Industry Analysis
Fall Detection System Market was valued at USD 381.61
million in 2021 and is expected to reach USD 617.87 Million by 2029,
registering a CAGR of 15.53% during the forecast period of 2022-2029.
Wearable Systems account for the largest system segment in the respective
market owing to the high in homes as well as outside among population. In
addition to the market insights such as market value, growth rate, market
segments, geographical coverage, market players, and market scenario, the
market report curated by the Data Bridge Market Research team also includes
in-depth expert analysis, import/export analysis, pricing analysis, production
consumption analysis, and pestle analysis.
Fall Detection System Market
research report has put forth a bench-marking
example for a vibrant market that explores several recommendations and
practical growth strategies in relation to the market. The market report covers
a wide spectrum of regions and also focuses on key regions that include North
America, Europe, Asia Pacific, Middle East, South America, and the Middle East
& Africa (MEA). The chapter of the competitive landscape is presented well
in the market research report and is analyzed based on the tools such as
Porter’s five forces analysis. The study throws light upon market
attractiveness where all the segments are arranged based on the compound growth
rate, size, and general attractiveness.
Market Insights and Scope
Falling is considered one of the most damaging event that
elderly people may experience, and the rise in aging population is increasing
the need for the development of fall detection systems. Around 646K fatal falls
occur each year, according to the World Health Organization (WHO). The majority
of this figure were recorded to be adults older than 65 years in 2018.
In the event of an accident, fall detection systems notify
emergency services. It is mostly intended for the elderly. The cell phone and
the wearable device are the two main components of this system. When
a wearable gadget detects a fall, it sends an alert to the cell phone, which
subsequently sends alerts to the user's emergency contacts.
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