Smart Textiles Market Outlook 2031
The global smart textiles market size was USD 2.83 Billion in 2022 and is expected to reach USD 18.50 Billion by 2031, expanding at a CAGR of 23.2% during the forecast period, 2023-2031. The growth of the market is attributed to the growing need fast and reliable smart wearable solutions.
Smart textiles, additionally referred to as electronic textiles, include a range of product categories such as e-textiles, smart clothes, and fabrics that have digital part embedded in them. These digital units can be a battery, a led, an electronic chip, or a sensing device. The aim of smart fabrics is to supply supplemental worth of the clothes to the users, be it for pleasure, performance, or safety.
Smart Textiles Market Drivers, Restraints and Opportunities
- Cost-effectiveness of smart textile and its major key benefits of the sports segment is a major driving factor of the market.
- Increasing efficiency of Internet of Things (IoT) and related technologies is another factor that drives the market growth during the forecasted timeline.
- Inaccuracy of predicting software is expected to act as a major restraint factor that can hamper the market growth.
- Threat of cyber-attacks because of such increased data manipulations and huge datasets is a key challenge. This is projected to hinder the market expansion.
- Increasing demand for fast, and efficient smart wearable solutions making services is expected to create lucrative opportunities during the forecast period.
Scope of Smart Textiles Market Report
The report on the global smart textiles market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Smart Textiles Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Functionalities (Thermoelectricity, Energy Harvesting, Luminescence & Aesthetics, Sensing, and Others), Products (Active, Passive, and Very Smart), and End-users (Protection & Military, Fashion & Entertainment, Medical, Sports & Fitness, Architecture, and Transportation)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Adidas; Auxetic Performance Ltd; Nike, Inc.; Eleksen; Fibretronic limited; Thermosoft International Corporation; Gentherm Inc.; Clothing+; and Peratech Holdco Limited
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Smart Textiles Market Segment Insights
Functionalities Segment Analysis
Based on functionalities, the global smart textiles market is segmented into thermoelectricity, energy harvesting, luminescence & aesthetics, sensing, and others. The sensing segment accounted for a major share of the market in 2020 and is expected to grow significantly during the forecast period owing to the flexibility of sensing and wide adoption for any good garment.
Products Segment Analysis
On the basis of products, the market is divided into active, passive, and very smart. The passive segment is expected to hold major market share during the targeted period owing to rising demand for wearable clothing, which provides sense for the user movement and also the encompassing environment.
Moreover, certain advantages such as low product costs and fewer advanced functionalities than different variants present key drivers of the segment expansion.
End-users Segment Analysis
Based on end-users, the global smart textiles market is fragmented into protection & military, fashion & entertainment, medical, sports & fitness, architecture, and transportation.
The sports & fitness segment is anticipated to witness substantial growth in the coming years owing to wide employment of the products in refined electronics devices together with fitness watches and belts for observation health and body vitals in real-time.
The defence & military segment, however, accounted for market share of more than 23.87% in 2020. The combination of those products with electronic devices offer a light-weight possibility against heavy batteries, which are integrated with clothes employed in defence & military.
Regional Outlook
In terms of regions, the global smart textiles market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
North America is projected to constitute a major share of the worldwide market during the forecast period due to the increasing products demand within the transportation and healthcare industries in the region.
The Asia Pacific market, however, is anticipated to witness steady growth during the forecast period owing to the availability of cheap raw materials and labor of textile products in the region especially in major economies such as China, Japan, and India. These factors have help in remodelling the region into a producing hub for such technology.
Segments
The global smart textiles market has been segmented on the basis of
Functionalities
- Thermoelectricity
- Energy Harvesting
- Luminescence & Aesthetics
- Sensing
- Others
Products
- Active
- Passive
- Very Smart
End-users
- Protection & Military
- Fashion & Entertainment
- Medical
- Sports & Fitness
- Architecture
- Transportation
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Adidas
- Auxetic Performance Ltd
- Nike, Inc.
- Eleksen
- Fibretronic limited
- Thermosoft International Corporation
- Gentherm Inc.
- Clothing+
- Peratech Holdco Limited
Competitive Landscape
Key players competing in the global smart textiles market are Adidas; Auxetic Performance Ltd; Nike, Inc.; Eleksen; Fibretronic limited; Thermosoft International Corporation; Gentherm Inc.; Clothing+; and Peratech Holdco Limited. Key players such as Fibretronix are likely to be the leading integrators, which have widely engaged in the encapsulation of electronic products.
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