Analysis on the World's Smart Clothing Market 2019-2024 - High Cost of Products & Technical Complications Hamper Growth Potential

DUBLIN, Nov. 26, 2019 /PRNewswire/ -- The "Smart Clothing Market by Textile Type, Product Type (Upper Wear, Lower Wear, Innerwear, and Others), End-User Industry (Military & Defense, Sports & Fitness, Fashion & Entertainment, Healthcare), and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The smart clothing market was valued at USD 1,104 million in 2018 and is projected to reach USD 5,285 million by 2024 at a CAGR of 26.2% during the period from 2019 to 2024. The smart clothing market has been segmented based on textile type, product type, end-user industry, and geography.

Smart clothing market to grow at CAGR of 26.2% from 2019 to 2024

The growth of this market is driven mainly by factors such as rising demand for monitoring bodily activities through sensors and increasing the adoption of smart clothes for various end-user industries. Growing awareness about the need for sports & fitness is expected to create significant growth opportunities for players in the smart clothing market during the forecast period. However, the high cost of products restrains the growth of the market.

Upper wear product type to hold a significant share of the smart clothing market by 2024

High demand for upper wear product types in various end-user industries provides opportunities for the growth of the smart clothing market. Smart shirts and bodysuits provide biometric data, such as pulse rate, temperature, muscle stretch, heart rhythm, and physical movement. This data is transmitted via Bluetooth to an app in real-time. Hence, increasing demand for the upper wear product type used in various end-user industries for multiple purposes is expected to provide ample opportunities for the smart clothing market.

Military & defence to hold a significant share of the smart clothing market by 2024

The smart clothing market for military & defence accounted for the largest share in 2018. Smart clothing has become a key component in the creation of new military uniforms designed to improve the health of the soldier while providing field insight. Smart clothing provides wound detection and protection against injuries, and facilitate health and stress monitoring. Smart clothing solutions for the military are being funded by governments in various countries.

North America to be the largest shareholder in smart clothing market by 2024

North America is expected to hold the largest share of the smart clothing market during the forecast period. The reason for this market dominance is the increasing demand in the region for smart clothing in industries, such as military & defence; healthcare; sports & fitness; and fashion & entertainment. Another important factor is the increase in technological innovations and advancements, which has led to the introduction of new products. The use of smart clothing is rising continuously in the US, with the increasing demand for fitness wear and health & wellness monitoring applications.

Key Players Profiled

• AiQ Smart Clothing (Taiwan)
• Athos (US)
• Carre Technologies (Canada)
• Sensoria (US)
• Clothing Plus (Finland)
• Cityzen Sciences (France)
• Vulpes Electronics (Japan)
• DuPont (US)
• Werable X (US)
• Applycon (Czech Republic)
• Toray Industries (Japan)
li>Myontec (Finland)
• Myzone (US)
• Siren (US)
• Owlet (US)

The report would help market leaders/new entrants in the smart clothing market in the following ways:

1. This report segments the smart clothing market comprehensively and provides the closest approximation of the overall, as well as segment-based, market size across different textile type, product type, end-user industry, and regions.
2. The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities for the growth of the market.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, along with the product launches and developments; collaboration and partnerships strategies implemented by key players in the market.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities for Smart Clothing Market
4.2 Market, By Product Type
4.3 Market, By End-user Industry and Country
4.4 Geographic Snapshot of the Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Demand for Monitoring Bodily Activities Through Sensor
5.2.1.2 Increasing Adoption of Smart Clothes for Various End-user Industries
5.2.2 Restraints
5.2.2.1 High Cost of Products
5.2.3 Opportunities
5.2.3.1 Growing Awareness About the Need for Sports & Fitness
5.2.4 Challenges
5.2.4.1 Technical Complications

6 Market, By Textile Type
6.1 Introduction
6.2 Active Smart
6.2.1 Sports and Fitness Segment in Active Smart to Grow at Highest CAGR in the Forecast Period.
6.3 Passive Smart
6.3.1 Military and Defense to Occupy Largest Market in the Passive Smart in Market.
6.4 Ultra-Smart
6.4.1 Sports and Fitness to Occupy the Largest Market in the Forecast Period for Ultra Market.

