Fall Detection System Market, By Component (Multimodal Sensors, Accelerometers & Gyroscopes, Unimoda

Published Date: April 2020 | Report Code : IT2064406

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Fall Detection System Market, By Component (Multimodal Sensors, Accelerometers & Gyroscopes, Unimodal/Bimodal Sensors), Algorithm (Machine Learning and Simple Threshold), End User (Senior Citizens – Outside, Senior Citizens – Home, Hospitals, Nursing, and Senior Assisted Living Facilities, and Others), and y Region (North America, Europe, Asia Pacific, Middle East & Africa, And South America) – Market Size & Forecasting To 2028

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Report Code : IT2064406

Status : Published April 2020

The Global Fall Detection System Market size was valued at USD 405.4 million in 2019 and is anticipated to grow at a CAGR of 6.2% during the forecast period. The fall detection system is used to detect the harm and causes for the senior citizens. The senior citizens with age more than 65 have serious issues and can call for an emergency wherein the fall detection system helps to monitor and alert for help. There are various automatic and manual fall detection systems that can be worn on the waist and another necessary part of the body to give an alert when the individual is sleeping, working, or taking shower. The fall detection system consists of various components which include multimodal sensors, accelerometers & gyroscopes, unimodal/bimodal sensors to monitor the movement of the user.

Increase in the number of aged populations across the globe, increase in demand for automatic medical devices, growing consumer preference for smart medical equipment, increase in geriatric population, increase in demand for high-quality medical equipment is further expected to drive the growth of fall detection system market. Furthermore, increase in demand for better accessibility to assistance due to cause of failure, and therapies and growing research and development by key players, and growing concerns of individuals for a healthy lifestyle are factors that will propel the global fall detection system market during the forecast period. Furthermore, high costs of products and lack of skilled professionals, problems in designing mathematical algorithms are some of the major factors which hamper the growth of fall detection system market.

Key Factors Impacting the Growth of Fall Detection System Market:

  • Technological advancements
  • Increasing demand from senior citizens
  • Increase in innovation and development in medical devices
  • Increasing demand for smart and automatic fall detection system
  • Digitalization of healthcare systems

The fall detection system market segmentation is based on components, algorithm, end user, and region. The leading pharmaceutical leaders are looking to the fall detection system for various new applications according to diesis and body failures. The fall detection system market is currently witnessing high growth due to increased demand in order to provide better healthcare in the shortest possible time and expenses.

Component Outlook:

The component for the generation of revenues in the global fall detection system market is accelerometers and gyroscopes. The accelerometers and gyroscopes segment is predicted to account for the largest share in fall detection system market. This can be due to its functions such as providing GPS location with alert system and high accuracy. The increase in demand for accelerometers and gyroscopes in hospitals, clinics, and senior citizen living facilities. These factors are expected to increase the demand for accelerometers and gyroscopes in the market during the forecast period.

Algorithm Outlook:

Based on algorithm, the fall detection system market has been segmented into machine learning and simple threshold. As per the current market scenario, the machine learning segment has covered the largest fall detection system market share and is projected to register a higher CAGR during the forecast period. The increase in demand for artificial intelligence in the medical devices, growing demand for high accuracy, fast response, sensitivity in the method, increase in innovation and development in machine learning algorithms by key manufacturers are the factors which are expected to increase the demand for fall detection system during the forecast period.

Regional Outlook:

Based on the region, the global fall detection system market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. In terms of revenue, North America holds a dominant position in the global fall detection system market. The region's dominance is attributable to favorable reimbursement policy of medical, increase in geriatric population, increase in adoption of machine learning method for the fall detection system, and increase in research and development in the region. The growing demand for fall detection system in single families, growing number of hospitals and clinic centers, rise in reimbursement policy, and growing demand for high quality medical devices are expected to raise the demand for fall detection system in region. Furthermore, Asia Pacific is estimated to project the fastest growth rate in the market during the forecast period. This growth can be accredited to several factors, such as the increase in number of geriatric population, increase in number of research labs and centers, increase in adoption of machine learning method, and increase in demand from the developing countries.

The report analyzes factors affecting the fall detection system market from both demand and supply side and further analyses market dynamics affecting the market during the forecast year such as driver, restrain, opportunities and future trends. The report also provides comprehensive Porter’s model analysis on the Fall detection system market for all six regions namely; North America, Western Europe, Eastern Europe, Asia Pacific, Middle East and the Rest of the world.

Competitive Landscape

 Major companies are investing in research and development. Key market players are also adopting inorganic development strategies like as acquisition of local brands. Similarly, other business models such as joint venture and market entry strategies are helping prominent vendors to make their presence felt in the fall detection system market and increase their product portfolio. The key leading players in the market include Connect America, Tunstall Healthcare Group Ltd., Bay Alarm Medical, Mobilehelp, Semtech Corporation, Koninklijke Philips N.V., ADT Corporation, Medical Guardian LLC, Singapore Technologies Electronics Limited, and Mytrex, Inc.

This report also includes the profiles of key fall detection system market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.

What Does This Report Provide?

This report provides a detailed understanding of the global fall detection system market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Component

  • Multimodal Sensors
  • Accelerometers & Gyroscopes
  • Unimodal/Bimodal Sensors

By Algorithm

  • Machine Learning
  • Simple Threshold

By End User

  • Senior Citizens – Outside
  • Senior Citizens – Home
  • Hospitals, Nursing, and Senior Assisted Living Facilities
  • Others

By Region:

  • North America Fall Detection System Market
    • By Country (US, Canada, Mexico)
    • By Component
    • By Algorithm
    • By End User
  • Europe Fall Detection System Market
    • By Country (Germany, Rusiia, UK, France, Italy, Spain, Rest of Western Europe)
    • By Component
    • By Algorithm
    • By End User
  • Asia Pacific Fall Detection System Market
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Component
    • By Algorithm
    • By End User
  • Middle East & Africa Fall Detection System Market
    • By Country (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa)
    • By Component
    • By Algorithm
    • By End User
  • South America Fall Detection System Market
    • By Region (South America, Africa)
    • By Component
    • By Algorithm
    • By End User

Reasons to Buy This Report:

  • Market size estimation of the fall detection system market on a regional and global basis
  • Unique research Usage for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

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We provide customization of the study to meet specific requirements:

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