March 22, 2023 18:30 ET | Source: Data Bridge Market Research Data Bridge Market Research

BOSTON, March 22, 2023 (GLOBE NEWSWIRE) -- "Smart Personal Safety and Security Device Market" is the title of a new report from Data Bridge Market Research. Key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive environment are all dissected in detail in the research. Smart Personal Safety and Security Device market research report proves to be a very significant component of business strategy. When the market report is accompanied by right tools and technology, it helps tackle a number of uncertain challenges for the business. This report provides important information which assists to identify and analyze the needs of the market, the market size and the competition with respect to Smart Personal Safety and Security Device industry. This market research document is one of the key factors used in maintaining competitiveness over the competitors. Smart Personal Safety and Security Device market report guides businesses to take better decisions for successful future planning in terms of current and future trends in a particular product or industry.

Under market overview section of an all inclusive Smart Personal Safety and Security Device business report, market drivers, market restraints, opportunities and challenges are evaluated which gives helpful insights to businesses for taking right moves. This market report is a great source of information for the major happenings and industry insights that supports to thrive in this competitive age. The report is prepared by taking into account the market type, organization volume, accessibility on-premises, end-users’ organization type, and availability at global level in areas such as North America, South America, Europe, Asia-Pacific, Middle East and Africa. Furthermore, estimation of strategic options, suggestions of winning action plans and support to make critical bottom-line decisions is also provided by experienced and innovative industry experts

Data Bridge Market Research analyses that the smart personal safety and security device market is expected to reach USD 74,420.55 million by 2030, which is USD 40,807.76 million in 2022, registering a CAGR of 7.80% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand

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Smart personal safety and security devices are those devices which are autonomous and user-friendly in nature. These devices are capable of sending an emergency message to family and friends instantly on a single press. Smart personal safety and security devices are connected to the internet wirelessly by a third party tool.

Smart personal safety and security devices have played a major role to ensuring the complete security and safety of the end-users. Nowadays, governments of various countries highlighted the importance of personal safety and security. The security system is important for personal, business and commercial purposes. These solutions are extensively being deployed for surveillance, monitoring, protection and integration services Outdoor enthusiasts are demanding these products on a large scale and this is likely to enhance the market growth during the forecast period.

The Global Market Is Analyzed in Depth in the Latest Study. Taking into account the current level of competition and its projected evolution over the next few years.

Rapidly increasing demands, a rise in industrialization, consumer awareness, growing sectors, and technical improvements are fueling the expansion of the global Smart Personal Safety and Security Device market. Sales and revenue in this sector have increased at an exponential rate. The market's size and growth are both expected to increase thanks to the factors driving the market's expansion over the projected period.

Leading businesses in the worldwide Smart Personal Safety and Security Device market are investing heavily in R&D in order to build a larger client base and expand their share of the market by reintroducing improved products to consumers. All of the companies' strategy, as well as their financial health, revenue, gross margin, and growth rate, are detailed in the study.

Some of the major players operating in the smart personal safety and security device market are:

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The surging product launches and other innovations by major market players offer numerous opportunities for the market growth. For instance, Forcite has launched a smart motorcycle helmet, MK1 In July 2019, equipped with a handlebar-mounted control unit, Bluetooth comms unit and VOIP intercom. These helmets use a LED strip system to connect visually at the periphery of the visual field, therefore confirming better rider safety.

The increasing use of smart wearables for personnel safety in the industrial environments can influence the demand for the smart Personal Safety and Security Device in the market. According to the analysis by Cisco Systems, number of connected wearable devices is anticipated to reach 1105 million by 2022, compared to 593 million in 2018. This witness the increasing consumer inclination toward connected wearables, providing early threat alerts and emergency assistance in need and gaining real-time information from location/GPS tracking. Therefore, increasing use of smart wearables for personnel safety will further create immense opportunities for the market growth during the forecast period.

Key Market Segments Covered in Smart Personal Safety and Security Device Industry Research

An inclination toward connected wearable devices or advanced smart wearables for personal safety and security device can be considered as a major driving factor for the market growth. This market growth is attributed to several factors including increasing consumer shifts towards smart wearables such as smart bands, smartwatches or bracelets and others, growing penetration toward smartphone-connected applications, and many other. Government initiatives for improving women's safety by free distribution of wearable panic buttons coupled with increasing criminal incidents such as roadside or street harassment, abuse, and so on will further drive the market growth forward. These factors are set to aid in the growth of the global smart personal safety & security device market during the forecast period.

The concerns regarding women and children safety increases due to rising violence, assault and related crimes is likely to be a major factor for the market's growth. Moreover, factors including increasing adoption of personal safety apps from working women, a rapid growth in crime rates against women and so on have been attributed to the growth of the market growth. Increasing stringent governmental rules to protect women & children from abuse further enhance the market growth. For instance, the Central Government has launched the 112 Emergency Response Support System and app In September 2020, for providing single number-based assistance during emergencies.

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Smart Personal Safety and Security Device Market Regional Analysis/Insights:

The countries covered in the smart personal safety and security device market report  U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the smart personal safety and security device market in terms of revenue and market share owing to the quick adoption of technologies and presence of developed infrastructure in this region

Asia-Pacific will continue to project the highest growth rate during the forecast period of 2023-2030 due to the high research and development activities towards smart pendants, smart helmets, and personal panic alarms in this region.

It's in your best interest to take this report into consideration because:

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