Artificial Intelligence
Smart Personal Safety and Security Device Market Size to Hit $7.45 B Mark by 2030 With a CAGR of 7.81% | Global Industry Analysis
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Houston, TX, April 07, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Smart Personal Safety And Security Device Market By Industry (Healthcare, BFSI, Defense, Telecommunication, And Consumer Electronics), By Product (Head Wear, Neck Wear, Wrist Wear, Finger Wear, And Others), By Technology (Positioning, Network Technology, Speech Recognition, And Sensor), By Type (Security Device And Safety Device), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Smart Personal Safety and Security Device Market size & share in terms of revenue was valued at USD 4.1 billion in 2022 and it is expected to surpass around USD 7.45 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.81% during the forecast period 2023 to 2030.”
What is Smart Personal Safety and Security Device? How big is the Smart Personal Safety and Security Device Industry?
Report Overview:
The global smart personal safety and security device market size was worth around USD 4.1 Billion in 2022 and is predicted to grow to around USD 7.45 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.81% between 2023 and 2030.
Smart personal safety and security devices are equipment meant for personal use by individuals that helps them stay safe from any incoming physical harm. These devices can be used to send alerts in case of an intruder attack or for other issues involving internal health in case of changes in body vitals. Personal alarms are portable devices that can send loud alerts when switched on or activated. It can prove to be extremely helpful in case a person is being attacked or in any other life-threatening emergency.
Home security systems include alarms, sensors, and cameras that protect the home of the owners from any external attack. Global positioning system (GPS) trackers send information, in real-time, about the exact physical location of the wearer. This can be very helpful to people who are responsible for taking care of another person who requires another person for physical safety, like senior citizens, people with health issues, or children. The smart personal safety and security device industry is expected to grow during the forecast period due to factors that are leading to increased awareness about the importance of safety.
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Global Smart Personal Safety and Security Device Market: Growth Factors
The global smart personal safety and security device market is anticipated to grow due to the increasing investments in research & development along with advancements in related technology. Over years, these devices have become relatively affordable with products being available in the commercial market across the price range. Furthermore, current devices are user-friendly and are meant for people from different age groups along with a rise in the overall accessibility of the products.
E-commerce has played a vital role in improving the accessibility index of smart devices. Growth in disposable income across the globe with the rise in dual-income families could be a major expansion supporting factor. Developed economies already have a dedicated consumer database whereas people from developing nations like India are willing to spend extra money on ensuring physical safety and security if the products show worthiness. The rise in the number of senior citizens of the geriatric population could assist in higher sales of the devices since they require extra assistance in managing daily activities. Factors like rapid urbanization and government support are also critical factors.
However, there could be certain roadblocks in terms of smart personal safety and security device industry growth. These issues are related to data or privacy concerns since such devices store the personal information of the wearer including medical history. With the increase in cybercrime and multiple reported incidents of data breaches, consumers are doubting the use of unnecessary smart gadgets unless absolutely mandatory. This especially is observed in case the information has to be shared with a third party. Lack of awareness and standardization are other restraints that could impede global market growth.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 4.1 billion |
| Projected Market Size in 2030 | USD 7.45 billion |
| CAGR Growth Rate | 7.81% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | 100Plus, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co., Ltd., Honeywell International Inc., Mammut Sports Group AG, Unaliwear Inc., DAQRI, Revolar., JARVISH INC., Safelet, General Electric, Force Impact Technologies L.L.C, KORE Wireless, and McDavid. |
| Key Segment | By Industry, By Product, By Technology, By Type, And By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Smart Personal Safety and Security Device Market: Segmentation Analysis
The global smart personal safety and security device market is segmented based on industry, product, technology, type, and region
Based on industry, the global market divisions are healthcare, BFSI, defense, telecommunication, and consumer electronics.
Based on the product, the global market segments are head wear, neck wear, wrist wear, finger wear, and others.
