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The smart connected clothing market share is expected to increase by USD 2.95 billion from 2021 to 2026, at a CAGR of 14.84%.
This smart connected clothing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers smart connected clothing market segmentation by distribution channel (offline distribution channel and online distribution channel), end-user (men, women, and children), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The smart connected clothing market report also offers information on several market vendors, including AiQ Smart Clothing Inc., Athos, Carre Technologies Inc., DuPont de Nemours Inc., Interactive Wear AG, Kolon Industries Inc., Myontec Oy, Myzone Group, Noble Biomaterials Inc., Ohmatex AS, OTEX Specialty Narrow Fabrics, Outlast Technologies GmbH, Owlet Baby Care, Schoeller Textil AG, Sensoria Inc., Toyobo Co. Ltd., Vista Medical Ltd., Vulpes Electronics GmbH, and Wearable X among others.
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The technology innovation leading to product premiumization is notably driving the smart connected clothing market growth, although factors such as the availability of alternative smart devices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smart connected clothing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Smart Connected Clothing Market Driver
The technology innovation leading to product premiumization is one of the key drivers supporting the smart connected clothing market growth. Some of the leading technologies which have brought revolutionary changes across the industry are wireless technology, Bluetooth motion sensors, thermal sensors, and others. These technologies are used as the foundational ideas in the concept of smart connected clothing such as skirts, shirts, jeans, and clothing accessories. Thus, technological innovation forms the basis for the manufacturing of smart connected clothing. Most vendors in the global smart connected clothing market are focusing on incorporating the latest features in their smart clothing through connectivity technologies, which helps them to sell their products at a premium price, and this enables the vendors to earn a high-profit margin on these clothing products. Such factors will lead to a positive impact on the market growth during the forecast period.
Key Smart Connected Clothing Market Trend
Growing product promotion through digital marketing and social media is another factor supporting the smart connected clothing market growth. Social media has proven to be a leading platform for product marketing and customer engagement. The key players in the global smart connected clothing market have their presence in the digital and social media platforms. Through several social media platforms, they operate their marketing activities and product promotions. Moreover, they also describe the concept and benefits of smart connected clothing since most of the customers use one or the other social media sites. Thus, it becomes easy for the vendors to build up sales communication with people and acquire them as potential customers. This is because of wide customer outreach and zero cost of marketing activities. Thus, by the end of the forecast period, digital marketing and social media platforms are expected to be the key growth contributors
Key Smart Connected Clothing Market Challenge
The availability of alternative smart devices is one of the factors hindering the smart connected clothing market growth. There is a significant difference in the price of fitness devices and a piece of smart connected apparel. Leading smartwatch makers such as Apple and Samsung promote their products as cheaper than smart clothing. Producers such as Garmin and Fitbit also offer plenty of features in their smart products. Thus, this factor discourages consumers from buying expensive smart clothes; rather, they prefer to own smartwatches and fitness bands produced by renowned vendors. Hence, the availability of such alternative devices will pose a stiff price challenge for the global smart connected clothing market during the forecast period.
This smart connected clothing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global smart connected clothing market as a part of the global apparel, accessories, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart connected clothing market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the smart connected clothing market encompasses successful business strategies deployed by the key vendors. The smart connected clothing market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
AiQ Smart Clothing Inc.
Athos
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The smart connected clothing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the smart connected clothing market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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37% of the market's growth will originate from North America during the forecast period. The US is the key market for smart connected clothing market in North America. Market growth in this region will be slower than the growth of the market in APAC.
A better distribution network, efficient supply chain management, and a good hold on the internet connectivity infrastructure will facilitate the smart connected clothing market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
in 2020 due to the outbreak of COVID-19, which adversely affected the regional economy. However, in 2020, due to the vaccination drive, the government has lifted the lockdown and travel restrictions. Due to this, the manufacturing and supply chain slowly resumed back to normal with proper COVID-19 precautions. Owing to this, the manufacturing supply of smart connected clothing increased in this region. Such factors will increase the demand in the regional smart connected clothing market, which is expected to grow during the forecast period.
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The smart connected clothing market share growth by the offline distribution channel segment will be significant during the forecast period. The offline distribution channel includes specialty stores, departmental stores, and clubhouse stores. Specialty stores constitute one of the leading physical store segment among all the different retail formats for the global smart connected clothing market. Operating their own retail outlets helps manufacturers and distributors to plan their budgets for marketing, promotions, advertising, brand building, training, and IT (Information Technology) support. The effective use of these operations allows them to enhance their customer outreach on their own rather than depending on independent retailers to sell their products. Such factors will boost the market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the smart connected clothing market size and actionable market insights on post COVID-19 impact on each segment.
Smart Clothing market - The market share is projected to grow by USD 4.49 billion with a CAGR of 18.83% during the forecast period 2021 to 2026.
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Smart Connected Clothing Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 14.84% |
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Market growth 2022-2026 |
$ 2.95 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
22.32 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 37% |
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Key consumer countries |
US, Japan, China, UK, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AiQ Smart Clothing Inc., Athos, Carre Technologies Inc., DuPont de Nemours Inc., Interactive Wear AG, Kolon Industries Inc., Myontec Oy, Myzone Group, Noble Biomaterials Inc., Ohmatex AS, OTEX Specialty Narrow Fabrics, Outlast Technologies GmbH, Owlet Baby Care, Schoeller Textil AG, Sensoria Inc., Toyobo Co. Ltd., Vista Medical Ltd., Vulpes Electronics GmbH, and Wearable X |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Distribution Channel
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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