Smart Textiles Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Smart Textiles Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The smart textiles market size has grown exponentially in recent years. It will grow from $4.46 billion in 2023 to $5.81 billion in 2024 at a compound annual growth rate (CAGR) of 30.2%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased internet penetration, increasing millennial population, low interest rate environment and urbanization.

The smart textiles market size is expected to see exponential growth in the next few years. It will grow to $16.03 billion in 2028 at a compound annual growth rate (CAGR) of 28.9%. The growth in the forecast period can be attributed to increasing e-commerce, increasing demand for sportswear, increasing adoption of 5g networks, rising population and internet of things (iot) . Major trends in the forecast period include focus smart fabric technology, wearable tele-rehabilitation platform, technology development, digital testing, product launch and innovative smart garments.

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Key Market Players:

Major companies operating in the smart textiles market report are Koninklijke Ten Cate NV, Schoeller Textil AG, Eeonyx Corporation, Tex-Ray Industrial Co. Ltd, AiQ Smart Clothing Inc, Sensoria Inc, Noble Biomaterials, Interactive Wear AG, Mitsufuji Corporation, Xenoma Inc, Paradise Textiles, Textronics, Welspun India Ltd, Teijin Frontier Co. Ltd., E. Textint Corp, Smart Textile Co. Ltd., Asiatic Fibre Corporation, GPOWERTECH CO. LTD, Nextiles, Fibrofill inc., Adidas AG, Clothing+, Ohmatex A/S, Siren, Centre for Process Innovation Limited (CPI), Hi-Tec Sports, Incomparable Buttons, ACOTEX, Vaxess Technologies, FPC Industry, Nanowear, Express Embroidery, MOGU (Mycoplast), Stedfast Inc, Tricot Carol Inc, Lomar, Gulf Denim, Naseej Textile, Ultra Design Studios, Texel Inc., Smart textiles LLC, United Nigerian Textile Plc, Finetex Nigerian Ltd, Speco Mills Ltd, Korteks Textiles Africa

Market Drivers:

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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The smart textiles market covered in this report is segmented -

1) By Type: Passive, Active and Ultra-smart
2) By Function: Energy Harvesting, Sensing, Thermoelectricity, Luminescent and Other Functions
3) By End Users: Fashion and Entertainment, Sports and Fitness, Medical, Automotive, Protection and Military, Architecture and Other End Users

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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