LogicMark Expands AI-Driven Safety Platform to Address Growing $147 Billion Market

Securing aging loved ones requires more than just wearable devices—it demands artificial intelligence-driven software capable of collecting, reading, and analyzing data within seconds. LogicMark Inc. offers its enhanced Software-as-a-Service model through the Caring Platform as a Service, a connected care platform that gathers and analyzes data from both LogicMark products and third-party partner devices to deliver critical insights and notifications. This system empowers patients and caregivers to communicate in real-time and respond to care needs promptly. Caregivers receive immediate alerts if a patient's device exits a preset location boundary or if a fall is detected, thanks to personalized patient monitoring. LogicMark asserts that its CPaaS platform leads the way in enabling a new level of remote monitoring, potentially helping older adults maintain greater independence.

LogicMark has extensive experience in developing groundbreaking artificial intelligence. The company, known for selling advanced wearable safety devices that support two-way calling and fall detection, also provides a powerful AI-driven platform designed to assist patients and caregivers in managing care at home and on the go. Hardware from LogicMark and other manufacturers serves as the data messenger, collecting real-time information from individuals and transmitting it to be analyzed by LogicMark's AI-enabled SaaS. This enables doctors and providers to deliver more personalized care during emergencies. For instance, the Care Village app allows caregivers to monitor fall status, device health, battery levels, and more. Care Village prioritizes user experience by facilitating scheduling across multiple devices and caregivers or family members. Moreover, because it operates over Wi-Fi and mobile networks, it ensures that loved ones are easily reachable.

LogicMark's new market approach not only promises an improved user experience but also positions the company to capture a larger share of the smart personal safety devices and software market, which is projected to exceed $147 billion by 2037. By offering an ecosystem of safety devices and SaaS, LogicMark aims to secure increased market share and revenue. The recurring revenue stream from its subscription-based Software-as-a-Service model provides predictable income, as SaaS offerings typically charge fixed rates. LogicMark targets various markets requiring personal remote monitoring, including government sectors such as Medicare or Veterans Health departments. The company emphasizes that success depends on building a hardware and services model for recurring billing, fostering strong customer relationships, and maximizing upselling and cross-selling opportunities. A recent collaboration with BlackKnight Medical, a Service-Disabled Veteran-Owned Small Business, exemplifies LogicMark's growth in governmental contracts. This partnership, announced in November, leverages BlackKnight Medical's expertise in medical supply distribution and government contracting to potentially enhance access to medical alert devices and SaaS for veterans nationwide. More details can be found at https://www.newmediawire.com.

LogicMark's Aster mobile app transforms smartphones into personal protection devices, ensuring safety around the clock and enabling contact with emergency services. With a simple push of a Bluetooth button, the system automatically contacts a monitoring service and calls the user's phone to provide support during vulnerable moments. Simultaneously, notifications and GPS locations are sent to followers, allowing users to receive help while loved ones get real-time updates. Aster is a subscription-based software application available on both Apple and Google Play stores. It pairs with the Aster Emergency button, a discreet companion device that ensures users can access help without opening their phones. Aster introduces LogicMark to a new addressable market under the personal safety umbrella, with the potential to generate multiple revenue streams. This app is just the beginning of what LogicMark can achieve with its SaaS approach. The company is leveraging the software technology behind Aster to develop other IoT solutions that protect user safety and enable monitoring by family, friends, and caregivers from any location. LogicMark's CEO highlighted in fourth-quarter results announcements that Aster demonstrates how the CPaaS model can be used to launch additional mobile and internet-of-things solutions. Protecting personal safety necessitates a comprehensive strategy that integrates smart devices with AI-driven software. LogicMark's transition to a SaaS model aims to provide superior protection while tapping into recurring revenue streams, ensuring long-term sustainability in a competitive landscape.