Wilmington, Delaware, Nov. 16, 2023 (GLOBE NEWSWIRE) -- Global Smart Clothing Market size is valued at US$ 1.6 billion in 2023 and is predicted to rise at a substantial CAGR of 24.6% during the forecast period of 2023 and 2030 according to RationalStat analysis.
Market Definition, Market Scope, and Report Overview
Smart clothing is clothes or wearable textiles that use technology to improve functionality, comfort, and health monitoring. Sensors, actuators, and communication devices incorporated in these clothes can collect and transmit data. Chronic diseases are long-term health disorders that usually advance slowly and necessitate ongoing medical care and control. Diabetes, cardiovascular disease, obesity, and respiratory disorders are a few examples.
As the world population becomes more prone to chronic diseases as a result of factors such as aging populations, sedentary lifestyles, and bad eating habits, the demand for effective disease management solutions grows. The incorporation of electronics into clothing is consistent with the growing popularity of wearable health gadgets, which have gained appeal due to their ability to empower individuals to take control of their health.
The accessibility of incorporating health monitoring into ordinary apparel can enable more consistent and inconspicuous monitoring, which is especially crucial for chronic disease management. Smart clothing is becoming more accessible and user-friendly as technology and materials progress, contributing to its increased demand.
- According to a deep-dive market assessment by RationalStat, the smart clothing market has been analyzed on the basis of market segments, including type, application, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the smart clothing market covers market sizes based on market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the smart clothing market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Smart Clothing Market: Segmental and Market Share Analysis
- Based on the Application, the sports & fitness segment is expected to dominate the market as it is used widely for fitness activities as people become more aware about fitness and its importance.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 1.6 billion |
| Market Size Forecast | US$ 7.3 billion |
| Growth Rate | 24.6% |
| Dominant Segment | Sports & Fitness |
| Leading Region | North America |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the smart clothing market include,
- In November 2020, Alibaba.com, a Chinese online retailer, opened a smart clothing manufacturing plant in Hangzhou, China, to penetrate the offline market for smart apparel. Furthermore, shifting consumer demand for IoT-based linked devices is fuelling market expansion in the region.
Some of the prominent players and suppliers operating and contributing significantly to the smart clothing market growth include AiQ Smart Clothing, Carre Technologies, Clothing Plus, Cityzen Sciences, Vulpes Electronics, Applycon, Toray Industries, Myontec, Athos, Sensoria, DuPont, Wearable X, Myzone, Siren, and Owlet, others.
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RationalStat has segmented the smart clothing market based on type, application, and region
- Global Smart Clothing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Products
- Shirts
- Pants
- Shoes
- Others
- Global Smart Clothing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Types
- Active Smart Textiles
- Passive Smart Textiles
- Advanced Smart Textiles
- Global Smart Clothing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Sports & Fitness
- Medical
- Entertainment
- Others
- Global Smart Clothing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End Users
- Healthcare
- Defense
- Sports
- Others
- Global Smart Clothing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Distribution Channel
- Offline
- Specialty Stores
- Brand Stores
- Departmental Stores
- Online
- E-Commerce Websites
- Brand Websites
- Offline
- Global Smart Clothing Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Smart Clothing Market
- US
- Canada
- Latin America Smart Clothing Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Smart Clothing Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Smart Clothing Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Smart Clothing Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Smart Clothing Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Smart Clothing Market
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Key Questions Answered in the Smart Clothing Report:
- What will be the market value of the smart clothing market by 2030?
- What is the market size of the smart clothing market?
- What are the market drivers of the smart clothing market?
- What are the key trends in the smart clothing market?
- Which is the leading region in the smart clothing market?
- What are the major companies operating in the smart clothing market?
- What are the market shares by key segments in the smart clothing market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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