Market Introduction
Smart clothing is designed and manufactured with the integration of smart technologies to offer fabric with different functionality. The components integrated in smart clothing are sensors, batteries, and lights etc., Shifting athletes' preference for smart clothing to prevent possible injuries and boost their performance, and increasing demand for smart clothing from defense sector to track essential body vitals of on field troops are among the factors fueling the growth of Europe smart clothing market. The growth of the Europe market is also led by escalating use of smart fabric and textile from fashion industry and healthcare industry is further boosting the growth of Europe smart clothing market.
Market Overview and Dynamics
The smart clothing market in Europe is expected to grow from US$ 325.08 million in 2019 to US$ 1861.24 million by 2027; it is estimated to grow at a CAGR of 24.7% from 2020 to 2027. Designer brands and well-known clothing manufacturers are teaming up with major technological giants to create new wearable smart textiles. Research and development in clothes have resulted in apparels that illuminate or change colors in certain conditions, or display real-time text or emoticons associated with the user's mood. New designers are now applying their creativity to take an advantage of these possibilities to develop the future fashion. For instance, Nike is cooperating with Google to launch gym shoes that can track real-time footprints using Google Earth. Such initiatives and continuous innovation in smart clothing technology is expected to pave way for Europe smart clothing market.
The impact of COVID-19 varied from country to country across the European region as selected countries witnessed a surge in number of confirmed cases and subsequently attracted stringent as well as longer lockdown period or social isolation. For instance, countries such as Italy and Spain smart clothing or other services declined significantly owing to notable number of cases across the countries. However, western European countries such as Germany, France, United Kingdom and other owing to robust healthcare infrastructure have witnessed a comparatively moderate decline in their demand for various essential services including smart clothing. The lockdown is expected to continue negatively impact the market and virtually disrupt the market growth across selected countries during the coming few months.
Key Market Segments
In terms of type, the passive accounted for the largest share of the Europe smart clothing market in 2019. In terms of product, the apparel segment held a larger market share of the Europe smart clothing market in 2019. In terms of connectivity, the Bluetooth segment held a larger market share of the Europe smart clothing market in 2019. Further, the sport & fitness segment held a larger share of the market based on end user in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe smart clothing market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are CUTECIRCUIT, Google LLC, Jabil Inc., Myontec Ltd, and Under Armour, Inc. among others.
Reasons to buy report
EUROPE SMART CLOTHING MARKET SEGMENTATION
Europe Smart Clothing Market – By Type
Europe Smart Clothing Market – By Product
Europe Smart Clothing Market – By Connectivity
Europe Smart Clothing Market – By End User
Europe Smart clothing market – By Country
Europe Smart clothing market -Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 325.08 Million |
| Market Size by 2027 | US$ 1861.24 Million |
| CAGR (2020 - 2027) | 24.7% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Smart Clothing Market is valued at US$ 325.08 Million in 2019, it is projected to reach US$ 1861.24 Million by 2027.
As per our report Europe Smart Clothing Market, the market size is valued at US$ 325.08 Million in 2019, projecting it to reach US$ 1861.24 Million by 2027. This translates to a CAGR of approximately 24.7% during the forecast period.
The Europe Smart Clothing Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Smart Clothing Market report:
The Europe Smart Clothing Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Smart Clothing Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Smart Clothing Market value chain can benefit from the information contained in a comprehensive market report.
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