- The smart personal safety and security device industry registered the highest growth in the wrist wear segment and is projected to continue its dominance during the next years
- Most personal devices are portable and have a design that allows them to be worn on the wrist like a watch
- Some examples are Fitbit and Apple Watch which have become extremely popular amongst fitness enthusiasts along with senior citizens since it helps them keep track of body vitals
- Apple Watch Series 4 helped the company grow its segment review by 22% in 2018 after the launch
Based on technology, the global industry is segmented into position, network technology, speed recognition, and sensor.
Based on type, the smart personal safety and security device industry is segmented into security devices and safety devices.
- The year 2022 registered the highest CAGR in the safety device segment and may grow at a CAGR of 10.31% by 2030
- The major growth propellers are factors like constant innovation, product launches, research & development, and better production adoption
- The growing integration of advanced technology like artificial intelligence, speech recognition, and voice-related changes could help the segment during its growth phase
The global Smart Personal Safety and Security Device market is segmented as follows:
By Industry
- Healthcare
- BFSI
- Defense
- Telecommunication
- Consumer Electronics
By Product
- Head Wear
- Neck Wear
- Wrist Wear
- Finger Wear
- Others
By Technology
- Positioning
- Network Technology
- Speech Recognition
- Sensor
By Type
- Security Device
- Safety Device
Browse the full “Smart Personal Safety and Security Device Market By Industry (Healthcare, BFSI, Defense, Telecommunication, and Consumer Electronics), By Product (Head Wear, Neck Wear, Wrist Wear, Finger Wear, and Others), By Technology (Positioning, Network Technology, Speech Recognition, and Sensor), By Type (Security Device and Safety Device), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030”– Report at https://www.zionmarketresearch.com/report/smart-personal-safety-security-device-market
Competitive Landscape
Some of the main competitors dominating the global Smart Personal Safety and Security Device market include –
- 100Plus
- Telefonaktiebolaget LM Ericsson
- Huawei Technologies Co. Ltd.
- Honeywell International Inc.
- Mammut Sports Group AG
- Unaliwear Inc.
- DAQRI
- Revolar.
- JARVISH INC.
- Safelet
- General Electric
- Force Impact Technologies L.L.C
- KORE Wireless
- McDavid.
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Smart Personal Safety and Security Device market is likely to expand at a CAGR of around 7.81% during the forecast period (2023-2030).
- In terms of revenue, the Smart Personal Safety and Security Device market size was valued at around US$ 4.1 billion in 2022 and is projected to reach US$ 7.45 billion by 2030.
- Based on industry segmentation, healthcare was predicted to show maximum market share in the year 2022.
- Based on technology segmentation, network technology was the leading segment in 2022.
- Based on technology segmentation, network technology was the leading segment in 2022
- On the basis of region, North America was the leading revenue generator in 2022.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Smart Personal Safety and Security Device industry?
- What are the main driving factors propelling the Smart Personal Safety and Security Device Market forward?
- What are the leading companies in the Smart Personal Safety and Security Device Industry?
- What segments does the Smart Personal Safety and Security Device Market cover?
- How can I receive a free copy of the Smart Personal Safety and Security Device Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Industry, By Product, By Technology, By Type, And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
North America is anticipated to register the highest growth in the global smart personal safety and security device market mainly propelled by the presence of key market players along with an already existing massive consumer database. The rate of innovation and product launch is a critical factor for the regional response. Growth in Asia-Pacific is projected to be the result of a growing population with increasing disposable income and a rise in importance to personal security and safety. The growing crime rate has compelled more people to look for supportive assistance which they find with the use of advanced security devices. The European market is a lucrative market for home security equipment.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In November 2022, Teledyne FLIR announced the launch of a new range of high-functioning cameras called FLIR A700f and A500. The cameras can detect high temperatures and are coupled with alarm and on-camera analytics features
- In June 2022, Grestok entered the Indian market by launching the company’s smart security systems. The products include a standalone door security system, window security alarm kit, and other associated products
To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/smart-personal-safety-security-device-market
FREQUENTLY ASKED QUESTIONS
- What is smart personal safety and security device?
