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Personal Emergency Response System (PERS) Market by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Dec 2021
  • Pages: 120
  • SKU: IRTNTR43996
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The personal emergency response system (PERS) market share is expected to increase by USD 2.25 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.98%.

This personal emergency response system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers personal emergency response system market segmentation by type (mobile, landline, and standalone) and geography (North America, Europe, Asia, and ROW). The personal emergency response system market report also offers information on several market vendors, including ADT Inc., AlertOne Services LLC, Bay Alarm Medical, Best Buy Co. Inc., Careline365, Koninklijke Philips NV, MobileHelp LLC, ModivCare Inc., Nice SpA, and Tunstall Healthcare Group Ltd. among others.

What will the Personal Emergency Response System Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Personal Emergency Response System Market Size for the Forecast Period and Other Important Statistics

 

Personal Emergency Response System Market: Key Drivers and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growing geriatric population is notably driving the PERS market growth, although factors such as lack of awareness may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the personal emergency response system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Personal Emergency Response System Market Driver

The elderly require care in their homes, irrespective of the care they receive in hospitals. However, staying at home carries potential risks of accidents such as falls, sudden trauma, and strokes. Technological advances are enabling consumers and caretakers to manage risks at home by implementing sophisticated devices, including personal emergency response systems and other devices such as medication care management, home safety and activity sensors, and location-based solutions. Traveling large distances is a primary concern for older individuals because of age-related health issues. In this case, the value-added advantage of connected health solutions such as personal emergency response systems for elderly individuals enables them to send an alarm during times of uncertainty. This enables hospital attendants to facilitate remote patient monitoring or assist them at home if required. This reduces the cost of traveling to hospitals while ensuring the administration of proper care to patients. Therefore, with the growth in the geriatric population, the demand for personal emergency response systems will increase, which, in turn, will drive the personal emergency response systems market during the forecast period. 

Key Personal Emergency Response System Market Challenge

Many healthcare organizations still use traditional methods such as ordinary electric bells or alarms as a line of communication between the patient and the nurse. This is mainly due to the limited budget for these organizations. In these cases, the call alert of the alarm does not reflect the significance of the patient's call (i.e., whether it is an emergency or an ordinary call). In many developing countries, due to low affordability and availability of personal emergency response systems as well as a lack of awareness about its use and maintenance, the adoption rate tends to be low. In addition, some countries in Asia and Africa have inadequate healthcare infrastructure. Thus, the lack of healthcare infrastructure, coupled with the lack of awareness regarding personal emergency response systems in these countries, is hampering the sales of personal emergency response systems, which is restricting the market growth during the forecast period.

This personal emergency response system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Personal Emergency Response System Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ADT Inc.
  • AlertOne Services LLC
  • Bay Alarm Medical
  • Best Buy Co. Inc.
  • Careline365
  • Koninklijke Philips NV
  • MobileHelp LLC
  • ModivCare Inc.
  • Nice SpA
  • Tunstall Healthcare Group Ltd.

 

This statistical study of the personal emergency response system market encompasses successful business strategies deployed by the key vendors. The PERS market is fragmented and the vendors are deploying growth strategies such as extending their product portfolios to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The personal emergency response system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Personal Emergency Response System Market?

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35% of the market’s growth will originate from North America during the forecast period. The US is a key market for personal emergency response systems in North America. Market growth in this region will be faster than the growth of the market in Europe.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Personal Emergency Response System Market?

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The personal emergency response system market share growth by the mobile segment will be significant during the forecast period. Mobile personal emergency response systems make healthcare delivery more efficient, leading to faster response times. The integration of personal emergency response systems with smartphones has helped caregivers in tracking mobile devices and alerting in case the mobile devices are not worn by users. With the reduction in the cost of mobile personal emergency response systems, most end-users are switching from traditional landline devices to mobile devices. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the PERS market size and actionable market insights on post COVID-19 impact on each segment.

 

Personal Emergency Response System Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.98%

Market growth 2021-2025

$ 2.25 billion

Market structure

Fragmented

YoY growth (%)

5.26

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 35%

Key consumer countries

US, UK, Germany, China, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ADT Inc., AlertOne Services LLC, Bay Alarm Medical, Best Buy Co. Inc., Careline365, Koninklijke Philips NV, MobileHelp LLC, ModivCare Inc., Nice SpA, and Tunstall Healthcare Group Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Personal Emergency Response System Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive personal emergency response system market growth during the next five years
  • Precise estimation of the personal emergency response system market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the PERS industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of PERS market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • Mobile - Market size and forecast 2020-2025
  • Landline - Market size and forecast 2020-2025
  • Standalone - Market size and forecast 2020-2025
  • Market opportunity by Type

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • Asia - Market size and forecast 2020-2025
  • ROW - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • ADT Inc.
  • AlertOne Services LLC
  • Bay Alarm Medical
  • Best Buy Co. Inc.
  • Careline365
  • Koninklijke Philips NV
  • MobileHelp LLC
  • ModivCare Inc.
  • Nice SpA
  • Tunstall Healthcare Group Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The personal emergency response system (pers) market market growth will increase by $$ 2.25 bn during 2022-2025.
The personal emergency response system (pers) market market is expected to grow at a CAGR of 5.98% during 2022-2025.
Technavio has segmented the personal emergency response system (pers) market market by type (mobile, landline, and standalone) ,geography (North America, Europe, Asia, and ROW) , and geographic (North America, Europe, Asia, and ROW).
ADT Inc., AlertOne Services LLC, Bay Alarm Medical, Best Buy Co. Inc., Careline365, Koninklijke Philips NV, MobileHelp LLC, ModivCare Inc., Nice SpA, Tunstall Healthcare Group Ltd. are a few of the key vendors in the personal emergency response system (pers) market market.
North America will register the highest growth rate of 35% among the other regions. Therefore, the personal emergency response system (pers) market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the personal emergency response system (pers) market market growth are:
  • Growing geriatric population
  • Development of personal emergency response system apps
The personal emergency response system (pers) market market vendors should focus on grabbing business opportunities from the mobile segment as it accounted for the largest market share in the base year.
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