(MENAFN- America News Hour) Kenneth Research has recently added a report titled Global Smart Helmet market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2024. Global Smart Helmet market is further anticipated to grow with a CAGR of XX during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
Global Smart Helmet Market Overview
Smart helmets are autonomous and user friendly in nature. The helmet can be connected to internet to perform wide range of functions such as traffic monitoring, GPS guidelines, In-built headphones etc. Smart helmet contains flexible inner layer which becomes hard during an accidental situation along with this the device is designed to provide complete safety measures which includes sending an emergency message to friends and family in critical situations with a single press. Smart helmets are gaining popularity in various sports events as well as by bike riders across the globe. Smart helmets have multiple features such as engine control system, inbuilt cooling fan, inbuilt bluetooth system, accidental alert system, cell phone charging with the solar power use. These features are attracting the consumer's interest towards the adoption of smart helmet technology, the product is designed to provide security, safety and comfort journey to the rider. Smart helmets for cycling is a basic workout monitor, measuring heart rate and calorie consumption. It connects via bluetooth to smart watches or apps to monitor the statistics.
The emerging trend of using sophisticated smart wearable for personal safety along with the rising concerns of consumers for road safety is expected to create a huge demand of smart helmets in the upcoming 5-6 years.
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Market Size & Forecast
Global smart helmet market is anticipated to expand with a healthy compound annual growth rate over the forecast period owing to the growing personal safety concerns among the users. North America is anticipated to hold the largest consumer base for smart helmets followed by Europe owing to the strict government regulations for road side safety in the region. U.S is expected to be the dominant market for smart helmets in the North American region.
'Final Report will add the analysis of the impact of COVID-19 on this industry.'
Asia Pacific is expected to be fastest growing region in smart helmet market owing to the large scale production of motorcycles along with the rising personal disposable income of consumers which will increase the affordability to buy such helmets in the region.
Key Players
Nand Logic Corp.
Forcite Helmet System Pvt. Ltd.
LifeBEAM Technologies Ltd.
360fly Inc.
FUSAR Technologies Inc.
DAQRI LLC
Sena Technologies Inc.
JARVISH Inc.
Jager HelmX Smart Helmets
BABAALI
Growth Drivers and Challenges
Increasing safety and security concerns along with the technological advancements in smart devices is strengthening the demand for smart helmets across the globe. It has been notified that motorcycles are considered as an economical convenience of mobility and head injury is the primary cause of death in motorcyclists. Increasing production of motorcycles coupled with the rising figures of accidental death by head injuries will further propel the demand for advanced safety devices across the globe.
Adoption of smart helmet technology in construction industry is positively driving the global smart helmet market. The helmets are featured with 3600 wireless camera, allowing a full view of worker surrounding. Key market players such as DAQRI are focused on designing construction wearable featured with geo-fencing and collision detection systems; this will boost the demand for smart helmets in construction industry over the forecast period.
Introduction of lighter weight smart helmets which are manufactured by advanced material combination of carbon fiber and fiberglass reinforced plastic and integration of electronics in helmets are major technological factors which are anticipated to propel the market growth over the forecast period i.e. 2017-2024.
High cost associated with the product, lack of awareness regarding smart helmets in developing countries is major factors that may hinder the growth of smart helmet market over the next few years.
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Market Segmentation
By Product
Full Helmet
Half Helmet
Smart Hard Hat (for construction workers)
By Accessories
Motorcycle Bluetooth communication system
Motorcycle Bluetooth HD cameras
By End User
Cycling
Motorcycling
Construction Sector
Industrial Sector
By Region
Global Smart Helmet Market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products' demand, growth and opportunities for new and existing players .
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