Personal Safety Alarms Market Valued at USD 10.31 Billion in 2023, Poised to Grow at 5% CAGR

► Global Personal safety alarms Market Poised for Significant Growth

The global personal safety alarms market, valued at approximately US$10.31 billion in 2023, is projected to reach US$14.52 billion by 2030, growing at a compound annual growth rate (CAGR) of 5% during the forecast period. This growth is driven by increasing safety concerns, technological advancements, and a rising number of criminal incidents worldwide

► Competitive Landscape

The personal safety alarms market is characterized by the presence of several key players focusing on research and development to introduce innovative products. Notable companies in the market include Honeywell International Inc., Daqri, BASU Corporation, Doberman Security Products Inc., JNE Security Ltd., Mace Security International Inc., Revolar, Safelet B.V., 100Plus, Force Impact Technologies Inc., Skyguard Limited, SABRE - Security Equipment Corporation, Unaliwear, Huawei Technologies Co. Ltd., General Electric Company, and Fitbit. These companies are investing in advanced technologies to cater to the evolving needs of consumers.

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► Regional Insights and Developments

North America: Growth and Opportunities

North America is expected to hold the largest market share during the forecast period. The adoption of 5G technology, with approximately 44% of the population projected to utilize it, is facilitating the integration of advanced features in personal safety alarms. This technological advancement, coupled with heightened awareness of personal security, is driving market growth in the region.

Asia Pacific: Trends and Consolidation

Asia Pacific is projected to experience the highest CAGR over the forecast period. Increasing awareness of personal safety issues, rising disposable incomes, urbanization, and growing crime rates in urban centers are key factors contributing to this growth. Countries such as China, Japan, India, South Korea, and Australia are leading this expansion. The market benefits from the presence of both local and international manufacturers offering a diverse range of products to meet varying consumer preferences.

Europe: Opportunities and Updation

Europe is poised to be the second-largest region in the personal safety alarms market. The adoption of 5G technology and its applications are facilitating market growth, particularly in North America, where approximately 44% of the population is expected to adopt 5G technology.

Middle East and Africa: Trends and Opportunities

The Middle East and Africa region is witnessing a gradual increase in the adoption of personal safety alarms. Factors such as urbanization, rising crime rates, and a growing emphasis on personal security are driving demand. However, the market is still in its nascent stages compared to other regions, presenting opportunities for growth and investment.

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► Recent Mergers and Acquisitions

In July 2024, China's Huizhou CHP Plant commenced commercial operations, powered by GE Vernova's hydrogen-ready H-Class equipment. This development signifies the increasing focus on integrating advanced technologies to enhance operational efficiency and safety.

► Personal safety alarms Market Segmentation

by Type

Keychain
Pendant and Wrist Band
Panic Button
Smart Personal Safety
Mobile Phone App
Stand-Alone Devices
Vehicle Safety Alarm

Mobile phone apps, standalone devices, car safety alarms, key chains, pendants and wristbands, panic buttons, and smart personal safety are the different segments of the personal safety alarm market. In this category, the most popular segment is the mobile phone app. Mobile phones offer a multitude of capabilities at the same time and have a large user base. Additionally, smart phones include emergency panic buttons that help apps keep users secure. Therefore, it is anticipated that the mobile phone app market will expand during the projection period.

by Application

Adults
Children

The market for personal safety is divided into two segments: adults and children. Over the course of the forecast period, the adult segment is anticipated to lead this market. Since the majority of security systems are used in commercial settings, the adult market is anticipated to rise during the projected period. Many people are moving to cities in order to improve their children's safety, and some of them are using personal security equipment to assist make their kids safer. The market for personal safety alarms is being driven by these factors.

by End-user

Personal
Commercial

There are two segments of the personal security market: personal and commercial. Over the course of the forecast period, the personal security alarm market is anticipated to be dominated by the commercial segment. The business sector accounts for the majority of income due to the widespread use of security devices in this industry. Due to an increase in criminal and odd situations, personal security has become a key issue, and the personal segment is also increasing rapidly.

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► Personal safety alarms Market Key Players

1. Honeywell International Inc.
2. Daqri
3. BASU Corporation
4. Doberman Security Products Inc.
5. JNE Security Ltd.
6. Mace Security International Inc.
7. Revolar
8. Safelet B.V.
9. 100Plus
10. Force Impact Technologies Inc.
11. Skyguard Limited, WEALARMS Ltd
12. SABRE - Security Equipment Corpor
13. Unaliwear
14. Huawei Technologies Co. Ltd.
15. General Electric Company
16. Fitbit

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