According to a new report from Parks Associates, more than five million U.S. consumers are expected to own personal emergency response system (PERS) devices by 2024, generating $1.1 billion in revenues from the sale of both traditional and mobile PERS solutions in the same year.
"Traditional PERS and mobile PERS (mPERS) devices remain at the forefront, but home sensor-based systems are gaining prominence among device manufacturers and service providers," Lindsay Gafford, Research Analyst, Parks Associates, said in a statement. "Future PERS growth or decline will be largely dependent on adoption of alternative devices and home sensor-based systems."
The report, titled “Enabling Independence: Connected Solutions for Seniors and Caregivers,” says that alternative devices with emergency response capabilities—such as mobile phones, smart watches, smart speakers, and residential security systems—are competing with legacy PERS devices in the senior assistive technology market. According to the research firm, while some companies are taking advantage of the widespread penetration of these devices and finding ways to integrate more robust emergency response technology into the devices already in consumers' homes, others are leveraging these form factors to develop new PERS-specific solutions that appeal to a broader consumer base and encourage adoption.
"Industry players are all looking to encourage more proactive purchasing earlier in a senior's life, before an emergency occurs," Gafford said. "The vast majority of seniors want to stay in their own home for as long as possible, so companies can focus their messaging on senior empowerment, highlighting how the solution enables the ability to live independently at home for as long as possible, with stylistic designs that do not carry the stigma of first-generation solutions."
Additional findings from the report include:
- 18% of US broadband households are ages 65-plus. This percentage equates to nearly 19 million households and is expected to nearly double by the year 2050.
- Among seniors in US broadband households, 4% report owning a PERS device.
- 20% of US broadband households identify themselves as current or future caregivers of a senior. This equates to nearly 20 million households.
Click here for more information about the report.