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Smart Textile Market Is Expected To Reach USD 8.85 Billion To Thrive At A CAGR Of 22% During 2022-2028 | Introspective Market Research
The Global Smart Textiles market was valued at USD 2.2 billion in 2021 and is expected to reach USD 8.85 billion by the year 2028, at a CAGR of 22%.
Smart textiles, also known as electronic textiles (e-textiles), are made up of electronic components and can perform certain functions. Smart fabrics are intelligent systems that can detect and process the wearer's state as well as observe or communicate ambient conditions. Electrical, thermal, mechanical, chemical, magnetic, and other inputs and outputs are utilized in smart textiles. Nanotechnology, materials science, garment design, electronics, and computer engineering are all integrated to create smart or intelligent textiles. Due to its numerous applications in various sectors, the market proportion of e-textiles consumption compared to traditional fabrics is increasing in developing regions.
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Market Dynamics:
Driver:
Performance-enhancing innovative fabrics provide a one-of-a-kind experience based on their intended application, with an emphasis on function over fashion. This includes regulating body temperature, lowering wind and water resistance, protecting against radiation, and monitoring bodily functions like heart rate and muscle exertion. Passive materials such as optical brighteners and UV absorbers are added to fibers to provide sun protection. When combined with other technological components, these materials have the potential to successfully prevent skin damage and other sun exposure-related problems. Nickel-titanium alloy is the shape memory alloy utilized in textiles, which is used in protective gear against fire and high temperatures and provides variable degrees of protection depending on temperature.
Opportunities:
An increase in the number of players entering the market is anticipated to create favorable opportunities for market development. Several companies are creating smart clothing and accessories that monitor and collect data based on athlete movements. ReTiSense, for instance, developed a smart insole for runners to wear in their shoes. The smart insole could help runners improve their form and avoid injuries. Furthermore, Google and Levi collaborated to develop a smart jacket. The jacket's capacitive touch grid, which serves as the user interface, is woven right into the fabric and can be used to answer calls, play music, take photos, and receive directions with a single motion.
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Segmentation Analysis of Smart Textiles Market:
Based on Type:
The active/ultra-smart textiles segment has the maximum market share over the forecast period. Active/ultra-smart textiles are implemented with electronic components such as sensors and actuators, which can sense and react to stimuli.
Based on Function:
The sensing segment is anticipated to hold maximum market share owing to smart textiles finding applications in the military, medical, sports, and aerospace sectors, where sensing and monitoring are already utilized and would only be made more efficient if integrated with textiles.
Based on Application:
The military and defense segments are anticipated to hold a significant market size of the smart textiles market over the forecast period. Smart textiles for military applications provide various features such as advanced insulation properties and ballistics protection, as well as are made from waterproof fabric, while some are capable of health monitoring and equipped with GPS, sensors, and motion trackers.
By Type:
• Passive
• Active/Ultra-smart
By Function:
• Sensing
• Energy Harvesting
• Thermoelectricity
• Luminescent
• Other
By Application:
• Military & Defense
• Healthcare
• Entertainment
• Automotive
• Sports & Fitness
• Other
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Regional Analysis of Smart Textiles Market:
The North American region is anticipated to dominate the smart textile market over the forecast period. The U.S. recorded for the leading share in the North American market. Key factors contributing to its growth include high expenditure and favorable healthcare reimbursement policies, high food utilization rates, and development in technology.
By Region:
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
Top Key Players Covered in Smart Textiles Market are:
• Adidas AG (Germany)
• DuPont de Nemours Inc.(US)
• Alphabet (US)
• International Fashion Machines Inc.(U.S.)
• Jabil (US)
• Texas Instruments Incorporated. (US)
• Sensoria Inc. (U.S.)
• Intelligent Clothing Ltd. (U.K.)
• Schoeller Textiles AG (Switzerland)
• Interactive Wear AG (Germany)
• Ohmatex A/S (Denmark)
• Textronics
• Design Systems (I) Pvt. Ltd. (U.S.)
• Google Inc. (U.S.)
• Vista Medical Ltd. (Canada)
• Gentherm Incorporated (U.S.)
• AIQ Smart Clothing (Taiwan)
• Outlast Technologies (US)
• Hexoskin (Canada) and other Major Players.
Key Industry Developments In Smart Textiles Market:
• In September 2021, Gentherm a global market leader and developer of innovative thermal management technologies declared that it has invested in Forciot, a Finnish-based technology designer of sensors for touch, motion, and force measurement. The technology being designed by Forciot has the potential to be united into vehicle interiors, incorporating into steering wheels for Hands-on Detection (HOD) functionality for Advanced Driver Assistance Systems (ADAS). Fortinet's innovative stretchable and printed sensors and advanced electronics are focused to support accurately measuring touch, motion, and force. Forciot's sensors may be utilized to sense an occupant's presence and potentially to replace buttons and other Human-Machine Interfaces (HMI) within vehicle interiors.
• In February 2021, DuPont has appropriated Tex Tech's Core Matrix Technology, a monolithic fabric structure that can significantly overcome backface trauma, while rising ballistic and fragmentation performance for military and law enforcement personnel. This accession will add to the company's already vigorous portfolio of life protection solutions, allowing the most flexible, lightweight ballistic solutions to accomplish new standards of the National Institute of Justice (NIJ) for improved durability. Additionally, improved protection, the latest technology also increases the comfort of wearing bullet-resistant body armor.
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The Analysis Objectives of the report:
• To identify the main subsegments of the Smart Textiles market to comprehend its structure.
• Identifies describes, and analyses the sales volume, value, market share, competitive market landscape, opportunities and threats, and strategic initiatives for the main worldwide Smart Textiles manufacturers for the next few years.
• To examine the Smart Textiles in terms of specific expected growth, career outlook, and market share contribution.
• Analyze commercial developments in the market, such as market expansions, partnerships, new product development, and mergers.
• To develop a strategic analysis of the main players and a thorough analysis of their strategic planning.
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Introspective Market Research (introspectivemarketresearch.com) is a visionary research consulting firm dedicated to assist our clients grow and have a successful impact on the market. Our team at IMR is ready to assist our clients flourish their business by offering strategies to gain success and monopoly in their respective fields. We are a global market research company, specialized in using big data and advanced analytics to show the bigger picture of the market trends. We help our clients to think differently and build better tomorrow for all of us. We are a technology-driven research company, we analyze extremely large sets of data to discover deeper insights and provide conclusive consulting. We not only provide intelligence solutions, but we help our clients in how they can achieve their goals.
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