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Global Smart Textiles Market to Reach US$ 13.6 Billion by 2027, Bolstered by Development of Innovative Product Variants

Published on May 11, 2020

The latest report by IMARC Group, titled “Smart Textiles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global smart textiles market size reached a value of US$ 3.0 Billion in 2021. Smart textiles refer to materials that are integrated with technologies to provide the wearer with increased functionality. The fabrics are embedded with conductive threads, electronic components, and advanced technologies. They make use of components such as lights, batteries, sensors, light-emitting diodes (LEDs), and hands-free computing devices. Smart textiles sense and react to environmental conditions and stimuli from thermal, mechanical, chemical, and magnetic sources. They are increasingly gaining popularity due to their ability to reduce wind resistance, regulate body temperature, adjust the breathability of the fabric, and control muscle vibration according to environmental changes. As a result, smart textiles find applications across the military and defense, healthcare, transportation, entertainment, sports and fitness, and automotive sectors.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. 

Global Smart Textiles Market Trends: 

The market is primarily driven by the rising miniaturization of electronics as smart textiles offer enhanced comfort to users. They are also used to communicate the information of the wearer, including physiological parameters like location, heart rate, perspiration, blood pressure, and temperature. In addition to this, the integration of artificial intelligence (AI) and the Internet of Things (IoT) with textiles has enabled defect detection, pattern inspection, and color matching, which is fueling the market growth. Furthermore, increasing research and development (R&D) activities and the launch of innovative product variants are also creating a positive market outlook. Looking forward, the market is expected to reach a value of US$ 13.6 Billion by 2027, exhibiting a CAGR of 29.10% during the forecast period (2022-2027).

Market Summary: 

  • Based on the type, the market has been segmented into passive and active smart textiles.
  • On the basis of the functionality, the market has been classified into sensing, energy harvesting, luminescence and aesthetics, thermoelectricity, and others.
  • The market has been categorized based on the end-use sector into military and protection, healthcare, sports and fitness, fashion and entertainment, transportation, architecture, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has been examined, with some of the key players being Adidas AG, AiQ Smart Clothing Inc., Clothing+, Dupont De Nemours Inc., Gentherm Incorporated, Google LLC, Interactive Wear AG, Ohmatex A/S, Schoeller Textil AG, Sensoria Inc., Texas Instruments Incorporated, Textronics Design System Private Limited, Vista Medical Limited.
     

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