Smart Helmet Market Projected to Deliver Greater Revenues during the Forecast Period until 2025
This market research report includes a detailed segmentation of the smart helmet market by product (Full Helmet, Half Helmet, and Others), by end-user (Automotive, Industrial, Firefighting, and Others), and by geography (North America, Europe, APAC, and RoW). The market research report identifies Bell Helmet, Daqri, Forcite Helmet Systems, FUSAR Technologies, Jarvish, LifeBEAM Technologies, LIVALL, LUMOS HELMET, Nand Logic, Nexsys, and Sena Technologies as the major vendors operating in the global smart helmet market.
Overview of the Global Smart Helmet Market
According to Kenneth Research, the global smart helmet market will grow at a rate over 15% during the forecast period 2019–2025 and will be valued more than $800 million by 2025. The market for smart helmet is driven by the increasing demand for remote access surveillance. Government organizations are implementing stringent rules associated with public safety considering increased number of fatal accidents. This is steering the growth of this market. However, lack of awareness about safety is hampering the market growth.
Helmets play a vital role in providing safety to individuals’ when using automobiles or working in a construction site. New age helmets are integrated with high-tech systems which is making them smart helmets. These helmets include built-in microphones, speakers, rear-facing cameras, head-up displays, and several other features. For instance, the Livall Bling BH60 has built-in LED strips providing riders more visibility as well as indicating the direction in which they will turn. The helmet also includes automatic SOS impact alerts based on fall detection. Furthermore, integration of microphones and bluetooth speakers allow for hands-free calling and playing music.
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The growing adoption of smart helmet in construction industries is having positive impact on the growth of industrial smart helmet market. However, high cost of smart helmet is affecting the growth of the global smart helmet market. The use of smart helmets is anticipated to grow further as there is an increase in spending on materials being used for manufacturing these helmets by enterprises.
According to the smart helmet market analysis, North America accounted for the largest share of the global smart helmet market in 2018. With the presence of the highest number of technology innovators and increasing adoption of smart helmets in adventure sports in this region is expected to dominate the market during the forecast period. The Asia Pacific region is expected to witness the fastest growth rate due to increasing initiatives and government regulation for public safety and security.
Smart Helmet Market Competitive Analysis and Key Vendors The report covers and analyzes the global smart helmet market. Major vendors across different verticals are increasingly developing products and investing in this market and as a result the smart helmet market is expected to grow at a good pace in the coming years. The key players in the smart helmet market are adopting various organic as well as inorganic growth strategies such as mergers & acquisitions, collaborations & partnerships, joint ventures, and few other strategies to gain competitive advantage in the market.
Few of the Key Vendors in the Smart Helmet Market:
• Bell Helmets • Daqri • Forcite Helmet Systems • Livall • FUSAR Technologies • Sena Technologies
These companies are integrating sensors, cameras, and associated hardwares in the smart helmets. There are numerous other vendors that have been studied based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D for analysis of the entire ecosystem.
Smart Helmet Market Segmentation By Product
• Full Helmet • Half Helmet • Others
Others segment include smart helmets for construction, firefighting, and adventure sports. This segment is expected to have a significat growth rate during the forecast period 2019–2025. Smart Helmet Market Segmentation By End-User
• Automotive • Industrial • Firefighting • Construction • Others
Automotive segment is estimated to hold the largest market share during the forecast period 2019–2025.
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Smart Helmet Market Benefits
The report provides an in-depth analysis of the smart helmet market. Factors such as increasing safety and security concerns and the advances in technology in smart devices is positively impacting the demand for smart helmets globally. Recent product launches indicate that this technology is approaching market readiness.
Smart helmets are also increasingly being adopted by cyclists for training, keeping track of calorie consumption as well as monitoring the heart rate. These helmets are also integrated with devices that are capable of connecting to smartphones via bluetooth, resulting in enhaced monitoring and analyzing the information in real-time. Growing awareness and inititatives by the government about road safety as well as implementation of next-gen technologies such as augmented reality (AR) are expected to positively influence the smart helmet market.
Wireless camera is among the devices that are integrated in smart helmets. This camera allows users to have a clear as well as all round viewing of the surrounding. Market players such as DAQRI are focused on designing construction specific helmets with collision detection systems to enhace the safety of the construction workers. Currently, several smart helmet players are offering technology integrated helmets that are being used in the areas including automotive, construction, firefighting, and adventure sports. The report discusses the market in terms of product, end-user, and regions. Further, the report provides details about the major challenges impacting the market growth.
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This post was originally published on Aerospace Industry