According to ResearchAndMarket.com’s report “Smart Connected Clothing—Global Market Trajectory & Analytics,” amid the COVID-19 crisis, the market for smart connected clothing is estimated to be US$241.7 million in 2020 and is projected to reach a revised size of US$2.2 Billion by 2027, growing at a CAGR of 37.2% over the analysis period 2020–2027.
The Smart Connected Clothing market in the U.S. is currently estimated at US$73.1 million. China, the world`s second largest economy, is forecast to reach a projected market size of US$352.2 Million by the year 2027 trailing a CAGR of 35% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 34.1% and 31.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 25% CAGR.