Smart Clothing Statistics 2024 By Revenue and Facts

WHAT WE HAVE ON THIS PAGE Introduction Smart Clothing Statistics: Smart clothing is the advanced fusion of technology and fashion equipped with electronic components such as sensors, transmitters, and receivers. These clothes are designed to track users’ biometrics, heart rate, body temperature, and breathing and can respond according to changes and many other features. Currently, the demand seems highest in the sports and defense sector. If you want to learn the facts, this Smart Clothing Statistics will effectively guide you about different smart clothing market segments and their current global trends. Editor’s Choice The global smart clothing market is projected to reach $5.3 billion by 2024 and $7.63 billion by the end of 2026. The healthcare industry and professional sportspersons will account for almost 30% of the market’s revenue. The Asia Pacific is projected to grow at the fastest CAGR of 14% from 2022 to 2032. During the same period, the demand for smart shirt products will cross 14% of CAGR. Using smart medical clothes is supposed to cover a 30% share of the global market. As of 2024, the smart clothing market in North America is expected to reach $3 billion with a CAGR of 50% from 2017 to 2024. In the United States, the market value of intelligent clothing for professional sportspersons and the healthcare industry will be projected up to $23.28 billion by 2026. The top 5 smart clothing manufacturers, such as Nike, Adidas, Under Armour, Hexoskin, and Levi’s, hold a market share of 25%. Total market revenue generated by China will be the fastest-growing country for smart clothing, resulting in $17.5 billion from 2023 to 2029. Total shipment of smart garments in 2024 is predicted to grow by 11.9%. Facts About Smart Clothing Advanced equipped sensors that are attached to smart shirts allow for monitoring heart health and diabetes management, enable muscle relaxation, and also improve overall quality of life. Several products are available within the industry, such as Smart Socks, Insoles, Pants, Jackets, Shirts, Dresses, Suits, Scarves, Bras, and Shoes. As of 2024, some of the best tech clothes available in the market are Nadi X Yoga Pants, Sensoria Fitness Socks, Levi’s Commuter x Jacquard Jacket, UA Recover Clothing, Siren Diabetic Socks, Snap Spectacles 3, and Neviano Swimsuits. Some practical benefits of using smart clothes are monitoring health conditions, improving athletic performance, and enabling better sleep. Other disadvantages are high costs, daily life disruption, and privacy concerns General Smart Clothing Statistics The smart clothing industry is estimated to reach a valuation of $23.28 billion by 2032. In the next ten years, from 2022 to 2032, the global industry is estimated to expand at a CAGR of 25%. The leading service provider of major smart clothing are Smart Clothing Inc., Alphabet Inc., Sensoria Inc., OMsignal Inc., CuteCircuit Ltd., Carre Technologies Inc., MAD Apparel Inc., Wearable X, etc. According to Goldstein Research analyst, by 2025, the industry’s market will grow to $1175 million with a CAGR of 29.3% from 2017 to 2025. Market Size Statistics of Smart Clothing and Global E-Textile (9 Years Analyses fFrom 2021 to 2028) (Reference: acumenresearchandconsulting.com) The global market valuation of intelligent clothing and e-textiles in 2023 has resulted in $3,415.4 million. Due to technological advancements in coming years, the usage of smart clothing in different sectors is going to enhance more, such as in 2024 ($4,459.8 million), 2025 ($5,908 million), 2026 ($7,960.4 million), 2027 ($10,869.1 million), and 2028 ($15,018.9 million). The projected annual growth of the industry from 2021 to 2028 is expected to reach 32.3% CAGR. Smart Clothing Market Size Comparison Statistics (5 Years Analyses) (Reference: statista.com) A report published by Mordor Intelligence in early 2020 states that by 2024, the estimated size of the smart clothing market will be $4.95 billion. A 2019 report by Markets and Markets has claimed that the market size will exceed $5.3 billion. Meanwhile, two published reports by Mordor Intelligence (2020) and Grand View Research (2019) stated that by 2025 end, the industry’s market size will reach $5.93 billion and $5.64 billion, respectively. 