Press release
Next-Gen Safety: The Rise of HUD Helmets
According to The Business Research Company's, the HUD helmet market size has grown exponentially in recent years. It will grow from $0.79 billion in 2023 to $0.97 billion in 2024 at a compound annual growth rate (CAGR) of 22.1%. the growth in the historic period can be attributed to increasing demand for enhanced safety measures, increasing adoption of the technology, increasingly used in automobiles, increase in the purchasing power of individuals, and increased awareness and rigorous regulations.
the HUD helmet market size is expected to see exponential growth in the next few years. It will grow to $2.17 billion in 2028 at a compound annual growth rate (CAGR) of 22.4%. the growth in the forecast period can be attributed to growing numbers of motorcycle fanatics, growth and demand returning to pre-pandemic levels, growing concerns regarding road safety, growing safety concerns while riding the vehicles, and rising disposable Income of the consumer. Major trends in the forecast period include technological advancements, innovation in HUD helmets, innovative eye tracking systems, integrated transparent displays, integration of artificial intelligence, technological innovation, developments in automotive inductive wireless charging systems, and innovative HUD helmet designs.
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Market Drivers and Trends:
The growing number of road accidents is expected to propel the growth of the HUD helmet market going forward. The growing number of road accidents is due to increased traffic congestion, distracted driving due to mobile devices, inadequate infrastructure maintenance, fatigue, and speeding. HUD helmets help to reduce accidents by providing essential information such as navigation cues and vehicle data directly in the rider's line of sight, minimizing distraction and allowing them to keep their eyes on the road. For instance, in May 2022, according to the National Highway Traffic Safety Administration, a US-based government agency, motor vehicle accidents resulted in 42,915 deaths in 2021, a notable 10.5% increase over the 38,824 reported fatalities in 2020. Therefore, the growing number of accidents is driving the growth of the HUD helmet market.
Major companies operating in the HUD helmet market focus on developing innovative products, such as smart tech head-up helmets designed specifically for motorcycle riders and converting their full-face helmets into smart devices. A smart tech head-up helmet is a motorcycle helmet with advanced technology, such as a head-up display, offering riders essential information such as navigation, speed, and calls without diverting their attention from the road, thereby enhancing safety and convenience. For instance, in July 2023, Digades GmbH, a Germany-based company that develops electronic components, collaborated with Sygic, a Slovakia-based navigation company, to launch a heads-up display (HUD) for bike enthusiasts. This innovative HUD provides seamless navigation with precise turn-by-turn directions in the rider's line of sight, enhancing safety by reducing distractions. Riders can customize the display to show speed, trip data, or navigation cues. It includes live weather and traffic updates to stay informed and voice control for hands-free operation.
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Major Key Players of the Market:
Bayerische Motoren Werke GmbH, Seiko Epson Corporation, Japan Display Inc., August Bremicker Söhne KG., Shoei Co. Ltd., Nuviz Inc., Recon Instruments Inc., Elbit Systems Ltd., Shenzhen Sena Technologies Inc., Livall, Vuizix corp., SKULLY Technologies Inc., Renfrew Group International, Intelligent Cranium Helmets LLC, MET Helmets SpA, CrossHelmet, Jarvish Inc., Forcite Helmet Systems Pty Ltd., Aero Glass, FUSAR Technologies Inc.
HUD Helmet Market 2024 Key Insights:
• The hud helmet market size is expected to grow to$2.17 billion in 2028 at a compound annual growth rate (CAGR) of 22.4%.
• Increasing Accident Rates Drive Growth In HUD Helmet Market
• Innovative Developments In HUD Helmets Enhance Safety And Convenience For Motorcycle Riders
• North America was the largest region in the hud helmet market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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