South America Smart Clothing Market to Grow at a CAGR of 23.0% to reach US$ 115.53 Million from 2020 to 2027
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.
Brazil and Argentina are major economies in SAM. Use of upper wear has gained momentum over the past few years. Rising demand for upper body garments such as smart shirts, jackets, and vests creates market growth opportunities. A smart shirt can provide biometric data, such as heart rate, respiratory rate, and muscle activity, used professionally to optimize performance and workout plans. Data is captured and sent to all companion apps, providing insight into a range of sporty metrics, including intensity and recovery, calories burned, fatigue level, and sleep quality. Therefore, increasing use of upper wear for various end-user applications is expected to provide lucrative opportunities to smart clothing providers during the forecast period. Bioman+, for example, is a base upper body garment solution for a wide range of cleaning solutions. It consists of conductive fiber-based textile electrodes for acquisition of the human body's electrical activity and conductive thread for transmission of electrical signals to the processing and transmission module snapped onto the clothing. Bioman+ has been validated with most of the industry's leading heart rate & ECG module vendors. It continues to be the smart clothing partner of the first choice for new module vendors entering this rapidly growing segment. Thus, increase in use of upper wear is expected to create a significant demand for smart clothing in the coming years, which is further anticipated to drive the market in SAM.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 South America smart clothing market. The continuity of the COVID-19 spread would affect the businesses of SAM smart clothing market players.
With the new features and technologies coming in SAM smart clothing market, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM smart clothing market. The SAM smart clothing market is expected to grow at a good CAGR during the forecast period.
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SAM Smart Clothing Market Segmentation
SAM Smart Clothing Market – by Type
- Active
- 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 SAM
SAM Smart Clothing Market - Companies Profiles
- Carre Technologies inc (Hexoskin)
- Sensoria Inc.
- Under Armour, Inc.
- Jabil Inc.
- Google LLC
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Product, Connectivity, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Brazil, Argentina
1. Introduction
1.1 Scope Of The Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 SAM Smart Clothing Market – By Type
1.3.2 SAM Smart Clothing Market – By Product
1.3.3 SAM Smart Clothing Market – By Connectivity
1.3.4 SAM Smart Clothing Market – By End User
1.3.5 SAM Smart clothing market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. SAM Smart Clothing Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. SAM Smart Clothing Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Use of upper wear is expected to drive the market growth in the future
5.2 Market Restraints
5.2.1 Growing manufacturing cost causing limited consumer acceptance
5.3 Market Opportunities
5.3.1 Applications of smart clothing is expected to boost the fashion industry
5.4 Future Trends
5.4.1 Need of gesture recognition in smart clothing
5.5 Impact analysis of Drivers and Restraints
6. SAM Smart Clothing Market Analysis
6.1 Overview
6.2 SAM Smart Clothing Market Revenue And Forecasts To 2027 (US$ Million)
6.3 SAM Market Positioning – Five Key Players
7. SAM Smart Clothing Market – By Type
7.1 Overview
7.2 SAM Smart Clothing Market, By Type (2019 and 2027)
7.3 Passive
7.3.1 Overview
7.3.2 Passive: Smart Clothing Market Revenue and Forecasts to 2027 (US$ Million)
7.4 Active
7.4.1 Overview
7.4.2 Active: Smart Clothing Market Revenue and Forecasts to 2027 (US$ Million)
7.5 Ultra-Smart
7.5.1 Overview
7.5.2 Ultra-Smart: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
8. SAM Smart Clothing Market Analysis – By Product
8.1 Overview
8.2 SAM Smart Clothing Market, By Product (2019 and 2027)
8.3 Apparel
8.3.1 Overview
8.3.2 Apparel: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Footwear
8.4.1 Overview
8.4.2 Footwear: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Wearable Patches
8.5.1 Overview
8.5.2 Wearable Patches: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
9. SAM Smart Clothing Market Analysis – By Connectivity
9.1 Overview
9.2 SAM Smart Clothing Market, By Connectivity (2019 and 2027)
9.3 Wi-Fi
9.3.1 Overview
9.3.2 Wi-Fi: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
9.4 Bluetooth
9.4.1 Overview
9.4.2 Bluetooth: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
9.5 GPS
9.5.1 Overview
9.5.2 GPS: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
9.6 RFID
9.6.1 Overview
9.6.2 RFID: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
10. SAM Smart Clothing Market Analysis – By End User
10.1 Overview
10.2 SAM Smart Clothing Market Breakdown, by End User, 2019 & 2027
10.3 Healthcare
10.3.1 Overview
10.3.2 Healthcare: Smart Clothing Market Revenue and Forecast to 2027 (US$ Million)
10.4 Sport and Fitness
10.4.1 Overview
10.4.2 Sport and Fitness: Smart Clothing Market Revenue and Forecast to 2027 (US$ Million)
10.5 Fashion and Lifestyle
10.5.1 Overview
10.5.2 Fashion and Lifestyle: Smart Clothing Market Revenue and Forecast to 2027 (US$ Million)
10.6 Military
10.6.1 Overview
10.6.2 Military: Smart Clothing Market Revenue and Forecast to 2027 (US$ Million)
10.7 Others
10.7.1 Overview
10.7.2 Others: Smart Clothing Market Revenue and Forecast to 2027 (US$ Million)
11. SAM Smart Clothing Market – Country Analysis
11.1 Overview
