Personal Emergency Response Systems Market Size, Share and Report 2023-2030

Market Size
The Global Personal Emergency Response Systems Market reached US$ YY billion in 2022 and is expected to reach US$ YY billion by 2030, growing with a CAGR of YY% during the forecast period 2023-2030.

A Personal Emergency Response System (PERS) allows patients to retain their autonomy while alleviating the stress on family members who are faced with the decision of employing in-home help or relocating a loved one. These tech-based solutions, designed to accommodate various lifestyles, provide seniors and individuals with disabilities increased independence, security, and safety. They also ensure the preservation of their connections to caregivers, family members, and their support networks.

Personal emergency response devices, equipped with push-button technology and GPS tracking managed by ADT, serve as vital safety measures. They effectively manage falls and other accidents, enabling patients to feel secure in their homes when alone.

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Market Dynamics

The high cost of Personal Emergency Response Systems (PERS) can significantly impact their acceptance and usage. The price of the equipment and services associated with PERS can vary greatly depending on the type, functionality, and manufacturer of the device. While there may be less expensive systems available that include a wearable pendant and a base unit, there are also more costly systems that offer features like fall detection and GPS tracking.

In addition to the initial cost of the equipment, users typically pay a monthly monitoring fee to the service provider. This fee covers the cost of operating a 24/7 monitoring center that responds to emergencies and dispatches help when needed. The monthly cost can vary depending on the provider and the quality of service.

Limited awareness of technology,
particularly among older generations, can pose a challenge as they may not have had the same level of exposure to digital technology as younger generations. This could make it difficult for them to adapt to new technology or understand its capabilities.

This lack of technological knowledge can exacerbate the digital divide, where certain individuals or communities have less access to and proficiency with technology compared to others. This gap can impact access to educational resources, job opportunities, and basic services.

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Market Segmentation
By Product
1. Standalone PERS
2. Transmitter
3. R-cube monitoring systems
4. Standalone voice dialer
5. Wandering system
6. Medical alarm system
7. Landline PERS
8. Mobile PERS
9. Wireless
10. GPS
11. Cellular

By End-user
1. Nursing home
2. Home-based user

Market Key Players
Major players are VRI, Honeywell International, Tunstall, Robert Bosch GmbH, GreatCall, Koninklijke Philips NV, ADT, Connect America, ModivCare and LogicMark among others.

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