The demand for smart clothing in 2017 was that of 197,382 units. The market is expected to witness growth at Compound annual growth rate (CAGR) of 17% from 2018 to 2026. The demand should pass 810,925 units by 2026. Increasing public spending towards defense sector to adopt technological upgradation for monitoring the health and movements of army personnel coupled with the adoption of fast detection and healing techniques of wounds is expected to drive the global smart clothing market during the forecast period. In addition, growing awareness towards health and fitness to improve the standard of living, many fitness equipment brands and healthcare institutes are further estimated to create new necessities and augment the market of growth over the forecast period of 2018-2026.
The market has been segmented based on products which is further divided into shirts, pants, undergarments, socks and jackets. Based on component the market has been segmented as sensors, wires & connectivity, storage device, energy source and others. Based on end-user, the market has further segmented as healthcare, military, sports & fitness, entertainment and industrial. Increasing demand of smart clothing by the sports personnel and athletes coupled with the rise in demand to minimize incidence of wounds and cuts and recovery time among the sports person is expected to drive the global market during the forecast period.
The global smart clothing market has been geographically segmented into Asia-Pacific, Europe, North America, Latin America, the Middle East and Africa region. In addition to this, North America region holds the largest market share. The reason may be attributed to the rapid adoption rates of advanced technologies towards healthcare and sports sector. In addition, US government has allocated a significant portion of their budget to improve the healthcare monitoring systems of defense personnel as it helps in the detection of wounds and reactive elements in their body. In addition, increasing spending towards adopting smart clothing to reduce the incidence of wounds among sports personnel coupled with the rising awareness regarding fitness are expected to drive the Europe market during the forecast period.
Some of the key players in the global smart clothing market include Athos. Catapult Sports Pty Ltd, Heddoko Inc., Hexoskin, InteraXon, Lumo Bodytech Inc., OMSignal, Ralph Lauren, Sensoria Inc and Thethings.io.
· Wires and Connectivity
· Storage Device
· Energy Source
· Sports and Fitness
· North America
o Rest of Europe
· Asia Pacific
o Rest of Asia Pacific
· Middle East and Africa
o South Africa
o Rest of Middle East and Africa
· Latin America
o Rest of Latin America
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