Smart Clothing Market : Technological Advancement & Growth Analysis with Forecast to 2024

Smart clothing market, despite still being in the embryonic stage, has already garnered much of the attention of the tech-giants who are recently seen pouring in a substantial amount of capital in order to develop this wearable technology and expand its application spectrum. Companies ranging from Nike and Under Armour to Microsoft and Google parent Alphabet are considering smart clothing as the future of the wearable devices industry and are hunting for more technical know-how. Alphabet's Google, for instance has partnered with Levi Strauss with an aim to introduced its smart jackets made of denim. This allows users to interact with devices and control their smartphones through gestures alone, thanks to the emergence of new techniques that allow effortless weaving of semiconductors and sensors directly into the fabrics.

MarketStudyReport.com Adds New Smart Clothing Market 2017 – 2024 research report providing information and data By Product, By Application, Industry Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast spreading across 180 Pages with table and figures in it.

Smart Clothing Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a Steady CAGR to 2024.

Growing adoption of smart products by professional athletes to optimize the performance level and prevent potential injuries is anticipated to drive the smart clothing market across the globe. Due to the increasing contract costs of athletes, the sports associations are heavily spending on these products to eliminate the possibility of any injuries. The surge in demand for remote monitoring of patients followed by hospital staff injuries also provides significant growth opportunities to the smart clothing market. Smart Clothing Market size is set to exceed USD 4 billion by 2024, and shipments are forecast to grow at over 50% CAGR.

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Rising awareness associated with fitness coupled with the demand for monitoring body activities such as blood pressure & heart rate is expected to catapult the smart clothing market demand. The launch of products with advanced specifications such as tracking muscle activity offer lucrative opportunities. Moreover, other features include reduction & prevention of sports injuries resulting from improper warm up and exertion. Increasing adoption for sensor enabled products eliminates the use of smart wearables for specific functionality. Rapid urbanization coupled with the growing consumer participation in health & fitness clubs is anticipated to positively impact the smart clothing market over the forecast timeline.

Factors such as high cost coupled with lack of awareness among individuals regarding the use of these products is challenging the smart clothing market. The high cost of the products can be attributed to the various type of sensors for monitoring physiological activities coupled with the rising cost of conductive fabrics used for manufacturing.

Smart jackets can control the mobile device of the user followed by features such as one tap answering & rejecting calls and connect to music & camera services. Smart t-shirt segment is predicted to grow significantly owing to the data offered by these products such as perspiration rate, heart rate and muscle engagement which are analyzed for increasing the efficiency of the wearer.

Sports & fitness applications are set to witness steady growth over the forecast timeline. This can be attributed to the increasing use of products such as t-shirts, pants & shoes by professional athletes as well as sports teams to lessen injuries. High adoption of smart uniforms in military & defense applications is expected to drive the industry size. Features such as collection of vital signs and using the data to gain insight to the soldier’s heath during battles.

The U.S. smart clothing market is anticipated to grow substantially due to the increased spending by various sports clubs to enhance the efficiency level of the players followed by injury detection. Increasing military & defense investments for the development of uniforms provides lucrative opportunities to the industry.

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Players operating in the industry include Hexoskin, Heddoko Inc., Ralph Lauren, Athos, Sensoria Inc. and Catapult Sports Pty Ltd, etc. The industry is currently witnessing collaborations between the players and sports associations. Competition is expected to intensify on account of the increasing entry of new entrants in the smart clothing market.

Table of Content:

Chapter 1 Methodology & Scope

Chapter 2 Executive Summary

Chapter 3 Smart Clothing Market Industry Insights

Chapter 4 Smart Clothing Market, By Product

Chapter 5 Smart Clothing Market, By Application

Chapter 6 Smart Clothing Market, By Region

Chapter 7 Company Profiles

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Outside scope of this Report: Recently, a luxury clothing retailer Tommy Hilfiger has made it to the front page for its release of smart clothing collections that are equipped with Bluetooth chips. According to the reports, the new Tommy Jeans Xplore allows the wearers to track movements via an app and rewards them on physically going to the locations marked on a map. Other industry participants who are quick to embrace the new technology include biggies such as Samsung, OMSignal, and Hexo Skin. These players are thinking about several ways to make the smart clothing trend a common place. With the ongoing research and advancements in sensor technology, it is projected that the global smart clothing market will facilitate massive growth opportunities across sports & fitness, healthcare, military, and industrial applications.

Related Report:

United States Smart Clothing Market Report 2018

In this report, the United States Smart Clothing market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.

https://www.marketstudyreport.com/reports/united-states-smart-clothing-market-report-2018/?utm_source=RR-PSR

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Posted by on Sunday September 16 2018, 1:45 PM EDT. All trademarks acknowledged. Filed under Business Services, Consumer & Retail, Featured Press Release, Luxury Goods, Technology Hardware & Equipment. Comments and Trackbacks are open. Follow responses: RSS 2.0

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