LONDON--(BUSINESS WIRE)--The personal safety alarms market size is expected to post a CAGR of close to 10% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The increasing demand for personal safety alarms among elderly people is one of the major reasons for the personal safety alarms market growth. Most of the elderly population in countries such as the US, Ireland, and the UK, prefer to live alone. Thus, the demand for personal safety alarms is increasing among the elderly population as these alarms provide them with a sense of safety. Moreover, governments are also encouraging the use of personal safety alarms among elderly people.
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As per Technavio, the growing demand for child safety alarms will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Personal Safety Alarms Market: Growing Demand for Child Safety Alarms
The personal safety alarms market is witnessing an increase in demand for child safety alarms owing to the growing concern for childrens’ safety in schools and playgrounds. The market offers various types of child safety alarms that are equipped with several features to enhance childrens’ safety. Thus, the growing demand for child safety alarms is expected to be one of the key personal safety alarms market trends during the forecast period.
“Apart from the growing demand for child safety alarms, other factors such as the increase in product innovations and new launches along with the rise in government initiatives for the safety of citizens will have a significant impact on the personal safety alarms market growth during the forecast period,” says a senior analyst at Technavio.
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Personal Safety Alarms Market: Segmentation Analysis
This market research report segments the personal safety alarms market by distribution channel (offline and online) and geographic regions (North America, Europe, APAC, South America, and MEA).
The North American region led the personal safety alarms market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the personal safety alarms market share in North America can be attributed to several factors such as the high degree of product awareness, increasing crime activities, and the growth of the e-commerce industry in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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