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Market InsightGlobal Personal Emergency Response Systems Market is gaining prominence from the growing semiconductor industry.
Market Research Future suggested that the global personal emergency response systems market is touted to expand at 7.3% CAGR and would achieve a valuation of USD 5,032.5 Million from of USD 1327.7 Million in 2018, during the forecast period (2018-2024).
Increasing geriatric population is the significant factor that is driving the market to a greater extent.OverviewPersonal emergency response systems refer to the devices that let the elderly or disabled individuals get assistance in case of emergencies.
These devices are designed for wearing on wristbands or neck pendants that alerts at the time of emergency when required.Get More Details of Report @ https://www.abnewswire.com/pressreleases/personal-emergency-response-systems-pers-market-size-2019-global-trends-industry-growth-key-players-analysis-development-status-competitive-landscape-and-regional-forecast-2024_441347.htmlMarket Drivers & TrendsThe market is gaining traction owing to the implementation of policies to increase the quality of home healthcare in support of independent living, development, and innovative healthcare services.
It is the trend of living of individuals independently has also encouraged the mass adoption of this product, thus thriving the growth at a rapid pace.At the same time, the proliferation of IoT and similar connected technologies have also emerged as a significant factor behind the market’s growth over the years.
On the other hand, rising ownership of smartphones and wearable devices, especially for health monitoring, have also contributed extensively to the market’s growth.