Smart Textile Market Analysis, Size, Share, Growth, Trends, and Forecast by 2031

The Smart Textile Market size is projected to reach US$ 19.25 billion by 2031 from US$ 3.65 billion in 2023. The market is expected to register a CAGR of 23.1% in 2023–2031. The increasing demand for wearable electronics is likely to remain a key smart textile market trend.

Smart Textile Market Analysis

The textile business has seen a tremendous transformation thanks to advancements in smart textile material, which have allowed companies to expand their reach into high-tech applications and areas outside of their conventional market. Smart textiles are materials that have been embedded with computational power to offer extra features like stimulation, communication, and monitoring. The wearable electronics industry is expanding due to decreasing downsizing trends in modern electronics and rising demand for smart gadgets. The development of RFID, sensor technologies, and nanotechnology in textiles has also spurred market expansion.  

Smart Textile Market Overview

Smart textiles are textiles that have been combined with digital elements such as conductive fibers, microcontrollers, and sensors. These textiles possess the capacity to perceive, respond, and adjust to changes in their surroundings or stimuli originating from chemical, mechanical, or thermal causes. Smart textiles, unlike regular materials, include interactive features that can transfer data. They are being used more and more in the healthcare, sports, fashion, and military industries. In healthcare, they can monitor vital signs and notify medical personnel. They are capable of tracking performance parameters in sports. Military uses include enhanced camouflage and body armor with built-in communication devices.

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Smart Textile Market: Strategic Insights

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Smart Textile Market Drivers and Opportunities

Rising Demand from the Sport and Fitness Industry

Fitness lovers and athletes are constantly searching for methods to increase training results and performance. Smart textiles are a perfect fit for this optimization journey. These textiles, which range from socks that assess gait to shirts that track muscle activity, offer a multitude of data that may be utilized to modify training plans and avoid accidents. Furthermore, the collected data can be synced with smartphones or other devices, enabling instant action in response to real-time feedback. Athletes and casual runners alike can now access this degree of fine-grained data collecting that was previously exclusive to specialized sports labs. Furthermore, the expanding global focus on health and wellness trends is driving demand for smart textiles in sports and fitness, as they provide an easy way to monitor numerous data that can contribute to a better and more active lifestyle.

Growing Technological Advancement

The textile business has changed as a result of the introduction of new technologies like artificial intelligence (Al) and the Internet of Things (IoT). Al, Bluetooth Low Energy (BLE), edge computing, and cloud data are all being combined into new smart clothing that is being produced. This clothing can monitor and transmit the wearer’s data, such as temperature, heart rate, blood pressure, and perspiration. Al has the ability to retrieve and gather operational data in both the past and the present, as well as offer insights that can improve the wearer’s productivity. Al is frequently used in textile manufacturing for a variety of purposes, including color matching, pattern inspection, and defect detection. In addition, the integration of Al has made it possible to produce smart clothes that use electrical and loT sensors to provide a great user experience. Thus, the incorporation of technologies into textiles can create a more comfortable and health-oriented experience, which is expected to create an opportunity for the growth of the smart textile market in the forecasted period.

Smart Textile Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Smart Textile Market analysis are type, function, and industry vertical.

• Based on type, the smart textile market is segmented into active, passive, and ultra-smart. The active segment is anticipated to grow in the forecasted period.
• By function, the market is segmented into sensing, energy harvesting, luminescence & aesthetics, and thermo-electricity. The sensing segment is anticipated to grow in the forecasted period.
• By industry vertical, the market is segmented into healthcare, sports & fitness, fashion, military, and automotive. The sports & fitness segment is anticipated to grow in the forecasted period.

Smart Textile Market Share Analysis by Geography

The geographic scope of the Smart Textile Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

In terms of revenue, North America accounted for the largest smart textile market share. The market in this region is segmented into the US, Canada, and Mexico. The expansion of the regional market is driven by rising government investment in the defense and military industries as well as strong purchasing power. Furthermore, a large portion of the population in the region suffers from obesity, making it one of the main health challenges. As a result, consumers are gravitating toward a healthy lifestyle and purchasing goods that will support their continued physical activity. Accordingly, in order to remain competitive, market players are focusing their efforts on providing cutting-edge items at affordable costs. Furthermore, the rising government spending on R&D initiatives, particularly in the healthcare industry, is further fueling the growth of the smart textile market.

Smart Textile Market Regional Insights

The regional trends and factors influencing the Smart Textile Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Smart Textile Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Smart Textile Market Report Scope

Smart Textile Market Players Density: Understanding Its Impact on Business Dynamics

The Smart Textile Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Smart Textile Market are:

1. Dupont
2. Jabil
3. Sensoria
4. Interactive Wear AG
5. Adidas
6. Hexoskin

Disclaimer: The companies listed above are not ranked in any particular order.

Smart Textile Market News and Recent Developments

The smart textile market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

• Loomia Technologies partnered with Advanced Functional Fabrics of America (AFFOA) to develop highly tactile, heated handwear that could be applicable to both commercial/recreational and military customers. For this collaborative project, Loomia will provide technology to be used in a heated glove insert, while AFFOA will lead customer discovery, deliver system architecture designs, and produce an interface control unit. In addition to the heated glove insert, Loomia will also develop a heated sleeve. Both items will provide thermal comfort to users in harsh climates or other areas where this protection is deemed necessary. (Source: Loomia Technologies, Press Release, 2022)
• The UK Fashion and Textile Association (UKFT) announced a partnership with Smart Textile Alliance. The partnership between STA and UKFT will be mutually beneficial, opening up the potential for new avenues of innovation in technology and fashion. (Source: UKFT, Press Release, 2021)

Smart Textile Market Report Coverage and Deliverables

The “Smart Textile Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles