Smart Clothing Market surging with CAGR of 24.4% during 2022-2028

According to our latest market study on "GlobalSmart Clothing Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Type (Active, Passive, and Ultra-Smart), Orientation Type (Apparel, Footwear, Wearable Patches, and Others), Connectivity (Wi-Fi, Bluetooth, GPS, and RFID), End-User (Healthcare, Fashion and Lifestyle, Sport and Fitness, Military, and Others), and Geography,"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.The report highlightskey factors driving the market growth, and prominent players and their developmentsin the market.

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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.

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The impact of COVID-19 variesin different countriesacross 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.

The List of Companies - Smart Clothing Market
• 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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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

This release was published on openPR.