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(Chicago.CityRegions.Com, February 17, 2017 ) Personal emergency response system (PERS) market is estimated to reach USD 7.62 Billion by 2020, at a CAGR of 6.0% between 2015 and 2020. The factors which are driving the personal emergency response system market include expanding base of aging population worldwide and increasing awareness about the healthy and independent lifestyle, making daily living easy and smooth.
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mPERS (Mobile PERS) Is Expected to Lead the Personal Emergency Response System Market:
mPERS, in terms of value, is expected to account for the largest share by 2020. This market is expected to grow at a CAGR of more than 5% between 2015 and 2020. The mPERS is rising as the number of smartphone users are increasing. In today’s technology-driven market, customers prefer mobility and innovation. The users of smartphone are increasing, which is increasing the customer base of the PERS smartphone market. Tech-savvy users prefer more digitalized personal emergency response systems in their smartphones.
The Market for Assisted Living Facilities Is Expected to Grow at the Highest CAGR between 2015 and 2020
The market for assisted living facilities is expected to grow at a CAGR of more than 5.0% between 2015 and 2020. This is mainly due to the fact that it involves a combination of wireless and wired technology for providing round-the-clock medical emergency safety to aging population.
North America Is Expected to Hold the Largest Market Share and Grow at a High CAGR During the Forecast Period
The North American PERS market is expected to have the largest share by 2020; the market in this region is expected to grow at a high CAGR of more than 5% between 2015 and 2020. The growth is mainly driven by the demand for landline PERS devices. Further, changing demographic proportion, that is, increasing aging population in this region and increasing awareness among the senior citizens for healthy lifestyle are key factors responsible for the increasing adoption of personal emergency response system devices.
Major players involved in the development of personal emergency response system include Koninklijke Philips N.V (Lifeline) (Netherlands), ADT LLC (U.S.), Tunstall Americas (U.S.), Valued Relationships, Inc. (U.S.), Bay Alarm Medical (California), Alert One Services (U.S.), and others.
This research report categorizes the global personal emergency response system market based on type, end- user, and region. This report describes the drivers, restraints, opportunities, and challenges with respect to the personal emergency response system market. The Porter’s five forces analysis has been included in the report with a description of each of its forces and their respective impact on the personal emergency response system market.