In 2015, there were 5,776 fatal, and more than 106,000 bike injuries in the U.S. Helmets are about 37 percent effective in preventing bike deaths and about 67 percent effective in preventing brain injuries. In order to change this situation, our team decided to build a smart helmet to redefine the purpose of the helmet from a passive safety element that activates only when accidents happen, to an active tool that anticipates danger and prevents accidents.
The Iron-Man Helmet will play a significant role preventing accidents that happen due to riders not paying attention to their surroundings, specially what happens behind their backs. A camera connected to the back of the helmet keeps tracking of what objects are close to the bike and might cause danger to the rider, Images are uploaded to a server that does processing and sends back a signal to alert the rider, the signal is translated to sound reflect how close the danger is (similar to car parking beep), this sounds interrupts a music playing if any, and give an extra time for the rider to ensure his safety. The helmet can connect to smartphones utilizing several services.
This product's target markets are bike enthusiasts, professional bike companies(ex. Harley Davidson & Giant), and Insurance companies (ex. State Farm & Progressive) for Usage Based Insurance. In 2015, there are 8,406,476 registered motorcycles in the U.S., and consumers in the United States purchased well over 500,000 motorcycles, reflects a 3.55 percent increase in total U.S. motorcycle sales over the previous year. The bicycle industry also increased more than 8% during the year of 2015. Thus, we believe that the target market size will continue to expand. We chose California and Florida as the first two test markets for the product since each state currently has more than 850,000 bikers. If the product is successful in the test markets, we will push the product into next stages, and increase product functions such as video recording and uploading, embedded voice service, and light blinkers.
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