Friday August 25, 2017 0 comments
BOULDER -- Smart clothing shipments will grow from 1.7 million units in 2016 to 26.9 million units by 2022, with body sensor shipments increasing from 2.4 million units in 2016 to 92.1 million units that same year, according to a new report from Tractica, a market intelligence firm.
Together, the two segments will generate $19 billion in annual revenue by the end of the forecast period, the report says.
Smart clothing has been developing a wider ecosystem with more players entering the market and more organizations forming to nurture this nascent industry, the report notes.
There is growing product variety with hats, gloves, shoes, jeans, and accessories entering the smart clothing space. Sports apparel and footwear continue to lead the charge into smart clothing with sensor-infused shirts, shorts, undergarments, and socks that provide more in-depth biometric data than has been previously available in smart watches and fitness bands.
Meanwhile, the body sensor market is experiencing an explosion in potential use cases, the report says, mainly in the medical and sports fields. Professional sports teams continue to adopt the technology, and body sensors continue to be used in clinical trials.
Pharmaceutical companies are using sensors and wearable patches to get a more constant stream of data quickly.
“The market for smart clothing and body sensors is still in the beginning stages, but moving in a positive direction, albeit at a slow pace over the next year or two,” said Sherril Hanson, Tractica research analyst.
“The body sensor market is expected to be larger in the long run due to a wider variety of device types and use cases. Healthcare will be one of the biggest drivers of the body sensor market, particularly connected wearable patches.”
Tractica’s report, “Smart Clothing and Body Sensors”, examines the market opportunities for smart clothing and body sensors including a detailed analysis of market drivers and challenges, market issues and use cases, and technology issues.
The study provides global unit shipment and revenue forecasts through 2022, segmented by device category, application market, connectivity technology, and world region. More than 25 smart clothing and body sensor companies are profiled in depth and the report also includes strategic recommendations for current industry participants, as well as those who are looking to enter the market.
An Executive Summary of the report is available for free download on the firm’s website.