APAC will register the highest growth rate among the other regions. Therefore, the personal safety tracking devices market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
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Vendor Insights
The Personal Safety Tracking Devices Market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
The report also offers information on several market vendors, including Amber Alert GPS Inc., Angel Sense Ltd., BrickHouse Security, Concox Information Technology Co. Ltd., Globalstar Inc., Le Vise Products LLC, Location Based Technologies Inc., Reliance Industries Ltd., Veriot LLC, and WTS Positioning Solutions AB among others.
Globalstar Inc. - In February 2021, the company announced a strategic alliance with XCOM Labs. These companies will jointly seek to commercialize XCOM's capacity-multiplying technology with Globalstar's Band n53 for dense 5G deployments in the US and in other countries
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Amber Alert GPS Inc.
- Angel Sense Ltd.
- BrickHouse Security
- Concox Information Technology Co. Ltd.
- Globalstar Inc.
- Le Vise Products LLC
- Location Based Technologies Inc.
- Reliance Industries Ltd.
- Veriot LLC
- WTS Positioning Solutions AB
Find additional highlights on the growth strategies adopted by vendors and their product offerings. Read Free Sample Report.
Geographical Market Analysis
36% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for personal safety tracking devices in APAC. Market growth in this region will be faster than the growth of the market in other regions.
In APAC, many government organizations are providing insurance schemes for people with disabilities to purchase equipment for their safety. Such government support helps patients suffering from dementia in Australia to buy personal safety tracking devices at a lower cost. This will facilitate the personal safety tracking devices market growth in APAC over the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/personal-safety-tracking-devices-market-industry-analysis
Key Market Trends & Challenges:
The growing popularity of two-way voice communication-based personal safety tracking devices is one of the prominent trends that is likely to positively impact the market growth. Two-way voice communication-based personal safety tracking devices have additional emergency panic buttons to help the wearer to raise an alert instantly in case of an emergency. The benefits offered by personal safety tracking devices with two-way communication can encourage more vendors to develop similar models, which will attract more end-users to buy them, thereby leading to the accelerated growth momentum of the market in focus during the forecast period.
The increasing availability of substitutes is likely to hinder the market growth. The availability of multifunctional smart devices such as smartwatches and shoes can affect the sales of personal safety tracking devices during the forecast period. These smart devices help in tracking of the wearer and allow friends and family to locate him/her. The easy availability of cheap quality substitutes may pose a challenge to the market growth.
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Personal Safety Tracking Devices Market Value Chain Analysis
It includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
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Elderly and Disabled Assistive Solutions Market by Product and Geography - Forecast and Analysis 2021-2025
Personal Safety Tracking Devices Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9% |
Market growth 2021-2025 |
USD 397.73 million |
Market structure |
Fragmented |
YoY growth (%) |
3.93 |
Regional analysis |
North America, APAC, Europe, South America, and MEA |
Performing market contribution |
APAC at 36% |
Key consumer countries |
US, China, Germany, Japan, and France |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Amber Alert GPS Inc., Angel Sense Ltd., BrickHouse Security, Concox Information Technology Co. Ltd., Globalstar Inc., Le Vise Products LLC, Location Based Technologies Inc., Reliance Industries Ltd., Veriot LLC, and WTS Positioning Solutions AB |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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