Smart Clothing Market to witness over 50% CAGR from 2017 to 2024
OCEAN VIEW, Del., Oct. 17, 2017 /PRNewswire-iReach/ — Smart Clothing Market share will be valued USD 4 billion by 2024, and shipments are forecast to grow at over 50% CAGR; according to a new research report by Global Market Insights, Inc.
Growing adoption of smart products by professional athletes to optimize the performance level and prevent potential injuries is anticipated to drive the smart clothing market across the globe. Due to the increasing contract costs of athletes, the sports associations are heavily spending on these products to eliminate the possibility of any injuries. The surge in demand for remote monitoring of patients followed by hospital staff injuries also provides significant growth opportunities to the smart clothing market.
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Rising awareness associated with fitness coupled with the demand for monitoring body activities such as blood pressure & heart rate is expected to catapult the smart clothing market demand. The launch of products with advanced specifications such as tracking muscle activity offer lucrative opportunities. Moreover, other features include reduction & prevention of sports injuries resulting from improper warm up and exertion. Increasing adoption for sensor enabled products eliminates the use of smart wearables for specific functionality. Rapid urbanization coupled with the growing consumer participation in health & fitness clubs is anticipated to positively impact the smart clothing market over the forecast timeline.
Factors such as high cost coupled with lack of awareness among individuals regarding the use of these products is challenging the smart clothing market. The high cost of the products can be attributed to the various type of sensors for monitoring physiological activities coupled with the rising cost of conductive fabrics used for manufacturing.
Smart jackets can control the mobile device of the user followed by features such as one tap answering & rejecting calls and connect to music & camera services. Smart t-shirt segment is predicted to grow significantly owing to the data offered by these products such as perspiration rate, heart rate and muscle engagement which are analyzed for increasing the efficiency of the wearer.
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Sports & fitness applications are set to witness steady growth over the forecast timeline. This can be attributed to the increasing use of products such as t-shirts, pants & shoes by professional athletes as well as sports teams to lessen injuries. High adoption of smart uniforms in military & defense applications is expected to drive the industry size. Features such as collection of vital signs and using the data to gain insight to the soldier’s heath during battles.
The U.S. smart clothing market is anticipated to grow substantially due to the increased spending by various sports clubs to enhance the efficiency level of the players followed by injury detection. Increasing military & defense investments for the development of uniforms provides lucrative opportunities to the industry.
Players operating in the industry include Hexoskin, Heddoko Inc., Ralph Lauren, Athos, Sensoria Inc. and Catapult Sports Pty Ltd, etc. The industry is currently witnessing collaborations between the players and sports associations. Competition is expected to intensify on account of the increasing entry of new entrants in the smart clothing market.
Browse key industry insights spread across 180 pages with 197 market data tables & 10 figures & charts from the report, “Smart Clothing Market Size By Product (T-shirts, Pants, Shoes, Undergarments, Jackets, Socks), By Application (Sports & Fitness, Healthcare, Military & Defense, Industrial, Entertainment), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, France, China, Japan, South Korea, Australia, Brazil, Mexico), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024″ in detail along with the table of contents:
Chapter 4 Smart Clothing Market, By Product
4.1 Smart clothing market share by product, 2016 & 2024
4.2.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
4.2.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
4.3.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
4.3.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
4.4.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
4.4.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
4.5.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
4.5.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
4.6.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
4.6.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
4.7.1 Market estimates and forecast, by region, 2013 – 2024 (USD Million)
4.7.2 Market estimates and forecast, by region, 2013 – 2024 (Thousand Units)
Browse Full TOC @ https://www.gminsights.com/toc/detail/smart-clothing-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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SOURCE Global Market Insights, Inc.