According to the new market research report "Fall Detection System Market
by Component (Accelerometer & Gyroscope, Unimodal/Bimodal,
Multimodal Sensors), Algorithm (Simple Threshold, Machine Learning),
System (In-Home Landline, In-Home Cellular, Wearable), End User, and
Region - Global Forecast to 2022", the overall fall detection
system market is expected to be worth USD 497.3 million by 2022, growing
at a CAGR of 5.58% between 2017 and 2022.
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=125162303
Browse 64 market data tables and 73 figures spread through 154 pages and in-depth TOC on "Fall Detection System Market"
The
major companies involved in the development and supply of fall
detection systems include Koninklijke Philips N.V. (Netherlands),
Connect America (US), The ADT Corporation (US), Tunstall Healthcare
Group Ltd. (UK), Medical Guardian LLC (US), Bay Alarm Medical (US),
Singapore Technologies Electronics Limited (Singapore), MobileHelp (US),
MariGroup Oy (Finland), Mytrex, Inc. dba Rescue Alert (US), Semtech
Corporation (Netherlands), AlertOne Services, LLC (US), and LifeFone
(US). Intel Corporation, MariGroup Oy, Vital Connect Inc. and Blue
Willow Systems are the four key innovators considered as a part of the
fall detection system market.
The major factors driving the growth of the fall detection system market include the better accessibility to assistance in case of fall leading to reduced medical expenses, increasing demand for smartphone and wearable technology, and increasing demand for multimodal technology. These factors are expected to propel the growth of the fall detection system market during the forecast period.
The major factors driving the growth of the fall detection system market include the better accessibility to assistance in case of fall leading to reduced medical expenses, increasing demand for smartphone and wearable technology, and increasing demand for multimodal technology. These factors are expected to propel the growth of the fall detection system market during the forecast period.
“Accelerometers & gyroscopes expected to hold the largest market share between 2017 and 2022”
Accelerometers
and gyroscopes are the most widely used components in the fall
detection system. Among accelerometers, mostly tri-axial accelerometers
are used; for the gyroscope-based system, either a bi-axial or tri-axial
gyroscope is used to detect a fall. In case a fall is detected, the
accelerometer & gyroscope system sends an alert signal along with
the GPS location of the person. 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 fall detection system market for accelerometers &
gyroscopes.
“Fall detection system market for machine learning method expected to grow at the highest CAGR during the forecast period”
Machine
learning method to detect fall is a kind of artificial intelligence
that utilizes the ability of sensors to understand the fall-related data
collected in experimental conditions and during the designing of the
product. However, though the machine learning method increases the
robustness, sensitivity, and specificity of the fall detection system,
its algorithmic design consumes a lot of computable resources, thus
limiting its applications in wearable devices. The machine learning
algorithm is more expensive than the simple threshold method. However,
owing to its better accuracy and reducing costs as well as the
increasing number of artificial intelligence companies in the market, it
is expected to be the fastest-growing segment during the forecast
period.
“Market in North America accounted for the largest share of the overall fall detection system market during the forecast period”
North
America is considered as the major contributor to the global fall
detection system market, and the US holds the largest market share in
the region. The market in North America is segmented into the US,
Canada, and Mexico. A major trend driving the fall detection system
market in the region is the expected increase in the acceptance rate of
fall detectors among the rapidly increasing geriatric population.
Furthermore, the growing adoption rate of the machine learning method
and reimbursement of healthcare-related costs are the major factors
driving the fall detection system market in the US and Canada.
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