Human Airbag Wearable Market Size, Share, Growth, And Industry Analysis By Type (Airbag Jack, Airbag Neck, Airbag Belt) By Application (Motorsports, Equestrian, Bicycle, Elderly Anti-Fall Others), Regional Insights, and Forecast To 2031

Human Airbag Wearable Market Report Overview

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The global human airbag wearable market size was USD 195.1 million in 2022 and is expected to reach USD 1052.96 million in 2031, exhibiting a CAGR of 20.6% during the forecast period.

The elderly are the group most at risk and most likely to sustain terrible injuries, and falls are also the second most frequent cause of serious injuries globally, as per a study conducted by the WHO in 2021. It's alarming when older people trip and fall, particularly because their hips are vulnerable. Each year, thousands of people shatter these bones all across the world. Human Airbag wearable is designed to provide security. With a gyroscope and an accelerometer, it detects when someone is falling and rapidly inflates to provide padding. Comparable to the ones in cars but worn as a belt by the elderly.

The accident of an elderly person results in anxiety about falling restricts mobility and poses a serious threat to their independence and quality of life. The way a human airbag deploys is, it does so in the sequence that the human body makes contact with the ground during a fall: hips, thorax, then head. The minute the airbag makes contact with the ground, the outlet hole is activated, releasing the gas from inside the airbag outside and inflating it to provide protection while falling. The human airbag wearable market share is steadily expanding due to their effectiveness in safeguarding the elderly.

COVID-19 Impact: Demand Increased Due To the Growing Health Concerns

The global COVID-19 pandemic has been unprecedented and staggering, with the human airbag wearable market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 was a historically unprecedented occurrence of such tremendous magnitude that it upended society. Nations went into lockdown, businesses were closed, and healthcare could never really keep up with the massive influx of patients that were arriving every day. It led to uneasiness and an attitude of health awareness. Furthermore, it has become crucial to be vigilant of injuries due to limitations in healthcare. As a result, there was a noticeable increase in demand for human airbag wearables, which is expected to persist in the post-COVID-19 reality.

Latest Trends

"Market Growth to Increase Due To Advancement in the Wearable Technology"

The human airbag wearable has undergone a great amount of research and development, leading to some incredible high-tech advancements. One such is FutureAge by D-Air lab, which was created to protect the elderly and those with motor impairments vulnerable to falling. The gear is worn like a regular belt, but whenever it detects an accident, it immediately inflates its airbags to cushion the collapse and prevent injuries from occurring to the hips and femoral head. Such automatically deployable human airbags are quite convenient, which could help the wearable human airbag market share rise.

Human Airbag Wearable Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Airbag Jack, Airbag Neck and Airbag Belt. According to the type segmentation, the airbag jack has the majority of the market.

• By Application Analysis

Based on application, the market can be divided into Motorsports, Equestrian, Bicycle, Elderly Anti-Fall and others. The motorsports holding a major share is the leading market segment by application.

Driving Factors

"Innovative Product Launches To Raise The Market Demand"

The market players have been strongly encouraged to engage in the market as a result of the segment's increasing demand and growth potential. This has led to a competitive environment where all of the market players are working to develop more advanced human airbags that are outfitted with cutting-edge technology and stand out from their rivals. Because of this healthy rivalry, new AI technologies and sensor deployment are now found in many items. These products are entering the market at a noticeably faster rate. These elements are projected to raise demand for human airbags, which will lead to an expansion in the wearable human airbag market size.

"Aging Population In High-Income Countries To Expand The Market Size "

People are living longer in general thanks to rising standards of life. The majority of people today can expect to live into their 60s and beyond. The number of older people and their share of the population is increasing in every nation on earth. The WHO predicts that within a few years, the number of people in the world who are 60 or older will double. The number of people 80 or older is anticipated to triple between 2020 and 2050, reaching 426 million. Human airbag wearables have significantly increased and are further projected to grow as a result of the aging populations in high-income countries.

Restraining Factors

"Higher Costs To Limit The Market Expansion For Human Airbag Wearables"

Human airbag wearables are quite convenient devices for elderly people. However, the cost of production and other costs involved in the manufacturing rises the final prices of such wearables. Additionally, as per WHO, low- and middle-income countries are experiencing the greatest change and as a result, the majority of the world’s population over 60 years will live in low and middle-income countries. Being from low and middle-income countries, elderlies from these countries won’t be able to purchase human airbag wearables due to their comparatively high costs. This factor would is anticipated to limit the market expansion of human airbag wearables.

Human Airbag Wearable Market Regional Insights

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"Europe Dominates The Market Due To Its Higher Standard Of Living"

Being one of the most developed regions in the world, Europe has a high standard of life. Additionally, because the region has a developed economy, people in the region have considerable income levels and healthcare knowledge. A sizeable portion of the market participants for wearable human airbags is in Europe, thereby dominating the market.  After, Europe, the North America with its advanced healthcare segment is the second leading region for the market of human airbag wearables and is expected to grow steadily during the forecast period.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP HUMAN AIRBAG WEARABLE COMPANIES

• Dainese (Italy)
• Alpinestars (Italy)
• Hövding (Sweden)
• Helite (France)
• Mugen Denko (Japan)
• S-Airbag Technology (China)
• Point Two Air Vest
• Active Protective Technologies (U.S.)
• In&motion (France)
• Safeware (U.S.)
• Freejump (France)
• Wolk Airbag (Canada)
• Spidi (Italy)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.