- Which key factors will influence smart personal safety and security device market growth over 2023-2030?
- What will be the value of the smart personal safety and security device market during 2023-2030?
- What will be the CAGR value of the smart personal safety and security device market during 2023-2030?
- Which region will contribute notably towards the smart personal safety and security device market value?
- Which are the major players leveraging the smart personal safety and security device market growth?
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Artificial Intelligence
CoreWeave Invests £1 Billion in UK; Opens New European Headquarters and Data Centres in London to Bring Cloud Infrastructure to Power the AI Revolution
LONDON, May 10, 2024 /PRNewswire/ — CoreWeave, the leading specialized cloud provider for AI, today announced that it has opened an office in London as its European headquarters as part of a broader expansion into the continent. The new UK expansion represents a £1 billion investment to bolster the country’s AI potential, and will create job opportunities across engineering, operations, finance and go-to-market. CoreWeave plans to open two UK data centres in 2024 with further expansion planned in 2025.
“We are seeing unprecedented demand for AI infrastructure and London is an important AI hub that we are investing in. Expanding our physical footprint in the UK is an important milestone in the next phase of CoreWeave’s growth,” said Mike Intrator, Cofounder and Chief Executive Officer, CoreWeave. “CoreWeave’s infrastructure will fill a void in the cloud market by providing AI enterprises with localized high-performance compute solutions that will help build and deploy the next generation of AI applications.”
Prime Minister Rishi Sunak said: “Companies like CoreWeave are powering the future of AI innovation, and I am proud that they’ve backed the UK with a £1 billion investment into UK data centres and have established their European headquarters here – further cementing the UK’s position as an AI and tech superpower.
“We’re leaving no stone unturned to make the UK the best place for pioneering companies like CoreWeave to grow their roots. With the third highest number of AI companies and private investment in AI in the world, it’s clear our plan is working.”
Secretary of State of Science, Innovation, and Technology, Michelle Donelan said: “CoreWeave’s decision to base their European HQ here in London is not just a sign of our tech investment prowess, it is a resounding vote of confidence in our approach to AI and innovation. Today’s £1 billion investment will bring two new data centres to our shores, a vital tool in helping to develop the AI breakthroughs of tomorrow.
“It will also lead to new, highly paid jobs and countless opportunities for our brightest AI minds and start-ups as the UK continues to cement its global AI powerhouse credentials. Our message is clear – when it comes to investment, scaling-up, and innovation, the UK is the perfect home from home.”
CoreWeave’s new European headquarters in London is strategically located given the tremendous AI talent in the UK. The investment in the UK builds on the UK government’s established leadership fostering global awareness and engagement on responsible AI and the country’s commitment to drive investment with plans to upskill millions across the UK in AI. CoreWeave’s presence in the region will support the continued expansion of AI labs and enterprise customers across the UK, bringing much needed computing power to the UK.
CoreWeave’s existing data centres support some of the largest deployments of high-performance GPU clusters in the world, and the infrastructure through which those clusters are consumed is designed with engineers and innovators in mind. Trusted by leading AI labs and enterprises, CoreWeave Cloud manages complexity through automation to deliver the most performant and efficient cloud infrastructure for AI workloads.
About CoreWeave
CoreWeave is a specialized GPU cloud provider, designed to power the most complex workloads with customized solutions at scale. The company’s portfolio of cutting-edge technology delivers a broad range of capabilities for machine learning and AI, graphics and rendering, life sciences, real-time streaming, and more. Its world-class teams, talent, and engineering prowess bring unmatched speed-to-market for advanced compute. CoreWeave operates a growing footprint of data centers covering every region of the US. It was founded in 2017 and is based in New Jersey. Learn more at www.coreweave.com.
