Global Smart Helmet Market Size, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Smart Helmet Market


The global Smart Helmet market size is projected to reach US$ 1457.76 million by 2026, from US$ 523.82 million in 2020, at a CAGR of 18.6% during 2021-2026. Smart helmets include multiple electronic devices and sensors that help users to gather real-time data and assist them in reducing operational risks and improving safety in the long run.

These helmets are rapidly gaining popularity among bicyclists and motorcyclists for enhanced security, safety, and comfort. They are also being widely used in various sporting events as well as for military and firefighting purposes. Factors such as stringent road safety regulations laid down by governments, growing adoption of advanced wearable technology, and awareness regarding personal safety are expected to drive the demand.

Increased focus on reducing the use of mobile phones while riding has created a major opportunity for the development and commercialization of innovative, feature-rich, and advanced smart helmets. Growing product adoption by bike riders coupled with increasing sales of motorbikes is anticipated to create significant growth opportunities for the market in near future.

Key market players are also actively focusing on product innovations and improvement strategies. For instance, companies are using impact detection sensors with carbon fiber and re-enforced fiberglass for weight reduction, enhanced connectivity, and real-time transfer of information.

Integration of video recording cameras and advanced sensors, such as optical heart-rate sensors and accelerometers, has enabled users to effectively monitor their vital statistics and surroundings. However, the high price of smart helmets, high investments in product research and development, concerns regarding vision distraction, and lack of awareness regarding the benefits and safety features are some of the major factors that may hinder growth of smart helmet market over the forecast period. To overcome these challenges, manufacturers are focusing on raising awareness about the functionalities of smart helmets through various forms of digital media.

Market Segmentation, Outlook & Viewpoint: Global Smart Helmet Market

Type Market Segmentation & Outlook (Revenue, USD Million, 2017 - 2025)

  
Full Face
  
Half Face
  
Hard Hat

Component Market Segmentation & Outlook (Revenue, USD Million, 2017 - 2025)

  
Communication
  
Navigation
  
Camera
  
Others

End Use Market Segmentation & Outlook (Revenue, USD Million, 2017 - 2025)

  
Consumer
  
Manufacturing
  
Construction
  
Others

Key Players, Recent Developments & Regional Insights: Global Smart Helmet Market

Based on end use, the market has been categorized into consumer, manufacturing, construction, and others. The consumer end use segment accounted for a significant market share in 2018 and is also expected to continue leading the market over the 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.

Smart helmets are also witnessing increased adoption by cyclists for monitoring workout, tracking calorie consumption, and measuring the heart rate. They have the capability of connecting to smartphones via Bluetooth to monitor and analyze the statistics. Rising awareness regarding road safety and adoption of next-generation technologies such as Augmented Reality (AR) in the manufacturing industry are expected to drive demand in end use verticals such as manufacturing, construction, and energy sectors over the forecast period.

Regional Insights

North America is currently leading the market on account of high disposable income, increased awareness, and stringent regulations. Safety standards such as the United States Department of Labor - Occupational Safety and Health Administration standards and Personal Protective Equipment (PPE) at work regulations are anticipated to further boost the growth. The U.S. and Europe markets are relatively mature and consumers in these regions tend to be the early adopters of emerging technologies. As a result, the regional markets are expected to witness higher product demand as well as hold major market shares.

Meanwhile, 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.

Smart Helmet Market Insights

Key market players include Nand Logic Corp.; Lifebeam Technologies Ltd.; Forcite Helmet System Pvt. Ltd.; Fusar Technologies Inc.; 360fly Inc.; Daqri LLC; Jarvish Inc.; Sena Technologies Inc.; Babaali; and Jager HelmX Smart Helmets.

Companies are focusing on enhancing the functionalities of smart helmets through product innovation, development of integrated communication, and navigation solutions in an attempt to meet customer expectations. The market is currently in the introduction phase and emerging players are concentrating on integrating multiple next-generation technologies such as Head-Up-Display (HUD), sensor integration, Augmented Reality (AR), and Internet of Things (IoT) to expand their product portfolio, customer base, and geographical presence.

Companies such as Sena Technologies Inc.; Fusar Technologies Inc.; and Daqri LLC have gained major market shares owing to their strong and innovative R&D capabilities. These companies mainly focus on product innovations and on the development of a well-established global network of partners in various countries such as U.S., India, China, and Brazil.

Key Insights Covered: Global Smart Helmet Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Smart Helmet industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Smart Helmet industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Smart Helmet industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Smart Helmet industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Smart Helmet industry.

Research Methodology: Global Smart Helmet Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other