2021 Research and Markets published a report stating that the global smart clothing/fabric market is estimated to reach $6.42 billion by the end of 2027. By Geography The Asia Pacific is projected to grow at the highest CAGR of 14% from 2022 to 2032. Other regions, such as the European and North American markets, will grow at a CAGR of more than 12% and 10%, respectively, within the above-forecasted year. Furthermore, country-wise annual growth rate within the same period will result in 18% (the United States), 14% (China), India (12%), and France (10%) (Reference: cloudfront.net) As of 2024, the smart clothing market in North America is expected to reach $3 billion with a CAGR of 50% from 2017 to 2024. By Demographics As of 2023, females are the most users of smart clothes, with a share of 81.3%, and males (18.7%). The age group user’s statistics are followed by 18 years to 25 years (86.2%), 26 years to 30 years (9.3%), and above 31 years (4.4%). Based on educational qualification, the usage shares are graduate degree and above (40%), University (57.3%), and high school (2.7%) By Industries (Source: nextmsc.com) Recently, in the smart clothing industry, the leading market growth has been estimated to be achieved by the military and industrial submarket, resulting in a 36% CAGR from 2016 to 2026. As of 2023, the market valuation for smart Military clothing accounted for $0.66 billion and is expected to cross over $1.35 billion by 2028 with a CAGR of 15.37% from 2023 to 2028. The smart clothing market has accounted for an enormous growth of $15 billion in the healthcare industry. The utilization of smart clothes in healthcare sectors is supposed to hold a 30% share of the global market, in which the Asia Pacific will cover the highest CAGR of 24.5% from 2020 to 2026. The growth rate of smart garments/fabrics for the sports and fitness industry will grow at a CAGR of 25.70% from 2024 to 2029. By Product Type (Source: fairfieldmarketresearch.com) The global market size of activewear has reached $393.2 billion in 2023 and is expected to approach $627.3 billion by 2032, with a growth rate of 5.2%. According to a report published by Statista, in 2023, the smart wear-to-work clothing market will account for $292 billion. By the end of 2023, the valuation of smart sleepwear resulted in $12,623 million, with a growth rate of 10.1% CAGR from 2023 to 2029. Lastly, the smart shoes made a market valuation of $270 million. By Material Type (Source: idtechex.com) According to the e-textiles and smart clothing market, a survey was conducted in 2023 with 256 industry players that stated their preferred material type for manufacturing smart clothes. 78% of survey respondents have used conductive fibers, and 49% used conductive Inks. Furthermore, other used material types are fibers only (47%), Ink only (18%), Ink and fibers (11%), Ink and polymers (4%), fibers and polymers (2%), and all three (17%). Smart Fabrics Statistics (Source: mordorintelligence.com) By 2024, the estimated market size of smart fabrics will reach $6.81 million units. The industry’s annual growth rate will grow at a CAGR of 10.85% and is expected to cross $11.38 million units by the end of 2029. Conclusion Smart clothing is new in the global market and will soon become a part of our daily lives like Smartphones and other smart wearables. With ever-advancing technology, manufacturers are doing their best to enhance the market at its highest peak along with intelligent features. As mentioned in this paper, many smart garments are available. Smart clothes reflect our personality and enhance our lifestyle; thus, the industry will expand enormously in the coming future. Related Categories Wearable Tech Post navigation Related Reads Coolest Gadgets is reader-supported. When you buy through links […] Coolest Gadgets is reader-supported. When you buy through links […] Coolest Gadgets is reader-supported. When you buy through links […]

Total
0
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *

Prev
Code Llama 70B is now available in Amazon SageMaker JumpStart

Code Llama 70B is now available in Amazon SageMaker JumpStart

Today, we are excited to announce that Code Llama foundation models, developed

Next
First Train Set Unveiled For Meerut Metro Project Handed Over To NCRTC In Gujarat

First Train Set Unveiled For Meerut Metro Project Handed Over To NCRTC In Gujarat

Under the manufacturing contract awarded to M/s Alstom, the Meerut Metro project

You May Also Like