By 2027, the global smart clothing market will reach $6.41808 billion, with a compound annual growth rate of 24.4%: Insights on Partners-Digital Journal

2021-12-15 00:54:41 By : Mr. szoceantech ocean

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According to our latest market research on "Global Smart Clothing Market Forecast to 2027-COVID-19 Impact and Global Analysis-By Type (Active, Passive and Super Smart), Positioning Type (Clothing, Footwear, Wearable Patch, etc.)" , Connectivity (Wi-Fi, Bluetooth, GPS, and RFID), end users (healthcare, fashion and lifestyle, sports and fitness, military, etc.), and geography, "The market value in 2019 is US$1.14309 billion and is expected to reach US$6.41808 billion; the compound annual growth rate is expected to be 24.4% from 2020 to 2027. The report focuses on the key factors driving market growth, as well as prominent participants and their development in the market.

Strategic Insight        

 The compound annual growth rate for 2020-2027 is 24.4%

Number of charts

 Type, direction type, connectivity, end user

 North America; Europe; Asia Pacific; Latin America; Multilateral Environmental Agreements

 United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

 Revenue forecasts, company rankings, competitive landscape, growth factors and trends

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The design and manufacture of smart clothing combines smart technology to provide them with different functions. Increasing use of smart clothing and increased investment in smart clothing in the healthcare, military, sports, and defense industries may affect market growth in the next few years. Increasing sports injuries, coupled with increased investment in the military and defense industries, will drive demand for these products. A high preference for physical activity monitoring through sensors can further stimulate market growth. Increasing consumer awareness of fitness may drive market growth. In addition, in order to prevent possible injuries and improve their performance, athletes’ preference for smart clothing may stimulate market growth during the forecast period.

Fast turnaround times, low operating costs and easily accessible service points have increased the adoption of smart textiles. In addition, due to the growing demand for mining and oil and gas exploration activities, the demand for smart clothing is growing at an alarming rate. The smart clothing market is divided into passive, active, and super-smart by types. Smart clothing can better communicate with other devices, analyze and perceive stimuli, and protect the wearer from environmental hazards.

The impact of COVID-19 on the smart clothing market

Due to the different number of confirmed cases in these countries/regions, the impact of COVID-19 varies in different countries/regions around the world; countries with more active cases and deaths subsequently implemented strict and longer lockdown periods or social distancing. In countries such as Italy and Spain, the demand for smart clothing or other services has declined due to the large number of COVID-19 cases. The spread of the pandemic is expected to have a short-term impact on the smart clothing market. However, the smart clothing market is likely to show positive growth after the epidemic.

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Upper body apparel solutions are expected to drive market growth in the future

The growing demand for fashionable shirts, jackets and vests has created market growth opportunities. Smart shirts can provide biometric data such as heart rate, breathing rate, and muscle activity, which are professionally used to optimize performance and exercise plans. Data is captured and sent to all companion apps, providing insights into a range of exercise metrics, including intensity and recovery, calories burned, fatigue levels, and sleep quality. Therefore, it is expected that the increasing use of tops by various end-user applications will provide opportunities for smart clothing suppliers during the forecast period. For example, Bioman+ is a basic clothing solution suitable for various cleaning solutions. It is composed of conductive fiber-based textile electrodes used to collect the electrical activity of the human body and conductive wires used to transmit electrical signals to the processing and transmission module stuck on the clothes. Bioman+ has been validated by most industry-leading heart rate and ECG module suppliers. For new module suppliers entering this fast-growing market segment, it is still Smart Clothing's preferred partner.

Smart Clothing Market: Type Segmentation Insights

Smart clothing is designed and manufactured through integrated smart technology to provide fabrics with smart functions. The smart clothing market is divided into passive, active and super smart clothing by type. These textiles are used in a variety of applications to provide better communication, power generation, analysis and perception of stimuli than other devices, and to protect the wearer from environmental hazards.

Smart clothing market: competitive landscape and key developments

AiQ Smart Clothing Inc., Carre Technologies Inc. (Hexoskin), CUTECIRCUIT, Google LLC, Jabil Inc., Myontec Ltd, Sensoria Inc., Siren Care, Inc., Under Armour, Inc. and WEARABLE X are the major players in the world Smart clothing market. Leading companies focus on expanding and diversifying their market share, as well as acquiring new customer bases to tap existing business opportunities.

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In 2020, Levi's and Google launched a new smart jacket Commuter Jacket 2.0. Google successfully reduced the battery-powered label, reducing the jacket’s smart capabilities to more than half of the original label.

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