The smart clothing market size is projected to reach US$ 15.21 billion by 2031 from US$ 2.61 billion in 2023. The market is expected to register a CAGR of 24.7% in 2023–2031. The growing need for health and wellness monitoring devices is likely to remain a key smart clothing market trend.
The smart clothing market is growing at a rapid pace due to the growing adoption of smart clothing in the sports and fitness industry and the increasing adoption of sensors for monitoring bodily activities. The market is expanding steadily, driven by the rising adoption of wearable devices. Moreover, the rising adoption of the Internet of Things (IoT) is providing lucrative opportunities for market growth.
Smart clothing incorporates electronics into garments to improve utility and connectivity. These garments may collect biometric data, measure activity levels, regulate temperature, and even provide haptic feedback. The smart clothing market provides revolutionary garments embedded with sensors and technologies that revolutionize everyday wear. These garments improve health and lifestyle management, including fitness tracking and biometric monitoring. They deliver real-time data, allowing users to make informed decisions regarding their health. The use of smart textiles in a fashion not only enhances convenience but also encourages a proactive approach to health, which increases demand among consumers. Thus, driving the market.
Smart clothing has enormous potential in the sports and fitness industry. Athletes and fitness enthusiasts are highly adopting smart clothing owing to its benefits, such as real-time monitoring of physiological data such as oxygen saturation, muscle activity, heart rate, and movement patterns. This data is useful for refining training programs, reducing injury risks, and improving overall performance. Furthermore, smart gear provides feedback on posture, technique, and form, allowing sportsman to make modifications and improve their exercise routines. Integrating smart clothes with wearable devices and mobile apps helps users create a holistic fitness ecosystem that provides individualized information and recommendations to users looking to enhance their health goals.
The growth of IoT enables the seamless integration of smart garments with smartphones and smartwatches. This connectivity improves user experiences and enables new functionalities, which is expected to create opportunities in the market. The proliferation of IoT makes smart clothing an increasingly important part of the interconnected ecosystem, providing users with unparalleled convenience and variety in their daily lives. Moreover, the growing demand for smart clothing encourages manufacturers to develop technologically advanced solutions to meet consumer’s demands. For instance, in April 2023, researchers at the University of Waterloo created a groundbreaking 'smart fabric' made of polymer nano-composite fibers embedded with stainless-steel wires. This fabric has a particular response to heat and electricity, with embedded wires contracting and changing shape when heated.
Key segments that contributed to the derivation of the smart clothing market analysis are type, orientation type, connectivity, and end-user.
The geographic scope of the smart clothing market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In terms of revenue, North America accounted for the largest smart clothing market share, due to the favorable government initiative to promote smart clothing technology. For instance, in September 2023, the US government invested US$ 22 million to promote the smart e-pants initiative for advancing smart surveillance clothing technology. The government is planning to create wearable garments that track geolocation, record audio/video, and monitor physiological data for military personnel and intelligence agencies. This increases situational awareness and data collection in hazardous environments.
The regional trends and factors influencing the Smart Clothing Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Smart Clothing Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 2.61 Billion |
| Market Size by 2031 | US$ 15.21 Billion |
| Global CAGR (2023 - 2031) | 24.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Smart Clothing Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Smart Clothing Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The smart clothing market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for smart clothing and strategies:
The “Smart Clothing Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The incremental growth expected to be recorded for the global smart clothing market during the forecast period is US$ 12.60 billion.
The global smart clothing market is expected to reach US$ 15.21 billion by 2031.
The key players holding majority shares in the global smart clothing market are AiQ Smart Clothing Inc., Carve Technologies Inc. (Hexoskin), CUTECIRCUIT, Applycon, s. r. o., and Jabil Inc.
The growing need for health and wellness monitoring devices to play a significant role in the global smart clothing market in the coming years.
The growing adoption of smart clothing in the sports and fitness industry and the increasing adoption of sensors for monitoring bodily activities are the major factors that propel the global smart clothing market.
The global smart clothing market was estimated to be US$ 2.61 billion in 2023 and is expected to grow at a CAGR of 24.7% during the forecast period 2023 - 2031.