South America Smart Clothing Market is expected to reach US$ 115.53 Mn by 2027

Apparel Segment to Dominate SAM Smart Clothing Market during Forecast Period

According to The Insight Partners market research study on “SAM Smart Clothing Market Forecast to 2027 – COVID-19 Impact and Regional Analysis and by Type, Product, Connectivity, and End User,” the market is expected to reach US$ 115.53 million by 2027 from US$ 22.57 million in 2019. The market is estimated to grow at a CAGR of 23.0% from 2020 to 2027. The report provides trends prevailing in the SAM smart clothing market along with the drivers and restraints pertaining to the market growth. The use of upper body garment is expected to drive the market growth in the future is the major factor driving the growth of the SAM smart clothing market. However, growing manufacturing cost causing limited consumer acceptance is likely to hinder the growth of the SAM smart clothing market.

The SAM region is expected to witness a significant impact of COVID-19 during the coming few weeks owing to heavy reliance on retailers, suppliers, online, and authorized sales representatives due to lack of prominent manufacturers. The SAM region is projected to register a swift decline in their supply of smart clothing and components from various manufacturers across SAM and have halted their production activities and subsequently disrupting the import of components and equipment to other countries. Moreover, the recent nationwide lockdown across Brazil, Argentina, and rest of SAM has contributed in negatively impacting the demand for smart clothing.

The SAM smart clothing market is segmented into type, product, connectivity, end user, and country. Based on type, the market is segmented into passive, active, and ultra-smart. In 2019, the passive segment held the largest share in SAM smart clothing market. In terms of product, the market is segmented into apparel, footwear, wearable patches, and others. The apparel segment accounted for largest market share in the 2019. Based on connectivity, the market is segmented into Wi-Fi, Bluetooth, GPS, and RFID. In 2019, the Bluetooth segment held the largest share of the SAM smart clothing market. Based on end user, the market is categorized into healthcare, fashion and lifestyle, sport and fitness, military, and others. The sport and fitness segment contributed a substantial share in 2019.

Carre Technologies inc (Hexoskin); Sensoria Inc.; Under Armour, Inc.; Jabil Inc.; and Google LLC are among the leading companies operating in the SAM smart clothing market. The companies are focused on adopting organic growth strategies, such as product launches and expansions, to sustain their position in the dynamic market. For instance, in 2019, Google announced new features for its smart clothing tech Jacquard. In the newly redesigned Jacquard app and new Jacquard Tag, the central sensor allows users to control music and navigation with their “smart clothing” and receive alerts, such as text messages and rideshare notifications.

SAM Smart Clothing Market – by Country, 2019 and 2027 (%)

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South America Smart Clothing Market to Grow at a CAGR of 23.0% to reach US$ 115.53 Million from 2020 to 2027

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South America Smart Clothing Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Active, Passive, and Ultra-Smart), Product (Apparel, Footwear, Wearable Patches, and Others), Connectivity (Wi-Fi, Bluetooth, GPS, and RFID), and End User (Healthcare, Fashion and Lifestyle, Sport and Fitness, Military, and Others)

The report segments the SAM smart clothing market as follows:

• Passive
• Ultra-Smart

SAM Smart Clothing Market – by Product

• Apparel
• Footwear
• Wearable Patches
• Others

SAM Smart Clothing Market – by Connectivity

• Wi-Fi
• Bluetooth
• GPS
• RFID

SAM Smart Clothing Market – by End User

• Healthcare
• Fashion and Lifestyle
• Sport and Fitness
• Military
• Others

SAM Smart Clothing Market – by Country

• Brazil
• Argentina
• Rest of MEA