CAGR: 9.5%Current Market Size: USD 5849.3 MillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global Fall Detection Systems market is expected to grow from USD 5849.3 million in 2022 to USD 12089.7 million by 2030, at a CAGR of 9.5% during the Projection period 2023-2030. The increasing geriatric population is expected to drive the market’s growth.
The demand for the development of fall detection systems is growing as falling is one of the most harmful events that elderly people may encounter. According to the World Health Organization, 646K fatal falls occur yearly (WHO). In 2018, adults over 65 made up most of this number. A fall detection system is an assistive device whose main purpose is to alert the user when a fall event has occurred. A fall detection system is one of the key components most smart walkers use to solve gait and balance issues. Several approaches are used to track gait metrics using sensory systems to predict, spot, and avoid falling incidents. The risk of falling has grown, especially among the elderly, due to the rising prevalence of chronic diseases including Alzheimer's and dementia. The older population is the target audience for the fall detection system. A fall detection system will alert emergency personnel if it discovers an unintentional fall. Two essential components of the system are a wearable device and a smartphone. The wearable device notifies the user's emergency contacts when it senses a fall and sends an alarm to the mobile phone. Fall detection systems can lessen some of the detrimental effects of a fall.
Sample Request: - Global Fall Detection Systems Market
Market Dynamics:
Drivers:
Most elderly adults who fall typically have a number of concurrent medical conditions. Therefore, it's crucial to keep an eye on both the patient's actions and physiological data. An improved understanding of patient behaviours and medical conditions is made possible by connecting physiological sensors with fall detection systems, enabling more extensive monitoring. The development of fall detection systems that focus on the needs of the patient has made it possible for appropriate remote monitoring to evaluate the long-term wellbeing of patients. One of the key factors driving the growth of the market is the introduction of patient-focused fall detection systems, which has increased demand for fall detection systems.
Restraints:
The market's expansion is likely to be hampered by fall detection systems' high price. The use of these gadgets is hampered by high subscription costs in developing nations. Additionally, certain fall-detection devices on the market today are not entirely dependable and may hamper market expansion.
Opportunities:
The rising use of smartphones and other mobile devices has established a perfect environment for the development of fall detection systems. Smartphones can be configured to work as inexpensive fall detection systems by installing a variety of software programmes. Smartphones offer a practical and straightforward way to put fall detection systems into practice. Researchers strive to resolve minor issues that reduce certain system accuracy because smartphone-based fall detection systems have gained popularity among end users. The market for fall detection systems is projected to see tremendous development opportunities due to the rising smartphone adoption rate and the incorporation of fall detection systems into software applications.
Challenges:
Despite the fact that the number of falls worldwide is rising, the market for fall detection systems is not growing as quickly as it should, especially in developing nations. Additionally, a significant barrier to the market for fall detection devices is a lack of expertise and technology in some economically developing nations.
Segmentation Analysis:
The global Fall Detection Systems market has been segmented based on product type, algorithm, component, system, end-user, and region.
By Product Type
The product type segment is divided into Automatic Fall Detection System and Manual Fall Detection System. The automatic fall detection system segment dominated the market with a market share of around 55% in 2022. The concept of automatic fall detection is to keep track of a person's daily activities, identify falls when they occur, and then notify the person's carer. These systems have sensors that can distinguish between normal activity and a fall, such as several accelerometers and processors. The automatic fall detection system is seeing promising developments as technology advances. For example, Apple has developed a fall detection watch that incorporates fall detection technology.
By Technology
The technology segment is divided into GPS systems, mobile phones, and sensors. The mobile phones segment dominated the market with a market share of around 45.2% in 2022. The increasing penetration of smartphones is expected to drive the segment’s growth. Increased demand for smartphones and wearable technology, improved assistance in the case of a fall, and lower medical costs are driving the segment's expansion.
