Smart Personal Safety and Security Device Market

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.

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.

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.

Sudip Saha

Principal Consultant

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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.

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

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