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Fall Detection System Market to Reach $497 Million by 2022 - By Component, Algorithm, System & End User - Research and Markets

[May 24, 2017]

Fall Detection System Market to Reach $497 Million by 2022 - By Component, Algorithm, System & End User - Research and Markets

Research and Markets has announced the addition of the "Fall Detection System Market - Global Forecast to 2022" report to their offering.

The overall fall detection system market was valued at USD 358.6 million in 2016 and is expected to reach USD 497.3 million by 2022, at a CAGR of 5.58% between 2017 and 2022.

Better accessibility to assistance in case of fall leading to reduced medical expenses, increasing demand for smartphone and wearable technology-based fall detection systems, and increasing demand for multimodal technology are the factors driving the growth of the fall detection system market. However, the low practicality and acceptability of the technology among elders, and the use of data from simulated conditions for designing fall detection system algorithms acts as a restraining factor for the market.

Multimodal sensors include accelerometers and gyroscopes; magnetometers; and audio, images, and video clips via speech recognition and on-demand video techniques. The popularity of the machine learnng method is the primary reason behind the growth of the market for multimodal sensors in the fall detection system market. The machine learning algorithm needs an array of sensors to carry out a real-time analysis of numbers and differentiate a fall from other activities of daily living. Along with this, multimodal sensors also use artificial intelligence to detect a fall. These factors are expected to act as key drivers for the multimodal sensor market.

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