South America Smart Clothing Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Product, Connectivity, and End User

The smart clothing market in SAM is expected to grow from US$ 22.57 million in 2019 to US$ 115.53 million by 2027; it is estimated to grow at a CAGR of 23.0% from 2020 to 2027.

Designer brands and well-known clothing manufacturers are teaming up with major technological giants to create new smart wearables. Research and development in clothes has resulted in apparels that illuminate or change colors in certain conditions, or display real-time text or emoticons associated with the user's mood. New designers are now applying their creativity to take an advantage of these possibilities to develop the future fashion. Major sports and fitness apparel manufacturers making a few use cases or pilot projects, for instance, Nike is cooperating with Google to launch gym shoes that can track real-time footprints using Google Earth. The above mentioned initiative and product developments have paved way for the rise in the demand for smart textiles, which is expected to drive the SAM smart clothing market growth during 2020-2027. The applications of smart clothing is expected to boost the fashion industry is among the other factors expected to positively influence the demand for smart clothing.

The technology industry is one of the victims of COVID-19, and since the start of 2020, this industry has been reflecting the declining trend. With the imposition of lockdown across the SAM region, the trades have been witnessing a decline. This is because the critical smart clothing purchasing countries have been restricting their investment on these components and are utilizing a fair percentage of their budget to combat COVID-19. The temporary shutdown of manufacturing facilities is also showcasing a negative trend in the SAM smart clothing market.

Based on end user, the sport and fitness segment led the SAM smart clothing market in 2019. Due to increase in use of smart sports bras that record running distance, breathing rates, and heart rates with the help of sensors, there is a rise in demand for smart innerwear from the sport and fitness industry. Smart textiles are bringing in a dramatic change for athletes at all levels. Sports started taking advantage of the rising use of advanced technology to enhance the sportsperson's capability. Smart sportswear provides effective solutions to sports individuals and helps them seek more comprehensive data on their performance and fitness. The adoption of smart clothing boosts the comfort level of the user and eradicates the use of large equipment such as chest straps. The athletes, as well as major-league players, persistently endeavor to increase their performance. The application of smart clothing allows them to store data for analysis by integrating lightweight devices in their sportswear and helping them maintain their fitness. The smart clothing in the sports and fitness application includes sneakers with motion-sensing chips; jackets that simulate hugs for ADHD patients; conductive textile wrap and sock monitor for fitness; and motion analysis insole, which is fueling the growth of the SAM smart clothing market.

The overall SAM smart clothing market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the SAM smart clothing market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the SAM smart clothing market. Key players operating in the SAM smart clothing market include Carre Technologies inc. (Hexoskin); Sensoria Inc.; Under Armour, Inc.; Jabil Inc.; and Google LLC.

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