Global Smart Textile Market

Smart Textile Market Size, Share, Growth Analysis, By Type(Passive Smart Textile, and Active/Ultra-smart Textile), By Application,(Shape Memory Textiles, Color-changing Textiles, Phase-changing Textiles, and Wearable Smart Electronic Textiles), By End-User(Defense & Military, and Sports and Fitness), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20B2064 | Region: Global | Published Date: March, 2024
Pages: 179 | Tables: 89 | Figures: 71

Smart Textile Market Regional Insights

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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Smart Textile Market size was valued at USD 2.17 billion in 2022 and is poised to grow from USD 2.79 billion in 2023 to USD 20.61 billion by 2031, growing at a CAGR of 28.40% in the forecast period (2024-2031).

The competitive environment of the 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 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, presence, manufacturing regions and locations of production, manufacturing capacity, company strengths and weaknesses, product launches, product expansion and expansion, application authority. 'AIQ Smart Clothing Inc.', 'Celanese Corporation', 'Elitac Wearables', 'Embro GmbH', 'H.B. Fuller Company', 'HeiQ Materials AG', 'Interactive Wear AG', 'Jacquard by Google LLC', 'Nextiles, Inc.', 'Outlast Technologies GmbH', 'Schoeller Technologies AG', 'Sensoria Inc.', 'Softmatter', 'Textile ETP', 'Textronics Design System Pvt. Ltd.'

The advent of new technologies such as artificial intelligence (AI) and the Internet of Things (IoT) has transformed the textile industry. Integrated with AI, Bluetooth Low Energy (BLE), edge computing and cloud data, the new smart suit is designed to track and interact with the wearer’s data, including blood pressure, heart rate, sweat and temperature. Error detection, pattern recognition and color matching are some of the common applications of AI in textile manufacturing. The use of AI has enabled the creation of intelligent clothing that uses IoT and electronic sensors to create an optimal user experience. Integrating technology into clothing can create a comfortable and health-focused experience.

The growing demand for smart clothing in the celebrated electronics is driving the smart textile market. Also, smart clothing is very popular in the healthcare industry. Growing wearable and sophisticated electronic devices with highly advanced functionalities, increasing inexpensive smart sensor cables, increasing demand for sports and fitness are major drivers for the market.

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.

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Global Smart Textile Market

Report ID: SQMIG20B2064

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