Executive Summary

Smart clothing is a type of wearable tech. It includes garments and footwear with integrated sensors that transmit biometric and other datasets. Smart clothing is essentially electronic devices designed to communicate with connected devices (like smartphones) and the wearer's body.

Smart Clothing Is Nascent But Will Become Mainstream By 2030

Worth $668m in 2020, the global smart clothing market will expand to over $4bn by 2030, having grown at a compound annual growth rate (CAGR) of 21% over the 10year period, according to GlobalData forecasts. The industry will pass the $1bn revenue mark by 2023. Progress in areas such as electronic textiles, artificial intelligence (AI), motion tracking, and haptics will drive the smart clothing market's growth. Currently, smart clothing products are targeted at consumers, particularly people interested in health and fitness. However, the sports, healthcare, and military industries will become key users of smart clothing in the coming years, valuing the technology's ability to provide continuous monitoring of physical activity. 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.

Covid-19 Has Brought Smart Clothing Use Cases To The Fore

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 smart clothing vendors are using COVID-19 lockdowns and social distancing mandates as an opportunity to showcase their products, particularly those with healthcare and fitness capabilities. For example, Xenoma's smart pajamas and Myant's smart underwear can monitor the health of the sick and elderly. Both products track the wearer's vitals, including heart rate, respiration, and sleep patterns, and alert carers via smartphone apps when they require attention. From a fitness perspective, Wearable X's smart yoga pants and Sensoria's virtual coaching-supported smart vests are used for yoga practice and exercising at home without a trainer.

Leaders

Levi's and Under Armour are the dominant players in smart clothing, with Catapult Sports and Athos their closest competitors. In terms of technology, Google is the leader in smart clothing by default, thanks to the absence of other Big Tech companies in the market.

Challengers

Competition is intensifying between smart clothing start-ups such as Sensoria, Wearable X, Myontec, and Ambiotex and apparel majors like Nike, Adidas, and PVH.

Laggards

Companies that could influence and benefit from the smart clothing market but have yet to join the race lag behind the early adopters. This group includes large technology companies, such as Samsung, Microsoft, and Apple, and leading apparel brands, like Gucci, Louis Vuitton, and Hennes & Mauritz (H&M).