Artificial Intelligence
The U.S. personal emergency response systems market is expected to grow at a CAGR of 9.09% during 2022-2027
New York, June 24, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “U.S. Personal Emergency Response Systems (PERS) Market – Industry Outlook & Forecast 2022-2027” – https://www.reportlinker.com/p06288143/?utm_source=GNW
• Escalating Prevalence of Chronic Diseases and Rising Number of Injuries
• Increasing Adoption of Smart Wearable Devices for Health Monitoring
• Rising Number of Geriatric Population Living Independently
Medical alert systems, especially personal emergency response systems (PERSs), are becoming increasingly popular among all older people in the United States. PERS are primarily designed to allow the elderly and people with disabilities to quickly request/alert for assistance in an emergency. Communication technology and modern sensors, coupled with advances in data analysis, have enabled remote monitoring and management of older adults. The PERS system is one such technology that allows individuals, including older adults, to call for help during an emergency. Older people are often prone to falls and require medical attention in most cases. Additionally, for family members of active seniors, it is highly recommended to track and monitor their activities and remind them about medication. Additionally, for people with mild cognitive illness and who suffer from disorientation, PERS offers life-saving features like location tracking and geo-fencing. The growing integration between wearable medical devices and medical alert systems like PERS and healthcare facilities will enable remote access to patient data and offer essential home healthcare services and improve patient safety and health outcomes. The demand for such integrated wearable devices has gained more importance after the onset of the COVID-19 pandemic. They offer patients, especially elderly ones, safer, more accessible options for routine, preventive, and chronic care.
Introduction of Voice-Based and Mobile Medical Alert Systems
• The PERS technology was first introduced with an in-home medical alert system, where older adults could only receive emergency help and protection within their homes through a landline-based phone. Since then, PERS firms have extended their product lines to incorporate cellular-based systems that require no phone lines. This led to the introduction of a new segment known as mPERS.
• With the push of a button, most commonly worn around one’s neck as a pendant or on one’s wrist as a bracelet, the user can connect with an emergency operator who can dispatch help to the user’s exact location; this is enabled by built-in GPS and Wi-Fi location detection. Some PERS products detect falls and trigger calls for support even when users’ cannot press the medical alert button
• mPERSs include various devices, from watches and pendants to mobile phones. The easy-to-use SOS button on these devices makes them unique and easy to use. Some mPERS devices also have fall detection capabilities that automatically trigger a call for help
High Adoption of Smartphone Applications Among the Geriatric Population
• Although older adults have a relatively lower rate of technology adoption than younger people, they are currently more digitally connected than five years before. A selected group of older adults who are more affluent and highly educated uses various smartphone technologies and e-health platforms.
• Mobile healthcare has advanced to providing health services to users through phone calls with healthcare experts. In the U.S., it is estimated that the percentage share of people 65 years and above are likely to double by 2050. According to the CDC, around 36 million falls are reported every year in the U.S. Out of 36 million falls, approximately 20% will cause broken bones, head injuries, or other trauma.
• According to AARP, older people have increasingly accepted smartphones, mHealth technologies, and wearable medical devices over the past five years. People among the elderly who are socially isolated or have chronic diseases are at risk of accidents and are prone to fall sick often. Thus, an active healthcare management sector is imperative in the U.S.
• Smartphone technologies can assist older adults in their daily lives. Software in the form of an application can turn smartphones into an effective PERS, which can be upgraded with additional application-based features, paired with a Bluetooth alert button, or eventually replaced with a newer model.
U.S. Personal Emergency Response Systems (PERS) Market Scenario
• The U.S. PERS market is expected to grow at a higher single-digit CAGR during the forecast period. The major factors propelling the market’s growth are increased awareness of PERSs in the country, the prevalence of chronic diseases, and the risk of fall injuries. Other factors such as the adoption of smart, wearable devices for monitoring health, the rise in the geriatric population living independently, favorable healthcare reforms, and financial assistance for older adults also contribute to the growth of the overall PERS market. However, the high cost of PERS and growing data breach concerns restrict the market’s growth.
• This rise in the adoption of smartphones has led to the growth of the market. The wearable health device industry has also grown in recent years, and this trend is anticipated to continue in the upcoming years. Furthermore, technological advances in wearables may help patients adopt medical systems in the future. With the rapid growth in the elderly population, there is a rise in the demand for medical alert systems. PERS are extensively adopted and used throughout most western countries. Consequently, with the help of PERS, the elderly can age in the comfort of their own homes, and therefore, this factor is expected to propel the market’s growth.
