The global market for fall detection systems is anticipated to develop as the prevalence of different chronic conditions such as diabetes, Alzheimer's disease, dementia, cardiovascular diseases, and chronic obstructive pulmonary disease (COPD) rises. For instance, the WHO projects that 65.7 million people would be living with dementia worldwide by the year 2030. Throughout the projected period, the rising use of smartphones is anticipated to fuel market expansion. The number of mobile phone users globally is expected to reach 5.34 billion in 2022, according to GSMA Intelligence, a major source of data and analysis for the mobile industry. The market's leading companies are concentrating on implementing merger and acquisition (M&A) strategies to broaden their product offering. The acquisition is anticipated to broaden the selection of services that ADT Security Services' commercial division can provide to clients in Atlanta. To help improve healthcare outcomes for a subset of high-risk Medicare Advantage enrollees, for instance, the technology company Philips teamed together with the US health insurance provider Humana Inc.
According to Coherent Market Insights, The market for Fall Detection Systems is anticipated to reach US$ 5,849.3 million in 2022 and grow at a 9.4% CAGR during the projected period (2022-2030).
Key Competitors in the Fall Detection Systems Industry:
1. Koninklijke Philips N.V.
The company was founded in 1891, and Amsterdam, the Netherlands, serves as its headquarters. Koninklijke Philips NV (Philips) is a technologically diverse business that creates and produces consumer and medical devices. The Clean Air Mask from Philips featuring cutting-edge technologies was unveiled. Aug 20, 2021. Philips revealed their plan for producing value with a lasting impact on January 30, 2023.
2. Tunstall
The corporation was established in 1957 and is located in Doncaster, United Kingdom. The business produces and distributes electronic healthcare devices, including access control, community alarms, automatic and remote monitoring systems, and emergency communication tools. Secuvita, a Dutch-based provider of technological solutions with 70,000 users, was purchased by the company in 2021. It acquired the German company BeWo Unternehmensgruppe in 2022.
3. Apple Inc.
The business was established in 1976 and is headquartered in California, United States. Apple Inc. (Apple) creates, manufactures, and markets mobile devices including smartphones and tablets, as well as PCs, wearable gadgets, and portable electronics. It was announced in April 2022 that Samsung Electro-Mechanics, not LG Innotek, would work with Apple on its M2 microprocessor. Anyone in the US might access repair manuals and acquire replacement components for particular recent iPhones after Apple created an online store in April 2022. Apple responded to the earlier Pegasus discoveries on July 7, 2022 by introducing Lockdown Mode to macOS 13 and iOS 16.
4. ADT Security Services
The business was established in 1874 and is headquartered in Florida, United States. The business offers electronic security, fire prevention, and other associated alarm monitoring services for homes, small businesses, and major corporations. ADT announced a deal to buy residential rooftop solar power provider Sunpro Solar for $160 million in November 2021.
5. Medical Guardian LLC,
The business was started in 2006 and is located in Pennsylvania, United States. Medical Guardian LLC is a business that makes medical equipment. The business sells elderly citizens medical alert systems. A manufacturer and supplier of personal emergency response devices to healthcare organisations and private insurance carriers, MedScope American Corporation was bought by Medical Guardian in October 2021.
6. The ADT Corporation,
The corporation was established in 1874 and is based in Florida, United States. The business offers electronic security, fire prevention, and other associated alarm monitoring services for homes, small businesses, and major corporations. ADT announced a deal to buy residential rooftop solar power provider Sunpro Solar for $160 million in November 2021.
7. Semtech Corporation.
The corporation was established in 1960 and is located in California, United States. Semtech Company is a provider of advanced algorithms and analogue and mixed-signal semiconductors for the consumer, commercial, communications, and industrial end markets. Semtech and Sierra Wireless, a Canadian provider of Internet of Things (IoT) technology, reached an agreement for Semtech to acquire Sierra Wireless in August 2022.
8. Bay Alarm Company
The company was founded in 1946 and has its main office in California, United States. Services for security are provided by Bay Alarm Company. Together with personal emergency response systems for senior citizens, the company offers burglar and fire alarms, video surveillance, online account management, and account monitoring.
*Definition: Fall detection systems are assistive devices that are primarily used to alert the user when a fall event has occurred. A fall detection system is one of the crucial components found in the majority of smart walkers to handle balance and gait issues.
