The Global Smart Helmet Market Size, which was estimated at USD 585.1 million in 2022, is expected to increase by USD 1,560.3 million by 2028, showing a CAGR of 18.3% over the forecast period, from USD 672.2 million in 2023.
When driving or working on construction sites, smart helmets increase user safety. Advanced features like GPS, map navigation, health monitoring (including skin temperature monitoring), sensor data collection, humidity air quality checks, live streaming cameras, and connectivity with other devices are all included in these helmets. Market leaders are releasing cutting-edge products with unique features.
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Information about the report:
● Forecast Timeframe: 2023-2028
● The starting year is 2022
● Market Size in 2022: USD 585.1 million
● The market size in 2028 will be USD 1,560.3 million
● CAGR: 18.3%
● Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Smart Helmet Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The market size is the total amount of money that service providers make when they sell their products to customers. Market share is the percentage of the market that is under the control of one or more providers. The term market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the different sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Smart Helmet Market are conducted across regions, end-user industries, and material types. The study includes a thorough examination of segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the segments with the highest revenue growth rates.
By Type Analysis,
Full-face, open-face, and half-head are the types into which the market is divided.
The full-face helmet market share accounted for the largest share of smart helmets, and it is anticipated that this segment will maintain its dominance over the forecast period. Users can protect their heads from traffic hazards and accidents by donning a full-face helmet. The full-face helmet helps prevent the wind and dirt from touching your eyes and potentially obstructing your view thanks to its articulating face mask. During the forecast period, the open-face helmet is anticipated to grow at the highest CAGR. Because they offer better visibility and flexibility, open-face helmets are increasingly popular among cyclists and riders, which is largely responsible for their market expansion.
By Technology Analysis,
The market is divided into integrated communication systems, integrated video cameras, contactless temperature sensors, Bluetooth connectivity, signal indicators, and brake types, among others, based on technology.
With the help of an Integrated Communication System (ICS), which is a feature of smart helmets, almost all types and applications can be operated with voice commands. This makes it so that whenever a phone is connected to a helmet-mounted device, users can carry out a variety of hands-free tasks by speaking to the operator using the helmet microphone, such as making calls or finding directions.
By End-User Analysis,
Amid COVID-19 Pandemic, the Healthcare Sector Will See Widespread Adoption of Smart Helmets
Based on end-users, the market is segmented into consumer, industrial, healthcare, and construction.
The consumer segment held a sizable portion of the market in 2022 and is anticipated to rule throughout the forecast period. The rise in sales of two-wheelers and the rise in traffic fatalities are the main drivers of this segment's growth.
By Analysis,
The primary factors limiting the growth of this market are the relatively high production costs associated with creating advanced helmets. These accessories, which are very expensive in comparison to other helmets, include night vision goggles, head-up displays, communication units, and video camera units. In addition, problems with hardware and software compatibility prevent important manufacturers and software developers from releasing effective solutions.
List of Key Companies Profiled:
Companies continuously strive to develop innovative products and expand their product portfolios, focusing on improving the efficiency of these helmets and enhancing the customer experience.
LIST OF KEY COMPANIES PROFILED:
“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.),”
By Region,
The market is fragmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific.
The market is expanding in some developing nations in Latin America and the Middle East as a result of the low cost of motorcycles and strict regulations governing headgear use. Inadequate transportation needs, increased urban traffic congestion, rising transportation costs for other modes of transportation, and easy access to motorcycle financing are all factors that are fueling market growth.
The study report provides a thorough analysis of the “Smart Helmet Market” size globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The Smart Helmet Market is divided into two categories: type and application. Players, stakeholders, and other participants in the global Smart Helmet Market industry will be able to gain the upper hand by using the study as a valuable resource.
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