• The revolution brought by advanced technological platforms like the Internet of Things (IoT) and artificial intelligence has provided significant opportunities to the vendors in the U.S. Personal emergency response systems market. Especially, AI-driven PERS and predictive analytics help in automatic fall detection and wanderer control of users and provide timely notification to caregivers and healthcare professionals. The personal emergency response systems market is witnessing a trend with the new technology replacing the traditional medical alert systems. Mobile-based PERSs are likely to dominate the overall medical alert systems market as the penetration of smartphones is very high in the U.S. among older adults.
MARKET SEGMENTATION
The Mobile personal emergency response systems segment is the major revenue contributor and fastest-growing segment compared to in-home PER systems. Personal response systems are no longer used just within the boundaries of homes with constant advances in the mPERS technology. Depending on the design and monitoring options, one can obtain assistance on vacation, while running chores, or outside the primary residence. An mPERS ensures that users can always call for help from their medical alert system, whether at home or away. Mobile systems use GPS technology to pinpoint the user’s exact location and cellular technology to connect to a response center. In-home PER systems are for people who rarely leave the house. These systems are either connected to a landline or a cellular connection. They are majorly used by older people who are mostly bed-ridden or do not have an active life. Seniors, especially those above 80 years of age, will likely face more hurdles sustaining their independence. Reduced mobility and other factors due to aging make daily lives for older people difficult, and the dangers of not being able to get immediate medical help during emergencies are serious.
Among all end-users, the home care agencies segment accounted for a major share of around 31% in 2021 in the U.S. Homecare agencies are licensed businesses that employ caregivers to offer in-home care to the person requiring care. Homecare agencies can extend a senior’s ability to live independently and make aging in place a possible alternative during every stage of the aging process. Homecare agencies use PERSs to assist their patients better. PERS and GPS systems are widely used to prevent serious long-term effects of falls or medical emergencies. Fall injuries are common among the elderly population and patients with chronic diseases. However, the direct-to-consumer segment is likely to grow at a faster CAGR of around 10% during the forecast period. According to the United Nations Department of Economic and Social Affairs, the elderly population is expected to reach 80 million by 2040, which makes broader availability of target customers for PERS. Due to this, the U.S. encourages the development of dedicated home healthcare services to enable older adults to continue living in their homes, escalating the demand for medical alert systems in the country.
Segmentation by Type:
• Mobile Systems
• In-Home Systems
Segmentation by End-User
• Homecare Agencies
• Senior Living Centers
• Direct to Consumer
• Others
Key Vendors
• Connect America
• Medical Guardian
• VRI
Other Prominent Vendors
• ADT
• Alert One
• Aloe Care Health
• AT&T
• Cisco Systems
• Freeus
• HandsFree Health
• LifeFone Medical Alert Services
• MedGuard Alert Inc.
• MobileHelp
• Norton Control
• One Call Alert
• Lively
• QMedic
• ResponseNow
• Visonic
KEY QUESTIONS ANSWERED
1. HOW BIG IS THE U.S. PERSONAL EMERGENCY RESPONSE SYSTEMS MARKET?
2. WHAT IS THE GROWTH RATE OF THE U.S. PERSONAL EMERGENCY RESPONSE SYSTEMS MARKET?
3. WHO ARE THE LEADING VENDORS IN THE U.S. PERSONAL EMERGENCY RESPONSE SYSTEMS (PERS) MARKET?
4. WHAT ARE THE GROWTH FACTORS DRIVING THE US PERSONAL EMERGENCY RESPONSE SYSTEMS MARKET?
5. WHICH END-USER SEGMENTS HOLD THE LARGEST SHARE IN THE U.S. PERSONAL EMERGENCY RESPONSE SYSTEMS MARKET?
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Artificial Intelligence
Unlock an Exclusive Olympic Experience: Celebrating Live4Well’s Sold-Out Genesis NFT
HONG KONG, May 25, 2024 /PRNewswire/ — The buzz surrounding Live4Well’s successful Genesis NFT membership launch on May 23 has captivated both traditional and web3 communities. Combining the power of AI technology and decentralized physical infrastructure (DePin) concept, Live4Well has infused new life into the NFT market. The overwhelming response to their first NFT sales, showcases the project’s immense potential. Renowned web3 community leaders from Azuki, Bored Ape, Pudgy Penguins, WELL3, etc have joined forces with Live4Well, propelling the Genesis NFT membership collection to its resounding success.
