The global smart fashion market is anticipated to grow at a significant CAGR during the forecast period (2022- 2028). Smart fashion is also referred to as high-tech clothes, smart wear, electronics textiles, or smart fabrics. There are smart clothes available that monitor the wearer’s physical condition. It provides biometric data such as temperature, pulse rate, muscle stretch, and heart rhythm. Additionally, there are smartwatches available that run apps and playback all sorts of digital media, such as audio tracks or radio streamed to Bluetooth headphones. Many of these watches have touchscreens, which allow the user to access functions like a calculator, thermometer, compass, and more.
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The increase in adoption of such smart fashion accessories in sports and healthcare and the growing awareness about physical fitness coupled with the increasing demand for smart shirts, smart socks, smartwatches, and others are some factors driving the growth of the global smart fashion market. Additionally, smart clothing supports users effectively manage their health and wellness. It monitors the physical state and tracks the training progress of the user and also enhances the workout efficiency and improves the performance of the user. These are some factors accelerating the growth of the market. However, the high cost of smart fashion products and lack of awareness regarding the use of these products are some restraining factors for the growth of the market.
Some major players in the market include Nike, Inc., Adidas AG, and AiQ Smart Clothing, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in March 2020 Liquid X partnered with Powercast to support manufacturers implement wearable sensors directly into garments. Additionally, in February 2019, KBS Fashion Group Ltd., a Chinese men’s casual wearables firm acquired Tribe, a smart clothing technology company to expand its AI-based smart clothing product portfolio in China.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Textile Type
- By Product Type
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Nike, Inc., Adidas AG, and AiQ Smart Clothing, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Smart Fashion Market Report by Segment
By Textile Type
- Active Smart
- Passive Smart
- Ultra Smart
By Product Type
- Smart Clothing
- Smart Accessories
By End-User
- Military and Defense
- Sports and Fitness
- Healthcare
- Fashion and Entertainment
- Others
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