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

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 to improve 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.

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 shortly.

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

Based on 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 is 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 environments.

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, the 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 helmets 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 a 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 a 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

Based on 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 their advanced features like real-time navigation, enhanced safety, and integrated communication systems.

The demand for smart helmets is increasing among cyclists to monitor their workout, calorie consumption, and for measuring heart rate.  These helmets can connect with smart devices via Bluetooth to analyze and monitor the statistics. In addition, the growing adoption of advanced technologies like augmented reality (AR) and increasing awareness about road safety will surge the demand for products in the 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 processes 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 the 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, the 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 the manufacturing and construction industries. However, the 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 the demand for smart helmets among bike riders.

However, resuming activities by construction and manufacturing industries is expected to drive the demand for smart helmets, as industries become more aware of the 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 their 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

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 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
    • The Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • Middle East & Africa