The demand for personal emergency response systems (PERS) is skyrocketing, with global sales projected to reach US$ 6.57 billion in 2024 and continue to grow at a healthy rate of 8.6% per year until 2034, according to a recent study by Fact.MR. This surge in popularity can be attributed to several key factors, including technological advancements and an increasingly aging population.
Technological advancements, such as the integration of sensors and GPS, are playing a pivotal role in driving the market. Features like fall detection sensors, which instantly alert emergency personnel in case of an accident, and two-way communication capabilities that facilitate seamless interaction with emergency responders ensure prompt assistance. Furthermore, the integration of PERS devices with smart home technology enhances accessibility and convenience, making them even more appealing to a wider range of users, including individuals with long-term medical concerns and limitations.
Government initiatives promoting independent living for the elderly and favorable payment schemes in Japan are further boosting the adoption of PERS devices. These devices offer peace of mind by providing users with instant access to assistance at the push of a button, contributing to their growing popularity.
The global personal emergency response system market is projected to reach a valuation of US$ 15.01 billion by the end of 2034. North America is expected to dominate the market, accounting for 50% of the global market share in 2024, while the East Asia market is estimated to reach US$ 2.43 billion by the end of 2034. China, in particular, is expected to account for 3% of the market share in the East Asia region in 2024. When considering end users, home-based users are expected to generate revenue worth US$ 42 billion by the end of 2034, with demand for PERS devices in the United States projected to increase at a CAGR of 7.2% through 2034.
The growth of the PERS market is being driven by key players such as Philips Electronics N.V., Tunstall, Cisco Systems, LifeWatch USA, Aerotel Medical System Ltd., GreatCall, MobileHelp, Honeywell International, AlertOne Services LLC, ADT Inc., Robert Bosch GmbH, and Nortek Security and Control. These companies are constantly innovating and introducing new features and functionalities to enhance the user experience and meet the evolving needs of the market.
One segment within the PERS market that is gaining particular traction is landline devices. These devices are considered dependable, especially among older individuals, as they ensure reliable communication during power outages, providing essential access to emergency assistance. Landline PERS devices are also generally preferred by older individuals who may be unfamiliar or uncomfortable with newer technologies. Their affordability compared to cellular-based alternatives makes them accessible to a larger user base.
The emergence of new and innovative PERS devices, such as the personal emergency response speaker (PERS) unveiled by HandsFree Health in 2023, smartwatches, and automated virtual call systems like SmartCare’s SmartCall, is further enhancing the market landscape. These advancements are making PERS devices more user-friendly and accessible, further driving market growth.
The future of the PERS market is bright, with continued technological advancements and a growing demand for solutions that support independent living and provide peace of mind for individuals of all ages. The market is expected to continue to expand at a significant pace in the coming years, driven by increasing adoption rates and innovation within the industry.
