Smart Textiles Market to be Worth USD 23.82 Billion by 2031, Rising at A 25% CAGR – Exclusive Report by Transparency Market Research
Growing demand for smart textiles in medical wearables and patient monitoring systems. Research focuses on eco-friendly materials and production processes in the smart textiles market.
Wilmington, Delaware, United States, Sept. 28, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The smart textiles market was estimated to have acquired US$ 2.10 billion in 2022. It is anticipated to register a 25% CAGR from 2021 to 2031 and by 2031, the market is likely to gain US$ 23.82 billion. Imagine curtains that adjust based on the sunlight or carpets that regulate room temperature. Smart textiles can be integrated into home furnishings to create a more comfortable and energy-efficient living space. Market players can explore partnerships with home automation companies to develop intelligent home textiles.
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Smart textiles can enhance building safety. Fabrics with fire-resistant and self-extinguishing properties can be used in architectural applications. Innovations like temperature-sensitive textiles for energy-efficient buildings hold untapped potential for market players. Smart textiles are making their way into cars. These textiles can be used for automotive interior applications, including airbags with embedded sensors for improved safety and climate-control seats for enhanced comfort. Market players can collaborate with automobile manufacturers to drive innovation in this space.
Smart textiles are not limited to fashion; they have applications in agriculture too. Sensors embedded in textiles can monitor soil conditions, humidity levels, and plant health. Market players can venture into the agricultural sector by developing smart textiles for precision farming. Smart textiles can play a crucial role in disaster management. Firefighters’ suits with integrated sensors for real-time monitoring and communication can enhance safety. Market players can contribute to public safety by developing innovative solutions for first responders.
Smart textiles can be used to monitor environmental conditions such as air quality and pollution levels. These textiles can be employed in urban planning and environmental conservation efforts. Market players can create textiles that contribute to a sustainable future. Children’s wearables and smart toys represent an emerging market. Interactive textiles can be used to create educational and entertainment products. Market players can explore this niche by developing engaging and educational textile-based toys.
Key Findings of the Market Report
- Active/ultra-smart textiles dominate the smart textiles market, offering advanced functionalities like sensing, data processing, and communication capabilities.
- Sensing stands as the dominating function in the smart textiles market, enabling various applications such as health monitoring and performance tracking.
- Healthcare emerges as the dominating end-use industry in the smart textiles market, with applications in medical wearables and health monitoring.
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Market Trends for Smart Textiles
- Smart textiles with embedded sensors and monitoring capabilities gain traction in the healthcare sector for continuous patient tracking.
- Eco-friendly materials and production processes are on the rise to meet sustainability demands.
- Smart textiles are becoming a fashion statement, with designers incorporating technology into clothing.
- Smart textiles find extensive use in military and defense for enhanced communication, protection, and surveillance.
- Growing integration of smart textiles with wearable devices, such as fitness trackers and smartwatches, for seamless data collection.
Market for Smart Textiles: Regional Outlook
- North America stands as a pioneer in smart textiles adoption, particularly in healthcare and military applications. Robust R&D investments, combined with partnerships between textile manufacturers and tech giants, drive innovation. The region’s well-established fashion-tech industry also contributes to smart textiles’ integration into everyday life.
- Europe places a strong emphasis on sustainable smart textiles and their integration into fashion and architecture. Regulatory support for wearable technology and eco-friendly materials bolsters the market. European designers and manufacturers collaborate to create stylish yet functional smart clothing.
- Asia Pacific is a rapidly growing hub for smart textiles, thanks to its manufacturing prowess and surging demand for wearable technology. Countries like China are at the forefront of production, making the region a key player in the global smart textiles market. The expansion of the middle class and the popularity of fitness and wellness contribute to the region’s growth.
Global Smart Textiles Market: Key Players
The competitive landscape in the smart textiles market is marked by innovation, with key players vying to create advanced and functional textile products for diverse industries, including healthcare, fashion, and sports. The following companies are well-known participants in the global Smart Textiles market:
- Alphabet Inc.
- Jabil Inc.
- AiQ Smart Clothing Inc.
- Gentherm Incorporated
- Interactive Wear
- Outlast Technologies
- Alphabet offers a diverse product portfolio encompassing technology and digital services, including search engines, cloud computing, hardware, and artificial intelligence-driven solutions.
- Jabil provides a comprehensive product portfolio, offering manufacturing and supply chain solutions for industries such as healthcare, automotive, and consumer electronics, ensuring efficient and high-quality production.
- AiQ Smart Clothing specializes in wearable technology, offering a range of smart textiles and apparel with embedded sensors and connectivity for health monitoring and performance enhancement.
Global Smart Textiles Market Segmentation
- Passive Smart Textile
- Active/Ultra-Smart Textiles
- Energy Harvesting
- Luminescence & Aesthetics
- Others (Thermoelectricity, etc.)
- Military & Protection
- Sports & Fitness
- Fashion & Entertainment
- Others (Architecture, Automotive, etc.)
- North America
- Asia Pacific
- Middle East & Africa
- South America
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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