Smart Personal Safety and Security Device Market Overview:
According to the MRFR analysis reports, Smart Personal Safety and Security Device Market Research Report: By Type, End User, and Region – Forecast till 2030, the market is expected to attain a size of approximately USD 8.74 Billion by the end of 2030. The reports further predict the market to flourish at a substantial CAGR of over 13.6% during the assessment era from 2020 to 2030.
Market Scope: Smart security devices help wireless functioning and can be linked to the Internet using any tool from a third party. The utilization of these devices is more ardent when it comes to securing the interests of the market end-users as these devices help carry out functions like measuring and tracking. Also, these devices are developed in such a manner to perform the potential to immediately send an emergency text to family and close friends with a single press only. This is a stance toward guaranteeing and ensuring reliable and better safety standards. Further, the growing crime rates and spread of false information must be stopped, which exhibits brilliant factors for the Smart Personal Safety and Security Device Market over the assessment timeframe ending in 2025. The primary aspect supporting the consistent growth of the small personal safety and security device market is that the products are easy to use and autonomous.
Report Attribute/Metric |
Details |
Market Size in 2030 |
USD 8.74 Billion |
Growth rate: |
CAGR of 13.6%from 2022 to 2030 |
Forecast Period |
2022-2030 |
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
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Competitive Analysis
The global market for smart personal safety and security devices has leading participants such as:
Market USP Covered
Market Drivers
The global market for smart personal safety devices has grown immensely recently, given the aspects such as convenient usage and outdoor enthusiasts demanding these products.
Market Restraints
On the other hand, the objective audience is not entirely aware of the features of these devices, which in turn may impede the market’s performance.
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COVID-19 Impact
The global health crisis has had a massive impact on the production and manufacturing units of several business people and proprietors. The global market for smart personal safety and security devices has witnessed a minor turn down because of the travel restrictions and functional restraints imposed by the governments across most parts worldwide. The market players across the global market faced several unexpected challenges because of the pandemic. On the other hand, with the financial and industrial activities getting back on track, the global market for smart personal safety and security devices is anticipated to grow substantially over the assessment era.
Segment Analysis
Among all the components, the hardware segment is anticipated to dominate the global market for smart personal safety and security devices over the coming years. the central aspect causing an upsurge in the segment’s growth is the adoption of smart devices like video & audio recorders, paper spray, personal alarms, smart mouth guard, hidden cameras, safety jewelry, smart knee guard, and smart helmet. On the other hand, the software segment is anticipated to grow at the highest pace over the assessment timeframe, given the introduction of various Smartphone applications related to safety and security concerns.
Among all the technologies, the navigation segment is predicted to secure the top position across the global market for smart personal safety and security devices over the review era. The primary reason backing the segment’s growth is the use of GPS technology in several security devices and applications.
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Regional Analysis
The global market for smart personal safety and security devices is analyzed across five major regions: Europe, Asia-Pacific, Latin America, North America, and the Middle East & Africa.
As the research reports by MRFR, the North American region is predicted to lead the global market for smart personal safety and security devices over the coming years. the primary aspect supporting the growth of the regional market is the organizations producing smart devices are getting included and making the users informed of their security and safety. In addition, the constant technological developments in the communication technology sector are another prime aspect boosting the regional market’s growth. The regional market is anticipated to account for almost 42 % of the global smart personal safety and security device market over the coming years.
The Asia-Pacific region’s smart personal safety and security device market is anticipated to exhibit the highest CAGR over the assessment timeframe. The growing safety concerns among the end-users are the main reason behind the massive growth in demand for these devices across the region. The regional market is predicted to grow substantially over the coming years at a robust CAGR of over 13.5%. It is anticipated to secure the second position across the globe. as per the research reports by MRFR, the regional market is likely to be USD960.6 million by the end of 2030.
The European regional market for smart personal safety and security devices is anticipated to grow significantly over the coming years. the growth of the regional market is credited to the aspects such as the growing number of attacks and threatening situations.
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