Written by: Pramoud Rao
About the author: Ex- Promoter and MD of Zicom Electronic Security System Ltd/ Business Mentoring / Security / SaaS/ PaaS / AIoT
Your personal safety is a general recognition and avoidance of possible harmful situations or persons in your surroundings. More than 80 % of us have faced personal emergencies in our lives at some time or the other. While most of us take responsibility for our personal safety, the Law of Self Exception “Nothing will ever happen to me, it will happen to someone else” syndrome gives us a false sense of security. Protecting your personal safety revolves around preventative thinking, taking sensible precautions and being aware of your surroundings. There are simple ways to improve your personal safety on a daily basis: most of which only require common sense or following good safety practices.
One of the new categories of Life Safety Services which is now getting globally popular is PERS (Personal Emergency Response Services). Demand for PERS in the global market is fueled by the trend towards Home Based Healthcare with the active participation of Private and Government Players, Mental Health disorders like Dementia, Alzheimer, Child Safety, Pet Safety, Baby Boomers, and Roadside Safety. Ambulance Services, SOS support in emergencies, Counselling Services, especially after Covid -19 and other personal safety needs.
Interestingly, Worldwide, the Personal Emergency Response Systems markets are witnessing huge growth, covering all aspects of personal safety. The report published by Research and Markets, Personal Emergency Response Systems (PERS) – Global Market Trajectory & Analytics mentions that the Global Personal Emergency Response Systems (PERS) Market is expected to Reach $10.7 Billion by 2026. The global market for Personal Emergency Response Systems (PERS), estimated at US$8.2 Billion in the year 2022, is projected to reach a revised size of US$10.7 Billion by 2026, growing at a CAGR of 6.6% over the analysis period. So, what are the major drivers which is contributing to this growth:
- The Emergence of Budget-Centric Smartphones
- Growing Disposable Income
- Telecom networks offering 4G / 5G
- An Increasing Number of Wearable Personal Safety Products
- Cities are getting increasingly unsafe, especially for women and children.
In India, the PERS Market is in the introduction stage, with a few players now getting into this niche segment. The present market is witnessing rapid growth in the healthcare segments, with many companies now attracting PE investments. The next big emerging segment will be the Life Safety Services, backed by a 24×7 command station. India, with a mobile penetration of over 1,515,971,713 units, is embracing Mobile PERS systems to enable constant monitoring of individuals and their families even outside the confines of their homes. Growth in the segment is driven by the broader acceptance of these services, increasing awareness about various advantages of PERS, and the need to seek emergency help at a click of a button during distress.
Mobile Based PERS-based services are now coming into the markets after their initial launch failures to solve the problem of personal safety. The market growth is facilitated by technological advances related to mobile technology and the acceptance that a mobile phone can save lives. One of the early entrants in this category is Zimaxx Tech Solutions P Ltd offering Life Safety Services: Captain India- My Safety Superhero backed by a 24 x 7 command station. As per Onkar Sonalker, CEO and Director, “With mobile phones becoming ubiquitous in our daily lives, we believe Mobile PERS is an automatic choice now for people to be safe”.
Focusing on personal safety shouldn’t stop you from doing things you enjoy or living a normal life; it’s about taking the appropriate steps to stay safe. Adopting good personal safety habits means that you act on the safety hazards you have the power to control and influence. App-based PERS is a new way ahead.