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Rapid Growth Predicted in Smart Textiles Market Riding on $7.52 Billion Projection for 2025 and Key Market Trends
Smart Textiles Market Size
What is the projected market size of the Global Smart Textiles Market and its growth rate?
The smart textiles market is experiencing a significant boom and is projected to continue on this expansion trajectory due to several key factors:
- The market size is expected to grow from $5.78 billion in 2024 to $7.52 billion in 2025 at a compound annual growth rate (CAGR) of 30.2%.
- The growth in the historic period can be largely attributed to impressive economic growth in emerging markets, enhanced internet penetration, an increasing millennial population, low-interest rate environment, and rapid urbanization.
- The smart textiles market size is projected to hit $20.76 billion in 2029 at a compound annual growth rate (CAGR) of 28.9%. This significant growth in the forecast period will be driven by increasing e-commerce, the rising demand for sportswear, increasing uptake of 5G networks, escalating population, and the advancement of the internet of things (IoT).
What is driving the growth in the Smart Textiles Market?
The surging demand for smart wearable devices is a definitive growth lever for the smart textiles market. These electronic devices armed with microprocessors and integrated into clothing provide real-time information on user well-being and are expected to emerge as 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 touted to reach a massive 1105 million by 2022, up from 593 million in 2021.
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Who are the key players driving Smart Textiles Market growth?
Several key players contributing to the market growth include:
- 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
- Welspun India Ltd
What are the key trends in the Smart Textiles Market?
Emerging trends in the forecast period driving market growth include:
- Focus on smart fabric technology
- Wearable tele-rehabilitation platform
- Advances in technology
- Digital testing
- Product launches
- Innovative smart garments
What are the segments of the Global Smart Textiles Market?
The smart textiles market can be segmented as follows:
- By Type: Passive, Active and Ultra-smart
- By Function: Energy Harvesting, Sensing, Thermoelectricity, Luminescent and Other Functions
- By End Users: Fashion and Entertainment, Sports and Fitness, Medical, Automotive, Protection and Military, Architecture and Other End Users
Which region leads the Smart Textiles Market?
North America was the largest region in the smart textiles market in 2024. The regions covered in this report also include Asia-Pacific, Western Europe, Eastern Europe, Middle East, Africa, and South America.
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What is covered in the Smart Textiles Market Global Market Report?
- Market Size Analysis: Analyze the Smart Textiles Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Smart Textiles Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Smart Textiles Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Smart Textiles Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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