Trusted Business Insights presents the Updated and Latest Study on Smart Clothing Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Smart Clothing Market
Industry / Sector Trends
Smart Clothing Market size was over USD 150 million with shipments of around 800 thousand units in 2016.
Germany Smart Clothing Market Share, By Product, 2016 (USD Billion)
Growing use across various industrial verticals such as sports & fitness, healthcare, military & defense is driving the smart clothing market globally. Gradual rise in the number of sports injuries coupled with increased spending in military & defense sector across various countries to protect soldiers from potential injuries present significant growth opportunities. The rising demand for monitoring body activities through sensors is expected to surge the demand for smart clothing market over the forecast timespan. Growing awareness among individuals regarding fitness is providing an impetus to the industry growth. In addition, the inclination of athletes towards the use of these products to prevent injuries and optimize their performance will have a positive impact on the business.
Escalating demand for smart t-shirts equipped with sensors to measure the heart rate, blood pressure, perspiration rate and muscle engagement is anticipated to propel the smart clothing market growth over the future. These products have the capability of reducing and preventing potential sports injuries which are caused by exertion as well as lack of proper warm up resulting in muscle strain and ligament sprain. With the growing customer requirements, the smart clothing market is expected to witness a rapid shift in customer preference. Various players are launching products with enhanced features such as muscle activity tracking providing better accuracy that is attracting a huge customer base in the countries such as U.S., Germany and UK.
High cost associated with the products followed by lack of awareness is expected to hinder the smart clothing market growth over the forecast timespan. Moreover, the factors which might limit the industry demand include technical challenges such as device power & sensor inaccuracy and data privacy issues.
Market Segmentation, Outlook & Regional Insights: Smart Clothing Market
Smart Clothing Market, By Product
The smart t-shirts market is expected to grow significantly with over 50% CAGR from 2017 to 2024. It provides biometric data such as heart rate, breathing rate & volume, muscle activity and transmits the data to an application in devices such as mobile and laptop via Bluetooth. The collected data is analyzed to optimize performance & workout plans by coaches, providing in-depth assessments to individual athletes.
Smart jackets are set to witness growth over the future owing to the ability of these products to control the mobile devices of the wearer and connect to several services such as music and camera directly from the jacket. Other features include charging facility for the mobile devices along with receiving & rejecting calls by swiping or tapping the jacket without even touching the device.
Smart Clothing Market, By Application
Military & defense applications are predicted to witness high growth with a CAGR of over 55% from 2017 to 2024. In order to gain visibility into the health of a soldier as well as crucial battlefield insights, various government institutions are investing heavily to develop technologically advanced military uniforms. The development of advanced solutions for the military & defense personnel will give them a tactical & technological advantage. Data identifying potential battlefield injuries such as impact of bullets, explosions are extracted through the numerous sensors placed on the uniform across various body locations. These advanced uniforms collect vital signs and the data is used to identify the fitness of the soldiers, detect wounds & injuries and analyze the results of military engagements.
Smart Clothing Market, By Region
U.S. smart clothing market size is estimated to witness huge adoption and will dominate the industry with the significant revenue share. Increasing investments by various sports associations to eliminate the possibility of any preventable injuries of highly paid professional athletes is expected to fuel the industry growth. For instance, U.S. based professional basketball team Golden State Warriors is currently working with smart clothing firm Athos to use these products for injury prevention as well as optimizing the player performance.
Asia Pacific smart clothing market is expected to witness substantial growth over the forecast timespan. This can be attributed to the growing adoption of various wearable devices coupled with the increasing demand for advanced features in the products. In addition, rising security concerns and increasing military and defense budgets across countries such as India and China is predicted to witness huge demand for these products.
Key Players, Recent Developments & Sector Viewpoints: Smart Clothing Market
Key players in the smart clothing market include Athos, Catapult Sports Pty Ltd, Heddoko Inc., Hexoskin, Lumo Bodytech Inc., Ralph Lauren, OMSignal, Sensoria Inc., etc. The industry is forecast to witness intensive competition owing to the increasing rate of new entrants. The industry players are collaborating with various sports associations and government institutions to gain eminence. In addition, various technology companies are focusing on diversifying their services by building partnerships with clothing firms. For instance, Google Inc. partnered with Levi Strauss & Co. to develop a smart jacket allowing users to interact with their devices and perform tasks such as changing music tracks and accessing navigation information.
Smart Clothing Industry Viewpoint
The smart clothing market provides opportunities for fabric & sensor manufacturers, application developers and other players operating across the value chain to generate revenue and fulfill customer requirements. The companies are focusing on providing solutions to industry verticals such as sports & fitness, healthcare, military & defense and entertainment. The inclination of defense personnel towards the use of these products are expected to gain traction over the years. Moreover, multinational corporations such as Adidas AG are incorporating the use of sensors in their existing portfolio of the fitness smart clothing marke
What are the Key Insights Covered: Exhaustive Smart Clothing Market
1. Market size (sales, revenue and growth rate) of Smart Clothing industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Smart Clothing industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Smart Clothing industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Smart Clothing industry.
What is the Research Methodology used: Smart Clothing Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Smart Clothing Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
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