Smart Helmet Market

According to Stratistics MRC, the Global Smart Helmet Market is accounted for $544.17 million in 2022 and is expected to reach $1333.38 million by 2028 growing at a CAGR of 16.11% during the forecast period. A smart helmet is a type of protective headgear that includes cutting-edge technological features for added functionality and safety. It has cameras, communication systems, a display, lighting, a microphone, a speaker, and a number of sensors, including gyroscopes, accelerometers, and magnetometers. For motorcycling, bicycling, skiing, snowboarding, adventure sports, construction work, mining, and medical applications, smart helmets are frequently used. It is a reliable, useful, adaptable, and highly effective product that boosts security, lowers the chance of accidents, enhances the user experience, offers better connectivity, boosts overall productivity, and identifies potential health issues. An additional feature of a smart helmet is real-time data analysis and monitoring, which offers users insightful information and enables them to enhance performance and make necessary adjustments.

According to a study published by the Global Road Safety Report 2018, the number of traffic deaths increased to 1.35 million in 2016. Head injuries caused by road traffic accidents are also the leading cause of death for children and young adults aged 5–29 years. This has further elevated the need for a change in the national helmet policy.



Market Dynamics:

Driver:

Strict Government Regulations and Safety Standards to Promote Growth

Bicycles and motorcycles are less secure than cars in the event of an accident. The helmet's main objective is to reduce the risk of severe head and brain injury as a result of force or head injury. The last few years have seen a variety of regions and nations around the world implement policy changes aimed at reducing traffic accidents. By donning a motorcycle helmet, one can reduce their risk of dying and suffering serious injuries by over 70% and nearly 40%, respectively. The quality of motorcycle helmets is partly responsible for their effectiveness in reducing head injuries. To guarantee that helmets can reduce the risk of a head injury in the event of an accident, requirements for protection must be established for helmets.

Restraint:

Lack of awareness of smart helmets

The market for smart helmets has been growing over the past few years, but there is a lack of awareness of them in developing nations that could impede that growth. People weren't wearing helmets while driving, and there wasn't widespread awareness of their use in earlier times, which led to a high accident ratio. The reason why fewer motorcycle riders wear helmets is likely due to a lack of awareness of the benefits of wearing one for safety and lax enforcement of the law. Thus, there was a slight increase in the death rate.

Opportunity:

Increased Use of Motorcycles and Bicycles to Promote Adoption

Road traffic accidents are a significant threat to global public safety and the leading cause of death and disability. The WHO estimates that 1.2 million people per year die in traffic accidents, and millions more suffer injuries or disabilities. The use of helmets is anticipated to increase during the forecast period in many middle- and low-income countries where bicycles and motorcycles are common modes of transportation. Bicyclists and motorcycle riders are more likely to suffer injuries in collisions. This is primarily due to the fact that they frequently share the road with buses and fast-moving vehicles and are frequently less noticeable. Furthermore, the increased use of motorized two-wheelers is largely responsible for the increase in the number of cars on the world's roads. It is anticipated that there will be a significant increase in the number of motorized two-wheel vehicles on Asian highways, in particular.

Threat:

High price of these helmets will limit market expansion

The main factors limiting the growth of this market are the relatively high production costs linked to the design of the advanced helmets. These accessories, which are very expensive in comparison to other helmets, include night vision goggles, head-up displays, communication units, and video camera units. An additional impediment is the malfunctioning of a few inventions and the standards for routine replacement. Additionally, one of the main obstacles preventing important manufacturers and software developers from releasing effective solutions is a lack of hardware and software compatibility.

Covid-19 Impact:

Due to the restrictions and lockdowns that governments imposed on numerous industries to stop the virus' spread, the COVID-19 pandemic's outbreak had a negative impact on the smart helmet market. Due to the supply chain disruptions caused by this scenario, fewer smart helmets were sold during lockdowns. Furthermore, the demand for smart helmets among bike riders declined as a result of restrictions on human movement. Frontline employees, on the other hand, used smart helmets for temperature monitoring in a number of nations. The smart helmet features were useful during the COVID-19 pandemic, as the consumer, construction, and manufacturing sectors bounce back from the pandemic's negative effects, demand in the global smart helmet market is expected to rise.

