Global Smart Textile Market Overview
The key driver impacting the smart textile market is the rising consumption of smart textiles for various applications such as fashion & entertainment, medical, military, sports & fitness, and transportation. For instance, the fashion and entertainment industry makes use of smart fabrics to incorporate unique aesthetics into their design. Smart fabrics can customize appearance characteristics such as the size, color, or shape of the garments. One such example is CuteCircuit which utilizes smart fabrics for its special projects and haute couture collections. CuteCircuit's ‘Sound Shirt' allows deaf people to experience music through their bodies via smart clothing. Moreover, the increasing penetration of smartphones and other high-tech or smart devices, such as iPods with advanced technology, contributes to smart textile market growth in the coming years.
According to Value Market Research, the global Smart Textile market size was valued at around USD 956.1979 million in 2020 and is estimated to grow at a CAGR of about 30% during the forecast period 2021 to 2027.
The increasing popularity of sophisticated gadgets with advanced functions is likely to augment the demand in the forecast period. This leads to growing efforts by the key players in developing highly advanced smart textiles products for the consumers. For instance, Google worked with Levi Strauss to create a smart denim jacket that uses Google's Project Jacquard smart technology. In November 2019, they commercialized the new Levi's jackets. The jacket utilized Bluetooth and conductive wire to communicate with an associate smartphone app. Users can execute other commands with programmable touches of the web and change their music selections. Also, in November 2019, Microsoft filed a patent for smart knitting technology termed as Electronically Functional Yarn entrenched in yarns for electrical functionality. However, high costs may hamper the market in the long run. Also, the lack of exhaustive standards and regulations negatively impacts the market. The current industry trends, such as the growing trend of growing applications of smart textiles in wearables, and the rising development of key enabling technologies, are expected to offer several beneficial market opportunities for the key players.
The Smart textile market is vast, with many local and global players. The Smart textile market is extensive, with many regional and international players. The important market leaders follow several strategies to raise their market status, such as extending product portfolio, acquisitions, expanding product portfolio, contracts, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe. The significant players studied in the report include AIQ Smart Clothing Inc., Google Inc., Intelligent Clothing Ltd., Interactive Wear AG, International Fashion Machines, Inc., Schoeller Textiles AG, Vista Medical Ltd., Textronics, Inc, E. I. DuPont De Nemours and Company, Vista Medical Ltd.,, Sensoria Inc., and Gentherm Incorporated.
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In this research report, the smart textile market is segmented by product, functionality, end-use, and region.
Analysis by Product:
By product, the report is categorized into passive, active, and very smart. The active segment dominates the product type segment with over 35% in the forecast period. Active and intelligent textiles, integrated with electronics, can improve soldiers' performance by sensing, which leads to more adoption. Also, it allows fighting soldiers to continue their mission by making them adapt themselves to the present state and responding to situational needs, thus contributing to the high demand for active smart fabric segment growth in the forecast period.
Analysis by Functionality:
By functionality, the report is categorized into sensing, energy harvesting, luminescence & aesthetics, thermoelectricity, and others. The sensing segment dominates the functionality segment with over 20% share in 2020. It is due to its ability to sense, which is the essential attribute of any intelligent garment. Moreover, the growing usage of sensing and monitoring in several applications such as medical, sports & fitness, and military & defense across the globe contributes to the high demand for smart textiles.
Analysis by End-Use:
By end-use, the report is categorized into fashion & entertainment, sports & fitness, medical, transportation, defense & military, and architecture. The defense & military segment dominates the end-use segment with over 25% share in 2020. It is due to the massive adoption of smart textiles in the defense sector. Moreover, the textile-based materials integrated with electronics and nanotechnologies have an essential role in developing technologically advanced military uniforms and materials which leads to its high consumptions of smart textiles in the military in the forecast period.
Analysis by Region:
In the regional outlook of the global Smart textile market, the North America region dominates globally with a 47% market share in the forecast period. It is due to the technological innovations and advancements, which led to the development of new products. Moreover, the rising demand from consumer electronics, transportations, and medical sectors encourages the high demand for smart textile in this region, thus contributing to tremendous market growth across North America.
Market Segmentation covered in the Report:
By Product
- Passive
- Active
- Very Smart
By End-Use
- Fashion & Entertainment
- Sports & Fitness
- Medical
- Transportation
- Protection & Military
- Architecture
By Functionality
- Sensing
- Energy Harvesting
- Luminescence & Aesthetics
- Thermoelectricity
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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