Welcome back, everyone. Next, we have LogicMark, Inc. It trades on the Nasdaq under the symbol LGMK and provides personal emergency response systems, healthcare communications devices, personal safety apps, services, and technologies to create a connected care platform. Happy to welcome its CEO, Ms. Chia-Lin Simmons. Nice to see you today.
Nice to see you, Anna. Thank you so much for the opportunity to speak with the audience. Good morning and good afternoon to everyone. We're really happy to be here and to share a little bit about what we do and the mission of our company. Very quickly, we are doing a very short introduction to the company, and we hope to sort of come back and share more about what we're doing. But who exactly is LogicMark, and who am I? LogicMark, we are in the business of what we used to call the old school I fall and I can't get up business, but we think that that business is really more than that. We're in the business of protecting people's personal experience of living life to the fullest, for all generations.
You know, I joined the company in June of 2021. My background is that I spent 28+ years in technology companies, from early-stage pre-seed all the way to public companies such as Audible, which I helped to sell to Amazon, as well as having worked at Google as an executive. So, really excited to be working at this company as CEO to basically help take this old-school type of personal safety business to the new sort of generation. What are we trying to address here, really? Well, really what we're trying to address here is that we're really, we think, in a world where there's a growing problem with personal safety and independence, and so technology is really not doing a good job solving these issues.
And LogicMark's business is that we're addressing this sort of question of personal safety and independence in two different ways, and the first is around this idea of personal safety. So today, personal safety fears are at a three-decade high, where 66% of, you know, adults in the United States avoid social and outdoor activities due to fear of personal crimes, and 53% of them are afraid to walk at night near, 53% of them are actually women, and 44% of them are afraid to walk within a 1-mile radius of their home. And so this is actually, this three-decade high is really shocking, right? And so, and it's actually produced a very large sort of, personal safety market space. About a $33.5 billion market by 2030, with a 12 point...
12.5% or 12.7% CAGR on this. So we're very much interested in providing personal safety and emergency outreach to people who are living in the situation where they are very fearful of doing activities outside: running, attending concerts, and so forth. The second piece here of the area that we're really addressing is the area of eldercare and independent living. We are living in a world today where 10,000 people are turning 65 daily, and so that by the time 2040 rolls around, one in four Americans will be 65+. What does that really look like in terms of personal safety and independent living?
That means that of that 65+ and older audience, one in four of them will fall, and if you don't get help within the first hour, their health outcomes are 80% worse. However, you know, while this is a very difficult sort of scenario, 90% of them actually want to age at home by themselves. This would be okay if it wasn't for the fact that at the same time that we're experiencing this explosion of a marketplace for the aging population, there is actually a very large caregiver gap to the tune of more than 355,000 people, and that's actually based on 2019 data itself.
And so we really believe that there's a great opportunity for a technology company to actually help supplement that gap and to basically bring more security and feeling of safety, and this idea of providing a safety net for people to live independently, both for this market of people who are independent, sort of, you know, college students and, you know, a real estate agent who's actually doing open house by themselves as a lone worker to actually your aging, you know, family members and the loved ones that you have that are aging at home. So how do we do that? We've really tried to reimagine what personal safety means in terms of interconnectivity and where it has been today. In the past, these devices don't tend to be very smart.
They don't tend to actually allow you to bring what we call the connected village of people with you. And so that means that today we are building technology not just for the aging population, so that they have devices where, you know, their six kids who are spread out all over every state can be connected to their family members. So in case that they fell, they can actually be notified, and they have 24/7 monitor service and 911 service at the touch of a finger. And that's actually, you know, a novel idea, where sometimes you just don't want to go to 911, and so you just really need to be able to connect to your family members easily with one button.
We're providing that connected village to that individual, but also providing that connected village to that college student who is going out jogging at night, and so they're not feeling very secure, and so they could have their friends, sorority sisters, Mom, and Dad follow them when they're doing a run. So if they don't check back in, they are actually well connected to family members who's checking in on them, as well as a 24/7 monitor service, U.S.-based, as well as 911 at the touch of their finger as well. And we all know how important that is, given some of the things that we've seen in the market, and in society today. And this idea of cloud connectivity and personalization is really important....
If you think about it today, these devices, they're, you know, the marketplace that we're in today and our competitors, they're not providing smart devices. And what do I mean by that? Neither are they personalized. And what do I mean by that? I mean that, in essence, these devices don't know if you push a button, or your aging parent's pushing a button, besides maybe a GPS location, what else is happening. So they can't really understand, for example, that maybe when the device goes off, a fall detection goes off, that, in fact, that wasn't a fall. It's just mom and dad actually being an active senior taking a yoga class, right? So our devices learn with you, and so we will check in. "Looks like you had a fall, Mrs. Becker." You know, "Well, no, I'm fine.
