The global GPS-based emergency response system market is projected a good growth rate from 2013 to 2022 (forecast period). The GPS-based emergency response system is a type of personal emergency response system (PERS) utilized in various industrial sectors to pinpoint an individual’s location. Rise in the numbers of geriatric populace, improvements in healthcare infrastructure, and home-based healthcare solutions are expected to augment demand for GPS-based emergency response systems.
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The advent of Internet of Things (IoT) and wearables is expected to spur the market over the forecast period. Predictive warnings of impending disasters or accidents are projected to propel market volumes. Increasing use of smartphones is also likely to play a major role in the expansion of the market in the forthcoming years. High incidence of Alzheimer’s disease and other forms of dementia is expected to drive the global market for GPS-based emergency response systems. Regulatory frameworks by international agencies such as World Health Organization (WHO) pertaining to emergencies can further contribute to market sales.
High demand for security solutions in residential and commercial sectors is anticipated to open up new growth avenues over the forecast period. Emergence of mobile PERS and availability of smartphone applications to track locations of personnel are expected to impact market growth. Availability of GPS emergency response systems during the times of disasters, medical emergencies, and other such situations can save potential lives. Novel sectors of telemedicine and telehealth are expected to be beneficial to the growth of the market in near future.
The worldwide GPS-based emergency response system market is segmented by end-user and region. Major end-users include telehealth, disaster relief, urban planning, paramedics, law enforcement, and firefighting.
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Regions covered in the market report include North America, Asia Pacific, and Europe. The North America GPS-based emergency response system market is driven by medical reimbursement and other supportive government policies related to home healthcare. Rising geriatric populace, advancements in wearables, and high adoption of medical alert devices can augment the regional market over the forecast period. Technological advances in personal safety monitoring and presence of home security solution providers can bode well for the market.
The APAC market is expected to experience a robust growth rate during the forecast period due to improving economies of South Korea, China, and Japan. Healthcare reforms, rise of telemedicine, and prevalence of chronic diseases are expected to drive the growth of the market for GPS-based emergency response system.
The Europe GPS-based Emergency Response System market is projected to thrive on account of the growing geriatric populace and rapid advances in technology. This is evident from the launch of the Galileo system which can reduce the dependence on the U.S. for GPS purposes. Adoption of smartphones for monitoring and high demand for remote patient monitoring has led to companies designing attractive wearables making it easier for caregivers to track and care for senior citizens.
Key companies in GPS-based emergency response system market include Freeus, LLC; Koninklijke Philips N.V.; Connect America LLC; Numera, Inc.; and Legrand Assisted Living & Healthcare. These players are focusing on collaborations and acquisitions to expand their service offerings. In 2017, Freeus and VRI decided to collaborate to provide mPERS solutions for healthcare. The move can net it a larger share of the market.
The report includes six parts, dealing with:
1.) Basic information;
2.) The Asia GPS-based Emergency Response System Market;
3.) The North American GPS-based Emergency Response System Market;
4.) The European GPS-based Emergency Response System Market;
5.) Market entry and investment feasibility;
6.) The report conclusion.
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