Press release
Global Smart Clothing Market 2021 Size Trends & Forecast to 2027 by Industry Analysis by Regions, Type and Applications
The smart clothing market was valued at US$ 1,143.09 million in 2019 and is projected to reach US$ 6,418.08 million by 2027; it is expected to grow at a CAGR of 24.4% during 2020–2027.Smart clothing is designed and manufactured with the integration of smart technologies to offer fabric with different functionality. The growing use of smart clothing across sectors such as healthcare, military, sports, and defense can influence market growth over the coming years. Increasing injury cases during sports activities coupled with increased investments in the military & defense sector may increase demand for the product. High demand for body activity monitoring via sensors can stimulate market growth. Growing consumer awareness about fitness is likely to fuel market growth. Shifting athletes' preference for smart clothing to prevent possible injuries and boost their performance may spur market growth over the forecast period. The growth of the global market is also led by escalating spending by sectors, such as healthcare, sports & fitness, and the fashion industry sector.
The key players profiled in the Smart Clothing Market research study includes:
AiQ Smart Clothing Inc.
Carre Technologies Inc(Hexoskin)
CUTECIRCUIT
Myontec Ltd
Sensoria Inc.
Under Armour, Inc.
WEARABLE X
Jabil Inc.
Siren Care, Inc.
Google LLC
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Since, the key findings in the Smart Clothing Market research reports highlight crucial progressive industry trends, it allows the companies across the value chain to develop effective long-term strategies. The clients get to understand a clear picture of the competitors and can develop strategies and modify business expansion plans accordingly. The Smart Clothing Market research reports cover thousands of global players that based on several parameters, such as company revenue, product portfolio, and geographic presence.
Type Segment Insights
Smart clothing is designed and manufactured with the integration of smart technologies to offer fabric with smart functionalities. The smart clothing market, by type is segmented into passive, active, and ultra-smart clothing. These textiles are used across numerous applications and offer better communication than other devices, generate electricity, analyze and sense the stimuli, and protect the wearer from environmental hazards.
Product Segment Insights
Of all emerging technologies, nanotechnology and IoT are among the primary contributors to the global adoption of smart clothing. Based on product, the smart clothing market is segmented into apparel, footwear, wearable patches, and others. Ever-changing human nature is a major reason for the continuously updating clothing choices and tastes. Technology has started directing the apparel and textile industry, and it is expected to make the manufacture of apparel products more efficient and independent. Wearable technology brands and wearable technology startups are at the forefront of electronic/IT innovations in smart apparel. Also, IT expertise and vibrant startup ecosystems allow the startups to take a lead in electronically embedded / IT-enabled smart apparel.
The Insight Partners adheres to the codes of practice of the Market Research Society and Strategic and Competitive Intelligence Professionals. The following methodology has been followed for the collection and analysis of data presented in this report:
Coverage:
The objective of updating “The Insight Partners” coverage is to ensure that it represents the most up-to-date vision of the industry possible. The estimated revenues of all major companies, including private and governmental, are gathered and used to prioritize coverage. Companies which are making the news, or which are of particular interest due to their innovative approach, are prioritized.
Secondary Research:
The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information relating to each Market. The secondary research sources that are typically referred to include, but are not limited to:
Company Websites, Annual Reports, Financial Reports, Broker Reports and Investor Presentations
Industry Trade Journals and Other Literature
National Government Documents, Statistical Databases and Market Reports
News Articles, Press Releases and Web-Casts Specific to the Companies Operating in the Market
NOTE: All the financials considered in Company Profile’s section have been standardized to US$. This has been achieved after converting the financials (for those not in US$) with respective currency exchange rates of the particular year.
Primary Research:
“The Insight Partners” conducts hundreds of primary interviews a year with industry participants and commentators in order to validate its data and analysis. A typical research interview fulfils the following functions:
Provides First-Hand Information on the Market Size, Market Trends, Growth Trends, Competitive Landscape and Future Outlook
Validates and Strengthens Secondary Research Findings
Further Develops the Analysis Team’s Expertise and Market Understanding
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Primary research involves email interactions and telephone interviews for each market, category, segment and sub -segment across geographies. The participants who typically take part in such a process include, but are not limited to:
Industry Participants: VPs, Business Development Managers, Market Intelligence Managers and National Sales Managers
Outside Experts: Valuation Experts, Research Analysts and Key Opinion Leaders Specializing in the Industry
ABOUT US:
The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Our research model is very simple. We believe in client servicing and delivering best quality to our customers. Through our research content, we are making sure that our customers get value of their money along with better quality data and analysis.
Our research content is majorly focused towards market trends in terms of market sizing, competitive landscaping, company analysis, regional or country analysis etc. We provide detailed break-up of segmentation in terms of geography, technology, product and services etc.; which helps our clients to get a deeper analysis on various research topics.
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