The Growing Demand For Smart Wearable Devices That Provide Real-Time Data Will Drive The Smart Textiles Market

The Business Research Company's Smart Textiles Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, February 3, 2023 /EINPresswire.com/ -- Applications across high-tech sportswear, health monitoring systems, workwear, and military camouflages will result in a growth in the demand for smart textiles over the forecast period

A textile is an object made by weaving threads or yarns into a fabric. Smart textiles, also known as electronic textiles, are textile materials and systems with a digital component integrated into them which allows them to interact with their surroundings. Smart textiles or fabrics are intelligent systems that can observe or communicate ambient circumstances, detect, and process the wearer’s state. The smart textiles market consists of sales of smart textile products by entities that can sense, detect, and respond to changes in environmental conditions and respond automatically to mechanical, chemical, magnetic, electrical, and thermal manipulations to protect the wearer from environmental risks.

Reference to the Global Market Model, will evidence the rise in demand with the Smart Textiles Global Market anticipated to grow from $2.5 billion in 2021 to $3.4 billion in 2022, at a compound annual growth rate (CAGR) of 36%. Escalating demand for smart wearable devices is expected to propel the growth of the smart textiles market going forward, as they provide real-time information on users’ well-being and are the future of portable energy systems, high-tech sportswear, health monitoring systems, workwear, and military camouflages. These are electronic devices powered by microprocessors that are integrated into clothing, worn as accessories, and implanted in the body to send and receive data via the internet. They include smart jackets, smart glasses, smart shirts, smart jewelry, and smart watches. The market size is projected to reach $9.7 billion in 2026, at a CAGR of just over 31%, continuing on an upward trajectory to $33.1 billion by 2031, but at a marginally reduced growth rate of around 28%.

North America was the largest region in the smart textiles market, accounting for around 36% of the global market in 2022, with Asia Pacific and Western Europe following behind with around 28% and 24% of the global market, respectively. However, the Asia-Pacific growth rate is expected to outpace that of North America both through 2026 and into 2031. Africa was the smallest region in the smart textiles market, a position that is not forecast to change. When analyzed by country, the USA had the largest share of the global market, accounting for around 29%, with China a distant second with an 11% share. However, China and India are forecast to show the most growth in the period 2021 – 2026 with CAGRs approaching 35%, with Japan and the USA following closely behind with anticipated CAGRs of around 33%.

The main types of products in smart textiles are passive textiles, which accounted for 53% of the market in 2022; active textiles accounting for 36%; and ultra-smart textiles, accounting for the balance of 11%. Passive smart textiles are first-generation electronics textiles materials or systems that contain sensors that can only sense stimuli and changes in environmental conditions, whereas active smart textiles adapt and change their functionality in response to changes in the external environment or in response to a user input, be it motion or weather. Ultra-smart textiles sense, react, monitor, and adapt themselves according to the stimuli or environmental conditions, such as thermal, mechanical, chemical, magnetic, or other sources. Active and ultra-smart materials are forecast to show the fastest growth rate to 2026, at just above 30%, maintaining a marginally lower growth rate through 2031.

Technological advancements are a key trend in the smart textiles market, with major companies operating in the sector focused on developing advanced technological solutions to strengthen their position in the market. For instance, in May 2021, Nextiles, Inc., a US-based technology company specializing in the development of smart technologies for human fabrics, launched a smart fabric based on smart thread technology that can capture real-time streaming of biometric and biomechanical data over Bluetooth to monitor force, bending, stretching, velocity, and pressure due to human activities.
Smart Textiles Global Market Report 2023 is one of a series of new reports from The Business Research Company that provides provides information on the smart textiles market size and growth rate, smart textiles market trends, drivers and restraints, smart textiles market competitors’, revenues and shares.

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