Pune, India, July 24, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global smart helmet market size was valued at USD 585.1 million in 2022 and is projected to grow from USD 672.2 million in 2023 to USD 1,560.3 million by 2028, exhibiting a CAGR of 18.3% during the forecast period. Growing Energy Consumption Concerns to Propel the Market Growth. Fortune Business Insights™ mentioned this in a report titled “Smart Helmet Market Forecast, 2023-2028”.
Smart helmets improve individuals' safety when using automobiles or working on construction sites. These helmets incorporate advanced features such as live streaming cameras, GPS, health monitoring (including skin temperature monitoring), map navigation, humidity, sensor data collection, air quality checks, and connectivity with other devices.
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Key Industry Developments:
Sena Technologies, Inc. launched a cycling helmet with smart communications technology, the R1 EVO. The R1 EVO incorporates the company’s Mesh Intercom communication technology and is equipped with integrated speakers, a microphone, and Bluetooth to connect with a smartphone.
Key Takeaways
- The market is experiencing significant growth due to concerns about safety and security, along with technological advancements in smart wearables.
- Rising Demand for Temperature Screening Solutions in Helmets amid COVID-19 Pandemic
- Technological Advancement in Wearable Devices is Trending in the Market
- By Technology Analysis: Integrated Communication System Segment Dominated the Market in 2022 due to its Voice Control Feature
- Increasing Smart City Projects to Drive the Market Growth
Discover the Leading Players Featured in the Report:
“Companies leading the Smart helmet market are Sena Technologies, Inc. (U.S.), DAQRI (U.S.), Forcite Helmet Systems Pty Ltd. (Australia), TVS Motor Company (India), Hedkayse (U.K.), MapmyIndia (India), Livall (China), Jarvish Inc. (Taiwan), Torc Helmets (U.S.), Lumos Helmet (China), Nexsys. Co., Ltd. (Korea), 360fly, Inc. (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2028 |
| Forecast Period 2022 to 2028 CAGR | 18.3% |
| 2028 Value Projection | USD 1,560.3 Million |
| Base Year | 2022 |
| Smart Helmet Market Size in 2022 | USD 585.1 Million |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 150 |
| Segments covered | Type, Technology, End-user and Geography |
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Drivers & Restraints
Severe Government Restrictions and Safety Regulations to Propel Market Growth
The demand is increasing for helmets to minimize the likelihood of severe head and brain trauma by force or head injury. The effectiveness of motorcycle helmets in reducing head trauma depends on the quality of the helmets. Expanded policy legislation to encourage the use of helmets for safeguards has also provided a range of incentives for helmet suppliers to produce advanced helmets.
High production cost linked with designing advanced helmets is the key factor impeding the smart helmet market growth. Furthermore, software and hardware compatibility issues are significant factors that hamper market growth.
SEGMENTATION
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 Type
- Others
By End-user
- Consumer
- Industrial
- Healthcare
- Construction
By Region
- North America
- Europe
- Middle East & Africa
- Asia Pacific
Regional Insights
North America to Hold the Dominant Share of the Market Owing to Growing Demand from Motorcycle Industry
North America is expected to dominate the smart helmet market share due to the rising demand from the motorcycle industry. Research and development activities undertaken by helmet manufacturers in the region to ensure road safety are estimated to drive market growth during the forecast period.
Europe is estimated to grow temperately during the projected period. The increasing demand is due to the rising awareness regarding personal safety and the growing adoption of advanced wearable technology.
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Competitive Landscape
Prominent Players to Develop their Product Offerings and Incorporate Partnership Strategies to Meet Ever-changing User Requirements
Major companies constantly strive to develop innovative products and grow their product portfolios, focusing on improving the efficiency of these helmets and increasing the customer experience. The new introduction of the product subsequently propels the market by offering new and improved solutions to meet customer needs and expectations.
FAQ’s
How big is the smart helmet market?
The smart helmet market size was USD 585.1 million in 2022.
How fast is the Smart helmet market growing?
The smart helmet market will exhibit a CAGR of 18.3% during the forecast period, 2023-2028
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