Market Introduction
Smart clothing is designed and manufactured with the integration of smart technologies to offer different functionality. Growing use of smart clothing across sectors, such as healthcare, military, sports, and defense, can influence market growth over the coming years. Increasing injury cases during sports activities coupled with increased investments in the military & defense sector may increase the demand for the product. Furthermore, high demand for body activity monitoring via sensors and increase in consumer awareness about fitness is likely to fuel the market growth. Shifting athletes' preference to smart clothing to prevent possible injuries and boost their performance may spur market growth over the forecast period. The growth of the SAM market can be attributed to escalating spending on sectors, such as healthcare, sport and fitness, and the fashion industry sector. Fast turnaround time, low operating cost, and easily accessible service points increase the adoption of smart textiles considerably. Thus, the use of upper body garment is expected to create a significant demand for smart clothing in the coming years, which is further anticipated to drive the SAM smart clothing market.
The rapid spread of COVID-19 have affected various developed and developing countries. The continuous surge in the count of infected patients is threatening several industries across the SAM region. Since most countries are exercising lockdowns, the demand for smart clothing has decreased at a prominent rate. This is because the critical smart clothing purchasing countries have been restricting their investment on these components and are utilizing a fair percentage of their budget to combat COVID-19. The temporary shutdown of manufacturing facilities is also showcasing a negative trend in the SAM smart clothing market.
Market Overview and Dynamics
The smart clothing market in SAM is expected to grow from US$ 22.57 million in 2019 to US$ 115.53 million by 2027; it is estimated to grow at a CAGR of 23.0% from 2020 to 2027. With Google-Levi Project, Jacquard manufacture jackets for bicycle riders, the idea of integrating gesture recognition into smart clothing has garnered attention. While many experts believe that gesture recognition could find its way into healthcare clothing may be for use by people with paraplegia or elderly people who have had strokes or heart attacks currently there are far less expensive and well-established technologies that will be difficult to surpass in the coming five years. Haptic feedback or touch in the design of a user interface would be used to activate a patient's muscles in electric muscle stimulation (EMS), ranging from a small tingle to strong force feedback. Smart clothing with a feedback technology could be used at any time and can be wear on any part of the body to check muscle movements or rehabilitation. This is bolstering the growth of the SAM smart clothing market.
Key Market Segments
In terms of type, the passive segment accounted for the largest share of the SAM smart clothing market in 2019. In terms of product, the apparel segment held the largest market share of the SAM smart clothing market in 2019. Based on connectivity, the Bluetooth segment accounted for the highest share of the market in 2019. In terms of end user, the sport and fitness segment held the largest share of the market based in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the smart clothing market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Carre Technologies inc (Hexoskin); Sensoria Inc.; Under Armour, Inc.; Jabil Inc.; and Google LLC, among others.
Reasons to buy report
SAM Smart Clothing Market Segmentation
By End User
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 22.57 Million |
| Market Size by 2027 | US$ 115.53 Million |
| CAGR (2020 - 2027) | 23.0% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Smart Clothing Market is valued at US$ 22.57 Million in 2019, it is projected to reach US$ 115.53 Million by 2027.
As per our report South America Smart Clothing Market, the market size is valued at US$ 22.57 Million in 2019, projecting it to reach US$ 115.53 Million by 2027. This translates to a CAGR of approximately 23.0% during the forecast period.
The South America 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 South America Smart Clothing Market report:
The South America Smart Clothing Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Smart Clothing Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Smart Clothing Market value chain can benefit from the information contained in a comprehensive market report.
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