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Smart Textiles Market Analysis, Trends, Growth, Research And Forecast 2032
Smart Textiles Market
The Business Research Company's Smart Textiles Global Market Report 2023 identifies 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.
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%.
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Major competitors in the smart textiles market are DuPont, AiQ Smart Clothing, Interactive Wear AG, SchoellerTextil AG, Sensoria Inc., Adidas AG, Outlast Technologies LLC, Ohmatex, Vista Medical Ltd.
A key trend in the smart textiles market includes technological advancement.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.
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The smart textiles market is segmented -
• By Type: Passive, Active, Ultra-Smart
• By Function: Energy Harvesting, Sensing, Thermoelectricity, Luminescent, Other Functions
• By End-User: Fashion And Entertainment, Sports And Fitness, Medical, Transportation, Protection And Military, Architecture, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the smart textiles market.
The Business Research Company's "Global Smart Textiles Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Smart Textiles Market Include:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
……
18. Competitive Landscape And Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. Smart Textiles Market, Conclusions And Recommendations
22. Appendix
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