The market for personal emergency response system has a strong foothold in North American regions – especially in USA and Canada – primarily due to the expenditures made by government in the healthcare fields of these regions. Hence, US market is expected to grow at a CAGR of 12% and will be a leading nation until the end of this decade.
The PERS Market in North America was estimated to be $963.9 million in 2010 by Frost & Sullivan. It is expected to grow at 10.4% per year to $1.86 billion by 2017 (and 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. The market is expected to reach the $2bn mark by 2020. Considering the United States alone, the population above 65 years of age will be reaching 74 million by 2020.
College Students are subjected to a harsh reality. 1 in 4 women are sexually assaulted during their college life. Silent Beacon is able to seamlessly integrate into their lifestyle, with our nudge feature the students friends and family can know that the got home safe or if they need help.
It is a well-documented fact that over 7 million seniors fall each year. 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] 77 million people were born between 1946 and 1964, and 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] Smartphones drove “$20 billion in aftermarket accessory revenues” in 2012.
[iv] Currently, there are 181 million Smartphone users, and by 2018, two-thirds of the U.S. population is expected to be using Smartphones (a 22% increase).
[v] 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, are expected to grow 2% per year from 2012 to 2015. MPERS (mobile PERS) linked to mobile networks are expected to grow 35% per year from 2012 to 2015. IP technology advancements are driving the growth in the MPERS market segment.
[i] US Government Consumer Expenditure Survey
[ii] Department of Health and Human Services, AOA Division