Major smart clothing market players include Sensoria, Inc., Lumo Bodytech, Inc., Ralph Lauren Corporation, Hexoskin, OMsignal, Athos, Catapult Sports Pty. Ltd., and Heddoko, Inc.
Selbyville, Delaware, Jan. 16, 2020 (GLOBE NEWSWIRE) --
The market valuation of smart clothing is predicted to reach $4 billion by 2024. Growing awareness regarding fitness and the mounting demand for monitoring body vitals such as heart rate and blood pressure is anticipated to stimulate the smart clothing market share. This type of clothing is extensively being explored by healthcare companies to develop a novel wearable solution and provide consumers and healthcare professionals with more product options.
Many medical device manufacturers are actively engaging in researching and monitoring smart clothing pilot projects that can track chronic diseases and help patients to know their health status efficiently. Rapid urbanization along with increasing consumer participation in health and fitness clubs is expected to positively favor smart clothing market size over the estimated timeline.
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Reports estimate that sports and fitness applications are anticipated to hold a commendable share over the forecast period. From uniforms to gloves, helmets and pads, sporting equipment is now more high-tech and functioning. The advancements of technology have provided a convenient opportunity for athletes to be able to enhance their skills as well as allow them to monitor their fitness level.
Tremendous focus of governments in promoting regional sports teams as well as growing preference of users towards adoption health-promoting apparel will fuel smart clothing market outlook, from demand for t-shirts and shoes.
Smart uniforms are specifically designed to shield soldiers from hazards like chemical weapons and viruses due to strong functionality and there is rising adoption of smart uniforms in military and defense sector. Moreover, the ongoing research and advancements in sensor technology will prove to be reliable sources that can aid smart clothing technology in a better way.
The U.S. smart clothing market is likely to grow noticeably owing to rising investments by several sports clubs to boost the efficacy level of the players. Advances in technology have allowed athletes to monitor functional movements, maximize performance, and minimize injury detection.
Several large-scale companies and regional governments are spending massively in smart clothing to make military uniforms that are technologically sound and can provide insights on the injuries, health of soldiers, and among others. U.S. is also considered to be the leading spender on defense and military projects, indicating strong regional potential for smart clothing providers.
The major companies in the global smart clothing market are Sensoria, Inc., Lumo Bodytech, Inc., Ralph Lauren Corporation, Hexoskin, OMsignal, Athos, Catapult Sports Pty. Ltd., Heddoko, Inc., and others. The companies are focusing on new product launches to gain a competitive edge over other players with their unique offerings.
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Table of Contents (ToC) of the report:
Chapter 3 Smart Clothing Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013- 2024
3.3 Industry ecosystem analysis
3.4 Technological & innovation landscape
3.5 Regulatory landscape
3.5.1 U.S. Federal Trade Commission
3.5.2 Geolocation Privacy and Surveillance Act (GPS Act)
3.5.3 Health Information Technology for Economic and Clinical Health Act (HITECH Act)
3.5.4 Health Insurance Portability and Accountability Act of 1996
3.6 Industry impact forces
3.6.1 Growth drivers
22.214.171.124 Rising health awareness in Europe
126.96.36.199 Increasing sports injuries in the U.S.
188.8.131.52 Increasing use by professional sport teams North America & Brazil
184.108.40.206 Increasing workplace injuries in Asia Pacific & MEA
220.127.116.11 Advancements in sensor technology in China and Taiwan
18.104.22.168 Adoption of smart uniforms in various industry verticals in North America & Europe
22.214.171.124 Rising adoption in military & defense in North America & Asia Pacific
3.6.2 Industry pitfalls and challenges
126.96.36.199 High cost
188.8.131.52 Technological challenges
184.108.40.206 Data privacy concerns
220.127.116.11 Lack of customer awareness
3.7 Growth potential analysis
3.7.1 Military & defense
3.7.2 Sports & fitness
3.7 Porter’s analysis
3.9 Competitive landscape, 2016
3.9.1 Strategy dashboard
3.9.2 Investment landscape
3.10 PESTEL analysis
3.11 Price trend analysis, 2013 – 2024
3.12 Smart clothing market, by demography
3.12.2 Age group
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