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Smart Helmet Market Size & Analysis, 2025 | Industry Trends Report

Smart Helmet Market Analysis Report By Type, By Component, By End Use, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17620169  |  Published: October 2020  |  No of Pages: 120
Format: Electronic (PDF)  |  Industry: Computing & Technology  |  Publisher: Grand View Research

Industry Insights

The global smart helmet market size was accounted for revenue of USD 372.4 million in 2018 and expected to grow at 18.6% CAGR during the forecast period, from 2019 to 2025. These smart helmets comprise several components such as sensors and electronic devices to collect real-time data and help to reduce operational risk and enhance safety.

Smart helmets are gaining traction among motorcycle and bicycle riders in order to improve the comfort, security and safety. These helmets are also used for sporting events and firefighting as well as military purposes. Factors like strict government regulations across the globe regarding road safety coupled with the introduction of smart wearable devices are projected to drive further growth of this market over the forecast period.

U.S. smart helmet market

Growing focus of helmet manufacturers to reduce the use of smartphones while riding motorcycles and bicycles is expected to open new opportunities to develop advanced and innovative smart helmets. Increasing adoption of smart helmets coupled with growing sales of motorbikes is expected to witness significant market growth in the near future.

Key players are also engaged in implanting new marking strategies such as product innovation. For example, companies are adopting detection sensors with re-enforced fiberglass and carbon fiber to reduce weight, real-time data fetching, and to enhance connectivity.

The introduction of advanced sensors like accelerometers, heart-rate sensors and video recording cameras allows uses to monitor their surroundings and their vital statistics. However, high cost of smart helmets, low awareness regarding personal safety among riders, high investment for R&D activities are some factors expected to hamper the smart helmet market growth to some extent. Therefore, to overwhelm these challenges, companies are focusing to increase awareness about smart helmets among consumers through digital media.

Type Insights

On the basis of type, the market is fragmented into half face, hard hat and full face. The full face is expected to hold the largest market share and estimated to grow at the fastest growth rate over the forecast period. In 2018, this segment accounted for a market share of over 57.0% due to growing demand by bike riders. Moreover, increasing usage of smart helmets for adventure sports is projected to drive the segment growth over the forecast period.

The hard hat type segment is projected to witness significant growth from 2019 to 2025. This growth is attributed to the rising demand for these helmets across various industries like construction, mining, and manufacturing in developed regions. In the mining and manufacturing sectors, hard hats are used for real-time location tracking and harmful gas leakages. The main purpose of this helmet is to ensure workers' safeties that are operating in hazardous environment.

Component Insights

Based on the components, the smart helmets market is segmented into communication, camera, navigation, and others.  In 2018, the communication component segment held the largest markets share. On the other hand, navigation segment is projected to grow at the fastest CAGR over the forecast period, from 2019 to 2025. Smart helmets offer features like positioning, tracking, and navigation by using the Global Navigation Satellite System (GNSS).

Smart helmet assist riders to keep alert about blind spots; thereby market players are integrating High Definition (HD) wide-angle cameras in smart helmets to provide a rear-view vision on small component known as Head-Up Display (HUD). This component helps to prevent distraction and display information about weather conditions, bike speed, and fuel status.

Smart helmets also include an audio system that allows riders to answer calls while riding. Companies are also engaged in integrating sensors in helmets to identify pollution levels. Once the pollution level detects, these sensors will start the air purifier along with cooling fan to cool the air. Additionally, companies are coming up with rechargeable batteries to enable without interruption activities for a longer duration.

End-use Insights

On the basis of end-use, the market is fragmented into construction, manufacturing, consumer, and others. In 2018, the consumer segment held the largest market share and expected to retain its position throughout the forecast period. This is due to rising sales of two-wheelers and rising safety concerns.

In smart helmets, advanced technology is used to enhance road safety and situational awareness.  Smart helmets are gaining traction in the consumer end-use segment owing to its advanced features like real-time navigation, enhanced safety and integrated communication systems.