Contact
Jackson [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/coreweave-invests-1-billion-in-uk-opens-new-european-headquarters-and-data-centres-in-london-to-bring-cloud-infrastructure-to-power-the-ai-revolution-302141883.html
Artificial Intelligence
Linnovate Partners Announces Close of USD 40 Million Funding Commitment Led by SeaTown
SINGAPORE, May 10, 2024 /PRNewswire/ — Linnovate Partners (“Linnovate”), a leader in asset servicing and fintech for the alternative investment industry, is pleased to announce the successful closure of USD 40 million funding commitment by SeaTown Private Capital Master Fund. SeaTown Private Capital Master Fund is managed by SeaTown Holdings International Pte. Ltd. (“SeaTown”), a leading Asia-focused alternative investments firm that is owned by Seviora, Temasek’s asset management group. This capital infusion marks a pivotal moment in Linnovate’s journey, enabling the firm to scale operations, drive innovation, and further solidify its position as a market leader.
As Linnovate continues to experience rapid growth and increasing demand for its tech-enabled services, the infusion of funds will play a vital role in meeting client requirements and advancing market innovation. The investment will enable Linnovate to allocate additional resources strategically, ensuring the company remains at the forefront of technology advancements and maintains its commitment to delivering exceptional solutions to clients worldwide.
Henry Lin, founder and CEO of Linnovate Partners, expressed enthusiasm about the opportunities this investment opens “We are thrilled to have SeaTown as our strategic partner and investor. This investment will be instrumental in accelerating our growth trajectory, providing us with the necessary resources to enhance our service offering, and continue delivering cutting-edge solutions to our clients and the industry itself.”
Dickson Loo, Managing Director of SeaTown, commented, “Linnovate has established itself to be an industry-leading player with their highly differentiated culture of customer centricity and strong technology focus. We are excited to be part of the next phase of Linnovate’s growth story, as we leverage our network, resources and expertise to help the company scale to greater heights”.
Linnovate has built a strong reputation for its innovative approach to solving manual mid-to-back-office tasks involved in fund administration through tech-enabled services. The company’s commitment to pushing the boundaries of technological advancement has earned it the trust of numerous high-profile private equity and venture capital firm clients and established it as a sought-after partner in the industry.
About Linnovate PartnersLinnovate Partners is a leading asset services provider focused on driving innovation in the alternative investments industry. With expertise across the entire fund lifecycle, Linnovate Partners goes beyond traditional fund administration to provide value-added services and technologies that empower asset and fund managers to excel in their operations. Its six core service areas include Fund Administration, Investor Relations, Regulatory Compliance, Portfolio Monitoring, Reporting Services and Technology Consulting Services.
Powering these services is a proprietary, cloud-based platform, RAISE, that provides all the functions of alternative investing in a single ecosystem and enables seamless integration and accessibility.
With offices globally, Linnovate Partners currently administers over $130 billion in assets across more than 600 private equity and venture capital funds. As an innovation-focused disruptor, Linnovate Partners combines deep industry expertise and the latest technologies to drive better outcomes for alternative investment managers and investors worldwide.
About SeaTown:Founded and headquartered in Singapore since 2009, SeaTown is a leading Asia-focused alternative investments firm with deep expertise across private and public markets.
Owned by Seviora, Temasek’s asset management group, SeaTown is a trusted steward of capital, investing alongside its investors in conviction-driven strategies. Its alternative investment fund platform offers international investors exposure to highly specialised private equity, private credit, and thematic absolute return opportunities in the region.
As a partner, SeaTown strives to deliver compelling risk-adjusted returns by leveraging its extensive relationship network, decades of investing experience and astute global perspectives.
For additional information, inquiries, or interview schedule, please contact:Linnovate Partners:Andrea [email protected]
SeaTown:Kayla [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/linnovate-partners-announces-close-of-usd-40-million-funding-commitment-led-by-seatown-302141238.html
Artificial Intelligence
FinVolution to Hold 9th Global Data Science Competition, Focus on Deepfake Speech Detection in LLM era
The 9th FinVolution Global Data Science Competition targets deepfake speech detection, tackling the challenge of distinguishing between cloned and authentic voices in the LLM era.The contest is part of the IJCAI 2024 Competitions and Challenges track, encouraging global collaboration and innovation among AI enthusiasts.By integrating LLM-generated fake voices in the test dataset, the competition increases complexity and spurs innovation.SHANGHAI, May 10, 2024 /PRNewswire/ — FinVolution, a leading fintech service provider, launches the 9th FinVolution Global Data Science Competition today, with a focus on “Deepfake Speech Detection.” The contest is part of the IJCAI (International Joint Conference on Artificial Intelligence) Competitions and Challenges track, a top international AI conference.
