Smart clothing, or e-textiles, will grow rapidly in the next five years, reaching $11 billion by 2025, up from just $1 billion this year, according to a new report from Juniper Research.
This anticipated increase will boost the smart clothing market to become the largest fitness wearable sector by revenue. Meanwhile, falling prices on consumer wearables — such as smart bands and fitness trackers — will post a revenue of $5.3 billion by 2025, half that of smart clothing.
Smart clothing can be used for different applications such as analyzing cadence, exercise form and positioning. This has led to increased demand for these products among fitness enthusiasts and professional sports teams.
Because the fitness suppliers have grown in number and competition in the market is flourishing, Juniper Research believes that established players will lose substantial market share without incorporating personalized offerings such as providing insights and long-term diagnostics. As a result, Juniper expects Fitbit’s shipments to drop by 7.5% between 2020 and 2025.
However, a possible solution being explored by Fitbit is the development of a subscription model, which has so far not been an effective approach for the health and fitness industry. But devices that provide coaching and feedback may be able to change this, Juniper said.
Learn more about Juniper Research’s findings with its Health & Fitness Wearables market research.
