BANGALORE, India, June 23, 2021 /PRNewswire/ -- The Smart Helmet Market is Segmented by Type (Full Face Helmet, Half Helmet, Other), by Application (Industrial, Firefighting, Other). The report covers global opportunity analysis and industry forecasts from 2021 to 2026. It is published on Valuates Reports in the Industrial Materials & Equipment Category.
The global Smart Helmet market size is projected to reach USD 536.4 Million by 2026, from USD 240.6 Million in 2019, at a CAGR of 12.0% during the forecast period 2021-2026.
Major factors driving the growth of the smart helmet market are:
Stringent road safety regulations laid down by governments, and awareness regarding personal safety are expected to drive the smart helmet market.
The growing adoption of advanced wearable technology is expected to further boost the smart helmet market growth.
Trends influencing the growth of smart helmet market
The smart helmets market is growing due to rising safety and security concerns, as well as technological improvements in smart gadgets. It has been reported head injuries are the leading cause of death among motorcyclists. Increased motorcycle manufacturing, along with an increase in the number of people dying as a result of head injuries, will drive demand for sophisticated safety equipment such as the smart helmet around the world.
The increased focus on decreasing cell phone use while riding has provided a significant opportunity for the development and sale of creative, feature-rich, and advanced smart helmets. Growing product uptake among bike riders, combined with rising motorcycle sales, is expected to provide considerable market growth prospects in the near future.
Because of improvements in different fields of technical engineering, the global smart helmet market is predicted to grow in demand. Although the primary purpose of smart helmets is to improve rider safety, they have also found applications in other technical domains. Site engineers' usage of smart helmets to obtain access to landscape maps and 3D photos has been critical to industry growth. Geologists may also employ smart helmets when evaluating risky terrain.
The full-face helmet segment is expected to be the most lucrative segment during the forecast period.
Wearing a full-face helmet protects the user's head from any potential road hazards or accidents. The full-face helmet helps to totally prevent the wind and debris from hitting your eyes and potentially impeding your view thanks to its articulating face mask.
By Application, the Motorcycle and Bicycle segment is expected to be the most lucrative segment during the forecast period.
Smart helmets are becoming more popular among motorcycle and bicycle riders as a means of avoiding accidents and collisions. The expansion of this market in the motorcycle and bicycle segment will be aided by an increase in outdoor recreation activities such as off-road and on-road cycling and motorcycling, as well as increased motorcycle production.
Based on region, North America is expected to be the most lucrative segment.
Governments and non-governmental organizations in the region are launching educational initiatives to promote and educate people about the importance of wearing helmets. With the shifting trends in the motorcycle market, regional motorcycle manufacturers have begun to release bikes at more inexpensive costs. This has provided helmet manufacturers with a once-in-a-lifetime opportunity to diversify their product lines and suit the ever-changing consumer demand for smart helmets. Over the projected period, the market is likely to increase because of the research and development initiatives conducted by helmet manufacturers in the region to maintain road safety.
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-Smart Motorcycle Helmets Market contains segmentation By Type (Full Face Helmet, Half Face Helmet), By Application (Adults, Children) and Regional Growth Analysis and Industry Forecasts 2026.
- The global Premium Motorcycle Helmet market size is projected to reach USD 1587.4 Million by 2027, from USD 1119 Million in 2020, at a CAGR of 6.0% during 2021-2027. Bike safety has recently become one of the most essential concerns for riders, and a helmet can help to assure safety. Motorcycle riders do not have the protection of an enclosed car when they crash, so they are more likely to be hurt or killed. The use of a helmet is critical since significant head injuries are common among fatally wounded motorcyclists. Helmets are roughly 37% effective in preventing motorcycle fatalities and 67% effective at preventing brain injuries. As a result, helmets are required for both everyday commuters and riders.
- In 2020, the global Bicycle Helmet market size was USD 636.2 Million and it is expected to reach USD 793.2 Million by the end of 2027, with a CAGR of 2.7% during 2021-2027. With a market share of around 38%, North America is the most important market. Europe is a latecomer, with a market share of around 33%. About half of the market was occupied by the top five companies.
- The global motorcycle helmet market size is expected to reach USD 1790.67 Million by 2026, growing at a CAGR of more than 2.81% from 1474.51 Million in 2019; the actual sales are about 54.49 million units in 2019.
- Electric Motorcycle Helmet Market contains segmentation By Type (Full Face Helmet, Open Face Helmet), By Application (Online Sales, Electric Motorcycle Store, Others) and Regional Growth Analysis and Industry Forecasts 2026.
- Kids Bike Helmet Market contains segmentation By Type (Traditional Bike Helmet, Skater-Style Helmet), By Application (Recreation, Sport Games) and Regional Growth Analysis and Industry Forecasts 2026.
- Bike Helmet Market contains segmentation By Type (MTB Helmets, Road Helmets, Sport Helmets), By Application (Commuter & Recreation, Sport Games) and Regional Growth Analysis and Industry Forecasts 2026.
- The global Electric Scooter market size is projected to reach USD 7384.9 Million by 2027, from USD 5703.5 Million in 2020, at a CAGR of 4.4% during 2021-2027.
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