LONDON--(BUSINESS WIRE)--The global personal safety alarms market is expected to post a CAGR of close to 10% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global personal safety alarms market size is the increasing demand for personal safety alarms among elderly people. Most of the elderly population in countries such as the US, Ireland, and the UK, prefers to live alone. Thus, the demand for personal safety alarms is increasing among the elderly population as these alarms give them a sense of safety. Moreover, governments are also promoting the use of personal safety alarms among elderly people. Thus, the demand for personal safety alarms among elderly people is expected to grow, which will fuel the growth of the market during the forecast period.
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 global personal safety alarms market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global 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 children’s safety in school and playgrounds. The market offers various types of child safety alarms that are equipped with several features to enhance children’s 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.
Global Personal Safety Alarms Market: Segmentation Analysis
This market research report segments the global 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 in North America can be attributed to factors such as the high degree of product awareness, growing crime rate, 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 Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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