Smart Personal Safety and Security Device Market Forecast by Fitbit, UnaliWear, Honeywell International, General Electric, DAQRI, Force Impact Technologies, Ericsson, iBeat, Revolar, Safelet

Global Smart Personal Safety and Security Device Market, by type (smart personal safety and security) Component (Hardware, Software), Technology (Sensor, Network, Navigation), End User (BFSI, Healthcare, Telecommunication, Defence, Consumer Electronics)

The global smart personal safety and security device market is anticipated to grow at 13% CAGR through the forecast period.

Market Synopsis
Personal safety devices are used to track the user location by sending alerts for emergency assistance in the form of text or alarm. These devices are connected to the internet wirelessly. Personal Safety Devices are user friendly in nature and are available in the form of smart watch, key rings, rings, bracelets, and others.

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Increasing security concerns for women and children act as a major driving factor for this market and the growing inclination of smart wearable devices with advanced features is expected to fuel the growth of the personal safety devices globally. However, high price associated with these devices and lack of awareness across the globe is acting as a barrier for this market during the forecasted period.

Segmentation
The global smart personal safety and security device market is segmented in to component, technology, end-user and region. The component segment is further classified in to hardware and software. On the basis of hardware connected wearable or wearable with embedded cellular connectivity, creating a promising market. Through these devices, an SOS alert can be sent in a timely and discreet manner to deter crimes or minimize personal injuries. The technical developments in this field led to rise of applications which can be run on mobile phones. such as Life360, a mobile app that allows family members to track other members’ whereabouts and alert each other when loved ones leave or arrive at a specified location.

The global smart personal safety and security market caters wide are of end-users like BFSI, healthcare, telecommunications, consumer electronics and many more. The healthcare is one area where technical advancements were rapidly being employed. Huawei has partnered with mCareWatch an Australian software company that specialises in healthcare solutions, to leverage Australia’s first 4G Sim-enabled wearable, the Huawei Watch 2, and produce a healthcare solution that offers safety and security to the elderly and disabled, and peace of mind to their carers. MCareWatch is able to extrapolate information to support safety, health and fitness. That includes thorough detailed bio-measures that can aid with the management of conditions such as diabetes and heart disease. Through the additional connectivity of the 4G connected Huawei Watch 2, mCareWatch can offer next level functionality including – GPS tracking, geo-fencing, one-touch SOS alerts, on-demand auto-calling/check in prompts, customised medication reminders and non-movement alerts. The Huawei Watch 2 can also measure blood pressure and weight by connecting to Bluetooth peripheral devices.

North-America is dominating the global high Personal Safety and Security Device market with the largest market share due to growing awareness concerning personal safety and security among users. Europe is expected to be the second largest market for Smart Personal Safety and Security Device followed by Asia-Pacific region during forecast period.

Some of the major players in global Smart Personal Safety and Security Device Market include DAQRI LLC (U.S), Force Impact Technologies (U.S), Ericsson (Sweden), iBeat (U.S), Fitbit (U.S), UnaliWear Inc. (U.S), Honeywell International, Inc. (U.S), General Electric (U.S), Revolar Inc. (U.S.), and Safelet B.V. (U.S.) among others.

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The market for global smart personal safety and security device market is segmented in to type, component, technology, end-user and region. On basis of type the segment is divided in to smart personal safety device and smart personal security device. The component is further divided into hardware and software. The technology is further classified in to structured, semi-structured and unstructured. Global smart personal and security device caters wide area of end-users like BFSI, healthcare, telecommunication and consumer electronics.

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