Smart Textile Market Forecasts to 2030 – Global Analysis By Type (Active, Passive and Ultra Smart), Function (Sensing, Energy Harvest, Medical, Thermo Electricity, Luminescence & Aesthetics and Other Functions), End User and By Geography

Smart Textile Market Forecasts to 2030 – Global Analysis By Type (Active, Passive and Ultra Smart), Function (Sensing, Energy Harvest, Medical, Thermo Electricity, Luminescence & Aesthetics and Other Functions), End User and By Geography

According to Stratistics MRC, the Global Smart Textile Market is accounted for $3.63 billion in 2023 and is expected to reach $17.53 billion by 2030 growing at a CAGR of 25.2% during the forecast period. Smart textiles are materials with built-in digital capabilities that offer extra capabilities like monitoring, communication, and stimulation. Smart textiles have an incorporated digital element. Smart textiles are made to improve the user's experience in some way, whether it is for safety, performance, or enjoyment. Monitoring tools for safety, security, and way of life are among them. Because they cover such a large portion of the body, smart textiles may offer a variety of physiological data. They heavily rely on Internet of Things (IoT) and Bluetooth Low Energy (BLE) technologies as a source of continuous power from their internal battery.

According to a survey conducted by the Journal of Internet Medical Research, 30% of Americans use smart textiles, and at least seven in 10 believe this technology has improved their fitness and health.

Market Dynamics

Driver

Rising advanced technologies

The textile business has changed as a result of the development of new technologies like artificial intelligence (AI) and the Internet of Things (IoT). Incorporating AI, Bluetooth Low Energy (BLE), edge computing, and cloud data, new smart clothing is being produced that can track and transmit the wearer's information, including blood pressure, heart rate, sweat, and temperature. The incorporation of technologies can lead to a more cosy and health-conscious experience. Given that clothing covers a large section of the body, smart textiles may be able to offer several forms of physiological data. These technologies produce an exceptional user experience, which has prompted market demand.

Restraint

No universal code of ethics

The bulk of big data companies employ patented data formats. Sending data sets is more challenging due to the absence of standards. The current objective is to select a single open format for data receipt and primary analysis. Additionally, the absence of uniform laws is producing an abundance of information, making data analysis particularly challenging. As a result, the produced data might not be trustworthy. Data protection is very difficult to manage. Unfortunately, this leads to the loss of certain data, which impedes the market's ability to flourish.

Opportunity

Growing popularity for multi-function smart textiles

People frequently own a variety of mobile devices, including tablets and smart phones, and they want tiny gadgets that can do all computing and monitoring tasks in a single unit. This opens the door for the creation of hybrid and multi-functional smart textiles that not only simplify the lives of customers but also integrate various wearable gadgets. Additionally, scientists are developing conductive materials that may instantly link many wearable gadgets together. The expansion of the market is being driven by the development of smart textiles for application in human-machine interfaces, health monitoring, and therapeutic treatments.

Threat

High cost of production

The very sophisticated nature of smart fabrics and the need for premium materials prevent producers from striking the ideal cost-price balance. Electronic, optoelectronic, sensor, and energy fibre components are integrated to create smart textiles. They are produced using cutting-edge technology to offer all the required characteristics. The producers of smart textiles need to make large expenditures in order to deliver precise functionality, dimensions, and forms. Together, these factors prevent the market from escalating.

Covid-19 Impact

The textile and garment industries have been severely impacted by the COVID-19 outbreak. This pandemic was considered to be a window of opportunity since it expedited the continuing digitization trends and the usage of functional materials in the textile sector, in addition to the negative effects due to supply chain interruptions, a decline in demand, liquidity issues, and overstocking. Through electrospun nanofibers and nanogenerators, the smart textiles made monitoring and sensing possible. They improved antiviral capabilities, which are essential for preventing, defending against, and controlling pandemics. With regard to the prevention of the corona virus's spread and control, smart textiles were of the utmost significance.

The active segment is expected to be the largest during the forecast period

The active segment is estimated to have a lucrative growth. Active smart textiles are those whose functionality adapts and changes as a result of changes in the external environment or a human input. These materials may be used in a variety of flexible applications, can store and control heat, and can alter form. They feature an actuator function in addition to the sensor function. Active textiles are those materials used in clothing that care for, hydrate, comfort, and safeguard the user's skin. The segment's growth is being sped up by factors including comfort, toughness, and resistance.

The medical segment is expected to have the highest CAGR during the forecast period

The medical segment is anticipated to witness the fastest CAGR growth during the forecast period. Medical smart textiles are fiber-based items and structures that are utilized in a medical setting to repair wounds, provide for proper conditions for the clinical treatment of illnesses, or otherwise treat injuries. Since they recognize, collect, and send physiological information, the smart sensor system aids in the monitoring and communication of a patient's status. These intelligent textiles have a wide range of uses, such as bandaging, illness management, preventative clothing, cleanliness (hospital linen), etc.

Region with largest share

Asia Pacific is projected to hold the largest market share during the forecast period owing to its growing population. The smart textile market is most prevalent in Asia Pacific. India, South Korea, China, and Japan in particular are important countries in this regional industry. The growing public interest in maritime and environmental conservation, together with aviation trade, is credited with the market growth in this field. The factors driving the market development in this area furthermore include increased consumer spending power, fast industrialization and urbanization, increasing expenditures in ICT, quickly rising population, and growing awareness about health and fitness.

Region with highest CAGR

South America is projected to have the highest CAGR over the forecast period. Brazil is the only nation in South America to play a significant role in the world's textile industry. The Institute of Studies and Industrial Marketing of Brazil claims that the nation is one of the biggest manufacturers of clothing. Brazil has the ninth-largest GDP in the world and the fifth-largest economy in terms of purchasing power parity. Customers in this area are gravitating towards a healthy lifestyle and purchasing goods that will keep them active and fit.

Key players in the market

Some of the key players profiled in the Smart Textile Market include Texas Instruments Incorporated, Google Inc, Koninklijke Ten Cate BV, Interactive Wear AG, SchoellerTextil AG, ThermoSoft International Corporation, DuPont De Nemours, Inc, Gentherm Incorporated, Wearable Technologies Ltd, Textronics Design System Pvt.ltd, Clothing Plus Ltd, Outlast Technologies LLC, Sensoria, Inc, Peratech Holdco Limited, Nike, Inc, AiQ Smart Clothing Inc Eeonyx Corporation, Vista Medical Limited and Hexoskin.

Key Developments

In August 2020, Gentherm Incorporation partnered with Lear Corporation, a global automotive technology company in Seating and E-Systems to launch its newest solution in intelligent seating — INTU™ Thermal Comfort with ClimateSense™ technology. The system aims to create an ideal personal climate smart textile through its intelligent software, using ambient cabin conditions to provide optimized comfort.

In May 2019, DuPont launched the new “Intexar™” stretchable circuitry smart textile. Intexar™, a groundbreaking version of DuPont incorporate circuits into fabric that can fold, fit and stretch — and even go through the laundry unscathed.

Types Covered
• Active
• Passive
• Ultra Smart

Functions Covered
• Sensing
• Energy Harvest
• Medical
• Thermo Electricity
• Luminescence & Aesthetics
• Other Functions

End Users Covered
• Automotive
• Textile
• Medical
• Building & Construction
• Military & Defense
• Sports & Fitness
• Fashion & Entertainment
• Architecture
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements