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Smart Textiles Market is expected to grow at a CAGR of 23.2% by 2026 - Exclusive Report by ReportsnReports
Smart Textiles Market with COVID-19 impact analysis by Type (Passive, Active/Ultra-smart), Function (Sensing, Energy Harvesting & Thermo-electricity, Luminescence & Aesthetics), Vertical, & Geography - Global Forecast to 2026Download FREE Sample Report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=4940252
The report profiles key players in the smart textiles market and analyzes their market shares. Players profiled in this report are DuPont (US), Alphabet (US), Jabil (US), AIQ Smart Clothing (Taiwan), Sensoria (US), Gentherm (US), Interactive Wear (Germany), Outlast Technologies (US), Adidas (Germany), Hexoskin (Canada), TenCate (Netherlands), Clim8 (France), Nike (US), Sensing Tex (Spain), Thermosoft International (US), Milliken & Company (US), Applycon (US), Peratech (UK), CHARNAUD (South Africa), Footfalls & Heartbeats (UK), Volt Smart Yarns (US), Samsung(South Korea), Ambiotex (Germany), Microsoft (US) and LifeSense Group (Netherlands).
The smart textiles market is expected to grow from USD 2.3 billion in 2021 to USD 6.6 billion by 2026; it is expected to grow at a CAGR of 23.2% during the forecast period. The major driving factors for the growth of the smart textiles market include implementation of advanced technologies in smart textiles, miniaturization of electronic components and expanding wearable industry among others.
Energy harvesting and thermoelectricity function to have the highest CAGR during the forecast period
The science of energy harvesting materials has witnessed phenomenal progress in recent years. Technological advancements have enabled the development of new and distinctive molecular materials and devise artificial photosystems, and their applications are far more remote than the conventional solar cell technology. The basic principle of wearable devices and their way of hybridizing with PV cells includes the mechanism of thermoregulation in humans. The growth in the use of wearable, mobile, and electronic textile-sensing devices has increased the need for keeping these devices powered continuously. Many smart clothing providers have proposed the integration of energy harvesting capabilities into clothing, e.g., solar energy harvesting, which is one of the most investigated avenues due to the abundance of solar energy. Many start-ups and research institutions are actively involved in developing this technology.
Military and protection vertical to dominate the smart textile market during the forecast period.
In 2020, the military and protection segment accounted for the largest size of the smart textiles market and is also expected to hold its dominant position throughout the forecast period. Smart textiles for military application offer various features such as advanced insulation properties and ballistics protection, as well as are made from waterproof fabric, while some are capable of health monitoring and equipped with GPS systems, sensors, and motion trackers.
APAC to grow at highest CAGR during the forecast period
The market in APAC is expected to grow during the forecast period. APAC region is witnessing increased demand for smart textiles attributed to the rapidly expanding healthcare industry. Smart textiles are used for continuously monitoring the patient’s condition and receiving communication and positioning. Development of manufacturing hubs in countries like China and India will drive the demand in APAC region.
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