Live4Well aims to transform the wellness industry by creating a reward-based infrastructure that connects global fitness data, enhances their AI database, and drives the development of sports and wellness. Backed by a multi-billion family office, which recently invested $20 million in Live4Well, the project has gained support in both web3 and traditional spaces. The team believes that every drop of sweat and effort toward better health should be rewarded, fostering motivation and integrating exercise into daily lives for enhanced well-being.
Live4Well’s announcement of an Olympic-themed raffle for Genesis NFT holders reflects their commitment to connecting wellness between Web2 and Web3 platforms. This testament to Live4Well’s demand and innovative vision solidifies their position as a promising leader in the industry. Their integration of the Olympic signifies their determination to inspire a global audience, leveraging blockchain technology to create an immersive ecosystem that revolutionizes how individuals engage with fitness on a daily basis for better health. Live4Well’s dedication to bridging the gap between traditional practices and the digital landscape sets them apart as pioneers in promoting well-being on a global scale.
What is Genesis NFT membership?
The Genesis NFT unlocks a multitude of benefits for holders, including the opportunity to cash out their sportive income and access a range of exclusive physical products and services. In addition to future airdrops and angel round whitelist privileges, Genesis holders will receive VIP tailor-made product packs from an innovative German sportswear company, elevating their exercise performance to new heights. With over 400 million sweat points farmed by their users, they are eager to redeem through the Genesis NFT membership. These enticing incentives explain why there was a widespread eagerness to participate in this thrilling event.
Unlike typical projects that raise funds before launching products or services, Live4Well has already released its AI-powered app, amassing over 250,000 users as a community base actively engaging in daily exercise. This early success has fostered a promising community within the wellness industry, as users trust Live4Well’s roadmap and collaborative ventures. The growing traction from both ordinary individuals and web3 enthusiasts has intensified the demand for redeeming and cashing out sweat points, the project’s exercise-based rewards. Obtaining the Genesis NFT membership is now seen as an essential step for accessing the highest tier of benefits and cashing out sportive income.
What’s next for Live4Well?
Following the Genesis sales, Live4Well’s team will shift their focus to the upcoming token generation event (TGE) and a series of farming events. They also have exciting plans for partnerships and other collaborations in the global wellness and fitness industries. If you missed the initial launch, be sure to stay updated on Live4Well’s journey and join this extraordinary revolution.
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Artificial Intelligence
Overseas Expansion Strategy of K-OTT Introduced in France, KOCCA holds the ‘2024 Korea-France Content Forum’
– The ‘Korea-France Content Forum’ held to establish the Foundation for K-OTT’s oversea expansion
PARIS, May 24, 2024 /PRNewswire/ — The Ministry of Culture, Sports and Tourism (Minister Yu In-chon) and the Korea Creative Content Agency (President, Jo Hyun-rae, hereafter KOCCA) held the ‘2024 Korea-France Content Forum’ on May 24th during the Korea Expo in Paris, France.
The ‘2024 Korea-France Content Forum’ featured a keynote session (K-OTT’s Strategies in Global market) presenting K-OTT’s strategies for international expansion and a roundtable session (Strategies in the Era of Streaming) discussing the growth of OTT platforms and collaborative approaches with production companies.
The forum featured participation from various industry leaders including Kun hee Park (CEO, Wavve Americas), Sangjin Lee (Head of content IP Business, LG U+), Seung ae Sohn (Executive Director, Showbox), Ji ae Sohn (Ambassador for Cultural Cooperation), Moonju Kim (General Director, France Business Center, KOCCA), Isabelle Degeorges (President, Gaumont Television France) which produced the French Netflix original series, participated.
Strategy announcement by Wavve Americas (KOCAWA), the first K-OTT’s launched in Europe
During the Keynote Session, Park Kun Hee – CEO of Wavve Americas, the first domestic OTT Platform to launch services in Europe, Took the stage to discuss the international expansion strategy of KOCOWA, which started offering services in 39 countries including Europe since April of this year. Following this, Lee Sangjin, Head of Content IP Business of LG U+, presented the expansion strategy of LG U+ Mobile TV, encompassing diverse original content.
During the round-table session, participants shared thoughts and solutions regarding the survival strategies of local OTT platforms and production companies amidst the rapid waves of change brought about by the emergence of global OTT platforms.
In particular, through this forum, we were able to observe the proactive implementation of IP protection policies by local production companies in France, aimed at sustainable content creation. Isabelle Degeorges, CEO of Gaumont Television France, noted, “With the introduction of the European Audiovisual Media Services Directive (AVMSD), platforms and production companies can share IPs three years after supplying the content.” Kim Moon-joo, Director of the Korea Creative Content Agency’s France Business Center, participated as a panelist, introducing policies aimed at enhancing the competitiveness of K-OTT and fostering collaboration with production companies.
