USD 2.17 billion
Report ID:
SQMIG20B2064 |
Region:
Global |
Published Date: March, 2024
Pages:
179
|Tables:
89
|Figures:
71
Smart Textile Market size was valued at USD 2.79 Billion in 2023 and is poised to grow from USD 3.58 Billion in 2024 to USD 26.46 Billion by 2032, growing at a CAGR of 28.40% during the forecast period (2025-2032).
The proliferation of smart clothing is directly linked to advances in material science. Researchers and scientists continue to push the limits of what textiles can do by adding nanomaterials, conductive polymers, and other advanced materials to traditional textiles These new materials offer unprecedented properties such as electrical conductivity permeability, durability and ability to interact with the environment Comfort and functionality are achieved.
These advances in materials science enable the development of highly specialized fabrics that can be adapted to specific applications from military to consumer electronics as research continues and new products are developed, the versatility and application of smart clothing expands, and is interesting in their wide range of applications. Technological advances for materials demand, which in turn fuels research and development.
Global Market Size
USD 2.17 billion
Largest Segment
Passive
Fastest Growth
Growth Rate
28.40% CAGR
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Based on Type, the smart textile market is segmented as passive smart textile, active/ultra-smart textile. Based on Application, the smart textile market is segmented as follows, shape memory textiles, color-changing textiles, phase-changing textiles, and wearable smart electronic textiles. Based on End-User, the smart textile market is segmented into Defense & military and Sports and fitness. Based on region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Analysis by Product
The active segment accounted for the dominating market share at 42.8% by 2022. The active segment includes sports and fitness and activity wear, such as workout clothes, sports bras, gym lines and running shoes smart clothing in this segment this category offers many benefits, such as increased Performance, comfort, and monitoring capabilities. On-site, smart clothing often incorporates technologies such as water filtration, heat management and compression. These features help improve athletic performance by keeping the wearer cool, cool and comfortable during exercise. Smart clothing can provide greater flexibility and movement, allowing for better mobility.
Passive smart clothing is the fastest growing segment that can sense the user’s movements and surroundings. The segment is expected to expand significantly during the forecast period due to lower prices and less complex operations than other methods. Highly intelligent clothing can recognize, react and adapt its behavior in a situation and follow principles namely after artificial intelligence (AI). Additionally, the ability to effectively handle life-threatening situations such as accidents or remain highly comfortable even in the face of large environmental changes is expected to enhance its development.
Analysis by End-Use
Defense & military segment accounted for the largest revenue share of 28.2% by 2022. The defense & military sectors are exploring smart clothing applications for applications such as military protection systems, body tracking, and communications. The lightweight and flexible nature of smart clothing makes them ideal for these industries, where mobility and comfort are important. When combined with electronics, these features provide a lightweight alternative to the heavy battery packs used in combat and military uniforms. Weapon systems are expected to be equipped with wireless weapons, chemical and biological threat detection systems, head-mounted displays, global positioning systems (GPS), and battery power to make them safe.
The sports and fitness segment are expected to expand significantly over the forecast period. Smart clothing can respond to mechanical, thermal, magnetic, chemical or electrical stimuli. These capabilities allow them to be used in fitness watches, wristbands and sophisticated electronic devices for real-time health and physiological monitoring. Smart clothing can also be used in medical applications to reduce processing time. Growing global population led to the demand for advanced healthcare facilities and medical facilities, which fueled the growth of the market.
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North America dominated the market, holding the largest share of 48.4% by 2022 and is also expected to be the fastest growing regional market. Several leading companies operating in the smart clothing industry in the United States. These companies develop, manufacture and sell smart textile products, contributing to the growth of the market. The presence of prominent players contributes to innovation and market competitiveness. The segment has a strong technical infrastructure and know-how, which facilitates the development of smart textiles technology.
Asia-Pacific is also expected to witness steady growth during the forecast period. Asian countries such as China, Japan and India have turned into hubs for such technologies due to the availability of cheap raw materials and labor This has led to a decline in the overall production of smart textiles in the European region. However, increasing R&D activities in such smart textiles supported in EU FP6 and FP7 programs are revitalizing the industry in European countries.
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Drivers
Application of Advanced Technology in Smart Textiles
New Technological Advancements
Restraints
Lack of Standards and Policies
Lower Level of Awareness in Smart Clothing
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The competitive environment of the Global Smart Textile Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. The global market competitive landscape provides detailed information from competitors. Detailed information includes company overview, company financials, earnings, market potential, investment in research and development, new market strategy, global presence, manufacturing regions and locations of production, manufacturing capacity, company strengths and weaknesses, product launches, product expansion and expansion, application authority.
Top Player’s Company Profiles
Recent Developments
Rising Demand for Smart Clothing
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Many manufacturers want to increase production to meet the growing demand from various industries however, the global smart textile market is hampered due to rising cost of materials, due to stringent regulations for the integration of electronic components in clothing, and issues related to material safety & thermal considerations.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 2.17 billion |
Market size value in 2031 | USD 20.61 billion |
Growth Rate | 28.40% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Smart Textile Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Smart Textile Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Smart Textile Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Smart Textile Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG20B2064
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