PUBLISHER: Grand View Research | PRODUCT CODE: 1553999
PUBLISHER: Grand View Research | PRODUCT CODE: 1553999
The global fall detection systems market size is anticipated to reach USD 748.40 million by 2030 and is projected to grow at a CAGR of 7.66% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing rate of the geriatric population, improved accessibility to assistance, rising demand for smartphone and wearable technology, technological advancements, and growing awareness and adoption all contribute to the demand for fall detection systems. These systems are important for ensuring the safety and well-being of individuals, especially the elderly population.
Growing advancements in artificial intelligence, wearable technology, and sensor capabilities to develop more accurate and user-friendly solutions is further drive the market growth. These developments aim to offer real-time monitoring, reduce false alarms, and facilitate swift assistance. For instance, in September 2023, AltumView launched its Sentinare 3 sensor, a cutting-edge development in AI-driven fall detection and activity monitoring systems expressly tailored to offer unparalleled privacy and care for the senior demographic.
The global demand for fall detection systems is on the rise, leading to various established and emerging players implementing strategies such as mergers & acquisitions, new product launches, and partnerships to expand their market presence. For instance, in September 2023, FallCall Solutions, a Connecticut-based technology provider, announced the expansion of their medical alert application, FallCall Detect, to include Crash Detection for iPhone 14 and subsequent models. This integration with an autonomous 24/7 emergency monitoring center represents a global pioneering achievement within the safety technology application domain. This enhancement complements FallCall's existing portfolio of features, such as their proprietary Smart Fall Detection technology, connectivity with Bluetooth-enabled medical alert accessories, and Siri-activated voice commands for emergency assistance calls.