By System
The system segment is divided into Wearable Systems, Non-Wearable Systems, In-Home Landline System, In-Home Cellular Systems. The wearable systems segment dominated the market with a market share of around 25.7% in 2022. The method based on wearable sensors is preferred above the method based on sound. To detect falls during routine activities, some detection systems employ either an accelerometer or a gyroscope, while some use both sensors. The data from the sensors was processed by the microcontroller or computer. These wearable sensors can function on their own. As a result, older people's actions are continually observed.
By End-user
The end-user segment is divided into Home Care Settings, Hospitals and Senior Assisted Living Facilities, Lone Workers, and Others. The hospitals and senior assisted living facilities segment dominated the market with a market share of around 21.4% in 2022. Most of the hospitals and senior assisted living facilities donot have sufficient staff to look after the senior citizens all the time, this increases the need for fall detection systems. This helps in monitoring the activities of senior citizens and keeping a track of their falls and slips on a regular basis.
Global Fall Detection Systems Market - Sales Analysis.
The sale of Fall Detection Systems market expanded at a CAGR of 9% from 2016 to 2022.
Over the Projection period, the market for fall detection systems is anticipated to expand significantly. This is mostly caused by factors like the growing elderly population and the popularity of wearable technology among consumers. In addition, rising smartphone usage is anticipated to drive the market for fall detection systems. Additionally, the growing popularity of personal healthcare systems among consumers may help the global market for fall detection systems. Additionally, market growth is anticipated to be fueled in the upcoming years by technical advancements and the incorporation of AI technology.
The global market for fall detection systems is anticipated to develop as the prevalence of different chronic conditions such as Alzheimer's disease, dementia, cardiovascular diseases, chronic obstructive pulmonary disease (COPD), and diabetes rises. For instance, the WHO predicts that by 2030, there will be 65.7 million people worldwide who suffer from dementia. During the Projection period, the rising use of smartphones is anticipated to fuel market expansion. For instance, GSMA Intelligence, a key source of data and research for the mobile sector, predicted that there will be 5.34 billion mobile phone users worldwide in 2022.
Thus, owing to the aforementioned factors, the global Fall Detection Systems market is expected to grow at a CAGR of 9.5% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the Fall Detection Systems market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the Fall Detection Systems market and held a 40% share of the market revenue in 2022.
Global Fall Detection Systems Market - Country Analysis:
Germany's fall detection systems market size was valued at USD 421.14 million in 2022 and is expected to reach USD 876.8 million by 2030, at a CAGR of 9.6% from 2023 to 2030. The market is expanding in Germany due to the rising consumer demand for health monitoring gadgets to support or adopt a healthy lifestyle. Additionally, rising German consumer purchasing power brought on by higher disposable income is accelerating market expansion. Growing interest in smart wearable technology has bolstered the nation's e-commerce sector. The market for fall detection systems is seeing opportunity in a country like Germany due to rising purchasing power.
China’s fall detection systems market size was valued at USD 456.2 billion in 2022 and is expected to reach USD 963.7 million by 2030, at a CAGR of 9.8% from 2023 to 2030. The market's expansion in China can be the development of artificial intelligence technology in the country. Furthermore, the presence and availability of global brands in the country also adds impetus to the market's growth.
India's fall detection systems market size was valued at USD 350.9 million in 2022 and is expected to reach USD 735.9 million by 2030, at a CAGR of 9.7% from 2023 to 2030. The market's expansion in India is fueled by an increase in the number of artificial intelligence businesses, the spread of smartphones, and rising personal disposable income. Consumer preference for healthcare systems and an increase in the requirement for equipment quality assessment will further increase the market's development rate. Other key factors influencing market expansion include increasing R&D capabilities and a rise in the use of accelerometers and gyroscopes.
