Proving the Business Case for the Internet of Things

PERS market to generate $1.46 billion in US in 2017: Frost & Sullivan

Iain Morris
November 19, 2014

The US market for personal emergency response systems (PERS) is set to generate revenues of $1.46 billion in 2017, up from $1.04 billion in 2013, according to new research from Frost & Sullivan.

A desire to live independently at home, without incurring heavy costs from long-term home care, is driving interest in the technology, according to the market-research company, which says that caregivers in the US are increasingly making use of PERS as a primary component of so-called “aging-in-place” technology.

Even so, PERS vendors will need to demonstrate there is a good return on investment to drive adoption of their technologies.

Successful companies will be those able to showcase value in higher service features as part of a PERS solution.

Sensor technology, fall detection features and mobile compatibility could all expand the value and demographic reach for users and create new opportunities for vendors targeting this market, says Frost & Sullivan.

“Different facets of technology and solutions can build an environment surrounding the elderly, which can be leveraged by members of care teams, caregivers, and family members, to enable the senior to live a fuller and healthier life as well as maintain independence,” said Daniel Ruppar, Frost & Sullivan’s healthcare research director.

“PERS as well as other components of remote monitoring address many needs of the elderly and will play a significant part in the overall evolution of telehealth products and services, especially within those solution areas directly targeting consumers,” he added.

PERS could eventually be integrated with broader consumer devices, smartwatches, connected homes and remote monitoring platforms as part of a more holistic solution to independent living, reckons Frost & Sullivan.

“The sustained evolution of PERS is important for ‘connected solutions’ and senior enablement,” said Ruppar. “In the long term, a technology-driven platform approach for seniors in their homes, fully cutting across consumer, wearable, and telehealth components, could bring higher value to the term aging independently than ever thought before.”
 
 
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