7 Market, By Product Type
7.1 Introduction
7.2 Upper Wear
7.2.1 Upper Wear Segment to Account for Largest Share of Market During Forecast Period
7.3 Lower Wear
7.3.1 Lowerwear Segment to Capture A Significant Share in Market for Sports & Fitness During Forecast Period
7.4 Innerwear
7.4.1 Market for Innerwear Projected to Be Largest in Market for Military & Defense Industry During Forecast Period
7.5 Others

8 Market, By End-User Industry
8.1 Introduction
8.2 Military & Defense
8.2.1 Upper Wear Segment to Dominate the Market for Military and Defense During the Forecast Period
8.3 Sports & Fitness
8.3.1 Market for Sports and Fitness in APAC Region to Grow at Fastest CAGR During the Forecast Period
8.4 Fashion & Entertainment
8.4.1 North America Market to Dominate the Fashion and Entertainment Vertical in the Forecast Period.
8.5 Healthcare
8.5.1 APAC to Register Highest Growth Rate for Healthcare in the Forecast Period
8.6 Mining
8.6.1 North America Market to Dominate the Market in the Forecast Period
8.7 Others
8.7.1 APAC Region to Grow at Highest CAGR in Forecast Period for Verticals Such as Construction, Transportation and Automotive

9 Market, Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Presence of Leading Smart Clothing Manufacturers in North America Driving the Market Growth in the US
9.2.2 Canada
9.2.2.1 Growth of the IoT Platform and Its Related Components Propelling the Growth of the Market
9.2.3 Mexico
9.2.3.1 Rising Adoption of New and Innovative New Technologies in Manufacturing Processes Propelling the Growth of the Market
9.3 Europe
9.3.1 Germany
9.3.1.1 Advancements in Wearable Technology, Growing Awareness, and Inclination Toward Smart Clothing Driving the Market During the Forecast Period
9.3.2 UK
9.3.2.1 Adoption of Smart Clothes for the Sports & Fitness Industry Driving Market Growth in the UK
9.3.3 France
9.3.3.1 Increasing Demand for Portable Electronic Products From the Healthcare Industry
9.3.4 Italy
9.3.4.1 Increasing Demand for Fitness Bands and Health Monitoring Wearables Drive Market During the Forecast Period
9.3.5 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.1.1 China to Witness Rapid Growth in the Global Market During the Forecast Period
9.4.2 Japan
9.4.2.1 Japan Witnesses the Highest Demand for Smart Clothes From the Military & Defense Industry
9.4.3 India
9.4.3.1 Health Monitoring to Be A Market Driver in the Country in the Coming Years
9.4.4 South Korea
9.4.4.1 Upgradation of Technology and Innovation Driving the Market in South Korea
9.4.5 Rest of Asia Pacific
9.5 Rest of the World(RoW)
9.5.1 South and Central America
9.5.1.1 Brazilian Market Propelling the Smart Clothing Market in the Region
9.5.2 Middle East and Africa (MEA)
9.5.2.1 Multiple Factors Driving the Market in the Middle East & Africa

10 Competitive Landscape
10.1 Introduction
10.2 Market Player Ranking Analysis
10.3 Competitive Leadership Mapping
10.3.1 Visionary Leaders
10.3.2 Dynamic Differentiators
10.3.3 Innovators
10.3.4 Emerging Companies
10.4 Competitive Benchmarking
10.4.1 Strength of Product Portfolios (15 Companies)
10.4.2 Business Strategy Excellence (15 Companies)
10.5 Competitive Scenario
10.6 Competitive Situations & Trends
10.6.1 Product Launches/Developments
10.6.2 Collaborations/Partnerships

11 Company Profiles
11.1 Key Companies
11.1.1 AiQ Smart Clothing
11.1.2 Athos
11.1.3 Carre Technologies Inc. (Hexoskin)
11.1.4 Sensoria Inc.
11.1.5 Cityzen Sciences
11.1.6 Applycon S.R.O.
11.1.7 Clothing Plus
11.1.8 Dupont
11.1.9 Vulpes Electronics
11.1.10 Wearable X
11.2 Other Key Companies
11.2.1 Myontec
11.2.2 Myzone
11.2.3 Owlet
11.2.4 Siren
11.2.5 Toray Industries Inc.

For more information about this report visit https://www.researchandmarkets.com/r/6g1wiq

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