Global Smart Helmet Market was valued US$ 441.67 Mn in 2019 and is expected to reach US$ 1,825.92 Mn by 2027 at a CAGR of 19.41 % over the forecast period 2020-2027.
Global Smart Helmet Market Dynamics:
Smart helmets are equipped with sensors and additional mounted devices such as GPS guidelines, in-built headphones that collect data and information as well as assist users. Smart helmets are increasingly being used by motorcyclists and bicyclists, apart from their use by industrial workers and fire-fighters.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Increasing safety and security concerns along with the technological advancements in smart devices are strengthening the demand for smart helmets across the globe. It has been notified that motorcycles are considered as an economical convenience of mobility and head injury is the primary cause of death in motorcyclists. Increasing production of motorcycles coupled with the rising figures of accidental death by head injuries will further propel the demand for smart helmet market across the globe.
High cost associated with the product& lack of awareness regarding smart helmets in developing countries are major factors that may hinder the growth of smart helmet market over the next few years.
Global Smart Helmet Market Segmentation Analysis:
By types, the market is classified into full helmet, half helmet. The full helmet held 55% market share in 2019 and is expected to keep its dominance over forecast period on account of increasing penetration and adoption of smart helmets by bike riders. Additionally, increasing use of the product in adventure sports is expected to drive their adoption over the forecast period.
By end user, the consumer end user segment expected to hold 35% market share over forecast period owing to growing safety concerns coupled with rising sales of 2-wheelers. Smart helmet is an effective safety technology that helps enhance situational awareness and road safety. In the consumer segment, smart helmets are rapidly gaining popularity mainly due to the product features such as integrated communication systems, real-time navigation, and enhanced safety. Consumer end use segment is followed by Construction. Adoption of smart helmet technology in the construction industry is boosting the global smart helmet market. The helmets are featured with 360 degrees wireless camera, allowing a full view of worker surrounding.
Global Smart Helmet Market Regional Analysis:
By geography, market is segmented into North America, Europe, APAC, MEA& Africa and Latin America. North America is leading the global market with xx% market share over forecast period as they are fast in the adoption of technology. Increased awareness, safety standards such as Occupational Safety and Health Administration standards and Personal Protective Equipment (PPE) at work regulations of U.S. government are boosting the growth of market over forecast period. North America is followed by Europe and APAC.
Europe is expected to exhibit xx% market share over forecast period due to the early adopters of emerging technologies in this region.
On the other hand, Asia Pacific is expected to emerge as the fastest-growing regional market for smart helmets over the forecast period. Increasing sales of two-wheelers, rapid urbanization in developing economics such as India and China and growing manufacturing sector in the region are expected to be the major growth drivers for the regional market.
Global Smart Helmet Market Competitive Landscape
Report covers key development and company profiles of major key players. Some of the key players are Babaali, Bell Helmets, DAQRI and Forcite Helmet Systems. These key players are adopting various inorganic and inorganic growth strategies such as expansion, new product launches, merger and acquisition, patent, joint ventures etc. to increase their regional presence and business operations. Key market player such as DAQRI are focused on designing construction wearable featured with geo-fencing and collision detection systems; this will boost the demand for smart helmets in the construction industry over the forecast period.
The objective of the report is to present a comprehensive analysis of Global Smart Helmet Market including all the stakeholders of the industry.The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Smart Helmet Market dynamics, structure by analyzing the market segments and project the Global Smart Helmet Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Smart Helmet Market make the report investor’s guide.
Scope of Global Smart Helmet Market
Global Smart Helmet Market, By Type
- Full helmet
- Half Helmet
Global Smart Helmet Market, By Application
- Motorcycling
- Cycling
- Snow/Skate
Global Smart Helmet Market, By Technology
- Integrated Video Camera
- Bluetooth Intercom Technology
- Turn Signal Indicators & Brake Function
- Music Technology
Global Smart Helmet Market, By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Key players operating in Global Smart Helmet Market
- Babaali
- Bell Helmets
- DAQRI
- Forcite Helmet Systems
- Livall Tech Co,Ltd.
- LUMOS HELMET
- Nand Logic
- Nexsys
- Sena Technologies
- Lifebeam Technologies Ltd.
- 360fly Inc.
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