By GLOBE NEWSWIRE (Tue, October 05, 2021)
The global connected personal alarm market is expected to reach USD 250.9 million by 2027 with the CAGR of 18.0%.
The demand for connected personal alarms is growing due to increasing threats against women and children. According to the UN organization, 71% of victims of human trafficking are women and girls globally. Child trafficking victims include both boys and girls aged 1–18 years.
According to the Walk Free Foundation and International Labour Organization (ILO), 15.4 million victims (i.e., 75%) are aged 18 or above, while the number of children aged below 18 is estimated at 5.5 million (i.e., 25%). Although many android applications are available for women’s safety, most of them are inefficient. Therefore, a connected personal alarm can be beneficial for women and children’s safety.
COVID-19: A Threat to the Worldwide Linked Personal Alarm Market
The outbreak of the current coronavirus pandemic is projected to cause a gradual decline in the sector. Due to labor shortages, manufacturing operations have come to a halt, which has resulted in a steep drop in demand from end-use industries. As a result, the supply chain mechanism will be disrupted, and demand will decrease. The pandemic’s adverse effects are already evident, and they are affecting the connected personal alarm market.
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Connected Personal Alarm Market by Function
Prevalence of Alarm Alert Function
The global connected personal alarm market consists of three primary functions: alarm, alarm alert, and texting/calling. In case of emergency, the victim presses the emergency button of a device or an application with or without knowing the attacker; it instantly sends an alarm alert notification in the form of a text message or a reminder text of alert to the set point of the contact person.
However, the emergency contact number is often the ‘emergency services,’ available 24/7 in the midst of an emergency. This function also provides the victim’s last location through the GPS and makes it easy to detect the victim in less time. It is effective for young children and senior citizens.
Connected Personal Alarm Market by Type
Wearables Hold Maximum Share
Based on type, the market is segmented into wearables, portable devices, and mobile applications. These alarms are small in size and less in weight, and thus, can be attached to a keychain and backpack/purse or clipped to clothing.
The major purpose of a wearable alarm system is to gain the attention of surroundings in case of emergency. Various wearable devices are available in the market, such as pendants, wristwatches, wristbands, remote controls, smart cards, bracelets, thumb rings, press buttons, hair clips, bracelets, etc. These wearable devices have a range of features, including small size, lightweight, easy-to-use, cost-effective, portable, slick designs, fast responsive, and are built according to the situation. These wearable alarms can be worn on any part of a living as and a non-living thing.
Connected Personal Alarm Market by Application
Humongous Growth Potential of Personal Security
The main application of personal alarm is to provide security by distracting the attacker in unescapable situations. Several devices are available in the market to provide personal security to an individual; a few of them are most popular such as key chains, pendants, wristbands, wristwatches, press buttons, and hair clips. These devices have a built-in GPS tracker, sensors, power source, and siren. They are suited for every age group and helps professionals and well-known public figures.
Connected Personal Alarm Market by Regions
Dominance of North America Over Others
North America is one of the prominent regions in the global connected personal alarm market due to progressing awareness towards personal safety and security among users. It is legal to carry and use connected personal alarms for self-defense across the United States. Nowadays, many old-age people in the U.S. prefer living alone or with few companions but require these helpful security and alert systems in case of emergency. Therefore, increasing demand for connected personal alarm among the aging population is driving the growth of the North American market.
Moreover, the prevalence of chronic diseases and swelling healthcare expenditure is expected to drive the demand for connected personal alarm market in North America. It houses some of the largest manufacturers of personal connected alarm devices such as Revolar, ADT, and Tbaytel. ADT is the leading provider of personal monitored alarm systems in North America. Increased R&D in connected alarm, home automation systems, and the Internet of Things in terms of new and improved technologies are the major factors driving market growth in North America.