Park Kun Hee, CEO of Wavve Americas, who participated in the event, stated, “It was a meaningful opportunity to introduce our platform locally in Europe in line with KOCOWA’s expansion into the region”. Additionally, Kyoungbon Koo, Director Broadcasting & Video Content Division at KOCCA commented, “It was a meaningful occasion to not only introduce K-OTT’s strategies to Europe but also to exchange ideas on collaboration between Korea and France. We will continue to focus on activating various forms of collaboration with major international partners in the future”.
KOCCA supports the overseas expansion of excellent domestic OTT content and platforms through the newly established Local OTT Specialized Support Program this year. This initiative aims to enhance the competitiveness of domestic OTT platforms and content by adapting to the changing industrial environment.
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Artificial Intelligence
IoT Node and Gateway Market worth $604.7 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 24, 2024 /PRNewswire/ — The IoT Node and Gateway market is projected to grow from USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the IoT Node and Gateway market is driven by the Provision of increased IP address space through IPv6, Emergence of 5G technology, and Increasing need for data centers.
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Browse in-depth TOC on “IoT Node and Gateway Market”
410 – Tables70 – Figures390 – Pages
IoT Node and Gateway Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 424.6 billion
Estimated Value by 2029
$ 604.7 billion
Growth Rate
Poised to grow at a CAGR of 7.3%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Hardware, End-use Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Requirement for wireless spectrum and licensed spectrum
Key Market Opportunities
Accelerated IoT adoption in healthcare sector
Key Market Drivers
Rising use of wireless smart sensors and networks
By Hardware, the Logic Devices are projected to grow at a high CAGR of IoT Node and Gateway market during the forecast period.
Logic devices can adapt to changing requirements even after deployment. As new features or functionalities are needed, the logic within the device can be reprogrammed to accommodate these changes, extending the useful life of the product and reducing the need for hardware revisions. The integration of FPGA technology into IoT devices further enhances these advantages. The integration of FPGAs into IoT nodes and gateways empowers manufacturers to develop highly optimized, customizable, and scalable solutions that meet the diverse needs of IoT applications. Tesla’s Full Self-Driving (FSD) computer utilizes FPGAs to handle complex neural network computations for autonomous driving algorithms. This allows them to potentially improve their FSD capabilities through software updates that reconfigure the logic within the FPGAs.
BFSI segment in IoT Node and Gateway Market is projected to grow at a highest CAGR during the forecast period.
BFSI sector can use IoT technology to provide more convenient solutions for customers. IoT can be used to perform data collection in real time and for instant communication between devices. For instance, it can facilitate cashless payments using an RFID scanner to identify products in the shopping cart and mobile wallet. The adoption of mobile point of sale (mPOS) systems and kiosks is fundamentally reshaping the landscape of the BFSI market. mPOS facilitates transactions anytime, anywhere, benefiting unbanked populations and enabling temporary service points for events. Kiosks offer convenient banking functionalities, reducing wait times and freeing up staff for complex inquiries. These technologies drive cost savings by requiring less investment and automating routine tasks, allowing resources to be reallocated strategically. They provide rich data for personalized services, fraud detection, and operational optimization. mPOS systems and kiosks promote financial inclusion by extending services to remote areas, fostering economic activity and well-being.
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North America accounts for the largest share in IoT Node and Gateway Industry.
The North American IoT market is poised to grow, driven by government efforts to transition cities into smart urban centers. The growing need for sophisticated IoT solutions, fueled by the widespread availability of high-speed data, will further propel market expansion in this region. Furthermore, North America’s dynamic IoT node and gateway ecosystem features established players like Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and Cisco Systems (US), driving competition, innovation, and affordability. Increasing research and development at industry levels is broadening the application areas of IoT in various industries, such as retail, consumer electronics, automotive and transportation, and healthcare, especially in the US. The increased demand for effective solutions and focus on early, accurate, and fast diagnosis of diseases has led to huge investments in technological developments in the healthcare sector.
Key Players
Key companies operating in the IoT Node and Gateway companies are Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Cisco Systems, Inc. (US), Hewlett Packard Enterprise Development LP (US), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Technologies (US), among others.
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IoT Technology Market by Node Component (Sensor, Memory Device, Connectivity IC, Processor, Logic Devices), Software Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography – Global Forecast to 2029
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About MarketsandMarkets™
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Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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