July 07, 2020
According to a recent study titled ‘Global HUD Helmet Market Size study with COVID-19 impact, by Component Type (Hardware and Software), by Outer Shell Material Type (Carbon Fiber, Plastic & Glass Fiber and Kevlar), by Connectivity Type (Tethered System and Embedded system), by Display Type (Liquid Crystal on Silicon (LCOS) Display, Liquid Crystal Display (LCD) & Light Emitting Diode (LED) and Organic Light-Emitting Diode (OLED) Display), by Technology Type (Conventional HUD and Augmented Reality (AR) HUD), by Power Supply Type (Rechargeable Batteries, Solar Powered Supply and Vehicle Battery Powered), by Function Type (Navigation, Communication, Performance Monitoring and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global HUD helmet market was worth USD 46.1 million in 2019 and is anticipated to register a hefty CAGR of 30% through 2026.
As per the report, escalating motorcycle-related fatalities across the globe is the primary growth driver for global HUD helmet market. For instance, about 1.25 million individuals die in road crashes annually, averaging 3,287 deaths/day, which totals to a loss of nearly USD 518 billion across the globe, as stated by the WHO. The US alone recorded over 5,172 motorcycle death in 2017, witnessing an increase of 143 cases from 5029 deaths in 2015. In addition, data revealed by the Malaysian police cited that more than 7,152 people in Malaysia died in road accidents, of which 62.7% (4,484) of them are motorcyclist. Hence, the rising number of deaths is acting as a positive influencer for the demand of HUD helmets.
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For the record, a HUD helmet offers rider access to real-time records regarding the motorcycle’s performance, including the on-street conditions by displaying data on the helmet’s glass. Additions to essential statistics will no longer simply reduce interruption while driving but will also let the rider enjoy a greater level of luxury & comfort. Furthermore, technological advancements such as connected motorcycles are projected to augment the market growth over the analysis period. On the contrary, complications in achieving optical contrast and perceptual tunneling is negatively impacting the industry outlook.
From a geographical frame of reference, global HUD helmet market is divided into North America, Europe, Asia Pacific, Latin America, and Rest of the World. North America holds the majority market share, fueled by increasing concerns & safety measures for motorcyclists.
Meanwhile, Asia Pacific is set to expand at a rapid pace, owing to shifting focus towards connected motorcycles and presence of strict government norms & policies regarding wearing helmets.
Key players operating in global HUD helmet market are Whyre, Crosshelmet, Nolan Communication System, Livemap, Intelligent Cranium Helmets LLC (ICH), Bikesystems, Reyedr, SKULLY Technologies, Digilens Inc., and NUVIZ, Inc.