Smart Personal Safety and Security Device Market overview:
The Smart Personal Safety and Security Device Market is expected to grow significantly during 2020-2030. The market is expected to be worth USD 8.74 billion by the end of the forecast period due to these trends and expanding worldwide demand. During the forecast period, the Smart Personal Safety and Security Device Market will expand at a 13.6% CAGR.
Growing safety and security concerns for women, the elderly, and children are the primary drivers of industry expansion. Increasing advancements in smart devices with enhanced functionality and creative product improvements in the wrist and neckwear categories are driving market expansion. Furthermore, the increasing usage of personal security tools and IoT-based smart devices, and the development of new sophisticated communication technologies, are boosting market expansion. Furthermore, consumers’ increased adoption of numerous safety software programs propels market expansion.
COVID-19 had a favorable influence on the smart personal safety and security device market due to the number of industrial verticals adopting smart personal safety and security devices during COVID-19’s outbreak. Many businesses, particularly banking, financial services, and insurance (BFSI), as well as telecommunications and information technology (IT), were introducing security solutions to protect customer data. The post-pandemic security solutions industry is predicted to develop rapidly due to increased awareness of the potential benefits of security equipment.
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|Market Size in 2030||USD 8.74 Billion|
|Growth rate:||CAGR 13.6% from 2020 to 2030|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
Smart Personal Safety and Security Device Market Segmentation:
The smart personal safety and security devices market is segmented into product, type, technology, and industry.
In-depth Market Research Report (155 Pages) on Smart Personal Safety and Security Device Market:
Smart Personal Safety and Security Device Market Regional analysis:
The Smart Personal Safety and Security Device market is thriving in four primary areas: North America, Asia-Pacific, Europe, and the rest of the world. Among all of these regions, North America will lead this industry, and the reason for this is that firms creating smart gadgets are becoming engaged and making people aware of their safety and security. In addition, significant technical developments in the communication technology industry are occurring. During the projected period, North America will have the biggest market share, accounting for approximately 42% of the worldwide market. Due to increased safety concerns among end-users, the Asia-Pacific area will also experience great development. On the other hand, due to a lack of knowledge about technical breakthroughs and inventions, the European market and the rest of the globe will see sluggish growth throughout the projection period.
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