Smart Textiles Global Market Report 2024

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 expansion observed in the historical period can be attributed to strong economic growth in emerging markets, increased internet penetration, a growing millennial population, a low-interest-rate environment, and urbanization.

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%. The anticipated growth in the forecast period can be attributed to increasing e-commerce, a growing demand for sportswear, the rising adoption of 5G networks, a growing population, and the expansion of the Internet of Things (IoT). Key trends expected during this period include a focus on smart fabric technology, the development of wearable tele-rehabilitation platforms, advancements in technology, digital testing, product launches, and the introduction of innovative smart garments.

The anticipated surge in demand for smart wearable devices is poised to drive the growth of the smart textiles market in the foreseeable future. Smart wearable devices, incorporating microprocessors integrated into clothing or worn as accessories, play a pivotal role in sending and receiving data via the internet. These devices include an array of products such as smart jackets, smart glasses, smart shirts, smart jewelry, smart watches, and more. The increasing popularity of smart wearable devices stems from their ability to offer real-time information on users' well-being and their envisioned role as the future of portable energy systems, high-tech sportswear, health monitoring systems, workwear, and military camouflages. Cisco Systems reports that the number of connected wearable devices is projected to reach 1,105 million by 2022, a notable increase from 593 million in 2021. Consequently, the burgeoning demand for smart wearable devices is a significant driver propelling the growth of the smart textiles market.

The rising demand within the textile industry is expected to be a key factor propelling the growth of the smart textiles market in the coming years. The textile industry, encompassing the development, production, processing, manufacturing, and distribution of textile and fabric materials, plays a crucial role in driving the evolution and widespread adoption of smart textiles. In 2021, the National Council of Textile Organizations notes that the value of U.S. man-made fiber and filament, textile, and apparel shipments reached an estimated $65.2 billion, showcasing growth from $60.8 billion in 2020. Additionally, U.S. exports of fiber, textiles, and apparel increased from $19.4 billion in 2020 to $22.7 billion in 2021. This upward trajectory in demand within the textile industry is poised to contribute significantly to the growth of the smart textiles market.

Technological advancements are actively shaping the landscape of the smart textiles market, with major companies in the sector focusing on developing advanced technological solutions to bolster their market positions. Notably, in May 2021, Nextiles, Inc., a technology company based in the U.S., launched smart fabric based on smart thread technology. This low-power wireless radio protocol enables direct communication between devices and facilitates the capture of real-time streaming of biometric and biomechanical data over Bluetooth, monitoring various human activities such as force, bending, stretching, velocity, and pressure.

A notable trend gaining traction in the smart textiles market is the emergence of wearable tele-rehabilitation platforms. These platforms contribute to reducing clinic visits for patients, utilizing digital platforms to provide rehabilitation services in remote settings. For instance, Sensoria, a U.S.-based company specializing in wearable solutions, launched the first truly wearable tele-rehabilitation platform in November 2022. This comprehensive tele-rehab platform addresses complex medical issues, enabling clinicians to remotely supervise a patient's rehabilitation journey.

In February 2021, DuPont, a U.S.-based technology company, acquired Tex Tech's Core Matrix Technology, expanding its portfolio of life-saving solutions. This acquisition allows DuPont to offer adaptable, lightweight ballistic solutions meeting new National Institute of Justice (NIJ) standards for increased durability. Tex Tech Industries, the acquired company, is a U.S.-based provider of smart textiles.

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.

North America was the largest region in the smart textiles market in 2023. The regions covered in the smart textiles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smart textiles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The main types of products in smart textiles include passive, active, and ultra-smart categories. Passive smart textiles represent the first generation of electronic textile materials or systems that contain sensors capable of sensing stimuli and changes in environmental conditions. They offer functions such as energy harvesting, sensing, thermoelectricity, luminescence, among others, and find applications in diverse areas such as fashion and entertainment, sports and fitness, medical, transportation, protection and military, architecture, and other fields.

The smart textiles market research report is one of a series of new reports that provides smart textiles market statistics, including smart textiles industry global market size, regional shares, competitors with a smart textiles market share, detailed smart textiles market segments, market trends and opportunities, and any further data you may need to thrive in the smart textiles industry. This smart textiles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The smart textiles market consists of sales in aesthetics, data processing, and smart fabrics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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