SAN FRANCISCO, July 11, 2019 /PRNewswire/ -- The global smart helmet market size is expected to reach USD 1.20 billion by 2025, expanding at a CAGR of 18.6% from 2019 to 2025, according to a new study by Grand View Research, Inc. Rising popularity of the product in various applications such as riding, adventure sports, manufacturing, and construction is projected to drive the growth.
Key suggestions from the report:
- Navigation segment is expected to emerge as the fastest-growing segment over the forecast period owing to the increasing adoption of smart helmets by bike riders for in-country and cross-country navigation
- Full face segment is expected to expand at the highest CAGR of 18.8% over the forecast period. Increased adoption of full face smart helmets by motorcycle and cycle commuters due to superior safety features is expected to drive the growth
- Asia Pacific is anticipated to emerge as the fastest-growing regional market over the forecast period owing to the increasing sales of two-wheelers and rapidly growing industrial and construction projects
- Consumer end use segment is expected to gain traction over the forecast period owing to increasing adoption of smart helmets in developed regions such as North America and Europe. Due to increased road traffic, 2-wheelers are now being favored as the preferred mode of commute, which is expected to act as a major growth driver
- Key players operating in the smart helmets market include Nand Logic Corp.; Lifebeam Technologies Ltd.; Forcite Helmet System Pvt. Ltd.; Fusar Technologies Inc.; 360fly Inc.; Daqri LLC; Jarvish Inc.; Sena Technologies Inc.; Babaali; and Jager HelmX Smart Helmets
Read 120 page research report with TOC on "Smart Helmet Market Size, Share & Trends Analysis Report By Type (Full Face, Half Face, Hard Hat), By Component (Communication, Navigation, Camera), By End Use, By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/smart-helmet-market
These protective headgears provide users with enhanced safety, security, and comfort. The growing adoption of smart wearable technology, stringent workplace safety and road safety regulations laid down by governments, and increasing awareness for personal health and safety are expected to drive the demand for smart helmets over the forecast period.
Smart helmets consist of multiple sensors that perform functions such as heart rate monitoring, temperature monitoring, and air quality monitoring. The sensors collect data in real time to provide users with detailed information regarding various interactions, navigation, and environmental and health attributes.
Satellite aided navigation is one of the most vital features offered by smart helmets. It enables highly accurate navigation capability by using multiple satellite networks such as Global Navigation Satellite System (GLONASS), Global Positioning System (GPS), Galileo Positioning System, BeiDou Navigation Satellite System, and Indian Regional Navigation Satellite System (IRNSS).
Smart helmets are further capable of providing a wide range of other communication, utility, and safety features using built-in speakers, microphones, rear-facing cameras, cooling fans, solar chargers, and health monitoring sensors. Manufacturers are using materials that are light in weight and high in strength, such as fiberglass reinforced plastic and carbon fiber, for weight reduction and enhanced survivability.
Increasing adoption of next-generation technologies such as Augmented Reality (AR), Virtual Reality (VR), and Artificial Intelligence (AI) is anticipated to drive the development and adoption of smart helmets. Factors such as emerging road safety regulations, development of wireless communication infrastructure, large-scale production of motorcycles, and increasing disposable income are expected to drive the growth of smart helmets industry in emerging countries such as India, Brazil, and China.
Grand View Research has segmented the global smart helmets market based on 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)
- Smart Helmet End Use Outlook (Revenue, USD Million, 2017 - 2025)
- Smart Helmet Regional Outlook (Revenue, USD Million, 2017 - 2025)
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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