In a recent published report, Kenneth Research has updated the market report for Global Smart Helmet Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Smart Helmet Market products.
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Global Smart Helmet Market Overview
Smart helmets are autonomous and user friendly in nature. The helmet can be connected to internet to perform wide range of functions such as traffic monitoring, GPS guidelines, In-built headphones etc. Smart helmet contains flexible inner layer which becomes hard during an accidental situation along with this the device is designed to provide complete safety measures which includes sending an emergency message to friends and family in critical situations with a single press. Smart helmets are gaining popularity in various sports events as well as by bike riders across the globe. Smart helmets have multiple features such as engine control system, inbuilt cooling fan, inbuilt bluetooth system, accidental alert system, cell phone charging with the solar power use. These features are attracting the consumer’s interest towards the adoption of smart helmet technology, the product is designed to provide security, safety and comfort journey to the rider. Smart helmets for cycling is a basic workout monitor, measuring heart rate and calorie consumption. It connects via bluetooth to smart watches or apps to monitor the statistics.
The emerging trend of using sophisticated smart wearable for personal safety along with the rising concerns of consumers for road safety is expected to create a huge demand of smart helmets in the upcoming 5-6 years.
Market Size & Forecast
Global smart helmet market is anticipated to expand with a healthy compound annual growth rate over the forecast period owing to the growing personal safety concerns among the users. North America is anticipated to hold the largest consumer base for smart helmets followed by Europe owing to the strict government regulations for road side safety in the region. U.S is expected to be the dominant market for smart helmets in the North American region.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Asia Pacific is expected to be fastest growing region in smart helmet market owing to the large scale production of motorcycles along with the rising personal disposable income of consumers which will increase the affordability to buy such helmets in the region.
Key Players
Nand Logic Corp.
Forcite Helmet System Pvt. Ltd.
LifeBEAM Technologies Ltd.
360fly Inc.
FUSAR Technologies Inc.
DAQRI LLC
Sena Technologies Inc.
JARVISH Inc.
Jager HelmX Smart Helmets
BABAALI
Growth Drivers and Challenges
Increasing safety and security concerns along with the technological advancements in smart devices is 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 advanced safety devices across the globe.
Adoption of smart helmet technology in construction industry is positively driving the global smart helmet market. The helmets are featured with 3600 wireless camera, allowing a full view of worker surrounding. Key market players 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 construction industry over the forecast period.
Introduction of lighter weight smart helmets which are manufactured by advanced material combination of carbon fiber and fiberglass reinforced plastic and integration of electronics in helmets are major technological factors which are anticipated to propel the market growth over the forecast period i.e. 2017-2024.
High cost associated with the product, lack of awareness regarding smart helmets in developing countries is major factors that may hinder the growth of smart helmet market over the next few years.
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Market Segmentation
By Product
Full Helmet
Half Helmet
Smart Hard Hat (for construction workers)
By Accessories
Motorcycle Bluetooth communication system
Motorcycle Bluetooth HD cameras
By End User
Cycling
Motorcycling
Construction Sector
Industrial Sector
By Region
Global Smart Helmet Market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
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