Smart Personal Safety and Security Device Global Market Report 2024

The smart personal safety and security device market size has grown rapidly in recent years. It will grow from $5.52 billion in 2023 to $6.14 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth observed during the historic period can be attributed to several factors, including the increasing use of smart wearables, rising demand for personal safety and security devices, growing concerns regarding the safety of women and children, the spread of false information prompting heightened awareness, increasing demand across various fields and applications such as sports, and the rising adoption of personal safety apps.

The smart personal safety and security device market size is expected to see rapid growth in the next few years. It will grow to $9.41 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The anticipated growth in the forecast period can be attributed to several factors, including the growing demand for Internet of Things (IoT) devices, increasing usage of smartphone-related applications, rising crime rates prompting a greater focus on personal safety, and growing government initiatives aimed at improving women's safety. Key trends expected during this period include continuous product innovation, integration of GPS tracking technology to enhance location-based services, advances in information communication technology enabling more sophisticated safety solutions, development of intelligent safety solutions leveraging artificial intelligence and machine learning, and the formation of strategic partnerships among industry players to expand market reach and capabilities.

The anticipated increase in crime rates is poised to drive substantial growth in the smart personal safety and security device market in the foreseeable future. Weak or corrupt law enforcement agencies, inadequate resources, and ineffective policing strategies contribute to the escalation of crime rates, which can fail to deter criminal behavior and enforce laws effectively. Smart personal safety and security devices play a proactive role in crime prevention by bolstering surveillance, improving response capabilities, and empowering individuals to take charge of their safety. For instance, as per a March 2023 report by the Federal Bureau of Investigation (FBI), hate crime incidents surged by 11.6% from 8,120 in 2020 to 9,065 in 2021, highlighting the imperative for enhanced personal security measures. Therefore, the uptick in crime rates is propelling the growth of the smart personal safety and security device market.

Key players in the smart personal safety and security device market are prioritizing innovation, with a focus on products such as personal safety alarms to augment individual security and well-being. Personal safety alarms, portable devices designed to emit a loud, attention-grabbing sound when activated, offer a crucial layer of protection in various situations. For instance, in October 2023, Swann Security, a US-based security solutions provider, introduced the Swann ActiveResponse personal safety alarm. This compact and user-friendly device ensures peace of mind whether at home, on the go, or during transit. Equipped with an ActiveResponse plan, the alarm can notify up to five selected contacts and/or Swann's monitoring center and local authorities via Bluetooth and connected phone, providing them with the user's GPS location. Its versatility allows for easy carrying options, such as in pockets, bags, or worn as a necklace, or attached to keyrings, handbags, school bags, and backpacks.

In January 2021, Google LLC, a US-based technology company, acquired Fitbit, signaling a strategic focus on health and wellness. The acquisition aims to broaden access to health and wellness solutions for a wider audience by leveraging Fitbit's advanced technology, product expertise, and health innovations alongside Google's expertise in AI, software, and hardware. Fitbit, renowned for its range of smart personal safety devices, brings valuable assets and capabilities to the table, aligning with Google's vision of promoting well-being through technology.

Major companies operating in the smart personal safety and security device market are Huawei Technologies Co. Ltd., Schneider Electric SE, Honeywell International Inc., 3M Company, Koninklijke Philips N.V., Rockwell Automation Inc., Adt Inc., Fitbit Inc., Uvex Group, Arlo Technologies Inc., GreatCall Inc., Buddi Limited, Daqri LLC., Ergodyne Corp, BrickHouse Security Company, Revolar Inc., Safelet B.V., Vuzix Corporation, Force Impact Technologies Inc., Noonlight Inc., Lockly, Careline 365, Jarvish Inc., KJB Security Products Inc., Trackimo LLC, Unaliwear Inc., 100Plus Inc.

North America was the largest region in the smart personal safety and security device market in 2023. The regions covered in the smart personal safety and security device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the smart personal safety and security device market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Smart personal safety and security devices are internet-connected devices designed to enhance user safety through remote monitoring. These devices track various health metrics, including heart rate, body temperature, and steps taken, to provide users with insights into their well-being.

The primary types of smart personal safety and security devices include smart personal security and smart personal safety devices. A smart personal security device is a portable and technologically advanced gadget aimed at enhancing individual safety and security. It incorporates various technologies such as networking, positioning, sensors, and speech recognition. These devices find applications across a wide range of industries, including consumer electronics, defense, manufacturing, banking and financial services (BFSI), healthcare, telecommunications, and others.

The smart personal safety and security device market research report is one of a series of new reports that provides smart personal safety and security device market statistics, including smart personal safety and security device industry global market size, regional shares, competitors with a smart personal safety and security device market share, detailed smart personal safety and security device market segments, market trends and opportunities, and any further data you may need to thrive in the smart personal safety and security device industry. This smart personal safety and security device market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The smart personal safety and security devices market consists of revenues earned by entities by providing services such as intrusion detection, alarm monitoring, and professional installation. The market value includes the value of related goods sold by the service provider or included within the service offering. The smart personal safety and security devices market also includes sales of security cameras, motion detectors, glass break sensors, and flood detection sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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