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Smart Clothing Market

Smart Clothing Market

Rising Consumer Interest for Real-Time Monitoring to Improve Health Boosts Smart Clothing Sales during 2021-2031

Smart Clothing Market
FACT196MR
  • Sep-2021
  • List of Tables : 322
  • List of Figures : 108
  • 170 Pages
  • Consumer Goods

Market Snapshot

According to Fact.MR’s recent study on the global smart clothing market, the market is gaining traction steadily and is expected to ascend at around 25% CAGR through 2031, registering an impressive valuation of US$ 23.28 Bn. By 2026, the market is projected to reach US$ 7.63 Bn, amid extensive uptake by professional sportspersons and the healthcare industry, the latter of which is expected to be an important beneficiary, accounting for 30% revenue.

Key Points Covered in Smart Clothing Industry Survey 

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • Assessment by Product Grade / Purity / Formulation Standards
  • Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
  • Certifications and Compliance Requirements
  • COVID-19 Impact on the Smart Clothing Industry and How to Navigate
  • Recommendation on Key Winning Strategies

Consumption Analysis of Smart Clothing from 2016-2020 Vs Outlook 2021-2031

As per Fact.MR – market research and competitive intelligence provider, during the historic period of 2016 to 2020, the market expanded at an impressive 10% CAGR and registered nearly US$ 2 Bn by 2020.

The need to avoid sports injuries and improve the performance of athletes could cause a surge in the growth of the global market. Furthermore, an increase in the contract cost of athletes is also anticipated to improve the demand in the global market for smart clothing.

Another factor that could enhance the rise of the market is the increase in investment of sports associations in smart clothing. The global market is forecast to benefit from increased competition with fitness tracker manufacturers. Considering these factors, the global smart clothing market is slated to expand at 25% CAGR over the next ten years (2021-2031), and reach a valuation of over US$ 23.28 Bn by 2031.

How is Deepening Smart Technology Penetration Impelling Demand?

As technological advancements proliferate, demand for smart shirts, jackets, vests, and other upper wear is creating growth opportunities for the market players by opening various opportunistic avenues. Consumers are increasingly seeking approaches which would help them monitor their health & well-being.

A smart shirt, for instance, comes with the ability to offer biometric data such as heart rate, breathing rate, and muscle activity, which enables an athlete to perform optimally and plan his or her workout professionally. Data gets captured in real-time and the insights like intensity and recovery, calories burned, fatigue level and sleep quality are saved in a companion app. 

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What Role is R&D Playing in the Growth of Smart Clothing Industry?

Various companies are working on their research and development activities in order to acquire a major market share. For instance, Rice University Lab developed a “smart clothing” idea by employing its conductive nanotube thread to weave functionality into regular apparel. 

Researchers sewed nanotube fibers into athletic wear to monitor the heart rate and take a continual electrocardiogram (EKG) of the wearer. The shirt they enhanced gathers more data than a standard chest-strap monitor taking live measurements during experiments and the carbon nanotube shirt gives slightly better EKGs.

High Demand from Professional Athletes Spurring Smart Clothing Adoption?

The global market for smart clothing is prophesied to expect high growth opportunities due to the increased adoption of smart products by professional athletes. Smart clothing helps athletes avoid potential injuries and optimize their performance level. Increasing sports budget and heavy spending on smart clothing for athletes are foreseen to work in the favor of the market.

For instance, in 2017, Under Armor launched a sleep and recovery system which includes Athlete Recovery sleepwear powered by TB12 and a new UA Record app experience, both designed to improve sleep and overall athlete performance. The sleepwear absorbs heat from the wearer’s body while releasing infrared light to increase sleep quality and improve muscle recovery.

Even sports associations have realized how smart clothing helps athletes to evaluate their own performance and improve it for future challenges. On the other hand, the demand for remote patient monitoring is expected to impel market growth.

An Adaptive Approach to Modern-day Research Needs

Region-Wise Analysis

Why is North America an Attractive Smart Clothing Landscape?

Regionally, North America is prophesied to take the driver’s seat of the demand for smart clothing. By the end of 2022, the developed region could collect revenue worth US$ 1.8 Bn. Long-term prospects appear even more promising, clocking a CAGR of 10% until 2031.

The improving economic conditions, increasing awareness regarding health and fitness, and higher purchasing power is motivating the people across the region to invest in smart clothing as a part of shifting towards a fitter lifestyle. Moreover, the presence of various players in the region is propelling growth in the region.

What is the Demand Outlook for Smart Clothing across Asia?

According to Fact.MR research, Asia is prognosticated to exhibit quicker growth is owing to the advent of startups and improvisation in knowledge sharing to obtain growth in the near future. A CAGR of 14% is projected for this region until 2031.

In April 2021, MIT researchers unveiled a line of “smart clothes” that are able to track every physical movement. According to the scientists at Fudan University in China, they’ve created state-of-the-art electronic textiles which are able to produce moving, visual images, such as GPS directions.

