Personal Emergency Response Systems Market

Increasing geriatric population

The increasing geriatric population is a major factor driving the growth of the Personal Emergency Response Systems (PERS) market. As people age, they become more susceptible to falls, medical emergencies, and chronic health conditions that can affect their ability to live independently. PERS provides a solution for older adults who want to maintain their independence and live in their own homes, but still want to have quick access to help in case of an emergency. The growing geriatric population, especially in developed countries, is expected to drive significant growth in the PERS market in the coming years.

Additionally, the increasing awareness of the benefits of PERS and the growing demand for assisted living services is also expected to contribute to the growth of the market.

The Global Personal Emergency Response Systems (PERS) Market Industry is significantly driven by the increasing aging population worldwide. As individuals age, they often face health challenges that necessitate immediate assistance. In 2024, the market is valued at 7.87 USD Billion, reflecting a growing demand for PERS solutions tailored to older adults. This demographic shift indicates a potential for growth, as the number of seniors is projected to rise dramatically over the next decade. By 2035, the market could reach 15.1 USD Billion, suggesting that the industry must adapt to meet the needs of this expanding population.

The expansion of the healthcare sector is a pivotal factor influencing the Global Personal Emergency Response Systems (PERS) Market Industry. As healthcare systems evolve to prioritize patient-centered care, the demand for PERS solutions is likely to increase. Hospitals and healthcare providers are increasingly incorporating PERS into their service offerings, recognizing their value in enhancing patient safety and reducing response times during emergencies. This trend is expected to contribute to the market's growth, with a valuation of 7.87 USD Billion in 2024 and a projected CAGR of 6.12% from 2025 to 2035, reflecting the industry's alignment with broader healthcare objectives.

Technological innovations play a crucial role in shaping the Global Personal Emergency Response Systems (PERS) Market Industry. The integration of advanced features such as GPS tracking, fall detection, and mobile connectivity enhances the functionality of PERS devices. These advancements not only improve user experience but also increase the appeal of these systems to a broader audience. As technology continues to evolve, the market is likely to witness a surge in demand, with a projected CAGR of 6.12% from 2025 to 2035. This growth highlights the importance of continuous innovation in maintaining competitiveness within the industry.

Regulatory support and the establishment of standards for Personal Emergency Response Systems (PERS) are essential drivers for the Global Personal Emergency Response Systems (PERS) Market Industry. Governments and regulatory bodies are increasingly recognizing the importance of PERS in enhancing public safety, leading to the development of guidelines and standards that ensure the quality and reliability of these systems. This regulatory framework not only fosters consumer confidence but also encourages manufacturers to innovate and improve their offerings. As a result, the market is poised for growth, with a potential increase in value to 15.1 USD Billion by 2035.

Growing awareness regarding personal safety and emergency preparedness is a significant driver for the Global Personal Emergency Response Systems (PERS) Market Industry. Individuals and families are increasingly recognizing the importance of having reliable emergency response solutions in place. This heightened awareness is particularly evident among caregivers and healthcare providers who advocate for the use of PERS devices to ensure the safety of vulnerable populations. As a result, the market is expected to expand, with the potential to reach 15.1 USD Billion by 2035, indicating a shift in consumer attitudes towards proactive safety measures.

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. A portion of the PERS market was dominated by North America. The market value is anticipated to increase steadily in North America because of the region's growing geriatric population and the presence of various industry participants. The American government has recently started to offer healthcare facilities to the older population, and medical facilities are progressively adopting new technological advancements.

Figure 3: PERSONAL EMERGENCY RESPONSE SYSTEMS (PERS) MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

The market for personal emergency response systems in the Asia-Pacific region is expanding impressively. The region's growing elderly population and population of people with disabilities are having a significant negative influence on the market for personal emergency response devices. Government incentives and foreign investments are helping the Asia-Pacific area expand in terms of production and total market adoption of Personal Emergency Response systems.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Personal Emergency Response Systems (PERS) industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Personal Emergency Response Systems (PERS) industry to benefit customers and expand the market sector. Major market players, including Cisco Systems, Honeywell International, Philips, Robert Bosch, and others, are attempting to increase market demand by funding R&D initiatives.

Cisco Systems develops and markets a variety of technologies for networking, security, teamwork, apps, and the cloud. It provides products for wireless, data centers, switching, routing, cloud, and email security, identity and access management, threat prevention, and unified threat management, as well as cloud and system management. Additionally, the firm offers technical assistance and cutting-edge services to enterprises, governmental bodies, nonprofit organizations, and service providers.

Honeywell International Inc. founded in 1906 is a multinational conglomerate company that provides a wide range of technology-based products and services for various industries, including aerospace, building technologies, chemicals, performance materials and technologies, and safety and productivity solutions. The company operates in over 100 countries and has a global workforce of approximately 130,000 employees.