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Smart Textiles Market 2024: Upcoming Trends, Size, Competitive Landscape Analysis To 2033
Smart Textiles Market Share
As per the report, 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 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%.
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Rising Demand For Smart Wearable Devices Fuels Smart Textiles Market Growth
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.
Tech Innovations Drive Evolution In Smart Textiles Market
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.
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
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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
Contents of the report:
1. Executive Summary
2. Smart Textiles Market Report Structure
3. Smart Textiles Market Trends And Strategies
4. Smart Textiles Market - Macro Economic Scenario
5. Smart Textiles Market Size And Growth
…..
27. Smart Textiles Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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