The global smart helmet market size is projected to reach USD 1,134.9 million by 2027, exhibiting a CAGR of 13.8% during the forecast period. Heightened need for mass screening of people amid the COVID-19 pandemic is causing a growth spurt in this market, states Fortune Business Insights™ in its report, titled “Smart Helmet Market Size, Share & COVID-19 Impact Analysis, By Type (Full-face, Open-face, Half-head), By Technology (Integrated Communication System, Integrated Video Camera, Contactless Temperature Measurement, Bluetooth Connectivity, Signal Indicator and Brake Function, and Others), By End-user (Consumer, Industrial, Healthcare, and Construction), and Regional Forecast, 2020-2027”.
As per the report findings, the value of the market in 2019 stood at USD 401.4 million. The report also addresses the following questions:
- Which factors are positively influencing the size, share, and overall growth of the market?
- What are the hindrances restricting the smart helmet market growth?
- What are the key market segments and how have they been evaluated individually?
- What are the regional growth dynamics of the market?
- Who are the prominent players in the smart helmet market and what are their top strategies?
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List of Key Players for Smart Helmet market
- 360fly, Inc. (Canonsburg, United States)
- LUMOS HELMET (Kuala Lumpur, Malaysia)
- JARVISH INC. (Taipei, Taiwan)
- LIVALL (Shenzhen, China)
- DAQRI (California, United States)
- Co., Ltd. (Gyeonggi-do, Korea)
- TORC HELMETS (California, United States)
- BELL SPORTS INC. (Illinois , United States)
- Forcite Helmet Systems (Sydney, Australia)
- Sena Technologies, Inc. (California, United States)
Rising Number of Road Traffic Tragedies to Propel the Market
Rapid urbanization and poor traffic management are two of the most pronounced factors contributing to the growing number of road fatalities worldwide. According to the World Health Organization (WHO), road traffic accidents kill around 1.35 million people and cause temporary or permanent injuries in 20-50 million people every year. Moreover, majority of the road deaths reported globally are among motorcyclists, cyclists, and pedestrians, the WHO highlights in its report. Smart helmets offer higher safety quotient for two-wheeler riders as these devices are incorporated with advanced tools that make cyclists and motorcyclists more conspicuous on the road as well as enhance their awareness levels of the surrounding traffic. For instance, Livall’s Bling BH60 helmets have LED strips preinstalled in them, which can be controlled from the handlebars of cycles, making riders more visible on the road.
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Major Segments for Smart Helmet market
- Integrated Communication System
- Integrated Video Camera
- Bluetooth Connectivity
- Signal Indicator and Brake Function
- Others (Smart Navigation, Music System)
- North America (The U.S.Canada)
- Europe (The U.K., Germany, France, Russia,Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South East Asia,Rest of Asia Pacific)
- The Middle East & Africa (GCC, South Africa, Rest of the Middle East & Africa)
- Latin America (Mexico, Brazil, Rest of Latin America)
Greater Head Safety Awareness in North America to Fuel the Regional Market
In 2019, the market size of North America stood at USD 140.6 million owing to more widespread awareness in the region about the importance of wearing helmets while riding two-wheeled vehicles. The region is expected to continue its dominance of the smart helmet market share during the forecast period as manufacturers in the region are constantly developing and launching advanced head safety devices, which are being eagerly adopted by outdoor enthusiasts and motorcyclists.
The market in Asia Pacific is set to experience prolific growth as exponential growth in urban areas and rising affordability of two-wheelers, especially in India and China, is surging the sales of these helmets in the region. In Europe, the regional smart helmet market growth is anticipated to surge in the coming years as the demand for smart wearable devices steadily climbs.
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Table of Contents:
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
2. Executive Summary
3. Market Dynamics
3.1 Macro and Micro Economic Indicators
3.2 Drivers, Restraints, Opportunities and Trends
3.3 Impact of COVID-19
- Short-term Impact
- Long-term Impact
4. Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Market Share Analysis and Matrix, 2019
5. Key Market Insights and Analysis, By Segments
Introduction of Connected Head Protection Gear to Spur Competition
Key players in this market are increasingly focusing on introducing smart helmets integrated with connected technologies such as Bluetooth. The companies are driven by the motivation to provide a comprehensive and fulfilling on-road experience to riders.
- June 2020: Sena Technologies launched the “Outrush”, its maiden modular smart helmet, adding to the company’s already popular line of these helmets. The next-gen helmet will be embedded with a Bluetooth system, smartphone connectivity, adjustable sun visor, and can be used straight out of the box.
- January 2020: LIVALL debuted with its award-winning smart helmet, BH51M Neo, in the US at the 2020 International CES at Las Vegas. Featuring smartphone connectivity, the helmet is designed to meet the specific needs of e-motorcycle, e-scooter, and e-bike riders.
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KEY QUESTIONS ANSWERED:
- What is the smart helmet market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Medical Lighting Technologies Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest smart helmet market share?
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Name: Ashwin Arora
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