New York, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Smart Clothing Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Active, Passive, and Ultra-Smart), Orientation Type (Apparel, Footwear, Wearable Patches, and Others), Connectivity (Wi-Fi, Bluetooth, GPS, and RFID), End-User (Healthcare, Fashion and Lifestyle, Sport and Fitness, Military, and Others)” The global smart clothing market growth is driven by smart textiles have garnered significant popularity in the area of healthcare and related domains.
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| Market Size Value in | US$ 1.14 Billion in 2019 |
| Market Size Value by | US$ 6.41 Billion by 2027 |
| Growth rate | CAGR of 24.4% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
| No. of Pages | 198 |
| No. Tables | 115 |
| No. of Charts & Figures | 96 |
| Historical data available | Yes |
| Segments covered | Type , Orientation Type , Connectivity , End-User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Smart clothing products are designed and manufactured by integrating smart technologies to offer fabric with different functionalities. The growing use of these products across industries such as healthcare, military, sports, and defense would drive smart clothing market growth in the coming years. Increasing sport injuries and surging military and defense sector investments are also boosting the demand for smart clothing products.
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The global smart clothing market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Smart Clothing market with respects to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in thesmart clothing market.
Smart clothes are designed and manufactured with the integration of smart technologies to offer different functionalities to them. The growing use of smart clothing and increasing investments in the same across the healthcare, military, sports, and defense industries can influence market growth over the coming years. Rising number of sport injuries, coupled with increased investments in the military and defense industries, would boost demand these products. High preference for body activity monitoring via sensors can further stimulate the market growth. Growing consumer awareness about fitness is likely to fuel market growth. Further, shifting athletes' preference toward smart clothing to prevent possible injuries and boost their performance may spur market growth during the forecast period.
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COVID-19 Impact on Smart Clothing Market
The impact of COVID-19 variesin different countriesacross the world due to the varying number of confirmed cases in these countries; countries with greater number of active cases and deaths have subsequently imposed stringent as well as longer lockdown periods or social isolation. In countries such as Italy and Spain,there has been a dip in the demand for smart clothing or other services owing to notable number of COVID-19 cases. The spread of pandemic is expected to have a short-term impact on the smart clothing market. However, the smart clothing market is likely to exhibit positive growth in post-pandemic period.
Fast turnaround time, low operating cost, and easily accessible service points increase the adoption of smart textiles. Further, demand for smart clothing is expanding at an impressive pace due to the mounting demand for mining and oil &gas exploration activities. The smart clothing market, by type, is segmented into passive, active, and ultra-smart. Smart clothing enables better communication with other devices, analyze and sense the stimuli, and protect the wearer from environmental hazards.
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