Global Smart Clothing Market Sales Projected To Reach Approximately US$ 5,000 Mn Revenues By 2022

Posted on 2018-07-02 by Mark Hub in Industrial, Retail // 0 Comments

ROCKVILLE, US, 2018-Jul-02 — /EPR Network/ — The global market for smart clothing will register a steady expansion during 2017 to 2022, according to a new study by FactMR. Revenues from the global smart clothing market are poised to reach nearly US$ 5,000 Mn by 2022-end. Smart clothing are fabrics, which enable electronics, and digital components to be integrated in them. These fabrics, developed with new technologies, render added value to users. These textiles differ from wearable computing, owing to the higher emphasis on seamless integration of electronic elements such as actuators, sensors, and microcontrollers into textiles. Smart clothing can be bifurcated into two important categories viz. performance enhancing, and aesthetic.

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Over the past few years, professional athletes are increasingly adopting smart products, such as those of smart clothing, for optimizing their performance level, and preventing potential injuries. The sports associations are spending heavily on these products for eliminating possibility of any injury, with the rise in contract costs of athletes. In addition, demand for remote patient monitoring has witnessed a surge, with increasing incidences of hospital staff injuries. A major development trend being observed in smart clothing market is the competition with fitness trackers. Smart clothing are more beneficial as compared to wrist bands, for example – smart fabrics are capable of measuring foot landing, stride rate & length, and muscle activity, providing relatively more accurate measurements than fitness trackers. Manufacturers of smart clothing (also known as e-textiles), both fitness as well as fashion ones, have started cooperating with the innovative technological companies, which will boost the market growth in the near future. These partnerships are expected to make smart clothing more functional, comfortable, and fashionable, along with the provision of higher performance.

Another promising field for adoption of smart clothing is the corporate uniform worn in sectors such as education, hospitality, transportation, public safety, and medicine. Here, smart clothing offers communication between a specialist and his/her team, thereby increasing the productivity. However, factors such as unawareness among individuals concerning utilization of smart clothing, coupled with their high costs, are expected to pose challenges to the market growth. High costs of smart clothing may be attributed to variety of sensors incorporated to monitor physiological activities, along with the surge in prices of conductive fabric utilized for manufacturing.

Competition Tracking

Key market players identified in FactMR’s report on the global smart clothing market include Sensoria Inc., OMsignal Inc., CuteCircuit Ltd., Carre Technologies Inc., MAD Apparel Inc., Wearable X, Medtronic plc, Tex-Ray Industrial Co. Ltd., Sensatex, and Noble Biomaterials, Inc.

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Shirts to Outsell all other Product Segments in Global Smart Clothing Market

Estimated to account for the largest revenue share, shirts will continue to outsell all the other products in the global smart clothing market. Data acquired by smart shirts including muscle engagement, heart rate, and perspiration rate boost the efficiency of users. Shoes are expected to be the second most lucrative product in the market over the forecast period. In addition, suits and bras are expected to be the fastest-selling product in the market, exhibiting similar CAGRs through 2022.

Passive smart textile technology will retain its dominance in the global market, followed by ultra-smart textile technology. Attached electronics application of smart clothing will surpass revenues worth US$ 2,500 Mn by 2022-end. Based on industry vertical, healthcare smart clothing will account for over one-fourth revenue share of the market, and will retain its dominance in the global smart clothing market throughout the forecast period.

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.

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About FactMR
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Retail & Consumer Goods Market Research Reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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