Smart Clothing Market by End-user and Geography - Forecast and Analysis 2022-2026

Published: Sep 2022

Pages: 119

SKU: IRTNTR74507

Snapshot

The smart clothing market is projected to grow by USD 4.49 billion with a CAGR of 18.83% during the forecast period 2021 to 2026.

The research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by end-user (healthcare, sports, defense, and others) and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The market report also offers information on several market vendors, including AiQ Smart Clothing Inc., Alphabet Inc., Applycon S.R.O., Carre Technologies Inc., CuteCircuit Ltd., IoT Central LLC, Komodo Technologies Inc, Myontec Oy, Noble Biomaterials Inc., Owlet Baby Care, Polar Electro Oy, Propel LLC, Sensatex Inc., Sensoria Inc., Siren Care Inc., Tex Ray Industrial Co. Ltd., Under Armour Inc., Vulpes Electronics GmbH, Wearable X, and Xenoma Inc. among others.

What will the Smart Clothing Market Size be During the Forecast Period?

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Smart Clothing Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the market. During the COVID-19 pandemic, the market demand has been impacted greatly. A holistic analysis of drivers will help in predicting exact demands and refining marketing strategies to gain a competitive advantage.

Key Smart Clothing Market Driver

Growing product innovation is one of the key drivers supporting market growth. The advent of innovative and technically advanced smart fitness products attracts and motivates consumers to adopt them for their fitness activities, accelerating the market growth and raising the market value in terms of revenue. For instance, smart footwear, such as step-counting shoes, is very common among consumers engaged in athletic and fitness activities for monitoring and planning their daily workouts. Smart clothes also alert users about the steps and activities that they pursue. Offering such innovative products and catering to the needs of different customer groups can drive the need for these products among consumers.

Key Smart Clothing Market Trend

The increasing number of strategic partnerships and M&A activities is one of the key market trends contributing to market growth. For instance, Sensoria Inc. has been partnering with MYZONE to deliver comfortable and accurate heart rate monitoring garments for the past 5 years, with some of the first products being the Sensoria T-Shirt and MYZONE Powered Sports Bra, respectively. Similarly, in 2019, China-based KBS Fashion Group Limited, a casual menswear firm, signed a non-binding letter of intent to acquire Tribe Wearables, a Greek private smart apparel tech company. These strategic partnerships among manufacturers of smart clothing and players in other industries, such as technology and personal care, will increase innovations and the launch of more featured products in the market during the forecast period.

Key Smart Clothing Market Challenge

Growing concerns over data security and privacy is one of the factors impeding market growth. With advanced features being integrated into clothing items, large volumes of data are stored and accessed through these devices, such as customers' call and message details, health information, and debit/credit card information. Hence, the security standards in these devices are of utmost importance. Privacy issues can have a significant negative effect on the market, as most smart clothing, such as smart shirts and socks are embedded with motion sensors, making them vulnerable to hackers. The data generated by a smartwatch can be easily decoded using a wireless interceptor. Such factors are expected to hinder the growth of the market during the forecast period.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the smart clothing market as a part of the global apparel, accessories, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major Smart Clothing Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

This statistical study of the market encompasses successful business strategies deployed by key vendors. The market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

AiQ Smart Clothing Inc. - The company offers smart clothing such as Bioman and AiQ Synertial.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The report market contains comprehensive market knowledge and an in-depth vendor landscape added to an analysis of the key vendors.

Smart Clothing Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the smart clothing market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also the optimization and evaluation of business strategies The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Smart Clothing Market?

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40% of the market’s growth will originate from North America during the forecast period. The US is the key market for smart clothing in North America. Market growth in this region will be slower than the growth of the market in APAC.

The high adoption of modern technologies will facilitate the market's growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

The outbreak of COVID-19 negatively impacted regional market growth. However, the recovery phase started in 2021, owing to the resumption of supply chain activities due to the initiation of vaccination drives all over the region. Thus, the regional market will grow during the forecast period.

What are the Revenue-generating End-user Segments in the Smart Clothing Market?

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The market share growth in the healthcare segment will be significant during the forecast period. In March 2022, Owlet launched a new sleep wearable called the Owlet Dream Sock Plus, which can be used on children up to age 5 or those who weigh up to 55 lbs. Hence, owing to these advancements, the market in the healthcare segment is projected to witness significant growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

Smart Clothing Market Scope
Report Coverage	Details
Page number	119
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 18.83%
Market growth 2022-2026	USD4.49 billion
Market structure	Fragmented
YoY growth (%)	18.35
Regional analysis	North America, APAC, Europe, South America, and the Middle East and Africa
Performing market contribution	North America at 40%
Key consumer countries	US, China, India, Germany, and France
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	AiQ Smart Clothing Inc., Alphabet Inc., Applycon S.R.O., Carre Technologies Inc., CuteCircuit Ltd., IoT Central LLC, Komodo Technologies Inc, Myontec Oy, Noble Biomaterials Inc., Owlet Baby Care, Polar Electro Oy, Propel LLC, Sensatex Inc., Sensoria Inc., Siren Care Inc., Tex Ray Industrial Co. Ltd., Under Armour Inc., Vulpes Electronics GmbH, Wearable X, and Xenoma Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Smart Clothing Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive market growth during the next five years
Precise estimation of the market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behaviour
The growth of the smart clothing industry across North America, APAC, Europe, South America, and the Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

