Smart Personal Safety and Security Device Market Size, Industry Share, Growth Trends and Forecasts (2024 - 2031)

Based on the Type :

Based on the type, the market is bifurcated into wearable devices, smart helmets, smart knee guard, personal alarm, panic button, fall detection device, and others. The smart helmets segment accounted for a significant revenue share in the year 2023. Smart helmets are integrated with built-in technologies such as sensors, tracking tools, and augmented reality. As per the analysis, smart helmets are capable of warning individuals of dangerous conditions and send alerts in need of assistance. Moreover, smart helmets offer a range of features including integrated communication systems, enhanced visibility, ignition control system, emergency switch in case of critical situations, improved safety, and others. The above benefits of smart helmets are key determinants for increasing its deployment in defense, law enforcement, construction, and manufacturing applications among others.

For instance, Sena Technologies Inc. is a manufacturer of smart safety and security devices that offers a range of smart helmets for improved road safety in its product portfolio. The company's smart helmets are integrated with premium speakers and microphones to provide improved user experience. Thus, rising innovation associated with smart helmets for enhancing personal safety is among the prime factors driving the smart personal safety and security device market growth.

The personal alarm segment is anticipated to register fastest CAGR during the forecast period. A personal alarm refers to a compact device that enables users to monitor and communicate with an individual who may require attention in times of need. As per the analysis, personal alarms are optimized to send an emergency alert to a 24-hour monitoring service or pre-set mobile phone numbers in case it is triggered.

For instance, in June 2023, Pick Protection launched its new personal safety alarm that utilizes the phone's GPS to pinpoint exact individual location to disperse emergency services for further aid. The personal alarm is integrated with Bluetooth trigger and 12-month battery life. Therefore, rising advancements associated with personal alarms are anticipated to boost the demand of the market during the forecast period.

Based on the Technology :

Based on the technology, the market is bifurcated into Bluetooth, GPS, and others. The Bluetooth segment accounted for the largest revenue share of 51.87% in the year 2023. Bluetooth employs a short range wireless communication technology for exchanging data by utilizing short-wavelength UHF radio waves. Smart safety and security devices integrated with Bluetooth connectivity works by using radio waves for connecting smart security devices with smartphone or computer. Moreover, the integration of Bluetooth connectivity in smart safety and security devices offers several benefits including wireless communication, minimal interference, automatic connection within a specified range, and lower costs among others.

For instance, Forcite Helmet Systems Pty Ltd. offers MK1S model of smart helmet integrated with Bluetooth connectivity in its product portfolio. The smart helmet features a seamless Bluetooth connectivity to ensure improved user safety and minimal fuss. Therefore, the rising integration of Bluetooth connectivity in smart safety and security devices is a prime factor proliferating the expansion of the segment.

The GPS segment is anticipated to register fastest CAGR during the forecast period. GPS technology is often integrated in personal safety and security devices to enable individual's location tracking for enhanced safety and monitoring along with retrieval of precise locations for sending aid in case of emergency situations.

For instance, Caresafe Alarm offers SOS personal alarms integrated with GPS trackers for providing individual location in real-time. Thus, the increasing integration of GPS technology in smart safety and security devices for precise location monitoring and tracking is a key factor projected to drive the demand of the segment during the forecast period.

Based on the Application :

Based on the application, the market is segregated into healthcare, military & defense, manufacturing, construction, law enforcement, and others. The law enforcement segment accounted for the largest revenue share in the year 2023. Factors including increasing investments in law enforcement sector, rising prevalence of active law enforcement personnel, growing number of critical missions, and rising crime rates are driving the demand of the law enforcement segment.

For instance, Intelligent Cranium Helmets LLC is among the manufacturers of smart personal safety and security devices that offers IC-LE edition of smart helmets for application in law enforcement sector. Therefore, the rising development of smart safety and security devices particularly designed for law enforcement applications is driving the growth of the market.

Manufacturing segment is expected to witness fastest CAGR during the forecast period. The expansion of manufacturing segment is primarily driven by multiple factors including rising pace of industrialization, increasing investments in expansion of industrial manufacturing facilities, and prevalence of safety standards for industrial workers among others.

For instance, the government of Germany launched the "Industry 4.0" initiative with the aim of promoting the development of digital technologies in manufacturing sector. The initiative also aims at supporting automation in manufacturing along with enhancing Germany's competitiveness in the manufacturing sector. Smart safety and security devices are used in manufacturing sector to keep industrial workers safe from several physical threats in work environment. Thus, the rising initiatives to facilitate the integration of digital technologies in manufacturing sector is a key factor anticipated to drive the market expansion during the forecast period.

Based on the Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Asia Pacific accounted for the smart personal safety and security device market share of USD 1,287.01 Million in 2023 and is expected to reach USD 3,103.84 Million by 2031, registering the highest CAGR of 11.6% during the forecast period. In addition, in the region, the China accounted for the maximum revenue share of 29.5% in the same year.

Based on the smart personal safety and security device market analysis, the growing pace of industrialization and development is providing lucrative expansion prospects for the market in the region. In addition, factors including rising expansion of industrial manufacturing facilities, increasing construction activities, and others are driving smart personal safety and security device market demand in the Asia-Pacific region.

For instance, according to the Japan Statistical Yearbook 2022, the total value of construction order in Japan was valued at approximately USD 144.12 billion in 2020, depicting an increase from USD 118.04 billion in 2015. Additionally, the total value of construction order of private & government offices, hotels, and warehouse & distribution facilities witnessed a growth of 11.6%, 24.2%, and 61.4% respectively in 2020 in comparison to 2015. Smart safety and security devices such as smart helmets, panic buttons, and others are often used as a vital safety tool for empowering construction workers and enhancing their security in potentially hazardous environments. Thus, the rising construction activities is expected to boost market growth in the region during the forecast period.

North America is expected to register CAGR of 11.2% during the forecast period. The market growth for smart safety and security device in the North American region is primarily driven by its deployment in military & defense, law enforcement, manufacturing, and other sectors. Additionally, the rising crime incidences including theft, burglaries, and others along with growing need for safety and security solutions are among the significant factors driving the market growth in the region.

For instance, according to the 2021 Bank Crime Statistics Report, around 1,724 cases of robberies and 234 cases of burglaries in financial institutions such as commercial banks, mutual saving banks, credit unions, and others were recorded in the U.S. in 2021. The above factors are driving the adoption of smart safety and security devices for providing enhanced individual safety and security, particularly in cases of emergency, in turn driving the market growth in North America. Furthermore, factors including the increasing investment in law enforcement and defense sectors is anticipated to foster opportunities for market growth in North America during the forecast period.