Personal Safety Tracking Devices Market by Technology, Distribution Channel, and Geography - Forecast and Analysis 2021-2025

The personal safety tracking devices market share is expected to increase by USD 397.73 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 9.47%.

This personal safety tracking devices 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 safety tracking devices market segmentation by technology (GPS and bluetooth), distribution channel (specialty stores, department stores, online retail, and others), and geography (North America, APAC, Europe, South America, and MEA). The personal safety tracking devices market report also offers information on several market vendors, including Amber Alert GPS Inc., Angel Sense Ltd., BrickHouse Security, Concox Information Technology Co. Ltd., Globalstar Inc., Le Vise Products LLC, Location Based Technologies Inc., Reliance Industries Ltd., Veriot LLC, and WTS Positioning Solutions AB among others.

What will the Personal Safety Tracking Devices Market Size be During the Forecast Period?

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Personal Safety Tracking Devices Market: Key Drivers, Trends, and Challenges

The increasing product launches are notably driving the personal safety tracking devices market growth, although factors such as the increasing availability of substitutes may impede the 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 safety tracking devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Personal Safety Tracking Devices Market Driver

The growth in urbanization has led to an increase in the number of dual-income households in urban areas. This has led to a rise in investment in technologically advanced devices, such as personal safety tracking devices, to ensure the safety of children. These devices help parents to track the location of their children. The rising popularity of personal safety tracking devices and the increasing number of dual-income households with kids will significantly influence the personal safety tracking devices market growth during the forecast period.

Personal Safety Tracking Devices Market Key Trend

The growing popularity of two-way voice communication-based personal safety tracking devices is another major factor supporting the personal safety tracking devices market share growth. Personal safety tracking devices enable end-users to get help no matter where they are. In the event of an emergency, end-users may not have sufficient time to use their smartphones to get help. Personal safety tracking devices with two-way voice communication are one such device that provides added benefits to end-users. Most of these devices have additional emergency panic buttons to help the wearer to raise an alert instantly in case of an emergency. The benefits offered by personal safety tracking devices with two-way communication can encourage more vendors to develop similar models, which will attract more end-users to buy them, thereby leading to the accelerated growth momentum of the market in focus during the forecast period.

Personal Safety Tracking Devices Market Key Challenge

The increasing availability of substitutes will be a major challenge for the personal safety tracking devices market. There are certain other smart devices, such as smartwatches and shoes, available in the market. Through these products, individuals can share their real-time locations with parents, friends, and others. These products also provide additional benefits to users, along with location tracking. For instance, a small GPS tracker inserted in smart shoes allows parents can to find their child's/children's location at any time. The availability of such multifunctional shoes can affect the sales of personal safety tracking devices during the forecast period.

This personal safety tracking devices 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.

Parent Market Analysis

Technavio categorizes the global personal safety tracking devices market as a part of the global personal products market within the global household and personal products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the personal safety tracking devices market during the forecast period.

Who are the Major Personal Safety Tracking Devices Market Vendors?

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

• Amber Alert GPS Inc.
• Angel Sense Ltd.
• BrickHouse Security
• Concox Information Technology Co. Ltd.
• Globalstar Inc.
• Le Vise Products LLC
• Location Based Technologies Inc.
• Reliance Industries Ltd.
• Veriot LLC
• WTS Positioning Solutions AB

This statistical study of the personal safety tracking devices market encompasses successful business strategies deployed by the key vendors. The personal safety tracking devices market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Globalstar Inc. - In February 2021, the company announced a strategic alliance with XCOM   Labs. These companies will jointly seek to commercialize XCOM's capacity-multiplying technology with Globalstar's Band n53 for dense 5G deployments in the US and in other countries 
• Reliance Industries Ltd. - In March 2021, Reliance Jio Infocomm Ltd. announces that it has successfully acquired the right to use spectrum in all 22 circles across India in the recently concluded spectrum auctions conducted by the Department of Telecommunications, Government of India
• Concox Information Technology Co. Ltd. - In March 2021, Jimi IoT announced the third device launched in Q1, the 4G LTE Vehicle Tracker JM-VL03 which provides risk prevention and control, real-time status monitoring, and dynamic car positioning.

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 safety tracking devices 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.

Personal Safety Tracking Devices Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the personal safety tracking devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Personal Safety Tracking Devices Market?

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36% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for personal safety tracking devices in APAC. Market growth in this region will be faster than the growth of the market in other regions.

In APAC, many government organizations are providing insurance schemes for people with disabilities to purchase equipment for their safety. Such government support helps patients suffering from dementia in Australia to buy personal safety tracking devices at a lower cost. This will facilitate the personal safety tracking devices market growth in APAC over the forecast period. 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.

COVID Impact and Recovery Analysis

The spread of COVID-19 hampered the steady growth of the regional market in 2020. The pandemic affected the workforce, raw material supply, sales of intermediate products, and trade and logistics, leading to demand-supply volatility and uncertain consumer demand in the regional personal safety tracking devices market in 2020. The markets in APAC, especially China and India, were severely affected as several production facilities were closed to curb the impact of COVID-19. However, with the introduction of several vaccines in 2021, the regional market is likely to witness a strong economic recovery during the forecast period.

What are the Revenue-generating Technology Segments in the Personal Safety Tracking Devices Market?

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The personal safety tracking devices market share growth by the GPS segment will be significant during the forecast period. One of the factors that are responsible for the growing popularity of GPS personal tracking devices is their unlimited range and their ability to track the location of the wearer of the device anywhere on the globe, wherever GPS signals are available. The availability of GPS personal tracking devices with innovative features provides end-users with quick and accurate tracking and encourages more people to buy them, thereby leading to the accelerated growth momentum of the market.

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

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What are the Key Data Covered in this Personal Safety Tracking Devices Market Report?

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

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