Global Fall Detection System Market
size was valued at US$ 365.2 Mn in 2017 and is expected to reach US$ 524.6 Mn by 2026 to exhibit a CAGR of 4.63 % during the forecast period. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global fall detection system market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by Component, price, financial position, Component portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global fall detection system market. A fall detection system is defined as an assistive device placed on the human’s waist that alerts when a fall has occurred. The system can sense the persons falling by acceleration analysis and send the geographic position and fall alarm short message to caregivers. So, the elderly who have fallen can get timely help to diminish the negative influence like pressure ulcer, muscle necrosis, and hyperthermia. Rise in demand for smartphones and wearable technologies, growing demand for multimodal technology and better ability to assist in case of fall leading to reduced medical expenses drive the market growth. Low practicality and low acceptability among elders and use of data from replicated conditions for designing the fall detection system algorithm restraint the growth of the market. The privacy concerns regarding the use of fall detection systems and the sensitivity and specificity of the fall detection system are the major challenges of the fall detection system market. Global growing geriatric population and machine learning approach for detecting fall is projected to offer growth opportunity. Accelerometers & gyroscopes anticipated to hold the largest market share in forecast period owing to the Accelerometers & gyroscopes are the most commonly used components in the fall detection system and the increasing use of accelerometers & gyroscopes by end users such as senior citizens – home, and hospitals, nursing, and senior assisted living facilities is a key factor driving the growth of the fall detection system market. Between accelerometers, typically tri-axial accelerometers are used, for the gyroscope-based system, either a bi-axial or tri-axial
gyroscope is used to sense a fall. When the fall is detected, the accelerometer & gyroscope system sends an alert signal along with the GPS location of the person. Wearable system is anticipated to hold the largest size of the fall detection system market during the forecast period because of their advantage of cost-efficiency and easy installation and the wearable systems are used in homes as well as outside. Also, the availability of devices pre-installed with the machine learning algorithm is projected to be the main driver for the growth of the wearable systems segment. Senior citizens home end-user segment held the largest size of the fall detection system market in 2016, though the market for hospitals, nursing, and senior assisted living facilities to end users is anticipated to raise at the highest rate during the forecast period. Machine learning method to detect fall is a kind of artificial intelligence that uses the capacity of sensors to understand the fall-related data collected in experimental conditions and during the designing of the product. Machine learning method projected to grow at the highest rate during the forecast period owing to the machine learning method rises the robustness, sensitivity, and specificity of the fall detection system. The machine learning algorithm is extra expensive than the simple threshold method. However, due to its improved accuracy and reducing costs as well as the growing number of artificial intelligence companies in the market is expected to be the fastest-growing segment during the forecast period.
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About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healt..