With a projected CAGR of 23.2% during the forecast period, the global Smart Textiles Market is expected to increase from USD 2.3 billion in 2021 to USD 6.6 billion by 2026. The market's expansion is attributable to the developing wearable industry, downsizing of electronic components, and the rising acceptance of cutting-edge technologies in smart textiles. Market segments include kind, function, vertical, and geographic divisions. Healthcare, military and defence, fashion and entertainment, and sports and fitness are some of the key verticals predicted to propel market expansion. Also, during the projected period, there should be abundant chances for market expansion due to the growing adoption of smart textiles in the automotive industry for interior design and safety features.
The report profiles key players in the smart textiles market and analyzes their market shares. Players profiled in this report are DuPont (US), Alphabet (US), Jabil (US), AIQ Smart Clothing (Taiwan), Sensoria (US), Gentherm (US), Interactive Wear (Germany), Outlast Technologies (US), Adidas (Germany), Hexoskin (Canada), TenCate (Netherlands), Clim8 (France), Nike (US), Sensing Tex (Spain), Thermosoft International (US), Milliken & Company (US), Applycon (US), Peratech (UK), CHARNAUD (South Africa), Footfalls & Heartbeats (UK), Volt Smart Yarns (US), Samsung(South Korea), Ambiotex (Germany), Microsoft (US) and LifeSense Group (Netherlands).
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Driver: Implementation of advance technologies in smart textiles
The adoption of cutting-edge technology in smart textiles is a key factor in the market's expansion. The textile business has changed as a result of the adoption of new technologies like artificial intelligence (AI) and the Internet of Things (IoT). In order to monitor and transmit the wearer's information, including blood pressure, heart rate, perspiration, and temperature, smart clothing is being made with the integration of AI, Bluetooth Low Energy (BLE), edge computing, and cloud data. AI can access and gather operational data in real-time and the past and deliver insights that can increase the wearer's productivity. Some of the frequently used AI applications in the textile industry include defect detection, pattern inspection, and colour matching. The market for smart textiles is rising due to the downsizing of electrical components as well as the expanding wearables sector.
Passive smart textile to have a significant market in military and protection vertical during the forecast period
The initial generation of smart textiles are passive textiles, which can sense stimuli or environmental conditions but cannot alter in response to changes outside of themselves. In the military and protection vertical, the passive smart textile market is anticipated to hold a sizable market share throughout the forecast period, according to a MarketsandMarkets analysis. Because to their toughness, passive smart textiles, like conductive fabrics and fabrics with optical fibre incorporated in them, are frequently employed in the military and protective business. UV-protective clothing, antimicrobial fabric textiles, and multilayer composite fibres and textiles are a few examples of passive smart textiles. Passive smart textiles are provided for many applications in the medical, military, aerospace, bedding, garment, and footwear industries by large corporations like DuPont and Outlast Technologies.
Sensing function accounts for largest market share for smart textiles market during the forecast period
Over the time of forecasting, the sensing function is anticipated to hold the biggest market share in the market for smart textiles. Smart fabrics have the ability to detect and react to a wide range of environmental factors and stimuli produced by mechanical, thermal, chemical, electrical, magnetic, or any other sources. With a variety of sensors, clothing designed with smart textiles is able to detect a wearer's body heat, heart rate, breathing rate, motion, and speed. Modern smart fabric sensors can monitor bending, position, movement, and pressure in addition to other psychological factors. Sensing is therefore one of the important purposes for which smart textiles are being employed.
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Sports and fitness vertical to have highest CAGR during the forecast period.
The smart textiles market is expected to expand at the highest compound annual growth rate (CAGR) in the sports and fitness sector over the projected period. This can be ascribed to the public's growing knowledge of fitness and health. Also, the rising prevalence of diabetes and heart-related illnesses would probably increase demand for smart fabrics in the sports and fitness sector. Smart textiles have the ability to track body temperature, heart rate, and physical activity, which can assist people keep tabs on their fitness and health. The sports and fitness sector is anticipated to rise as a result of developments in the production of smart fabrics and the development of wearable technology.
North America accounts for the largest share of the smart textiles market during the forecast period
Over the forecast period, North America is anticipated to dominate the global market for smart textiles, primarily as a result of technical developments and the introduction of new products in the area. The market in North America has expanded as a result of the rising demand for smart textiles from the consumer electronics and medical industries. The area has a strong healthcare infrastructure, which incorporates smart textiles into wearables and medical equipment. Furthermore, the market in the region is anticipated to be further boosted by the high disposable income and rising consumer awareness of health and fitness. These factors are supporting the expansion of the sports and fitness category. The market in North America is expanding in part due to the existence of significant smart textile producers in the area, including DuPont and Intelligent Clothing.
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