As voice synthesis technology continues to evolve, the line between cloned and genuine voices has become increasingly blurred in the era of large language models (LLMs), posing significant challenges to data security and asset protection.
The competition aims to inspire global AI enthusiasts and experts to innovate in combating voice cloning and deepfake scams. Contestants will utilize deep learning technologies to develop models and algorithms based on FinVolution’s test dataset. The competition will include LLM-generated fake voices to elevate complexity and spur innovation.
With a total prize pool of RMB 310,000, the contest will consist of preliminaries, semifinals, and a final, with an aim to authenticate true and false voices. Highest-ranked contestants will attend IJCAI 2024 in Jeju of South Korea, to receive the awards and engage with academic and industry experts. FinVolution proudly sponsors IJCAI 2024.
Tiezheng Li, CEO of FinVolution, stated, “Since its inception nine years ago, the FinVolution Global Data Science Competition has evolved into a widely recognized event in the field of data technology, facilitating technical exchange worldwide. Partnering with IJCAI this year, a top-tier international AI conference, demonstrates our commitment to advancing deep speech recognition technology.”
The Deepfake Challenge
During the preliminaries (May 10 to June 12), participants will design algorithms based on the white-box dataset supplied by FinVolution and submit scoring results to qualify for the semifinals. The dataset primarily comprises voice recordings totaling 20-40 hours.
At the semifinal stage (June 13 to June 28), contenders are expected to refine their algorithms based on the black-box dataset provided by the competition organizer, vying for a spot in the final. The dataset, composed mainly of private data, contains five to 10 hours of recordings.
Participants can register on the official website from May 9 to June 3, to download and view the datasets.
Upholding AI Ethics
Voice cloning has emerged as a major form of telecom fraud, as scammers exploit AI technology to make distinction between genuine and fake voices increasingly tricky.
The competition focuses on safeguarding user privacy and combating fraudulent activities by identifying cloned voices accurately.
Lei Chen, Vice President of FinVolution and Head of its Big Data and AI Division, said, “The applications of Large Language Models far exceed the corresponding detection technology, posing great challenges to information security. We hope to see AI deepfake voice detection technology keep pace with the developments of LLMs, thus safeguarding the data security of the public. With this concept in mind, the FinVolution Global Data Science Competition is not only a platform for technical competition but also an opportunity to explore how AI can better adhere to ethical principles and serve the public.”
To date, the FinVolution Global Data Science Competition has drawn nearly 10,000 participants globally in total, becoming a widely recognized event in the field of digital financial technology.
Organized annually since 2016, the contest themes have spanned diverse domains, all rooted in real-world fintech business scenarios. These themes range from risk control algorithms, financial data applications, and product development to semantic similarity recognition, asset portfolio cash flow prediction, and credit schemes for small- and micro-sized enterprises.
About FinVolution Group
FinVolution Group is a leading fintech company that connects millions of consumers as well as micro- and small-sized enterprises with financial institutions.
Founded in 2007 and listed on the New York Stock Exchange in 2017, we have been at the forefront of the pan-Asian credit technology industry, pioneering innovative technologies in credit risk assessment, fraud detection, big data, and artificial intelligence. With a proven track record of robust growth in pan-Asian countries, we have established leading fintech platforms in China, Indonesia, and the Philippines.
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View original content:https://www.prnewswire.co.uk/news-releases/finvolution-to-hold-9th-global-data-science-competition-focus-on-deepfake-speech-detection-in-llm-era-302141074.html
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