LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global motorcycle connected helmet market to grow at a CAGR of close to 21% during the period 2018-2022, according to their latest report.
This market research report segments the global motorcycle connected helmet market into the following products (freestanding and embedded) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
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In this report, Technavio analysts highlight the rising motorcycle accidents as a key factor contributing to the growth of the global motorcycle connected helmet market:
Rising motorcycle accidents driving the adoption of advanced connected helmets
With the increase in the number of motorcycles, the fatality rate among motorcyclists has become a major cause of concern. Thousands of people die in motorcycle accidents every year across the globe. In the US, motorcycle fatalities represent roughly 5% of all yearly highway fatalities. One of the key reasons for such high fatality conversion rates is the lack of protection for the rider and the vehicle. This fatality risk from motorcycle has created the need for safety in motorcycles that paved the way for adoption of advanced safety features through helmets. In addition to normal crashes, improper lane changing leads to severe fatalities in the motorcycle segment because they lack the necessary protection of the frame of a car.
Advanced helmets having 180-degree rear view would be beneficial for the rider and will display the vehicle in another lane. Furthermore, motorcycle connected helmet permits the rider to decrease the distraction because of external factors such as detecting vehicles in their blind spot. Consequently, the connected helmet provides increased riding comfort along with increased safety quotient.
According to a senior analyst at Technavio for automotive electronics, “Most of the motorcycle accidents happen due to distractions caused by using smartphones while riding. The penetration of mobile phones is increasing continuously across the globe, with some regions having above 95% penetration. Motorcycle riding requires focus due to less stability and control, and distraction for even split seconds could be hazardous for the rider and others on the road.”
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Global motorcycle connected helmet market segmentation
Of the two major products, the freestanding segment held the largest market share in 2017, accounting for nearly 73% of the market. However, the market share for this product will decrease significantly during the forecast period.
In 2017, the Americas led the global motorcycle connected helmet market, with a market share of close to 44%. It was followed by EMEA and APAC. This region is expected to witness steady growth during the forecast period.
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