Personal Safety Tracking Devices Market to Record a CAGR of 9.47%, APAC to be Largest Contributor to Market Growth - Technavio
NEW YORK, Aug. 9, 2022 /PRNewswire/ -- Personal Safety Tracking Devices Market Facts at a Glance-
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According to the recent market study by Technavio, the Personal Safety Tracking Devices Market size is expected to increase by USD 397.73 million from 2020 to 2025, with an accelerated CAGR of 9.47%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenarios, future market trends, market size & estimations, and major investment pockets.
The personal safety tracking devices market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. The key developments of some of the vendors are mentioned below:
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Regional Market Outlook
The personal safety tracking devices market share growth in APAC will be significant during the forecast period. China and Japan are the key markets in the region. Moreover, market growth in APAC will be faster than the growth of the market in other regions. Many government organizations in APAC are providing insurance schemes for people with disabilities to purchase equipment for their safety. Such factors are driving the growth of the market.
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Latest Drivers, Trends, and Challenges in the Market-
The growth in urbanization has led to a rise in the number of dual-income households. Hence, investments in technologically advanced devices, such as personal safety tracking devices, have increased. These devices help parents track the location of their children.
Personal safety tracking devices with two-way voice communication provide several benefits, such as additional emergency panic buttons. This will encourage more vendors to develop similar models, which will attract more end-users.
Individuals can share their real-time locations with others through smart devices such as smartwatches and shoes. In addition, these products provide additional benefits. For instance, a small GPS tracker can be inserted in smart shoes to allow parents to find their child's location at any time.
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Technology
6 Market Segmentation by Distribution channel
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
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