A study by Allied Market Research says, wearable technology market was valued at US$19.6 billion in 2015, growing at a compound annual growth rate of 16.2 per cent to reach US$57.7 billion by 2022. The forecast highlights the sector's potential to boost the overall fashion industry.
The topic will be examined at a seminar titled "Wearable Technologies for Future Fashion." Jointly organised by the HKTDC and the Hong Kong Research Institute of Textiles and Apparel, the session is part of a seminar series to be held at the 24th Hong Kong Fashion Week S/S, from July 10 to 13 at the Hong Kong Convention and Exhibition Centre.
Industry leaders will offer insights on upcoming trends in wearable technologies. Raymond Chu, Chairman of textile machinery agent Chemtax will speak on "Future Knitting with Wearable Technologies." Predictions of huge demand in the smart and wearable textile sector will lead to a 40 per cent annual growth, making it worth $2.5 billion by 2021. There will be bigger growth among sports fashion brands, says Chu
Going forward, sophisticated sensors, heating elements even battery chargers will be added to fabrics using high-tech knitting machines for sport, leisure, the military, hospitals and emergency services. Such devices will be able to measure a person's vital signs, such as heart rate, breathing, skin temperature - even perspiration levels, he added.
Stanley Kwok, Director of Senty, will discuss on the health concerns in wearable tech highlighting the importance of addressing concerns surrounding the use of wearable technologies.
Jason Ho, Vice-President of Intertek Testing Services Hong Kong, an assurance, testing, inspection and certification agency, will speak on "Total Quality Assured." The Fashion Week will feature some 1,100 international exhibitors from 19 countries, including newcomers from Canada, Nepal, Saudi Arabia and Vietnam. Nepal and Italy will stage group pavilions for the first time, joining India, Indonesia, Japan, South Korea, Macau and Thailand. Other highlights at Fashion Week will include a series of international fashion parades, such as one featuring designs from Saudi Arabia, which is among countries covered by China's Belt and Road Initiative.
