December 5, 2019

Smart Clothing Market is anticipated to rise at a CAGR of 8.2% from 2020 to 2030

The Global Smart Clothing Market size is estimated to be USD 190.0 million in 2019 and is predicted to reach USD 452.1 million by 2030 with a CAGR of 8.2% from 2020-2030. Smart Clothing refers to the E-textile, smart textiles, smart fabrics consist of embedded systems and digital components like wearable devices and monitor the overall body functions. Smart clothing consists of various sensors and other digital components which helps in the monitoring of pulse rate, blood pressure and others during activities. Furthermore, increase in integrated circuits, LED, solar cells, fiber optic and other which makes it more effective and better for the future.

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There have been technological advancements over the period of time coupled with increased adoption of advanced technology and wide applications are expected to promote the growth of the market over the forecast period. Furthermore, increasing awareness, and increasing demand for the constant monitoring of body activities are expected to anticipate the market growth.

The other factors such as increase in sports activities led to the increase in sports injuries has increased the demand for constant monitor of performance and injuries coupled with increased demand from military and defense are expected to drive the growth of smart clothing market. However, high cost of these smart clothes and lack of awareness are expected to hamper the growth of smart clothing market. On the other hand, incorporation of advanced technology with further development and innovation led to various product launches which in turn create opportunities in the market over the forecast period.

Market Segmentations and Scope of the Study:

The global smart clothing market share is analyzed on the basis of product, application, and geography. On the basis of product, the market is segmented into shoes, shirts, pants, jackets, and others. On the basis of application, the market is divided into healthcare, military and defense, entertainment, industrial, sports and fitness. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America represents the developed market due to the presence of develop economies with the increased adoption of advanced technologies coupled with increased awareness among people. It helps in the contribution of large market share in the market over the forecast period. Furthermore, increase in sports activities and wide application with presence of various market players in the region are also expected to direct the growth of smart clothing market.

The Asia Pacific denotes the developing region wing to the presence of developing economies such as India, China and others. These economies are expected to develop rapidly with gradual increase in market size owing of the increasing sports activities with the increasing adoption of smart clothing coupled with wide applications in sports, defense, aesthetics and others which is expected to promote the growth of the market in near future.

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The smart clothing market consists of various market players which contribute the overall market size. Some of the major market players include Nike Inc., MAD Apparel Inc., Sensoria Inc., iQ Smart Clothing Ltd., CuteCircuit Ltd., Clothing+, Carré Technologies Inc., OMsignal Inc., Lumo Bodytech, Medtronic plc, Hexoskin, Adidas AG, Tex-Ray Industrial Co. Ltd., and Wearable X among others.

There has been rapid ongoing development in the market which will further augment the growth of smart clothing market over the forecast period. For instance, in May 2018, A partnership between Alphabet's Google and Levi Strauss could be a sign of things to come. They have brought to market the $350 Commuter X, a denim jacket that lets the user control a phone through the use of gestures alone.

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