Smart Clothing Market to Grow by USD 4.49 Bn, Apparel, Accessories & Luxury Goods Industry Considered as Parent Market

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24 Oct, 2022, 11:00 ET

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NEW YORK, Oct. 24, 2022 /PRNewswire/ -- The global smart clothing market has been categorized as a part of the global apparel, accessories, and luxury goods market. The parent market, the global smart clothing, accessories, and luxury goods market, covers products and companies engaged in the manufacturing/marketing of smart clothing, accessories, and luxury goods. The market also includes companies offering smart clothing, accessories, and luxury goods rental services.

The smart clothing market size is expected to grow by USD 4.49 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 18.83% during the forecast period, according to Technavio.

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The smart clothing market report covers the following areas:

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The global smart clothing market is witnessing intense competition due to the presence of several established vendors. The market is fragmented because of several international and domestic vendors. Vendors compete based on several factors, such as quality, price, service, brand image, distribution, and marketing. Moreover, major vendors are focusing on acquiring other smaller brands to increase their market presence. Increasing vendor competition may lead to vendors reducing their product prices, which negatively affects their profit margins and market growth.

AiQ Smart Clothing Inc., Alphabet Inc., Applycon S.R.O., Carre Technologies Inc., CuteCircuit Ltd., IoT Central LLC, Komodo Technologies Inc, Myontec Oy, Noble Biomaterials Inc., Owlet Baby Care, Polar Electro Oy, Propel LLC, Sensatex Inc., Sensoria Inc., Siren Care Inc., Tex Ray Industrial Co. Ltd., Under Armour Inc., Vulpes Electronics GmbH, Wearable X, and Xenoma Inc. are among some of the major market participants.

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The smart clothing market share growth in the healthcare segment will be significant during the forecast period. In March 2022, Owlet launched a new sleep wearable called the Owlet Dream Sock Plus, which can be used on children up to age 5 or those who weigh up to 55 lbs. Hence, owing to these advancements, the smart clothing market in the healthcare segment is projected to witness significant growth during the forecast period.

40% of the market's growth will originate from North America during the forecast period. The US is the key market for the smart clothing market in North America. The high adoption of modern technologies will facilitate the smart clothing market's growth in North America over the forecast period.

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Smart Connected Clothing Market by Type, Application, and Geography – Forecast and Analysis 2022-2026: The smart connected clothing market share is expected to increase by USD 2.95 billion from 2021 to 2026. This report extensively covers smart connected clothing market segmentation by distribution channel (offline distribution channel and online distribution channel), end-user (men, women, and children), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

Tactical and Outdoor Clothing Market by Distribution Channel, Application, and Geography – Forecast and Analysis 2022-2026: The tactical and outdoor clothing market share is expected to increase by USD 2452.63 million from 2021 to 2026. This report extensively covers tactical and outdoor clothing market segmentation by application (outdoor clothing and tactical clothing), distribution channel (offline and online), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

Smart Clothing Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 18.83%

Market growth 2022-2026

USD 4.49 billion

Market structure

Fragmented

YoY growth (%)

18.35

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 40%

Key consumer countries

US, China, India, Germany, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by End-user

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio

Technavio