Dublin, March 25, 2021 (GLOBE NEWSWIRE) -- The "Smart Clothing Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type, Orientation Type, Connectivity, End-User" report has been added to ResearchAndMarkets.com's offering.
Rising trend of smart wearable fabrics in healthcare, and sports and fitness industries to support smart clothing market growth
The market was valued US$ 1,143.09 million in 2019 and is expected to reach US$ 6,418.08 million by 2027; it is estimated to grow at a CAGR of 24.4% during 2020-2027.
Smart clothes are designed and manufactured with the integration of smart technologies to offer different functionalities to them. The growing use of smart clothing and increasing investments in the same across the healthcare, military, sports, and defense industries can influence market growth over the coming years.
Rising number of sport injuries, coupled with increased investments in the military and defense industries, would boost demand these products. High preference for body activity monitoring via sensors can further stimulate the market growth. Growing consumer awareness about fitness is likely to fuel market growth. Further, shifting athletes' preference toward smart clothing to prevent possible injuries and boost their performance may spur market growth during the forecast period.
Fast turnaround time, low operating cost, and easily accessible service points increase the adoption of smart textiles. Further, demand for smart clothing is expanding at an impressive pace due to the mounting demand for mining and oil &gas exploration activities. The smart clothing market, by type, is segmented into passive, active, and ultra-smart. Smart clothing enables better communication with other devices, analyze and sense the stimuli, and protect the wearer from environmental hazards.
COVID-19 Impact on Smart Clothing Market
The impact of COVID-19 varies in different countries across the world due to the varying number of confirmed cases in these countries; countries with greater number of active cases and deaths have subsequently imposed stringent as well as longer lockdown periods or social isolation.
In countries such as Italy and Spain, there has been a dip in the demand for smart clothing or other services owing to notable number of COVID-19 cases. The spread of pandemic is expected to have a short-term impact on the smart clothing market. However, the smart clothing market is likely to exhibit positive growth in post-pandemic period.
Key Topics Covered:
1.1 Scope Of The Study
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
4. Smart Clothing Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Smart Clothing Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising trend of smart wearable fabrics in healthcare and sports & fitness industries
5.1.2 Upper body garment solution is expected to drive the market's growth in the future
5.2 Market Restraints
5.2.1 High production cost leading to limited consumer acceptance and regulatory gap
5.3 Market Opportunities
5.3.1 Growing adoption of smart clothing in fashion industry
5.4 Future Trends
5.4.1 Integration of gesture recognition in smart clothing
6. Smart Clothing Market - Global Analysis
6.2 Global Smart Clothing Market Revenue And Forecasts To 2027 (US$ Mn)
6.3 Market Positioning - Five Key Players
7. Smart Clothing Market - By Type
7.2 Smart Clothing Market, By Type(2019 and 2027)
8. Smart Clothing Market Analysis - By Product
8.2 Smart Clothing Market, By Product (2019 and 2027)
8.5 Wearable Patches
9. Smart Clothing Market Analysis - By Connectivity
9.2 Smart Clothing Market, By Connectivity (2019 and 2027)
10. Smart Clothing Market Analysis - By End User
10.2 Smart Clothing Market Breakdown, by End User, 2019 & 2027
10.4 Sport and Fitness
10.5 Fashion and Lifestyle
11. Smart Clothing Market - Geographic Analysis
12. Impact of COVID-19 Pandemic on Global Smart Clothing Market
13. Smart Clothing Market - Industry Landscape
13.1 Market Initiative
13.2 New Development
14. Company Profiles
14.1 Key Facts
14.2 Business Description
14.3 Products and Services
14.4 Financial Overview
14.5 SWOT Analysis
14.6 Key Developments
AiQ Smart Clothing Inc.
Carre Technologies Inc(Hexoskin)
Under Armour, Inc.
Siren Care, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/pszmby
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