Press release
Fall Detection System Market Revenue to Cross US$ 607.9 million by 2029 at a CAGR of 4.4%
Fall Detection System Market 2022
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. Increasing penetration of smartphones and technological advancements are the key factors driving the growth of the market.
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The report also states that the increasing emphasis on developing highly sensitive and cost-effective fall detection systems is the major factor contributing to the growth of the market for fall detection systems. Moreover, the rising percentage of falls among the elderly, the rising incidence of chronic diseases and the increasing adoption of fall detection systems are all expected to drive the growth of the fall detection system market throughout the forecast period. Apart from this, the demand for automated fall detection systems is likely to skyrocket in the years to come due to the integration of AI and ML technologies, which is likely to boost the market growth.
Key Companies-
• Koninklijke Philips N.V.
• Tunstall
• ADT Inc.
• Medical Guardian LLC.
• BioTelemetry, Inc.
• Bay Alarm Company
• MobileHelp
• MariCare Oy
The Asia Pacific to Harness the Maximum Market Share
Geographically, the Asia-Pacific is projected to have the largest share of the market for fall detection systems, due to the region's significant expansion of the healthcare industry. The high population, as well as the government's increased expenditure on healthcare particularly in Asian nations provide an opportunity for fall detection system manufacturers to invest in these regions. Furthermore, because of the high-income levels and public awareness, the market for Fall Detection Systems in North America and Europe is also expected to grow significantly throughout the forecast period
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Fall Detection Systems Market Categorization
Fall Detection Systems Market by By Product Type
• Automatic Fall Detection Systems
• Manual Fall Detection Systems
Fall Detection Systems Market By Technology
• GPS-based
• Mobile Phone-based
• Sensor-based
Fall Detection Systems Market By Sensing Method
• Wearable
o Watches
o Necklaces
o Clip-to-Garments
• Non-Wearable
o Floor Sensors
o Wall Sensors
Fall Detection Systems Market By End User
• Home Care Settings
• Assisted Living Facilities
Fall Detection Systems Market by Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa (MEA)
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Key Questions Answered in This Report -
• How much is the Fall Detection Systems Market worth?
• At what rate did the Fall Detection Systems Market grow between 2014 and 2021?
• What are the restraints in the Fall Detection Systems Market?
• What are the key factors driving the market?
• Who are the top players in the market?
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