The global Smart Helmets Market size is projected to reach USD 1.2 billion by 2025, growing at a CAGR of 18.6% during the forecast period from 2019 to 2025, according to a new report by Million Insights. Increasing adoption of smart helmets across various applications such as construction, manufacturing, riding and adventure sports is a key factor to drive the market growth.
Smart helmets provide comfort, security and enhance safety. Rising adoption of smart wearable devices, road safety regulations and stringent workplace safety by governments across the globe coupled with increasing awareness about personal safety regulations is anticipated to drive the market growth in the near future.
Smart helmets comprise multiple sensors and perform various functions like air quality monitoring, temperature monitoring and heart rate monitoring. The sensors help to collect data in real-time and enable users to access data about navigation, environmental & health attributes and various interactions.
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Navigation feature plays an important role in smart helmets. It helps to get highly accurate navigation by several satellite networks like Global Positioning System (GPS), Galileo Positioning System, Indian Regional Navigation Satellite System (IRNSS), Navigation Satellite System (GLONASS), and BeiDou Navigation Satellite System.
Smart helmets also help to provide utility, communication and safety features by using microphones, built-in speakers, cooling fans, health monitoring sensors, solar chargers, and rear-facing cameras. In addition, manufacturers are engaged in developing lightweight helmets with high strength.
Growing adoption of new technologies such as Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) is expected to propel the demand for smart helmets. Factors like development of wireless communication, strict road safety norms, and growth in production of the motorcycle are anticipated to surge the smart helmet market growth in developing regions.
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Further key findings from the report suggest:
• Navigation segment is projected to have fastest growth over the forecast period due to rising adoption of smart helmet by bike riders for cross country and in-country navigation.
• Full face segment is estimated to grow at CAGR of more than 18.0% over the forecast period. This growth is attributed to rising adoption of full face helmet for superior safety by cycle commuters and motorcycle.
• Asia Pacific is projected to grow with fastest CAGR during the forecast period due to construction and industrial projects and increasing sales of two-wheelers.
• Consumer end-use is expected to have substantial growth during the forecast period due to rising adoption of smart helmets in Europe and North America. 2-wheelers are adopting these helmets to commute due to heavy traffic, which is expected to drive the market growth.
• The major players include in this market are Sena Technologies Inc.; Forcite Helmet System Pvt. Ltd.; Babaali; Fusar Technologies Inc.; Lifebeam Technologies Ltd.; 360fly Inc.; JagerHelmX Smart HelmetsDaqri LLC; Nand Logic Corp.; and Jarvish Inc.
Million Insights has segmented the global smart helmets market on the basis of type, component, end use and region:
Smart Helmet Type Outlook (Revenue, USD Million, 2017 – 2025)
• Full Face
• Half Face
• Hard Hat
Smart Helmet Component Outlook (Revenue, USD Million, 2017 – 2025)
• Communication
• Navigation
• Camera
• Others
Smart Helmet End Use Outlook (Revenue, USD Million, 2017 – 2025)
• Consumer
• Manufacturing
• Construction
• Others
Smart Helmet Regional Outlook (Revenue, USD Million, 2017 – 2025)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Middle East & Africa
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