Smart Helmet Market Research, Key Players, Analysis And Forecast 2030: Grand View Research Inc.

 

The global smart helmet market size is expected to reach USD 2,314.6 million by 2030, growing at a CAGR of 17.0% from 2023 to 2030, according to a new study by Grand View Research, Inc. The growing adoption of advanced wearable technology and government-imposed safety laws across the globe are the major factors driving the growth of the smart helmet industry. The increasing scope of smart helmets, to cover everything from providing safety and security with modular connectivity features to maintaining and recording the staff and workforce productivity in construction industries, is propelling the market's growth over the forecast period.

Smart helmet technology providers are actively developing innovative products and expanding their product portfolios. For instance, in April 2021, Sena Technology, Inc., a technology provider for motorcycle communications, announced the launch of Rumba, a multi-sport Bluetooth helmet. Rumba offers features such as a two-way Bluetooth intercom and smartphone pairing for GPS, phone calls, and music and is suitable for skaters and bicyclists. Such product launches are anticipated to harness the market’s growth over the forecast period.

Smart hard hats (helmets) also help enhance safety at construction sites and aid construction companies in monitoring the workers' work remotely. For instance, the GPS installed in these smart hard hats allows the managers to monitor every worker's activity and record the workers' attendance. Moreover, the smart hard hat also helps identify the task and the worker's position per their role, ultimately leading to proper management of the individually assigned work. Efficiency, security, and enhanced productivity offered by smart hard hats (helmets) are driving the market's growth.

The outbreak of the COVID-19 pandemic negatively impacted market growth during the initial phase of the pandemic, owing to the lockdowns imposed by governments. However, smart helmets proved to be an aid during the pandemic as the police and health officials across the globe started to use smart helmets that included thermal scanning features, which accurately scanned the temperature of a large number of people in a few seconds, to reduce the spread of the coronavirus, thus increasing the market demand for smart helmets. Furthermore, as the world recovers from the adversities of the pandemic, the demand for smart helmets is anticipated to increase further, contributing to the market’s growth.

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The market growth can be attributed to rising safety and security concerns and technological advancements in smart wearables. Smart helmets include multiple electronic devices and sensors that can help users gather real-time data, reduce operational risks, and improve safety in the long run. Moreover, stringent road safety regulations laid down by governments across the globe are expected to drive market growth over the forecast period.

Smart helmets offer better safety to individuals while using automobiles or working at construction sites. Smart helmets of the new age incorporate many technologically advanced features such as GPS, map navigation, health monitoring (Skin temperature monitoring), sensor data collection, humidity check, air quality check, live streaming camera, and interconnected devices, among other features. Key market players are launching innovative solutions in the market with revolutionary features. For instance, in May 2022, Sena Technologies, Inc. announced the launch of OutForce, a full face motorcycle smart helmet. The helmet has features such as Bluetooth 5.0 connectivity, 4-way Bluetooth Intercom, smartphone app compatibility, and integrated speakers & microphones. Such product launches are harnessing innovation and growth in the market.

Smart Helmet Market Report Highlights

• The navigation segment is expected to emerge as the fastest-growing segment over the forecast period owing to bike riders' increasing adoption of smart helmets for in-country and cross-country navigation
• The full face segment is expected to grow at a significant CAGR over the forecast period. The increased adoption of full-face smart helmets by motorcycle and cycle commuters due to superior safety features is expected to drive the segment's growth
• The consumer end-use segment is expected to gain traction over the forecast period owing to the increasing adoption of smart helmets in developed regions such as North America and Europe. Due to increased road traffic, two-wheelers are now being favored as the preferred mode of commute, which is expected to act as a major growth driver for smart helmets in these regions
• Asia Pacific is anticipated to emerge as the fastest-growing regional market over the forecast period owing to the increasing sales of two-wheelers and rapidly growing industrial and construction projects

Additionally, smart helmet technology providers are investing aggressively in research & development activities to develop innovative products and expand their respective product portfolios. New product launches are particularly aimed at enhancing the efficiency of a smart helmet and providing a better customer experience. For instance, in November 2021, Huawei, a technology provider, announced the launch of the Helmetphone BH51M Neo, a smart helmet, in China. The smart helmet offered smart features such as voice commands and Bluetooth calling. It is powered by the company’s operating system: HarmonyOS, and is suitable for biking, skateboarding, roller skating, and electric bicycle. Such product launches are contributing to the market’s growth.

Road traffic accidents are a significant public safety issue and the primary cause of disability and deaths worldwide. As per the World Health Organization (WHO), around 1.2 million people die yearly due to traffic accidents, and many are wounded or disabled. Moreover, according to the National Highway Traffic Safety Administration (NHTSA), an agency of the U.S. federal government and part of the Department of Transportation, 5,579 motorcyclists died in 2020, and another 82,528 were injured. The most common causes of motorcycle accidents were speeding, distracted driving, alcohol, and drug impairment, and improper lane use. The rising number of road accidents is driving governments across the globe to mandate helmet usage, creating significant growth opportunities for the smart helmet industry.

List of Key Players of the Smart Helmet Market

• Beijing BaBaALi Technology Co.Ltd
• Crosshelmet
• Bell Helmets
• Forcite Helmet Systems
• Intelligent Cranium Helmets LLC (ICH)
• JARVISH INC
• LIVALL Tech Co., Ltd.
• H&H Sports Protection USA, Inc. (TORC)
• Sena Technologies, Inc.
• Lumos Helmet US