I'm doing yoga class." A similar sort of like activation happens on Thursday at 10:00. And so what it's learning is that on Tuesdays and Thursdays at 10:00, Mrs. Becker is doing a yoga class away from home, and so we know that this is a false positive. And so that we're constantly learning and adapting our AI-based cloud system to the needs of an aging senior like Mrs. Becker and making sure that she is safe and secure and getting the help that she needs. We also compare that data of her digital twin and say, you know, seniors who are actually moving less than 1,000 sort of steps, like Mrs. Becker, and maybe on Coumadin or this and that, you know, when we've seen them in our ecosystem of other digital twins, twins in aggregate, they, in fact, had a fall three-six months later.
And so rather than actually building a technology that is prevalent in the market today for personal safety, which is reactive technology, so how quickly can we get you help that you need within the hour, the Golden Hour, as the doctors call it, so that you could get better healthcare? We're actually trying to get to be predictive. Well, it means that we're personalized to you, we're learning about things, and we're trying to predict whether or not you may have an incident of a potential fall. And so all of this means nothing if we can't actually continuously be better. And so continuous updates, OTA, is part and parcel of the IoT world that we live in today, but is not part of that personal safety sort of ecosystem, typically. And so we actually provide continuous updates in the form of, you know, updated fall detection algorithms.
The more we learn about you, and the more we learn about what falls look like, we are able to push an updated AI-based algorithm for fall detection to you, as part of an update. So, again, something that we're used to having for our iPhones and for our cell phones, but not something that is part of that personal safety ecosystem in today's world. We do that by actually, as a company, providing a number of new innovative technology. In the three years I've been here, close to three years, we've filed 12 patents, six of which have gone to final publishing. Our product offerings today vary in pricing structure. We wanna make sure that everybody is covered, wherever they can, even if they're on a low and fixed income.
So we have our foundational products, that is one and done, as well as connect-to-cloud products that we've talked about with the new IP that actually helps to, you know, provide safety and security for your aging loved ones, to personal safety products for that, you know, college students going off to campus for the first time, or that lone worker who may be doing an open house or working at a construction site far away. And so you'll see us building continuously these new devices, but constantly now with a connected, personalized experience, all powered by AI and ML. So our revenue categories are diverse. We actually have a very robust device business with 67% margin.
We layer on top of that, services, recurring billing models, recurring billing on a monthly basis from our, you know, consumers who are licensing our 24/7 monitor service experience, our personalized experience, on a month-to-month basis. And so 67% margin on hardware, as well as recurring billing on a monthly basis. Our portfolio of licenses for fall detection and our algorithms are licensable to other hardware companies as well as other companies. As you can imagine, we have accessories for our hardware devices, as well as aggregate data that would be of interest to insurance companies and professional care providers as well. So we actually have multiple lines of revenue for the company. We are a standalone against competitors. We're the only public pure-play public, only publicly traded pure-play in this personal safety provider market.
We're proud to be having been in this market since 2007 as a company, and are excited to continue our history of innovation and actual technology building. So look forward to sharing more with all of you, in the next, you know, opportunity with growth capital. Thank you so much.
Great job. We do have a little bit of time with some questions for you. Let's see how many we can get through. Talk about your newest product, Aster. How will it expand your target market?
Yeah, absolutely. So in the past, since 2007, we have been in, again, the medical alerts business, the PERS units, as they call it, personal emergency response systems. Really, we take that mantra of personal emergency response systems very broadly. The technology infrastructure, this IP that we've discussed here, is extendable to not just the elderly aging market for medical alerts, but we see that as a potential to utilize the technology we've built to extend it to markets such as college students. It's very unfortunate that recently we saw a University of Georgia student who actually was attacked and was murdered. She was running. And so, you know, when we go back to this idea, you know, this idea that people are very concerned about their personal safety, we see ourselves building Aster to basically address this market.
The technology that we've built overlaps and serves this market just as well as it serves this aging population market. So we've actually built a form factor that's easy to use, you know, sort of software-based only. Literally, you don't even have to launch the app, so long as the phone is in your, you know, pocket, in a college student's backpack. You just have to push this button. And unlike other applications and services, where you have to launch the app in order to use it, who's gonna remember that as a college student coming from the library at 12:00 A.M., right? So we actually have the capability to basically help you get the help that you need in a time of emergency without having to fumble around with a campus security app, for example.
We're very excited to be extending our technology to that market.
Well, wonderful. Chia-Lin, I know this is the beginning of some future updates with us, so we're so happy that you got to join and give us a brief overview, and we're looking forward to some longer presentations in the next coming months.
Thank you so much, and we're excited to be here. Thank you for your time.
All right. You're so welcome. See you again soon. All right, everyone, we'll be right back with Patriot.