The Global Smart Helmet Market size is expected to reach $1.8 billion by 2029, rising at a market growth of 17.2% CAGR during the forecast period.
Consumers are the major end-users of smart helmets due to the rising sales of two-wheelers and the increased safety concerns. Thus, consumers captured approximately 72% share of the market in 2022. The main cause of impairment and fatalities worldwide, road traffic accidents represent a serious public safety concern. The World Health Organization (WHO) estimates that 1.3 million people die from traffic-related causes each year, and many more suffer injuries or disabilities. The biggest cause of mortality for young adults and children aged 5 to 29 is head injuries resulting from traffic accidents. This has made a modification in the country's helmet policy even more necessary. Governments worldwide are mandating the use of helmets due to the increasing number of traffic accidents. Some of the factors impacting the market are technological developments and innovations in smart helmets, rising use of motorcycles and bicycles to promote adoption, and issues with the usage of smart helmets.
In order to create cutting-edge goods and increase their product portfolios, smart helmet technology companies are investing heavily in R&D operations. The efficiency of the product is being specifically improved, as are customer experiences, with the launch of new products. Sensors and other attached instruments that collect information and help people are built into smart helmets. These helmets have video cameras as well as GPS navigational aids for user assistance. The increased use of motorized two-wheelers is largely responsible for the increase in the number of cars on the world's roadways. It is anticipated that there will be a significant increase in the number of motorized two-wheel vehicles on country roadways in particular.
However, integrating technology in smart helmets can sometimes affect their weight, size, or overall comfort. It may discourage adoption if users find them uncomfortable to wear for extended periods. They may have compatibility issues with other devices or systems. As a result, it can limit their functionality and appeal to potential users if they cannot easily integrate with popular devices, such as smartphones or bike-sharing systems.
Based on type, the market is characterized into full face, half face, and hard hat. The hard hat segment procured a considerable growth rate in the market in 2022. Due to the rising demand for hard hats in the mining, construction, and manufacturing industries, the hard hat segment is also anticipated to experience considerable expansion in the coming years. Construction industry accidents happen frequently, and occupational injuries are a problem that affects the entire world. In these sectors, smart hard hats are used to spot dangerous gas leaks, track locations in real-time, and assess users' health parameters. Therefore, the growth of the segment is being driven by the goal of enhancing worker safety in hazardous areas.
On the basis of component, the market is classified into communication, navigation, camera, and others (audio systems, health monitoring, lighting, and safety features). The communication segment acquired the largest revenue share in the market in 2022. Smart helmets come equipped with the Integration Communication System (ICS), which enables the bike rider to voice-command all of the devices' features and functionalities. In addition, users who link their smartphones to the smart helmet may use the microphone on the device to make calls and ask for directions, among other hands-free tasks, which is helping the segment expand.
By end-use, the market is divided into consumer, manufacturing, construction, and others (healthcare, mining, and disaster prevention). The consumer segment witnessed the maximum revenue share in the market in 2022. Bikers all over the world utilize smart helmets in a variety of sporting events. They come with a variety of functions, including an accidental alert system, an integrated Bluetooth system, as well as a solar-powered mobile phone charging system. Consumer interest in adopting smart helmet technology is being stoked by these benefits, which is propelling the segment's expansion.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 613 Million |
| Market size forecast in 2029 | USD 1.8 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2029 |
| Revenue Growth Rate | CAGR of 17.2% from 2023 to 2029 |
| Number of Pages | 187 |
| Number of Table | 369 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Component, End-use, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment procured the highest revenue share in the market in 2022. The American customer is an early adopter of new technologies, and the American market is comparatively developed. Additionally, manufacturers are concentrating on expanding and improving their product lines in this market. The regional market is expanding as a result of such product releases and key market players' substantial regional presence.
Free Valuable Insights: Global Smart Helmet Market size to reach USD 1.8 Billion by 2029
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Borderless Incorporated (CrossHelmet), Vista Outdoor, Inc. (Bell Helmets), Forcite Helmet Systems Pty Ltd., Intelligent Cranium Helmets LLC, JARVISH, Inc., LIVALL Tech Co., Ltd., H&H Sports Protection USA, Inc., Sena Technologies, Inc. (Kakao Games Corp.), and Lumen Labs (HK) Ltd.
By End-use
By Type
By Component
By Geography
The Market size is projected to reach USD 1.8 billion by 2029.
Technological developments and innovations in smart helmets are driving the Market in coming years, however, Issues with the usage of smart helmets restraints the growth of the Market.
Borderless Incorporated (CrossHelmet), Vista Outdoor, Inc. (Bell Helmets), Forcite Helmet Systems Pty Ltd., Intelligent Cranium Helmets LLC, JARVISH, Inc., LIVALL Tech Co., Ltd., H&H Sports Protection USA, Inc., Sena Technologies, Inc. (Kakao Games Corp.), and Lumen Labs (HK) Ltd.
The Full Face market acquired the maximum revenue share in the Market by Type in 2022 thereby, achieving a market value of $1.1 billion by 2029.
The Navigation market has shown the high growth rate of 17.4% during (2023 - 2029).
The North America market dominated the Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $711.3 million by 2029.
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