Europe smart helmet market

The demand for smart helmets is increasing among cyclists to monitor their workout, calorie consumption, and for measuring heart rate.  These helmets are able to connect with smart devices via Bluetooth to analyze and monitor the statistics. In addition, growing adoption of advanced technologies like augmented reality (AR) and increasing awareness about road safety will surge the demand of products in energy, manufacturing, and construction sectors is expected to surge the smart helmet market growth.

Regional Insights

In 2018, Asia Pacific held the largest revenue market share of more than 45.0%. This high revenue market share is attributed to the growth of the automotive industry due to environmental regulations, consumer preference, competition, and government policies. Manufacturers are introducing new designs coupled with advanced manufacturing process due to rapidly changing consumer demand.

North America is expected to lead the global market due to rising awareness about the benefits of smart helmets coupled with stringent government rules for road safety. In United States, according to the Occupational Safety and Health Administration (OSHA) standards and Personal Protective Equipment (PPE) at work norms are projected to propel the product demand in this region.

Asia Pacific is projected to exhibit the fastest CAGR over the forecast period. This growth is attributed to rising sales of motorcycles, and increasing awareness about personal safety in developing nations. In addition, growth of industrial and manufacturing sectors coupled with stringent regulations for labor safety will propel the market growth in the next few years.

COVID-19 Impact Analysis

The outbreak of the COVID-19 virus has negatively impacted the market. Smart helmets are majorly used in manufacturing and construction industries. However, government has imposed restrictions and stopped physical operations in these industries worldwide to prevent virus infection. This scenario has decreased sales of smart helmets during lockdowns. Moreover, movement restrictions have declined demand for smart helmet among bike riders.

However, after resuming activities by construction and manufacturing industries is expected to drive the demand for smart helmet, as industries become more aware of safety of their workers and will follow safety measures as per government regulations. This factor is expected to surge market growth post-pandemic to some extent.

Smart Helmets Market Share Insights

The major companies included in the market are Forcite Helmet System Pvt. Ltd.;  Lifebeam Technologies Ltd.; Babaali; Jarvish Inc.; Sena Technologies Inc.; JagerHelmX Smart Helmets. Nand Logic Corp.; Fusar Technologies Inc.; Daqri LLC; and 360fly Inc.

Manufacturers are striving to develop advanced features through the development of integrated communication, product innovation, and navigation solution to fulfill the customer’s needs. Currently, the market is in the introduction phase and new market players are focusing on developing several next-generation technologies like sensor integration, next-generation technologies, Internet of Things (IoT), and Head-Up-Display (HUD) to expand their product portfolio and also geographical presence.

Companies including Daqri LLC; Fusar Technologies Inc.; and Sena Technologies Inc. have gained the largest market share due to its innovative and strong R&D activities. Key players are focusing on product development and product innovation as well as establishing partnerships with developing countries to expand their business.

Report Scope

Attribute

Details

Market size value in 2020

USD 516.3 million

Revenue forecast in 2025

USD 1,208.4 million

Growth Rate

CAGR of 18.6% from 2019 to 2025

Base year for estimation

2018

Historical data

2017

Forecast period

2019 - 2025

Quantitative units

Revenue in USD million and CAGR from 2019 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, component, end use, and region.

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; UK; Germany; India; Japan; China; Brazil.

Key companies profiled

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 JagerHelmX Smart Helmets.

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.


Segments Covered in the Report
 

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2025. For the purpose of this study, Million Insight has segmented the global smart helmet market report based on type, component, end use and region:

• Type Outlook (Revenue, USD Million, 2017 - 2025)
    • Full Face
    • Half Face
    • Hard Hat

• Component Outlook (Revenue, USD Million, 2017 - 2025)
    • Communication
    • Navigation
    • Camera
    • Others

• End-use Outlook (Revenue, USD Million, 2017 - 2025)
    • Consumer
    • Manufacturing
    • Construction
    • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2025)
    • North America
        • The U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • Middle East & Africa

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