Smart Fabrics Market - Detailed Analysis of Current Industry Figures with Forecasts Growth By 2028

Smart Fabrics Market is estimated to reach USD 16.80 billion by 2028

The global smart fabrics market is projected to reach USD 16.80 billion by 2028, growing at a CAGR of 43.2% during the forecast period.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Adidas AG
2. AiQ Smart Clothing Inc.
3. Clothing+ (Jabil Circuit Inc.)
4. EXO2
5. Gentherm Inc.
6. Mide Technology Corporation
7. Nike Inc.
8. OhmatexApS
9. Sensing Tex S.L.
10. Thermosoft International Corporation
11. Auxetix
12. Eleksen
13. Fibretronic Limited
14. Peratech Ltd.

What are Smart Fabrics and what are their applications and uses?

Smart textiles are fabrics developed and engineered to incorporate technology that provide enhanced flexibility for the consumer. These fabrics have various potential applications, such as the ability to interact with other devices, conduct energy, transform into other materials, and protect the wearer from environmental hazards. Operations in smart fabrics include personal health management through validation, integration, and use of smart clothing and other mobile networked devices.

The operations also include initiatives aimed at integrating sensors / actuators, energy sources, clothing processing and communication to enable personal applications such as security, safety, emergency, and health care. For example, Google's collaboration with jeans maker Levi Strauss & Co. for smart apparel fabrics witnessed Project Jacquard's launch to incorporate touch-sensitive yarns into clothing.

The high cost associated with the manufacture of smart fabric, which ultimately increases the cost of the end-user product, is one of the major factors anticipated to limit the growth of the demand for smart fabrics over the projected period. Nevertheless, the trend of using miniaturized electronics in fabrics and the growing demand for smart wearable and the the proliferation of these smart wearable devices across different end-user industries is the major factor driving smart fabric market growth.

Segmentation of Smart Fabrics Market for better understanding of this market and its growth prospects

The smart fabrics market was segmented by versatility into sensing, energy harvesting, luminescence & aesthetics, thermoelectricity, and others. The category of sensing technology is projected to account for a significant share of the global smart fabric market. This is primarily attributed to sensing ability, which is the most essential attribute of any intelligent garment. In fact, sensing and tracking has been in use for a long time in various fields including medicine, sports & exercise, and military & defence.

Investments by big international companies to gain popularity for smart fabrics

The Sports & Fitness segment is expected to grow at the highest rate over the forecast period, based on the application. The application of smart fabrics in the sports and fitness industry overlaps with the healthcare industry, as both industries measure similar characteristics, although there is no need for the sports and fitness industry to go through regulatory issues as the products is not classified as medical. Computer academy and industry have always been concerned with Wearable technology.

This leads to their rapid development and higher adoption on the smart fabrics market, through smart fabric applications in t-shirts, clothing, socks, skirts, sports bras, and other sportswear. For example, Nike and Google have launched a new gym shoe together that can track a user's real-time footage from Google Earth. Wearing this pair of shoes can check movement routes at any time, and gather massive motion data which can be used for analysis.

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North America to dominate the market during the forecast period

North America is expected to hold a dominant position in the smart fabrics industry, with the US accounting for the region's biggest share. In 2018, about 46.1 million wearable devices were expected to be delivered in the United States according to the Consumer Technology Association. Increasing the prevalence of wearable electronics products is therefore expected to open up new avenues for the region's smart fabrics industry, as they offer significant enhancements to human comfort, fitness, and wellness.

International technology giants, like Google and Microsoft, have increased their investments in wearable technology, extending into the field of fashion design. For example, Microsoft has worked on a smart scarf that will notify users of different things by vibrating and heating them up. Ideally, the scarf can be used to soothe those with disabilities, such as autism, which has trouble keeping track of their emotions.

Important Factors Impacting the Growth of Smart Fabrics Market:
o Move towards the use of miniaturized electronics in textiles.
o The quality of the final end-user commodity rose.
o Growing demand for wearable intelligentsia.
o Ongoing R&D and technical advances in the smart textiles industry.

Significant Developments in the Smart Fabrics Market:

o In June 2018, Schoeller Textiles AG (Switzerland) launched new products in the SCOTT RC footwear collection to mark a significant innovation in the market. For the first time, the Schoeller dynamic fabric is used in a shoe which offers a unique combination of comfort and durability-two indispensable elements in ultra-racing.
o In July 2018, OTEX Specialty Narrow Fabrics (US) extended its range of narrow-woven, high-performance textiles certified by the National Fire Protection Association (NFPA) quality standards Underwriters Laboratories (UL).

What Does This Report Provide?

This study offers a thorough view of the smart fabrics market over the forecast period, from both qualitative and quantitative perspectives. The study also includes competitive metrics of potential market effects during the forecast period, and an in-depth overview of the market's leading companies.

Market Segmentation:

By Type:
o Active
o Passive
o Ultra Smart

By Functionality:
o Sensing
o Energy Harvesting
o Luminescence & Aesthetics
o Thermoelectricity
o Others

By Application:
o Fashion & Entertainment
o Sports & Fitness
o Medical
o Transportation
o Protection & Military
o Architecture

By Region:

o North America
o By Country (US, Canada, Mexico)
o By Type
o By Functionality
o By Application

o Western Europe:
o By Country (Germany, UK, France, Spain, Rest of Western Europe)
o By Type
o By Functionality
o By Application

o Eastern Europe:
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Functionality
o By Application

o Asia Pacific
o By Country (China, Japan, India, Rest of Asia Pacific)
o By Type
o By Functionality
o By Application

o Middle East:
o By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
o By Type
o By Functionality
o By Application

o Rest of the World
o By Region (South America, Africa)
o By Type
o By Functionality
o By Application

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This release was published on openPR.