The market for personal emergency response system has a strong foothold in North American regions. Especially in the USA and Canada. This is primarily due to the expenditures made by the government in the healthcare fields of these regions. Hence, the US market is expected to grow at a CAGR of 12%. It will be a leading nation until the end of this decade.
It is expected to grow at 10.4% per year to $1.86 billion by 2017. In Addition, over $3 billion when telemedicine and telehealth are included.
The global Medical Alert Systems’ market size is expected to grow from around $1.23bn in 2013 to $1.85bn by 2018. Therefore, The market is expected to reach the $2bn mark by 2020. The Population of above 65 years of age of United States will be reaching 74 million by 2020.
The College Students are subjected to a harsh reality. Sexually assaults increased day bay day and 1 in 4 women are sexually assaulted during their college life. However, Silent Beacon is in a position to seamlessly integrate into their lifestyle. The nudge features of our products alert student’s, friends and family the victim is safe or not.
In conclusion, Over 7 million seniors fall each year in the US. With over 10,000 Americans becoming seniors daily, our product reaches an ever-growing market.
This demographic outspends other generations by an estimated $400 billion each year on goods and services.
[i] The 77 million people were born between 1946 and 1964. Therefore, with the baby bombers all reaching their golden years. 20% of the United States will be senior citizens by 2030. There are over 60,000,000 people over the age of 60 in the U.S. today.
[ii] Currently, there are more Smartphones that can utilize our technology than there are actual people in the U.S.
[iii] The Smartphones drove “$20 billion in aftermarket accessory revenues” in 2012.
[iv] Currently, there are 181 million Smartphone users. By 2018, two-thirds of the U.S. population is expected to be using Smartphones (a 22% increase).
There were approximately 1,600,000 monitored PERS accounts in 2011, with over 300,000 activations occurring annually. The traditional PERS pendants linked to a home base station expected to grow 2% per year from 2012 to 2015. In fact, MPERS (mobile PERS) linked to mobile networks are expected to grow 35% per year from 2012 to 2015. In addition, IP technology advancements are driving the growth in the MPERS market segment.
[i] The US Government Consumer Expenditure Survey
[ii] The Department of Health and Human Services, AOA Division