Smart Personal Safety and Security Device Market Regulations and Competitive Landscape Outlook to 2025
Smart personal safety and security devices are user-friendly and autonomous in nature. They can be connected to the internet wirelessly via a third party tool. Smart personal safety device ensures end-user’s safety by monitoring and measuring impact with the device. For example, smart helmet contains flexible inner layer that becomes hard and shock absorbent when it is subjected to impact. While, smart personal security device have the ability to send an emergency message to friends and family instantly on a single press, hence enhances end-user’s safety. These devices are gaining traction in various sports applications and being increasingly used by outdoor enthusiast, which is driving the growth of global smart personal safety and security device market.
Smart Personal Safety and Security Market Segmentation
On the basis of type, the global smart personal safety and security market can be segmented into smart personal safety device and smart personal security device. The smart personal safety device segment includes smart helmet, smart mouth guard, smart knee guard and other device. The global smart personal security device segment is further sub-segmented into bracelet, pendant, key rings and other device. The global smart personal safety and security market can be segmented based on technology which includes networking technology, positioning technology, sensor technology and speech recognition technology segments. On the basis of product the global smart personal safety and security market can be segmented into finger wear, head wear, neck wear and other segments.
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Smart Personal Safety and Security Device Market: Region-wise Outlook
The globalsmart personal safety and security device market is expected to witness a healthy CAGR through 2025 due to growing awareness concerning personal safety and security among users. Regionally, the global personal safety and security device market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA). Globally, among all the regions, North America is projected to account for the highest market share followed by Western Europe over the projected period from 2015 to 2020. The U.S. is expected to be the dominant market for smart personal safety and security device in the North American region.
Smart Personal Safety and Security Device Market: Drivers
Growing inclination toward sophisticated smart devices with advanced features and new product developments in wrist and neck wear segments is expected to fuel the growth of global smart personal safety and security device market over the forecast period. Furthermore, advancement in communication technologies and growing safety and security concerns among end-users is further supporting the growth of global personal safety and security device market across the globe. However, high initial selling price associated with these devices and lack of awareness across developing regions are expected to hinder the growth of global personal safety and security device market during the forecast period.
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Smart Personal Safety and Security Market: Key Players
The key players operating in the global personal safety and security device market includes SKULLY, DAQRI LLC, Force Impact Technologies, McDavid Inc., and Other. Major players in the market follow the strategy of introducing innovative and cost effective solution to buy out competition.