AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Global Smart Clothing Market by Textile Type, Product Type, End-user Industry & Geography - Forecast to 2024 - ResearchAndMarkets.com

November 25, 2019 GMT

DUBLIN--(BUSINESS WIRE)--Nov 25, 2019--

The “Smart Clothing Market by Textile Type, Product Type (Upper Wear, Lower Wear, Inner wear, 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

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/4upimj

View source version on businesswire.com:https://www.businesswire.com/news/home/20191125005490/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY TEXTILES MANUFACTURING

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 11/25/2019 09:12 AM/DISC: 11/25/2019 09:12 AM

http://www.businesswire.com/news/home/20191125005490/en