Smart Textiles Market Size, Share Analytics, Growth, Trends And Industry Forecast 2023-2032 | DuPont, AiQ Smart Clothing, Interactive Wear AG, SchoellerTextil AG, Sensoria Inc.

As per The Business Research Company's Smart Textiles Opportunities And Strategies Market Report 2023, the global smart textiles market size grew from $3.41 billion in 2022 to $4.53 billion in 2023 at a compound annual growth rate (CAGR) of 32.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of smart textiles is expected to grow to $12.01 billion in 2027 at a CAGR of 27.6%.

Surging demand for smart wearable devices is expected to propel the growth of the smart textiles market going forward. Smart wearable devices 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. Smart wearable devices include smart jackets, smart glasses, smart shirts, smart jewelry, smart watches, and others. There is a surge in demand for smart wearable devices 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. For instance, according to Cisco Systems, a US-based networking hardware company, the number of connected wearable devices is expected to reach 1,105 million by 2022, up from 593 million in 2021. Therefore, the surging demand for smart wearable devices is promoting the growth of the smart textiles market.

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Technological advancements are shaping the smart textiles market. Major companies operating in the smart textiles sector are focused on developing advanced technological solutions for smart textiles 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 smart fabric based on smart thread technology. This technology is a low-power wireless radio protocol for the smart home that enables direct communication between devices. These smart fabrics 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 Market Segmentation:
The smart textiles market is segmented by type, by function and by type of end-user.
By Type -
a) Passive
b) Active
c) Ultra-Smart

By Function -
a) Energy Harvesting
b) Sensing
c) Thermoelectricity
d) Luminescent

By End-User -
a) Fashion And Entertainment
b) Sports And Fitness
c) Medical
d) Transportation
e) Protection And Military
f) Architecture

Major players in the smart textiles market include DuPont, AiQ Smart Clothing, Interactive Wear AG, SchoellerTextil AG, Sensoria Inc.

The regions covered in the global smart textiles market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Smart Textiles Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Smart Textiles Market Report Table Of Content
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
……
25. Key Mergers And Acquisitions In The Smart Textiles Market
26. Market Background: Nursing Care
27. Smart Textiles Market Opportunities And Strategies
28. Smart Textiles Market, Conclusions And Recommendations
29. Appendix

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