Technological advancements have aided market operators to launch smart helmets into the global market. Smart helmets have advanced features to help riders ride easily and efficiently by avoiding road accidents.
The global motorcycle helmet market size is expected to surpass an impressive valuation of USD 2.70 billion in 2022. It is anticipated to reach a market valuation of USD 5.3 billion by the end of the forecast period while exhibiting a CAGR of 7.1 % from 2023 to 2033.
Rising awareness regarding road safety is expected to drive product demand. Moreover, an increasing number of motorbike and sports bike enthusiasts coupled with rising concerns regarding road traffic injuries across the globe is expected to drive the adoption of two-wheeler helmets during the forecast period.
Road traffic accidents have become a great challenge for public authorities in terms of efforts and finding sustainable solutions for effective prevention. As per the report published by the United Nations Motorcycle Helmet Study, between 2008 and 2020, more than 3.3 million people died due to motorcycle accidents, of which about 1.4 million of these lives could be saved by making proper use of helmets.
Technological advancements have aided market operators to launch smart helmets into the global market. Smart helmets have advanced features to help riders ride easily and efficiently by avoiding road accidents.
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Some of the smart helmet’s features include GPS connectivity, voice assistance, tracking systems, cameras, Bluetooth, and Wi-Fi connectivity. Smartphones can be connected to smart helmets. This helps riders make, receive, and reject calls. Smart helmets can also help to reduce head injuries in traffic accidents. Hence, the launch of a multifunctional smart motorcycle helmet is expected to provide lucrative growth opportunities for the market.
Key Takeaways-
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Key Segments Profiled in the Motorcycle helmet market Industry Survey
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Jul 11, 2023