Press release
Fall Detection System Market is anticipated to top a Revenues of nearly USD$ 6.07 Bn by 2029 at a CAGR of 4.4%
Fall Detection System Market 2022
Fall Detection Systems Market Value to Exceed US$ 607.9 Million by 2029, Due Rising Rate of Falls in the Geriatric Population and Technological Advancements. In 2022, the Fall Detection Systems Market stands at USD 448.5 million, and it is expected to reach USD 607.9 million by 2029 at a CAGR of 4.4%. High cost of subscription and lack of awareness are the key restraints in the Fall Detection Systems Market.
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Persistence Market Research delivers key insights and presents a revised forecast of the global fall detection system market for an eight year period from 2017 to 2025 in a report titled "Fall Detection System Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)."
The revision in the market size and forecasts have been carried out taking into account the impact of various macroeconomic indicators and other industry based demand driving factors, as well as the recent developments of key market participants.
Company Profiles
Royal Philips NV
Tunstall
ADT LLC dba ADT Security Services
Medical Guardian LLC
LifeWatch USA
Bay Alarm Company
Mobile Help
MariCare Oy
DGH Technology, Inc.
Xuzhou Palmary Electronics Co., Ltd.
The global fall detection system market is projected to expand at a healthy CAGR of 4.5% in terms of value during the forecast period, revised from the previous CAGR of 4.9%, due to factors regarding which PMR offers useful insights in detail in this report.
The fall detection system market is estimated to account for US$ 365.2 Mn in 2017 and is expected to increase to US$ 518.5 Mn by 2025. North America and APAC are expected to collectively account for nearly 57.7% revenue share of the fall detection system market in 2017.
The market for fall detection systems, though shrouded by high cost of equipment, false positives of equipment and lack of awareness, presents lucrative opportunities for manufacturers and service providers alike, as these offer ease of accessibility, affordability, and effective administration to potential customers.
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The report analyzes the global fall detection system market in terms of market value (US$ Mn) by product type, sensing modalities, technology, end user and region. It also provides information regarding market dynamics, competitive landscape, current trends, market estimations and forecast.
North America is expected to dominate the global fall detection market throughout the forecast period, driven by increasing number of falls among the geriatric population, rising prevalence of chronic diseases, proliferation of smartphones and adoption of fall detection systems as supportive tools for independent living.
The market in U.S. for fall detection systems in North America holds the largest share. The fall detection system market in the U.S. is expected to increase from the current estimated value of US$ 136.9 Mn in 2017 to US$ 197.4 Mn by 2025, registering a CAGR of 4.7% over the forecast period.
Rising number of falls among old people, increasing demand for fall detection systems due to their superior effectiveness and increased focus on maintaining superior quality of life are factors expected to boost overall demand in the fall detection system market in the near future.
By product type, the fall detection system market is segmented into automatic fall detection systems and manual fall detection systems. The automatic fall detection systems segment is expected to dominate the global fall detection systems market by the end of 2025. The segment is projected to register an above average growth rate over the forecast period.
By sensing modalities, the fall detection system market is segmented into wearable and non-wearable segments. Among these, the wearable segment is expected to dominate the overall market by 2025, owing to ease of use and portability of these devices and rising number of falls among the aging population as well as increasing adoption of new technologies by the elderly to live independently and safely at home.
By technology, the fall detection system market is segmented into GPS systems, mobile phones, and sensors. Among these, the sensors segment is expected to gain high demand in comparison to all other segments over the forecast period.
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By end user, the fall detection system market is segmented into home care settings and senior assisted living facilities. Among these, the home care settings segment is expected to remain the most attractive and is estimated to account for 70.7% share of the global market by 2017 end, and further increase to 74.2% by 2025.
Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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