The size of the smart helmet market will be worth around US$1537.9 Mn by 2030

Precedence investigation

Precedence investigation

According to Precedence Research, the global smart helmet market size is anticipated to be worth around US$1537.9 million by 2030 and growing at a CAGR of 14.11% during the forecast period to 2022 to 2030.

Tokyo, June 16, 2022 (GLOBE NEWSWIRE) — The world Smart helmet market size was valued at $468.67 million in 2021. According to the World Health Organization, about 30 to 40 million people are injured, resulting in lifelong disability, and about 1.3 million people die worldwide due to traffic accidents. These accidents, as well as fatal injuries, can be reduced by up to 37% through the use of helmets. Increased sales of two-wheeled bicycles, particularly in growing economies, middle-class families, and increased protection provided to reduce deaths and injuries. There is demand for helmets. The growing demand for motorcycles and bicycles has led to an increase in the size of the smart helmet market.

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regional snapshot

North America has seen tremendous growth in smart helmets and it is expected to grow over the forecast period as the government and NGOs are starting camps to promote the usefulness of the helmet. The changing trends in the motorcycle industry, manufacturers in this region are also launching bikes at affordable prices, so this has also increased the sales of motorcycles. It also provides some opportunity for helmet manufacturers to expand the range of products they offer to meet the ever-changing demands of the market. Developing nations and middle class people are the consumers of motorcycles and bicycles. To ensure your safety and prevent fatalities, awareness of the use of smart helmets is important.

India is the largest economy in terms of two-wheeler adoption and has resulted in a significant share of this market. The European market is expected to grow at a moderate pace. The people of this region are aware of personal security and are embracing advanced variable technologies. In other countries in the Middle East or in Latin America, due to strict government policies, people are adopting smart helmets.

Scope of the Report

report attributes

Details

Market size in 2021

$468.87 million

Revenue forecast for 2030

$1,537.9 million

CAGR

14.11% from 2022 to 2030

base year

2021

forecast year

2022 to 2030

key players. main players

DAQRI, Sena Technologies Inc, Forcite Helmet Systems, Bell Sports Inc., TORC Helmets, Lumos Helmet

Report Featured

The size of the smart helmet market is expected to grow due to the various rules and regulations imposed by the government bodies. Governments and NGOs are raising awareness among the public about deaths or injuries caused by head injuries while riding a motorcycle or bicycle, thus this has increased sales of smart helmets. As smart helmets are easy to use, technologically advanced, provide GPS navigation, Bluetooth mobile phone connectivity and various other features, it is set to drive the market during the forecast.

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Market Ddynamic

drivers

Advanced helmets are lightweight and made from a combination of carbon fiber and fiberglass materials. Governments of all nations have set strict rules for safety standards. These rules and regulations are expected to drive the market. Failure to comply with these rules gives rise to the collection of a fine or imprisonment. So to avoid it, people are buying smart helmets. Most deaths following motorcycle accidents are due to a blow to the brain. In addition to safety reasons, there is an increased use of bicycles in many nations and this is also driving the market for smart helmets. Motorcycle and bicycle drivers are at high risk of being injured in a crash because they are almost always surrounded by speeding vehicles and buses. The Asian countries market is driving sales of smart helmets as there is an increase in sales of motorcycles or two-wheelers.

restrictions

The production cost of smart helmets is relatively high. So it happens to hamper the growth of the market. The cost increases due to the design of the advanced hulls. This is why smart helmets are incorporated with night vision goggles. They have head up screens, video camera units and communication channels. So all these technological advances in the helmet tend to increase the cost of manufacturing and in turn it becomes expensive. As these technological advances in smart helmets are new, there are also chances of errors and therefore replacement of such helmets is a hassle, so this also happens to be a restraining factor for the growth of the market. There are software and hardware compatibility issues, which are other factors restraining the growth of the smart helmet market.

Opportunities

Smart helmets are embedded with mounted sensors that collect data and information and assist the wearer while riding motorcycles or bicycles, so this is an opportunity for growth in this market. It also provides a GPS navigation system to help users, the helmet can be connected to the Internet to perform a wide range of functions, such as tracking traffic on the road, so these are all opportunities for the smart helmet market. . It is gaining popularity for various sporting events organized by cyclists around the world as it provides safety and a comfortable ride for the cyclist.

challenges

The challenges facing the smart helmet market are that to pack so many features into the compact helmet, there are space constraints. The setup cost of such helmets is also high.

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recent developments

  • The Next Gen Forcite MK1S Smart Helmet has built-in Harman Kardon speakers, this helmet features an ingenious roadside alert ecosystem where the rider is alerted to traffic conditions and speed trap navigation.

  • Sena Technologies Inc, which is a company based in California, launched a modular helmet that is equipped with a Bluetooth communication system, smartphone connectivity, providing a great experience to its user.

  • BH51M Neo A cycling safety helmet that connects to a smartphone was launched to buy LIVALL, a leading helmet manufacturer, has a waterproof helmet that has hands-free operation, Lightning voice navigation and SOS alarm.

Market segmentation

By Technology

  • Integrated video camera.

  • Integrated communication system

  • Bluetooth connectivity

  • contact list temperature measurement

  • Signal indicator and brake function.

By type

  • full face

  • uncovered face

  • half head

By end user

  • consumers

  • Health care

  • Industries

  • Building

By Geography

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