5.1 Market segments
- Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
- Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)

5.2 Comparison by End-user
- Exhibit 26: Chart on Comparison by End-user
- Exhibit 27: Data Table on Comparison by End-user

5.3 Healthcare - Market size and forecast 2021-2026
- Exhibit 28: Chart on Healthcare - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Healthcare - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Healthcare - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Healthcare - Year-over-year growth 2021-2026 (%)

5.4 Sports - Market size and forecast 2021-2026
- Exhibit 32: Chart on Sports - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Sports - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Sports - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Sports - Year-over-year growth 2021-2026 (%)

5.5 Defence - Market size and forecast 2021-2026
- Exhibit 36: Chart on Defence - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Defence - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Defence - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Defence - Year-over-year growth 2021-2026 (%)

5.6 Others - Market size and forecast 2021-2026
- Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)

5.7 Market opportunity by End-user
- Exhibit 44: Market opportunity by End-user ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 46: Chart on Market share by geography 2021-2026 (%)
- Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 48: Chart on Geographic comparison
- Exhibit 49: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026
- Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 APAC - Market size and forecast 2021-2026
- Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.5 Europe - Market size and forecast 2021-2026
- Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026
- Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026
- Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026
- Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 India - Market size and forecast 2021-2026
- Exhibit 78: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)

7.11 Germany - Market size and forecast 2021-2026
- Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.12 France - Market size and forecast 2021-2026
- Exhibit 86: Chart on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on France - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on France - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography
- Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 91: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 93: Overview on factors of disruption

9.4 Industry risks
- Exhibit 94: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 95: Vendors covered

10.2 Market positioning of vendors
- Exhibit 96: Matrix on vendor position and classification

10.3 AiQ Smart Clothing Inc.
- Exhibit 97: AiQ Smart Clothing Inc. - Overview
- Exhibit 98: AiQ Smart Clothing Inc. - Product / Service
- Exhibit 99: AiQ Smart Clothing Inc. - Key offerings

10.4 Alphabet Inc.
- Exhibit 100: Alphabet Inc. - Overview
- Exhibit 101: Alphabet Inc. - Business segments
- Exhibit 102: Alphabet Inc. - Key news
- Exhibit 103: Alphabet Inc. - Key offerings
- Exhibit 104: Alphabet Inc. - Segment focus

10.5 Applycon S.R.O.
- Exhibit 105: Applycon S.R.O. - Overview
- Exhibit 106: Applycon S.R.O. - Product / Service
- Exhibit 107: Applycon S.R.O. - Key offerings

10.6 CuteCircuit Ltd.
- Exhibit 108: CuteCircuit Ltd. - Overview
- Exhibit 109: CuteCircuit Ltd. - Product / Service
- Exhibit 110: CuteCircuit Ltd. - Key offerings

10.7 Noble Biomaterials Inc.
- Exhibit 111: Noble Biomaterials Inc. - Overview
- Exhibit 112: Noble Biomaterials Inc. - Product / Service
- Exhibit 113: Noble Biomaterials Inc. - Key offerings

10.8 Sensatex Inc.
- Exhibit 114: Sensatex Inc. - Overview
- Exhibit 115: Sensatex Inc. - Product / Service
- Exhibit 116: Sensatex Inc. - Key offerings

10.9 Sensoria Inc.
- Exhibit 117: Sensoria Inc. - Overview
- Exhibit 118: Sensoria Inc. - Product / Service
- Exhibit 119: Sensoria Inc. - Key offerings

10.10 Tex Ray Industrial Co. Ltd.
- Exhibit 120: Tex Ray Industrial Co. Ltd. - Overview
- Exhibit 121: Tex Ray Industrial Co. Ltd. - Product / Service
- Exhibit 122: Tex Ray Industrial Co. Ltd. - Key offerings

10.11 Vulpes Electronics GmbH
- Exhibit 123: Vulpes Electronics GmbH - Overview
- Exhibit 124: Vulpes Electronics GmbH - Product / Service
- Exhibit 125: Vulpes Electronics GmbH - Key offerings

10.12 Wearable X
- Exhibit 126: Wearable X - Overview
- Exhibit 127: Wearable X - Product / Service
- Exhibit 128: Wearable X - Key offerings

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 129: Inclusions checklist
- Exhibit 130: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 131: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 132: Research methodology
- Exhibit 133: Validation techniques employed for market sizing
- Exhibit 134: Information sources

11.5 List of abbreviations
- Exhibit 135: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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