Smart Clothing Market Size Will Reach USD 5622.2 Million By 2026 at a CAGR of 19% - Valuates Reports

BANGALORE, India, March 11, 2021 /PRNewswire/ -- The Smart Clothing market is Segmented by Type -  Second Generation Product, First Generation Product, Third Generation Product, Application - Sports Industry, Medical Industry, Military, Others. This report covers Global Opportunity Analysis and Industry Forecast from 2021 to 2026. This report is published on Valuates Reports in the Apparel Category.

The global Smart Clothing market size is projected to reach USD 5622.2 Million by 2026, from USD 1852.2 Million in 2019, at a CAGR of 19.0% during 2021-2026.

Major factors driving the growth of smart clothing market size are:

• Increasing demand for monitoring bodily activities through sensors.
• Rising adoption by various industries like sports, military and healthcare. 

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TRENDS INFLUENCING THE SMART CLOTHING MARKET SIZE

The increasing adoption of smart clothing by professional sports teams around the globe is expected to drive the growth of smart clothing market size. Overuse and a lack of adequate warm-up are the leading causes of sports injuries, which result in sprains and strains. The cost of preventable injuries in the professional athletics industry can jeopardize the industry's performance. The use of smart clothing has the potential to minimize or eradicate the majority of preventable injuries.

Growing application in the medical & military industry is expected to drive the growth of smart clothing market size. Smart clothing is seen as a way to revolutionize healthcare, and it is hoped that widespread use of garments used to track health or assist with treatment would minimize dependency on expensive equipment and a strained healthcare system. Clothing that can monitor chronic diseases or illnesses, aid in the care of an aging population, or make patients more comfortable when in a hospital or treatment center is seen as a way to add value, improve health insights, and cut costs. In the same way, smart clothing is used in the military to increase visibility into the health of the individual soldier as well as providing overall battlefield insights.

The growing demand for upper wear such as smart shirts, jackets, and vests provides Lucrative opportunities for smart clothing market players. A smart shirt can collect biometric data, including heart rate, breathing rate, and muscle activity, which can be used to improve professional performance and workout plans. Data is collected in real-time and sent to all companion apps, offering insights into a variety of athletic metrics such as strength and recovery, calories burned, exhaustion level, and sleep quality.

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SMART CLOTHING MARKET SHARE ANALYSIS

Based on region, North America held the largest smart clothing market share of 44% in 2019. North America is a significant center for technical development and innovation. The rise in smart clothing R&D in terms of new and improved technology, as well as the increasing demand for a better lifestyle, are the two major factors driving the market in North America. On the other hand, Asia-Pacific is expected to witness the highest growth in the smart clothing market.

Smart Clothing can be mainly divided into First Generation Product, Second Generation Product, and Third Generation Product based on their type. Second Generation Product is expected to bring in revenue of over US$ 850 Million in 2020 and is expected to hold the largest market share.

Based on application, the sports industry is expected to hold the largest market share during the forecast period.

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Key Regions

The key regions covered in the Smart Clothing market report are North America, Europe, Japan, China and South Korea. It also covers key regions (countries), viz, the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Mexico, Brazil, Turkey, Saudi Arabia, UAE, etc.

Key Players:

• Toray Industries
• DuPont
• Clothing+
• Schoeller Textiles AG
• Hexoskin (Carre Technologies)
• AIQ Smart Clothing
• Kolon Industries
• Vista Medical Ltd.
• Toyobo
• Sensoria Inc.
• OTEX Specialty Narrow Fabrics

Smart Clothing Breakdown Data by Type

• Second Generation Product
• First Generation Product
• Third Generation Product

Smart Clothing Breakdown Data by Application

• Sports Industry
• Medical Industry
• Military
• Others

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-  The global online/virtual fitness market size was valued at USD 6,046 Million in 2019 and is projected to reach at USD 59,231 Million by 2027, growing at a CAGR of 33.1% from 2020 to 2027.

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