The smart clothing market is projected to grow at a CAGR of 32.18% during the forecast period, reaching a total market size of US$840.151 million in 2024 from US$157.501 million in 2018. Smart clothes, also referred to as smart textiles and e-textiles, are clothing items that use technology to add features and functions beyond that of traditional use. Technologists are using a combination of sensors, machine learning, and big data analysis to provide consumers more data about their bodies and lives than ever before. The growth of the market has been substantiated due to the rising demand for the product by professional athletes and sports teams for preventing injuries and rapid urbanization. Smart clothing is growing in the sport and health sector and is being increasingly implemented in everyday objects due to growing awareness for fitness coupled with the demand for monitoring body activities. It represents the next generation of clothes with value-added functionality like tracking an individual’s biometrics, response to environmental changes, and more. These clothes unlike other smart wearables (smartwatches) do not require charging. Thus, companies are shifting their focus towards developing smart clothes instead of focusing only on smartwatches and smart bands. Similarly, the increasing investment in military & defense helps in providing wound detection, protection against injuries, and health and stress monitoring. However, high cost, lack of awareness among various segments of the population, and the threat to data privacy are the various challenges faced by the market which is hindering the growth.
The Smart Clothing Market – Forecasts from 2019 to 2024 is an exhaustive study of this niche technology market which aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key markets, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by product type, application, and geography.
The smart clothing market has been segmented based on product type, application, and geography. Based on product type the market has been segmented into t-shirts, pants, shoes, and others. By application, the market has been classified into sports & fitness, healthcare, and military & defense.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the smart clothing market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the smart clothing market.
|Market size value in 2018||US$157.501 million|
|Market size value in 2024||US$840.151 million|
|Growth Rate||CAGR of 32.18% from 2018 to 2024|
|Forecast Unit (Value)||USD Million|
|Segments covered||Product Type, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Mad Apparel Inc., Carre technologies (Hexoskin) Inc., Sensoria, AiQ Smart Clothing, Interactive Wear AC, Seismic Apparels, Wearable Technologies Ltd., Under Armour Inc.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the smart clothing market size by 2024?
A1. The smart clothing market is anticipated to reach a total market size of US$840.151 million in 2024.
Q2. What are the growth prospects for smart clothing market?
A2. The global smart clothing market is anticipated to grow at a CAGR of 32.18% during the forecast period.
Q3. What is the size of global smart clothing market?
A3. Smart Clothing market was valued at US$157.501 million in 2018.
Q4. What factors are anticipated to drive the smart clothing market growth?
A4. The growth of the market has been substantiated due to the rising demand for the product by professional athletes and sports teams for preventing injuries and rapid urbanization.
Q5. How is the global smart clothing market segmented?
A5. The smart clothing market has been segmented based on product type, application, and geography.
Mad Apparel Inc.
AiQ Smart Clothing
Interactive Wear AC
Wearable Technologies Ltd.
Under Armour Inc.
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