?
The smart personal safety and security device market share in China was around 12.5% in 2021.
Which is the leading End User segment in smart personal safety and security device market?
Consumers segment is expected to dominate the market in the year 2021, generating a maximum revenue, by the end of 2032.
What was the market share of South Asia and Pacific region for smart personal safety and security device market in the year 2021?
The market share of South Asia and Pacific for the year 2021 for the smart personal safety and security device was 14.2%.
