LAMEA Smart Helmet Market Size, Share & Industry Trends Analysis Report By End-use (Consumer, Manufacturing, Construction and Others), By Type (Full Face, Half Face and Hard Hat), By Component, By Country and Growth Forecast, 2023 - 2029
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Market Report Description
The Latin America, Middle East and Africa Smart Helmet Market would witness market growth of 23.7% CAGR during the forecast period (2023-2029).
One of the most dangerous occupations is firefighting. Firefighters suffer fatalities or serious injuries every year while carrying out their work. Finding the fire's location and moving safely in a smoke-filled atmosphere present the biggest challenges for firefighters. Smart helmets have a variety of features, including video recording, thermal imaging, communication between firefighters, and more, that enable firefighters to find fires more rapidly and put out fires by taking the appropriate actions. Due to its impact resistance, these helmets shield firefighters' heads from harm.
Smart helmets can be linked to smartphones. The ability to accept, reject, and make calls is aided by this. In recent years, the number of smartphone users has increased, which has aided in the expansion of online sales channels. With the use of mobile devices, customers are more easily and passively buying and selling goods via the internet than ever before. FinTech businesses are modernizing payment processes to increase transaction security and ease. These businesses are also collaborating with well-known banks to offer rebates on the goods, which will probably attract a sizable number of customers to online shopping. As a result, throughout the forecast period, the growth of the online distribution channel is anticipated to support the market.
Brazil is now a member of the Global Forum for Road Traffic Safety, an ongoing UN organization that brings together 160 nations and addresses strategic problems to enhance road safety in a global setting. The number of motorcycles on roadways in Brazil is among the highest in the world. The NBR 7471 helmet safety standard is specific to Brazil. A large portion of Brazil's demand for helmets is driven by the nation's severe helmet rules, which call for all motorcyclists to wear helmets that adhere to strict safety standards. As a result, the helmet industry in Brazil is highly controlled, with severe safety requirements that all helmet producers must follow. The market in Brazil is also influenced by fashion and design trends. Particularly among younger riders, the demand for smart helmets with distinctive patterns and colors has grown recently. Hence, because of these elements, the regional market will grow rapidly in the coming years.
The Brazil market dominated the LAMEA Smart Helmet Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $34.2 million by 2029. The Argentina market is anticipated to grow at a CAGR of 24.3% during (2023 - 2029). Additionally, The UAE market would showcase a CAGR of 23.3% during (2023 - 2029).
Based on End-use, the market is segmented into Consumer, Manufacturing, Construction and Others. Based on Type, the market is segmented into Full Face, Half Face and Hard Hat. Based on Component, the market is segmented into Communication, Navigation, Cameras and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Borderless Incorporated (CrossHelmet), Vista Outdoor, Inc. (Bell Helmets), Forcite Helmet Systems Pty Ltd., Intelligent Cranium Helmets LLC, JARVISH, Inc., LIVALL Tech Co., Ltd., H&H Sports Protection USA, Inc., Sena Technologies, Inc. (Kakao Games Corp.), and Lumen Labs (HK) Ltd.
Scope of the Study
Market Segments Covered in the Report:
- Full Face
- Half Face
- Hard Hat
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Borderless Incorporated (CrossHelmet)
- Vista Outdoor, Inc. (Bell Helmets)
- Forcite Helmet Systems Pty Ltd.
- Intelligent Cranium Helmets LLC
- JARVISH, Inc.
- LIVALL Tech Co., Ltd.
- H&H Sports Protection USA, Inc.
- Sena Technologies, Inc. (Kakao Games Corp.)
- Lumen Labs (HK) Ltd.
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