Key Industry Players Analysis:
To increase their market position in the global Fall Detection Systems market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
11.3% |
Market Size |
13.4 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product Type, By Technology, By System, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Tunstall Group, Koninklijike Phlips N.V., Medical Guardian LLC., Connect America, SafeGuardian Medical Alarms & Help Alert Systems, Bay Alarm Medical, LifeFone Medical Alert Services, LifeStation, Inc., ST Engineering, AlertONE Service Inc., Walgreen Company, Semtech Corporation, Rescue Alert, Galaxy Medical Alert Systems, Care Innovations, LLC, and MobileHelp. |
By Product Type |
|
By Technology |
|
By System |
|
By End-User |
|
Regional scope |
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Scope of the Report
Global Fall Detection Systems Market By Product Type:
Global Fall Detection Systems Market By Technology:
Global Fall Detection Systems Market By System:
Global Fall Detection Systems Market By End-User:
Global Fall Detection Systems Market By Region:
Global fall detection systems market is expected to reach USD 12089.7 million by 2030.
Leading market players active in the global fall detection systems market are Tunstall Group, Koninklijike Phlips N.V., Medical Guardian LLC., Connect America, SafeGuardian Medical Alarms & Help Alert Systems, Bay Alarm Medical, LifeFone Medical Alert Services, LifeStation, Inc., ST Engineering, AlertONE Service Inc., Walgreen Company, Semtech Corporation, Rescue Alert, Galaxy Medical Alert Systems, Care Innovations, LLC, and MobileHelp.among other
The fall detection systems market is projected to have a CAGR of 9.5%.
Based on the product type, the fall detection systems market is segmented into automatic fall detection system and manual fall detection system.
Based on the technology, the global fall detection systems market has been segmented into GPS systems, mobile phones, and sensors.
Political Factors- The fall detection systems market was impacted by the country's recent level of political stability. Furthermore, high-ranking government officials may be forced to resign or be impeached due to the honesty of the politicians and their propensity to commit crimes of corruption. the laws that the country enforces, especially those that deal with business, like contract law, because they outline what is and isn't allowed to be done. For instance, some countries prohibit alcohol or have strict regulations that must be followed, while other governments have bloated bureaucracies that discourage business.
Economic Factors- Whether the market is now organized as a monopoly, oligopoly, or anything more akin to a system of perfect competition. Depending on the country's GDP growth rate, will likely expand in the near future at a varying pace. The amount that people are willing to invest and borrow is influenced by the country's interest rates. Higher rates would encourage greater investment, which would boost GDP. The country's exchange rate would have an effect on profitability, particularly if it engaged in international trade.
Social Factors- The population's age and gender distribution significantly affect whether or not a certain product may be marketed to them. Because the makeup is predominantly marketed to women, targeting a demographic mostly male would result in fewer people being reached than targeting a mostly female group. It would be hard to promote a premium product to the broader public if the majority of individuals belonging to a lower class; instead, they would have to concentrate on extremely specialized niche markets. Therefore, the distribution of classes throughout the population is vital. Due to the differences in the educational backgrounds of marketers and the target market, it could be difficult to effectively relate to and draw in the target market.
Technological Factors- opponents' aforementioned technological developments and breakthroughs. The degree of adoption of a new technology, as well as how quickly it is developing and displacing sales from competitors in the business in question, must all be closely monitored. This would be the level of urgency required to effectively react to the creation, either by matching the technology or developing a unique replacement.
Environmental Factors- The ability to move materials and the finished product may be significantly impacted by the weather at this time. In the event of an unexpected monsoon, this would then affect when the finished product would be delivered. Climate change would cause some goods to lose all of their value. In the case of textiles, warm winter gear has a substantially smaller market in countries where the winter has become quite mild due to global warming. Businesses with high rubbish production may face legal restrictions on their environmental practices.
Legal Factors- As was already stated, the goal of intellectual property laws and other data protection legislation is to protect the ideas and patents of companies that solely profit from the information. The system will lose its competitive edge and is very likely to fail if there is a risk of data theft. Anti-discrimination rules passed by the government are meant to protect employees and ensure that everyone is treated fairly and given the same opportunities, regardless of gender, age, handicap, race, religion, or sexual orientation. Health and safety laws were formed as a result of witnessing the horrifying conditions that people had to work in during and immediately after the industrial revolution.
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