LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global smart connected clothing market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global smart connected clothing market will grow at a CAGR of around 43% during the forecast period. Technology innovation leading to product premiumization is a major factor driving the market’s growth.
The market is driven mostly by the innovations in connectivity technologies. The world has witnessed an emergence of potential technologies in the last decade. Some of the leading technologies that have brought revolutionary changes across the industry are wireless technology, Bluetooth motion sensors, thermal sensors, infrared (IR), near frequency communication (NFC), pulse oximetry technology, and electrocardiogram (ECG) technology. These technologies are used as the preliminary ideas in the concept of smart connected clothing such as skirts, shirts, jeans, and clothing accessories.
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In this report, Technavio highlights the growing product promotion through digital marketing and social media as one of the key emerging trends driving the global smart connected clothing market:
Growing product promotion through digital marketing and social media
The growing Internet technology and innovations in Internet applications have brought a radical change in the promotional and marketing activities of vendors in the market. Unlike past decades, where print media and radio communication used to be the key modes of communication, digital marketing campaigns and promotional activities are gaining popularity in the market in the recent times. Such campaigns and activities are carried on leading digital platforms such as YouTube, Facebook, LinkedIn, Instagram, and Pinterest. Social media has proven to be a leading platform for product marketing and customer engagement.
The major players in the global smart connected clothing market have their presence in the digital and social media platforms. They operate their marketing activities and product promotions through several social media platforms. Furthermore, they also describe the concept and benefits of smart connected clothing as most of the customers use at least one social media site. Therefore, it becomes easy for the vendors to build up sales communication with people and acquire them as potential customers.
“Digital marketing has become a key tool for product marketing, besides the conventional marketing channels. This is due to the wide customer outreach and zero cost of marketing activities. By the end of the forecast period, digital marketing and social media platforms are anticipated to be the key growth contributors,” says a senior analyst at Technavio for research on apparel and textile.
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Global smart connected clothing market segmentation
This market research report segments the global smart connected clothing market into the following end-users (men, women, and children) and key regions (the Americas, APAC, and EMEA).
With a share of more than 54%, the men's clothing category was the largest segment of the global smart connected clothing market in 2017. This segment is expected to project significant growth during the forecast period.
In 2017, the Americas was the major revenue contributor to the global market with a total revenue share of more than 42%. This region is anticipated to witness steady growth during the forecast period.
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