Dublin, Nov. 10, 2020 (GLOBE NEWSWIRE) -- The "North America Smart Clothing Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Product, Connectivity, and End User" report has been added to ResearchAndMarkets.com's offering.
The smart clothing market in North America is expected to grow from US$ 491.84 million in 2019 to US$ 2,438.87 million by 2027; it is estimated to grow at a CAGR of 22.5% from 2020 to 2027.
Increase in demand for smart upper wear, such as smart shirts, jackets, and vests, is creating growth opportunities for the North America smart clothing market. A smart shirt can provide biometric data, such as heart rate, respiratory rate, and muscle activity, which are used professionally to optimize performance and workout plans.
Data is captured and sent to all the companion apps, providing insights on a variety of sporty metrics, including intensity and recovery, calories burned, and fatigue level, and quality of sleep. Hence, increasing use of smart upper wear in various end-use industries, such as healthcare, military, sports, and defense, is driving the growth of the market in North America. Furthermore, increasing trend of smart clothing in fashion industry is expected to positively influence the smart clothing market in North America.
Based on end user, the healthcare segment led the smart clothing market in North America in 2019. The growing development in sensor technology is enhancing the acceptance of smart clothing technology across the healthcare sector. Several market players are focusing strongly on developing smart clothing products, specifically for healthcare and medical applications. Primary smart clothing applications in the healthcare sector include telemedicine, life belt, and life jackets.
All these applications are integrated with sensors for sensing and measuring heart rate, blood pressure, as well as for monitoring toxic gases, and many more. For example, smart shirts are integrated with conductive fiber grid and sensors (ECG) to measure human heart rhythms and respiration. Smart textiles can quickly and efficiently track chronic diseases or conditions, help the aging population, and make hospital patients more comfortable at the time of treatment to increase health insights at reduced costs. All these applications of smart clothing are fueling the growth of the smart clothing market in North America.
The outbreak of COVID-19 has hampered the economic stability in North America. In North America, so far, the US is the worst hit country due to spread of the virus as the number of cases keeps increasing. In order to control the situation, the governments across North America imposed travel bans, factories and businesses shutdowns, and lockdowns which affected the projected revenue generation and growth opportunities in North America.
Meanwhile, the rising number of cases of coronavirus continue to negatively impact the production, distribution, and supply chain operations for smart clothing market across North America. Furthermore, the service sector had witnessed significant impact of the global pandemic owing to decline in services along with laying off of employees across different service verticals across distribution channels, such as retailers, suppliers, distributors, and delivery providers. The retailers and brands are facing various short-term challenges regarding health and safety, supply chain, labor force, cash flow, consumer demand, and marketing.
Carre Technologies Inc. (Hexoskin); Google LLC; Jabil Inc.; Sensoria Inc.; Siren Care, Inc.; Wearable X; and Under Armour, Inc. are among a few players operating in the North America smart clothing market.
Key Topics Covered:
1.1 Scope of The Study
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
4. North America Smart Clothing Market Landscape
4.1 Market Overview
4.2 North America - PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Smart Clothing Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Incremental rise in adaptation of smart wearables in sports & fitness industries and healthcare
5.1.2 The upper body garment segment is projected to flourish the market
5.2 Market Restraints
5.2.1 High cost and compliance norms
5.3 Market Opportunities
5.3.1 Increasing trend of smart clothing in fashion industry
5.4 Future Trends
5.4.1 Implementation of gesture recognition
6. Smart Clothing Market - North America Analysis
6.2 North America 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 North America Smart Clothing Market, By Type (2019 and 2027)
7.3.2 Passive: Smart Clothing Market Revenue and Forecasts to 2027 (US$ Mn)
8. Smart Clothing Market Analysis - By Product
8.2 North America Smart Clothing Market, By Product (2019 and 2027)
8.3.2 Apparel: Smart Clothing Market - Revenue and Forecast to 2027 (US$ Million)
8.5 Wearable Patches
9. Smart Clothing Market Analysis - By Connectivity
9.2 North America Smart Clothing Market, By Connectivity (2019 and 2027)
9.3.2 Wi-Fi: Smart Clothing Market - Revenue and Forecast to 2027 (US$ Million)
10. Smart Clothing Market Analysis - By End User
10.2 North America Smart Clothing Market Breakdown, by End User, 2019 & 2027
10.3.2 Healthcare: Smart Clothing Market Revenue and Forecast to 2027 (US$ Million)
10.4 Sport and Fitness
10.5 Fashion and Lifestyle
11. Smart Clothing Market - Country Analysis
12. Impact of COVID-19 Pandemic on North America Smart Clothing Market
12.1 North America: Impact Assessment of COVID-19 Pandemic
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
Carre Technologies Inc. (Hexoskin)
Under Armour, Inc.
Siren Care, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/5spf65
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