The communications segment is expected to be the largest during the forecast period

In 2022, the communication segment dominated the market and accounted for more than 33.0% of total revenue. The Integration Communication System (ICS) is integrated into smart helmets, enabling voice commands to control all of the features and applications. The ability to perform several hands-free tasks, such as making calls and getting directions, through the smart helmet's microphone when users connect their phones to it helps the market grow.

The manufacturing segment is expected to have the highest CAGR during the forecast period

The manufacturing segment is anticipated to show the fastest growth over the forecast period. Wearers of intelligent helmets are protected in the manufacturing environment from a variety of physical dangers. Environmental hazards like suffocation, gas poisoning, and gas explosions could pose a threat to manufacturing workers. As a result, the manufacturing sector depends heavily on air quality and the detection of hazardous events. Hazardous gases such as LPG, CH4, and CO, among others, could be detected and monitored in real time by smart helmets. Humidity and temperature can also be detected. The demand for smart helmets in this market is being driven by the rising health concerns caused by exposure to hazardous gases in the manufacturing sector.

Region with highest share:

The smart helmet market was dominated by North America in 2022, which brought in more than 41.0% of the total revenue. The market in the United States is relatively developed, and consumers there are early adopters of new technologies. The improvement and expansion of their product lines is another area where smart helmet suppliers are focusing their efforts. For instance, Sena Technologies, Inc., a provider of communication technology, announced the launch of the Outrush R, a smart modular helmet, in North America. A more advanced version of the Outrush modular helmet is the thing in question. Such product launches and the prominent regional presence of key market participants aid in the expansion of the regional market.

Region with highest CAGR:

During the forecast period, the smart helmet market's Asia-Pacific region is anticipated to experience the fastest growth. Growing urbanization in developing nations like China and India, as well as the region's booming manufacturing sector, are likely to be significant development factors for the regional market. The market has benefited from rising consumer spending on protection systems for commuting as well as from an increase in the use of cutting-edge wearable technology by firefighters and construction workers.



Key players in the market

Some of the key players in Smart Helmet market include Babaali, Beijing BaBaALi Technology Co.Ltd, Bell Helmets, BELL SPORTS INC., Crosshelmet, TORC helmets, Daqri LLC, Forcite Helmet System Pvt. Ltd, Fusar Technologies Inc., H&H Sports Protection USA, Inc. (TORC), Intelligent Cranium Helmets LLC (ICH), Jager HelmX Smart Helmets., Jarvish Inc., Lifebeam Technologies Ltd, Livall Tech Co,Ltd., Lumos helmet, Nand Logic Corp, Nexsys. Co., Ltd., Qwake Tech Inc. and Sena Technologies, Inc.

Key Developments:

In June 2020, Sena Technologies, Inc., a consumer electronics company headquartered in California, United States, launched modular helmet, Outrush. The newly launched helmet is equipped with a Bluetooth communication system, Smartphone connectivity, and other features that provide superior experience to its user.

In April 2020, LIVALL, a leading manufacturer of helmet solutions, launched BH51M Neo, a smartphone connected cycling safety helmet for cyclists and outdoor enthusiasts. The newly launched BH51M Neo is a robust, waterproof smart head protector that incorporates different features such as hands-free operation, smart lighting, voice navigation, SOS alarm, fall detection, and more.

In May 2018, DAQRI, a leading helmet manufacturer, partnered with Ubimax GmbH, a VR and wearable manufacturer. The collaboration incorporates Ubimax's long-standing experience in enterprise product creation with DAQRI's technologically advanced AR smart glass hardware and gives consumers a greater ability to understand the importance of AR through various business processes.

Product Types Covered:
• Full-face
• Open-face
• Half-head
• Smart Hard Hat
• Other Product Types

Components Covered:
• Communication
• Navigation
• Camera
• Other Components

Technologies Covered:
• Integrated Communication System
• Integrated Video Camera
• Contactless Temperature Measurement
• Bluetooth Connectivity
• Turn Signal Indicators & Brake Function
• Signal Indicator and Brake Function
• Music Technology
• Other Technologies

End Users Covered:
• Consumer
• Industrial
• Healthcare
• Construction
• Manufacturing
• Snow/skate
• Cycling and Motor Cycling
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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