Smart clothing market set to become mainstream by 2030

Garments and footwear with integrated sensors that transmit biometric information and other datasets will reach new heights of popularity by 2030, with the space set to be worth over $4 billion, according to GlobalData.

Smart clothing is currently largely targeted at people interested in health and fitness.

However, the sports, healthcare and military industries will become key users in the coming years as the value in continuous monitoring of physical activity is recognised. The industry will pass the $1 billion revenue mark by 2023.

A GlobalData report notes that the sector was worth $668 million in 2020, and the ten-year period will see growth at a compound annual growth rate (CAGR) of 21%.

Rupantar Guha, Associate Project Manager for Thematic Research at GlobalData, comments: “Progress in areas such as electronic textiles, artificial intelligence, motion tracking, and haptics will drive growth in the smart clothing market.”

“For now, the smart clothing industry is awaiting investment from leading technology and apparel companies. This will improve the products’ capabilities and influence market adoption, a pressing concern for today's smart clothing vendors.”

Guha concludes: “The Covid-19 pandemic has hit the smart clothing market, both in terms of shipments and revenues. However, the impact has been limited as smart clothing is in the early stages of development, and the market will recover in 2021.”

“Meanwhile, some vendors are using Covid-19 lockdowns and social distancing mandates as an opportunity to showcase their products, particularly those with healthcare and fitness capabilities.”