Wearable devices are seen as the next evolution in the computer and textile industries. In 2022, the market saw a rush in wearables used for the face, ears, feet and wrists. Moreover, with the evolution of cultural changes, lifestyle, IT and cyclical attitudes, industries such as fashion, textile and IT have started to merge. Smartwatches and activity trackers were the main end products sold in the world of wearable technology. However, smart fashion is expected to become one of the emerging markets in this field in the next 5 years. This opportunity has resulted in the increase in the number of clothing companies to exploit the development and innovative designs. For now, consumers are interested in the use of IT and smart textiles in the fashion industry, creating opportunities for fashion designers to come up with new innovative ideas to capture market share and stand out from the competitive industry.
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The sports industry was the first to embrace the smart fashion trend, helping to monitor emotions, track heart rate and more – without tethering to a cellphone or smartwatch screen. The “Global Smart Fashion Market” is expected to reach USD XX Million by 2022, growing at a CAGR of XX% during the forecast period 2022-2030. The smart fashion market is set to grow owing to its advantages in tracking and monitoring individual health. Majority of companies focus on fitness wearables as they try to implement wearables with more sensors and apps.
The smart fashion market research will talk about smart clothes and smart accessories. Additionally, the report talks about demographics, regions, and industry verticals. The smart clothing market is segmented into T-shirts, underwear, socks, jackets, shoes, and others. T-shirt segment will hold majority share and is expected to reach USD XX Million by 2030. T-shirt market is growing as majority of wearable devices are implemented in t-shirts to track and monitor health. The smart accessories market is segmented into jewelry, bags, wallets, and others. The jewelry segment accounts for the majority of the market share, which is expected to reach USD XX million by 2030, growing at a CAGR of XX%.
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According to regional segmentation, the Americas hold the majority market share, followed by Western European countries. The wide acceptance of smart clothing and jewelry is the major driver of market growth in these regions. APAC will see the fastest growth due to the emergence of small start-ups and improvisation in knowledge sharing. MEA imposes restrictions on women’s clothing, which reduces opportunities for global suppliers.
Hexoskin, Ralph Lauren, OmSignal, Athos, Clothing+, Owlet Baby Care, Sensoria Fitness, AiQ Smart Clothing, Heddoko, Nike, Under Armour, Adidas, Samsung, Catapult Sports
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The study covers and analyzes the “Worldwide Smart Fashion (Apparel and Accessories)” market. Bringing out comprehensive key industry information, the report aims to provide players with an opportunity to understand the latest trends, current market scenario, government initiatives, and market related technologies. Also, helps the venture capitalist to better understand the businesses and make informed decisions