Personal Alarm Security Devices Market Size, Share, Growth and Industry Analysis by Type (Active Alarm, And, Passive Alarm) By Application (Adults, And, Children), Regional Forecast To 2031

Updated On: 08 April 2024

Personal Alarm Security Devices Market REPORT OVERVIEW

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The global personal alarm security devices market size is expanded rapidly in 2021 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2021 to 2031.

A personal safety alarm is a device which is designed to make noise in order to scare or surprise a potential attacker. It can also help in drawing people’s attention to a person who is in danger or distress. These devices have a volume between 120 to 140 decibels. These safety alarms are in high demand owing to today’s situation.

IoT is in high demand from all the sectors. The concept of Internet of things can be used in any industry. Integration of IoT in personal alarm security devices and softwares will positively impact the market growth. This is considered as the latest trend in the personal alarm security devices market.

There are many innovations that are being introduced in the product. These devices are cost-effective. The increase in the number of working women, child safety, rising crime rates, and migration rates have propelled the market growth. These are considered as the factors driving the personal alarm security devices market growth.

COVID-19 impact: Drastic Reduction in Outdoor Activities During Pandemic Reduced Market Growth

All the markets suffered heavily during the pandemic due to a sudden decline in the demand all over the world. The spread of infectious coronavirus not only created a health crisis but also led to the economic downfall throughout the world. As result, companies were unable to raise capital or were unable to make any investments to buy machineries.

Adjusting the working capital became a challenge during the pandemic period. Therefore, industries had to operate at half of their capacities. Along with this, the restrictions that were imposed by the government authorities further deteriorated market growth and development. This also led to a drastic decrease in outdoor activities. Personal safety alarms are used when people are travelling out. As many people stayed at their homes during pandemic, the market faced a decline in demand during this period.

LATEST TRENDS

"Integration of IoT into These Devices to Increase Market Growth"

IoT or internet of things is a very popular concept and is being implemented by many softwares and companies in today’s scenario. With the implementation of IoT devices and softwares work with greater efficiency.

The major advantage of implementing IoT is that it provides multiple connectivity and helps us to easy have a surveillance on security of a person. These devices are available in different forms, patterns, and designs such as key chains, watches, and other things. This is considered as the latest trend in the market.

Personal Alarm Security Devices Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

Active alarm, and, passive alarm. The active alarm segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Adults, and, children. The adult’s segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Growing Migration Rates of People to Accelerate Market Growth"

Urbanization, globalization and many other factors have led to the development of many metropolitan cities all over the world. These cities are a hub of job opportunities, technology, and many more. Therefore, people from rural area, migrate to big cities for education, and, job opportunities.

The growing migration rate has increased the need to enforce strict safety rules especially for children, and women. Personal security alarm devices are very helpful to take care of one’s own self when no one is accessible for help. With growing migration rates, the number of nuclear families with old age people are also increasing. This is driving the demand for personal safety devices to provide protection against theft, and other crimes. All of these factors are propelling the market growth and development.

"Considerable Increase in Number of Women Working to Propel Market Growth "

With increasing accessibility to education, the number of women who have started to work are increasing day by day. Many Women work late nights in night shifts. It will be highly important to look after their safety while returning home during that time of the day. Personal alarm safety devices come in very handy in such situations.

Many new and innovative products are being introduced in the market to attract customers. Increase in thefts, and other crimes in broad day light is prone to surge the demand for these safety devices. Personal alarm security devices are used in jewelry shops, restaurants, and grocery stores. All of these factors are accelerating the personal alarm security devices market share.

RESTRAINING FACTOR

"Issues Relating to Personal Safety Softwares to Decrease Market Growth"

One of the biggest problems associated with using personal safety softwares is that the data which is provided to these softwares are at the risk of being misused. Data provided to such softwares will be highly confidential, and breach of such information can put the user into more trouble.

The number of hackers, and malware softwares have increased recently. All of these can negatively impact the market growth by posing a threat to valuable data. Security breach is the main concern with personal safety softwares that can hamper the market growth.

Personal Alarm Security Devices Market Regional Insights

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"North America to Dominate Market Share in Upcoming Years"

North America has a dominant share in personal alarm security devices market owing to many factors that have provided a favorable condition to market growth. The main factor responsible for market growth is the increasing crime rates in this region.

Looking after the safety of the citizens of this region has become the priority of government organizations. This has increased the demand for the product. Apart from this, technological developments, and several other innovations that are being introduced in the market are driving the market growth here.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• SABRE (U.S.)
• Mace Security International (U.S.)
• Streetwise Security (U.K.)
• JNE Security (U.K.)
• Nano Banshee (Canada)
• VitalCall (Australia)
• Vigilant (U.S.)
• Doberman Security (India)
• GE (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. The top industrial players along with the region that dominates the market has also been given for the readers to know.