SCOTTSDALE, Ariz., June 1, 2016 /PRNewswire/ -- Smart clothing will soon extend beyond fitness to target a wide range of personal, health, and enterprise uses, disrupting traditional fashion trends. In new analysis by ABI Research, the leader in transformative technology innovation market intelligence, the smart clothing market will top 18 million clothing articles annually by 2021, a 48% CAGR.
"Smart clothing today targets mostly sports professionals," says Ryan Harbison, Research Analyst at ABI Research. "However, the forward-looking brands are pursuing worker and public servant safety, interactive gaming, children's health monitoring, and the elder care markets. New market segments not only expand the addressable market but also serve to prove that the technology can perform in a broader and more austere set of environmental conditions and applications."
Innovative players driving adoption include Athos, Heddoko, Hexoskin, Mimo, Mondevices, OMsignal, Owlet, Sensoria, and Textronics. And recently joining these brands are giants such as Ralph Lauren, Google and Levi's. Given the market's growing popularity, ABI Research expects it will only be a matter of time before some of the larger tech players enter this space, too.
"The biggest challenge for this segment is ruggedizing the technology that makes the clothing smart," concludes Harbison. "But as is the case in all IoT markets, partnerships will be even more critical to create durable, practical, and fashionable products that consumers want and are willing to pay a premium price. Partnerships will need to include wearables OEMs who will compete with, but also can complement, smart clothing."
These findings are part of ABI Research's mHealth Wearables, Platforms, and Services Research Service (https://www.abiresearch.com/market-research/service/mhealth/), which includes research reports, market data, insights, and competitive assessments.
About ABI Research
For more than 25 years, ABI Research has stood at the forefront of technology market intelligence, partnering with innovative business leaders to implement informed, transformative technology decisions. The company employs a global team of senior analysts to provide comprehensive research and consulting services through deep quantitative forecasts, qualitative analyses and teardown services. An industry pioneer, ABI Research is proactive in its approach, frequently uncovering ground-breaking business cycles ahead of the curve and publishing research 18 to 36 months in advance of other organizations. In all, the company covers more than 60 services, spanning 11 technology sectors. For more information, visit www.abiresearch.com.
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SOURCE ABI Research