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Smart Fitness Wear Market is predicted to see lucrative gains till 2023, U.S. Dominated the regional landscape

Author : Ronak Bora | Published Date : 2019-04-04 

U.S. smart fitness wear market size is expected to demonstrate considerable growth from 2016 to 2023. Asia Pacific is predicted to experience significant growth prospects owing to low production cost across the region. Europe expected to exhibit moderate growth rates owing to presence of leading industry participants across the region.

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Escalating adoption of GPS equipped smart sports vest is expected to further provide a fillip to smart fitness wear market growth from 2016 to 2023. These wearables collect data such as distance and speed. Features including body stress measurement also help prevent potential injury.

High price associated with these products may hamper the smart fitness wear market demand over the forecast period. Moreover, recreational fitness popularity accompanied by corporate wellness programs is projected to widen the customer base. Apart from smart training these products are also predicted to help in injury prevention while and after training as they generate and provide information online as well as offline.

High disposable income accompanied by rising innovative projects in healthcare & electronics industry is projected to offer massive growth prospects over the next seven years. Based on product, the smart fitness wear industry can be segregated in to shirt, t-shirt, leggings, bras, jackets, shoes and in-soles.

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Wearable technology market size was approximately USD 25 billion in 2015. Surging demand for technologically advanced products along with increasing need for innovative features is anticipated to boost smart fitness wear market growth. Growing awareness regarding personal fitness management is also predicted to positively impact the industry demand over the next seven years.

Smart fitness wear market is predicted grow at over 30% CAGR from 2016 to 2023 and is likely to hit USD 4.5 billion by 2023. Rising consciousness regarding health and fitness among individuals is anticipated to drive industry growth over the forecast period.

Industry participants accumulating major smart fitness wear market share include Athos, Intelligent Clothing, International Fashion Machines, Interactive Wear, Schoeller Textiles. Other prominent industry players are Textronics, Vista Medical Textronics, Gentherm and Sensoria.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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