Likewise, the Indian market has opened up major growth avenues for smart clothing solutions. Although in its nascent stages, the market is due to receive major traction, with numerous start-ups such as SYGNAL, LECHAL, BOLLT and Arrow experimenting with numerous product designs.

How is the European Region Projected to Perform?

In Europe, high competition with manufacturers of fitness trackers is projected to augur well for the market. Smart fabrics are researched to offer more accurate results and measurements compared to fitness trackers. This has led to the steady growth of smart clothing in the region.

Technologies such as RFIDs for inventory tracking and sensor based clothes for the medical industry are all expected to contribute a significant proportion of revenue to the European market for smart clothing. From 2021 to 2031, Fact.MR expects the market to surge at over 12% CAGR.

Smart clothing market forecast analysis by Fact.MR

Category-wise Insights

Why are Smart Shirts Surging in Popularity?

By product type, demand for smart shirts is expected to surge robustly, with Fact.MR anticipating a value CAGR worth 14% across the 2021-2031 assessment period. Smart shirts are equipped with advanced sensors which help monitor heart health.

In addition, smart shirts help manage diabetes, relax muscles, and improve overall quality of life. Numerous manufacturers are capitalizing on this opportunity. One such player is Samsung- which, in December 2020, entered the Indian market by launching its smart clothing care solution AirDresser, helping refresh and revitalize clothes without washing.

Why is the Healthcare Industry a Key Beneficiary of Smart Clothing Solutions?

By industry vertical, the healthcare industry is expected to generate maximum smart clothing demand, given its potential to making clinical trials more patient-compatible while providing more precise, real-time data to healthcare professionals.

Technologies such as smart sensors are being deployed across medical clothes which provide a continuous stream of data to researchers. Additionally, smart clothes have enable practitioners to execute remote patient care more efficiently. Hence, Fact.MR projects the industry to account for nearly 30% of the global market.

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Competitive Landscape 

A rising number of partnerships in the global smart clothing industry is expected to introduce more fashionable, comfortable, and functional products, broadening outreach of prominent players. Some notable developments are as follows:

  • Sensoria Inc., for instance, has been partnering with MYZONE to deliver comfortable and accurate heart rate monitoring garments since the past 5 years, with some of the first products being the Sensoria T-Shirt and MYZONE Powered Sports Bra respectively
  • In December 2017, TexRey Industrial Co. Ltd. launched the new multi-bio monitoring smart apparel in the Yi-Deng Nursing Center. With this product launch, the center is able to enhance surveillance and monitoring of hospitalized patients by collecting their personal bio-data, making long-term care permissible

Report Scope 

Attribute

Details

Market size value in 2020

US$ 2.5 Bn

Market forecast value in 2031

US$ 23.28 Bn (approx.)

Growth Rate

25% CAGR

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & 000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Nordics
  • China
  • Japan
  • India
  • ASEAN
  • Australia
  • Brazil
  • Mexico
  • Argentina
  • Nigeria
  • Israel
  • GCC
  • South Africa

Key Market Segments Covered

  • Product Type
  • Application
  • Technology
  • Industry Verticals
  • Region

Key Companies Profiled

  • Sensoria Inc.
  • OMsignal Inc.
  • CuteCircuit Ltd.
  • Carre Technologies Inc.
  • MAD Apparel Inc.
  • Wearable X
  • Medtronic Plc.
  • Tex-Ray Industrial Co. Ltd.
  • Sensatex Inc.
  • Noble Biomaterials Inc.

Pricing

Available upon Request

Key Segments Covered

  • Product Type

    • Smart Socks
    • Smart Insoles
    • Smart Pants
    • Smart Jackets
    • Smart Shirts
    • Smart Dresses
    • Smart Suits
    • Smart Scarves
    • Smart Bras
    • Smart Shoes
  • Application

    • Embedded Electronics Smart Clothing
    • Attached Electronics Smart Clothing
  • Technology

    • Ultra-Smart Clothing
    • Passive Smart Clothing
    • Active Smart Clothing
  • Industry Vertical

    • Healthcare Smart Clothing
    • Industrial Smart Clothing
    • Military Smart Clothing
    • Athletic Smart Clothing

- FAQs -

As of 2020, the global smart clothing market was valued at over US$ 2 Bn according to Fact.MR 

From 2016 to 2020, demand for smart clothing surged at around 10% CAGR

The market for smart clothing will likely surge at a CAGR of 25% from 2021 to 2031

Smart clothing demand is envisaged to account for US$ 23.28 Bn by 2031

Increased awareness regarding monitoring body health is spurring smart clothing demand

By 2022, smart clothing sales in North America will likely reach US$ 1.8 Bn

Sales of smart clothing across Europe will likely surge at 12% CAGR

Asia is projected to be the fastest growing market, clocking a 14% CAGR until 2031

Smart shirts will experience maximum growth, at a CAGR of 14% until 2031

Smart clothing for the healthcare industry will remain prominent, capturing 30% of market demand

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

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