Report : Middle East and Africa 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 and Lifestyle, Sport and Fitness, Military, and Others)
Passive Segment to Dominate MEA Smart Clothing Market during Forecast Period
According to The Insight Partners market research study on “MEA Smart Clothing Market Forecast to 2027 – COVID-19 Impact and Analysis – by Type, Product, Connectivity, and End User,” the market is expected to reach US$ 455.68 million by 2027 from US$ 74.79 million in 2019. The market is estimated to grow at a CAGR of 25.7% from 2020 to 2027. The report provides trends prevailing in the MEA smart clothing market along with the drivers and restraints pertaining to the market growth. Growing demand for smart clothing in healthcare and sport and fitness industries is the major factor driving the growth of the MEA smart clothing market. However, high manufacturing cost of smart clothing hinder the growth of the MEA smart clothing market.
In MEA, South Africa has the highest number of COVID-19 confirmed cases, followed by Saudi Arabia and UAE. UAE was the first country in MEA to report a confirmed case of coronavirus. The MEA region is expected to witness a significant impact of COVID-19 during the coming few weeks owing to heavy reliance on retailers, suppliers, online, and authorized sales representatives due to lack of prominent manufacturers present in that region. The MEA region is projected to register a swift decline in their supply of smart clothing and components from various manufacturers across MEA and have halted their production activities and subsequently disrupting the import of components and equipment to other countries. Moreover, the recent nationwide lockdown across South Africa, Saudi Arabia, and UAE has contributed in negatively impacting the demand for smart clothing.
The MEA smart clothing market is segmented into type, product, connectivity, end user, and country. Based on type, the market is segmented into passive, active, and ultra-smart. In 2019, the passive segment held the largest share in MEA smart clothing market. In terms of product, the market is segmented into apparel, footwear, wearable patches, and others. The apparel segment accounted for largest market share in the 2019. Based on connectivity, the market is segmented into Wi-Fi, Bluetooth, GPS, and RFID. In 2019, the Bluetooth segment held the largest share of the MEA smart clothing market. Based on end user, the market is categorized into healthcare, fashion and lifestyle, sport and fitness, military, and others. The sport and fitness segment contributed a substantial share in 2019.
CUTECIRCUIT; Myontec Ltd; Under Armour, Inc.; Jabil Inc.; and Google LLC are among the leading companies operating in the MEA 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 2017, Under Armour launched a new sleep & recovery system powered by TB12 and a new UA Record app experience. The system was developed in collaboration with Under Armour athlete Tom Brady. It works by tracking sleep and providing detailed analysis and custom coaching.
The report segments the MEA smart clothing market as follows:
MEA Smart Clothing Market – by Type
MEA Smart Clothing Market – by Product
MEA Smart Clothing Market – by Connectivity
MEA Smart Clothing Market – by End User
MEA Smart Clothing Market – by Country