The Smart Clothing Market is likely to grow from USD 1.6 billion in 2019 to USD 5.3 billion by 2024; it is expected to grow at a CAGR of 26.2%.
The growth of this market is driven mainly by factors such as rising demand for monitoring bodily activities through the sensor, and increasing 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.
Key players in the market include:
AiQ Smart Clothing (Taiwan), Athos (US), Carre Technologies (Canada), Sensoria (US), Clothing Plus (Finland), Cityzen Sciences (France), Vulpes Electronics (Japan), DuPont (US), Wearable X (US), Applycon (Czech Republic), Toray Industries (Japan), Myontec (Finland), Myzone (US), Siren (US), and Owlet (US). These players are increasingly undertaking product launches & developments, collaboration, and partnerships to develop and introduce new technologies in the market.
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Smart clothing market for ultra-smart textile to grow at highest CAGR during 2019–2024
The demand for smart clothes for ultra-smart textile is expected to grow at the highest CAGR from 2019 to 2024. Ultra-smart textiles are the third-generation smart textiles that can sense, respond, and adapt themselves to environmental conditions or stimuli. The production of ultra-smart textiles is now a reality after the successful integration of traditional fabrics and technology with other branches of science like material science, structural mechanics, advanced processing technology, sensor and actuator technology, communication, and artificial intelligence.
Smart clothing market for upper wear product type is expected to grow at highest CAGR during the forecast period
The demand for smart clothes for upper wear product type of growing at the highest CAGR from 2019 to 2024. Smart textiles with embedded electronics have already hit the market for display-embedded shirts and gowns. Textile-integrated sensors have the potential to equip everyday clothes with smart capabilities, making the detection of body movements accessible during normal life activities. This solution records variables directly related to a wearer’s needs, such as comfort and awareness, which must be prioritized equally with the accuracy and precision of the sensor data.
Rising demand for smart clothes from various end-user industry to boost the market growth in APAC during the forecast period
China is expected to be the main contributors to the growth of the smart clothing market in APAC in the coming years. China is among the growing demands for smart clothing in Asia Pacific. The country’s manufacturing sector has witnessed massive growth, which is one of the important factors responsible for its economic development. The market in China, as a result, is projected to grow significantly in the future. Other than China, countries such as South Korea and India manufacture sensors for wearable electronics.