North America will remain the largest market for smart clothing, in terms of revenues. Revenues from the market in North America are expected to reach roughly US$ 1,800 Mn by 2022-end. However, smart clothing market in Asia-Pacific excluding Japan (APEJ) is projected to register the highest CAGR through 2022. The improvising in knowledge sharing, and advent of small startups will contribute to growth of the market in APEJ.
Rockville, WA — (SBWIRE) — 07/18/2018 — The global smart clothing market is anticipated to gather pace in its growth due to increasing demand from professional athletes adopting smart products to avoid potential injuries and optimize their performance level. With increase in contract cost of athletes, sports associations are reserving a large amount of funds for the purchase of smart clothing to eliminate the possibility of any type of injury in future. Rising incidence of hospital staff injuries is expected to increase the need for smart clothing.
High competition with fitness trackers is considered to be one of the significant development trends of the global smart clothing market. In comparison with wrist bands, smart clothing is studied to offer more benefits – this could be evidenced by the ability of smart fabrics to provide more accurate measurements such as those related to stride length and rate and foot landing.
As per the finding of Fact.MR, the global smart clothing market could attain a valuation of close to US$5.0 bn by the end of 2022 while growing at a steady rate between 2017 and 2022.
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Smart Clothing Manufacturers Partner with Technology Companies to Boost Growth
In the foreseeable future, the growth of the global smart clothing market is prognosticated to gain a telling boost due to increased collaboration between e-textile manufacturers and companies dealing with novel technologies. This trend could be observed in the fitness as well as fashionable smart clothing domains. Besides the advantage of higher performance, the collaboration could allow the development of more comfortable and functional smart clothing.
Uniforms worn in a promising range of industries which include medicine, public safety, transportation, hospitality, and education may require the adoption of smart clothing. Companies operating in these industries could improve their productivity with the use of smart clothing since it enables fast communication between specialists and their teammates. In this regard, it could be said that the global smart clothing market could see strong growth in the coming years.
Leading Segment Smart Shirts Help with Critical Data to Improve User Efficiency
On the basis of type of product, the global smart clothing market could see a classification into socks, insoles, pants, jackets, shirts, dresses, suits, scarfs, bras, and shoes. Among these products, the market could witness the rise of shirts accounting for a lion's share in the next few years. Shirts are also expected to outperform other products in terms of sale. Shirts help to acquire data related to perspiration rate, heart rate, and muscle engagement, which could prove to be vital for increasing efficiency of users. Shoes could be next on the list of higher revenue generators of the market. On the other hand, bras and suits are predicted to show faster growth in the market.
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By technology, the global smart clothing market could be classified into ultra, active, and passive smart textiles. Trailed by ultra-smart textiles, passive smart textiles are envisioned to dominate the market in the near future. With respect to application, there could be segments such as embedded and attached electronics. By the end of the forecast period, the market could testify the lead secured by attached electronics collecting a US$2.5 bn in revenue. By industry vertical, it could be segregated into healthcare, industrial, military, and athletic smart clothing. Until the final forecast year, healthcare is projected to continue with its dominance in the market. It could secure a fourth of the total revenue share of the market.
North America could take a commanding position in the global smart clothing market in terms of revenue. On the other hand, APEJ is prophesied to post a higher CAGR. Some of the leading players of the market are CuteCircuit Ltd., OMsignal Inc., and Sensoria Inc.
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