11.1.1 SAM: Smart Clothing Market, by Key Country
11.1.1.1 Brazil: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.1.1 Brazil: Smart Clothing Market, by Type
11.1.1.1.2 Brazil: Smart Clothing Market, by Product
11.1.1.1.3 Brazil: Smart Clothing Market, by Connectivity
11.1.1.1.4 Brazil: Smart Clothing Market, by End User
11.1.1.2 Argentina: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.2.1 Argentina: Smart Clothing Market, by Type
11.1.1.2.2 Argentina: Smart Clothing Market, by Product
11.1.1.2.3 Argentina: Smart Clothing Market, by Connectivity
11.1.1.2.4 Argentina: Smart Clothing Market, by End User
11.1.1.3 Rest of SAM: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
11.1.1.3.1 Rest of SAM: Smart Clothing Market, by Type
11.1.1.3.2 Rest of SAM: Smart Clothing Market, by Product
11.1.1.3.3 Rest of SAM: Smart Clothing Market, by Connectivity
11.1.1.3.4 Rest of SAM: Smart Clothing Market, by End User
12. SAM Smart Clothing Market – COVID-19 Impact Analysis
12.1 SAM: Impact Assessment of COVID-19 Pandemic
13. Smart Clothing Market - Industry Landscape
13.1 Market Initiative
13.2 New Development
14. Company Profiles
14.1 Carre Technologies inc (Hexoskin)
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Sensoria Inc.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Under Armour, Inc.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Jabil Inc.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Google LLC
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. SAM Smart Clothing Market Revenue and Forecasts to 2027 (US$ Million)
Table 2. SAM Smart Clothing Market, by Country – Revenue and Forecast to 2027 (USD Million)
Table 3. Brazil: Smart Clothing Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 4. Brazil: Smart Clothing Market, by Product – Revenue and Forecast to 2027 (US$ Million)
Table 5. Brazil: Smart Clothing Market, by Connectivity – Revenue and Forecast to 2027 (US$ Million)
Table 6. Brazil: Smart Clothing Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 7. Argentina: Smart Clothing Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 8. Argentina: Smart Clothing Market, by Product – Revenue and Forecast to 2027 (US$ Million)
Table 9. Argentina: Smart Clothing Market, by Connectivity – Revenue and Forecast to 2027 (US$ Million)
Table 10. Argentina: Smart Clothing Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 11. Rest of SAM: Smart Clothing Market, by Type – Revenue and Forecast to 2027 (US$ Million)
Table 12. Rest of SAM: Smart Clothing Market, by Product – Revenue and Forecast to 2027 (US$ Million)
Table 13. Rest of SAM: Smart Clothing Market, by Connectivity – Revenue and Forecast to 2027 (US$ Million)
Table 14. Rest of SAM: Smart Clothing Market, by End User – Revenue and Forecast to 2027 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. SAM Smart Clothing Segmentation
Figure 2. SAM Smart Clothing Segmentation – By Country
Figure 3. SAM Smart Clothing Market Overview
Figure 4. SAM Smart Clothing Market, by Country – 2019 & 2027 (US$ Million)
Figure 5. SAM Smart Clothing Market, by Type - 2019 & 2027 (US$ Million)
Figure 6. SAM Smart Clothing Market, by Product - 2019 & 2027 (US$ Million)
Figure 7. SAM Smart Clothing Market, by Connectivity 2019 & 2027 (US$ Million)
Figure 8. SAM Smart Clothing Market, by End User - 2019 & 2027 (US$ Million)
Figure 9. SAM – PEST Analysis
Figure 10. SAM Ecosystem Analysis
Figure 11. SAM Expert Opinion
Figure 12. SAM Smart Clothing Market Impact Analysis of Driver and Restraints
Figure 13. SAM Smart Clothing Market Revenue And Forecasts To 2027 (US$ Million)
Figure 14. SAM Smart Clothing Market Breakdown, By Type, 2019 & 2027 (%)
Figure 15. SAM Passive: Smart Clothing Market Revenue and Forecasts to 2027 (US$ Million)
Figure 16. SAM Active: Smart Clothing Market Revenue and Forecasts to 2027 (US$ Million)
Figure 17. SAM Ultra-Smart: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. SAM Smart Clothing Market Revenue Share, by Product (2019 and 2027)
Figure 19. SAM Apparel: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. SAM Footwear: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. SAM Wearable Patches: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. SAM Others: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. SAM Smart Clothing Market Revenue Share, by Connectivity (2019 and 2027)
Figure 24. SAM Wi-Fi: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. SAM Bluetooth: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. SAM GPS: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. SAM RFID: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. SAM Smart Clothing Market Breakdown, by End User (2019 and 2027)
Figure 29. SAM Healthcare: Smart Clothing Market Revenue and Forecast to 2027(US$ Million)
Figure 30. SAM Sport and Fitness: Smart Clothing Market Revenue and Forecast to 2027(US$ Million)
Figure 31. SAM Fashion and Lifestyle: Smart Clothing Market Revenue and Forecast to 2027(US$ Million)
Figure 32. SAM Military: Smart Clothing Market Revenue and Forecast to 2027(US$ Million)
Figure 33. SAM Others: Smart Clothing Market Revenue and Forecast to 2027(US$ Million)
Figure 34. SAM: Smart Clothing Market Revenue Share, by Key Country (2019 and 2027)
Figure 35. Brazil: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 36. Argentina: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 37. Rest of SAM: Smart Clothing Market – Revenue and Forecast to 2027 (US$ Million)
Figure 38. Impact of COVID-19 Pandemic in SAM Country Markets
The List of Companies - South America Smart Clothing Market
- Carre Technologies inc (Hexoskin)
- Sensoria Inc.
- Under Armour, Inc.
- Jabil Inc.
- Google LLC
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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