Europe Smart Clothing Market is expected to reach US$ 1,861.24 Mn by 2027

RFIDSegment to DominateEurope Smart Clothing Market during 2019–2027

According to The Insight Partners market research study on “Europe Smart Clothing Market to 2027 – COVID-19 Impact and Analysis and Forecast by Type,Product, Connectivity, and End User,”is expected to reach US$ 1861.24million by 2027 from US$ 325.08million in 2019. The market is estimated to grow at a CAGR of 24.7% from 2020 to 2027. The report provides trends prevailing in the Europe smart clothing market along with the drivers and restraints pertaining to the market growth.Mounting demand of smart wearable from sports & fitness, and healthcare sector backed by rising sales of upper body segment in smart clothing are the major factor driving the growth of the Europe smart clothing market. However, high cost of product and regulatory complianceshinder the growth of Europe smart clothing market.

The Europe smart clothing market is segmented into type, product, connectivity, end user, and country. Based on type, the market is segmented into active, passive, and ultra-smart. In 2019, the passive segment held the largest share Europe smart clothing market. Based on product the Europe smart clothing market is divided into apparel, footwear, wearable patches, and others. Wearable patchesis expected to the fastest growing segment over the forecast period.On the basis of connectivity, the market is segmented into Wi-Fi, Bluetooth, GPS, and RFID. The Bluetooth segment accounts for largest market share in the 2019. Similarly, based on end user, the market is bifurcated into healthcare, fashion & lifestyle, sport & fitness, military, and others. The sport & fitnesssegment contributed a substantial share in 2019.

The outbreak of COVID-19 has affected the economic stability in Europe, so far, the Italy and Spain are the most affected countries in Europe disrupting the revenue generation of smart clothing market. Meanwhile, western European countries like Germany, France, United Kingdom and other did not witness drastic impact on COVID-19 owing to its robust healthcare infrastructure have witnessed a comparatively moderate decline in their demand for various essential services including smart clothing. In order to contain the spread of corona virus the governments in Europe imposed travel restrictions, factories and businesses shutdowns, and lockdowns but these containment measure ultimately affected the revenue generation and growth opportunities in Europe. The COVID-19 consequences are expected to continue negatively impact the market and virtually disrupt the market growth across selected countries during the coming few months.

CUTECIRCUIT, Google LLC, Jabil Inc., Myontec Ltd, and Under Armour, Inc.are among the leading companies in the Europe smart clothing market.The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Google teamed with Adidas and Electronic Arts for its next piece of smart clothing as a part of its Jacquard project.

Europe Smart Clothing Market, By Country, 2019 and 2027 (%)

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Europe Smart Clothing Market to Grow at a CAGR of 24.7% to reach US$ 1,861.24 Million from 2020 to 2027

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Europe Smart Clothing Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Active, Passive, and Ultra-Smart), Product (Apparel, Footwear, Wearable Patches, and Others), Connectivity (Wi-Fi, Bluetooth, GPS, and RFID), and End User (Healthcare, Fashion & Lifestyle, Sports & Fitness, Military, and Others)

The report segments the Europe Smart Clothing Marketas follows:

Europe Smart Clothing Market – By Type

• Passive
• Active
• Ultra-Smart

Europe Smart Clothing Market – By Product

• Apparel
• Footwear
• Wearable Patches
• Other

Europe Smart Clothing Market – By Connectivity

• Wi-Fi
• Bluetooth
• GPS
• RFID

Europe Smart Clothing Market – By End User

• Healthcare
• Sport and Fitness
• Fashion and Lifestyle
• Military
• Others

Europe Smart clothing market – By Country

• France
• Germany
• UK
• Russia
• Italy
• Rest of Europe