Global Smart Helmet Market: Overview
The demand within the global smart helmet market is expected to increase on account of advancements in various streams of technical engineering. Although the primary function of smart helmets is to enhance the safety of riders, these helmets have also found relevance in other technical fields. The use of smart helmets by site engineers to gain access to landscape maps and 3D-images has played a vital role in market growth. Smart helmets may also be used by geologists while inspecting dangerous terrains in the forthcoming years.
Vehicular safety has become a major concern for governments, state authorities, and traffic management authorities. This factor has led several business entities to invest in smart helmet technology. The dynamics of market growth largely hinge onto the development of smart helmets with add-on features such as solar power, crash warning, and road analysis. Hence, the existing vendors in the global smart helmet market are projected to capitalise on the opportunities that have risen out of road safety concerns.
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A report on the global smart helmet market is a representation of the forces that have aided market growth. The global smart helmet market has been segmented on the basis of the following parameters: type, component, end-use, and region. On the basis of type, full face helmets are expected to attract the highest demand in the years to come.
Global Smart Helmet Market: Notable Developments
The global smart helmet market has undergone key developments over the past decade. Some of these developments are explained below:
- Leading vendors such as Nand Logic Corp. and Fusar Technologies Inc. are focusing on providing add-on features in their products. Some of the key features that have been introduced in their products are sensor integration, augmented reality, and head-up display (HUD). The integrability of internet of things (IoT) has helped the market vendors in manufacturing supremely utilitarian products.
- Sena Technologies Inc. has invested in developing core technologies such as bluetooth connectivity, hands-free navigation, and terrain analysis. This strategy could help the company is gaining a competitive edge over their counterparts, and in building a larger consumer base.
- A new model of smart helmets introduced by Porsche has gained popularity due to its sleek design. Furthermore, this helmet also endows front and rear lights, along with turning signals.
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Some of the leading vendors in the global smart helmet are Fusar Technologies Inc.; Forcite Helmet System Pvt. Ltd.; 360fly Inc.; Jarvish Inc.,and Daqri LLC.
Global Smart Helmet Market: Growth Drivers
- Increasing Focus on Safety of Bikers and Cyclists
The number of road accidents due to the presence of unforeseen elements on the road has increased. This factor has led state authorities and municipal bodies to focus on safer and more cautious systems for bikers and cyclists. Complementing this trend, the demand for smart helmets is also projected to rise by leaps and bounds.
- Popularity of Biking Expeditions and Trips
Adventure enthusiasts travel across countries to accomplish their biking expeditions. The Asia Pacific region, in particular, is characterised by adventurous terrains for undertaking biking expeditions. Owing to the aforementioned trend, the global smart helmet market is expected to increase in size and revenue.
Global Smart Helmet Market: Regional Outlook
The global smart helmet market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The smart helmet market in Europe is expanding due to the growing trend of undertaking cycling trips across the region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?