Market Outlook
According to this report, the smart fabrics market size reached a value of USD 4.76 billion in 2023. Aided by the increasing demand for innovative textile solutions and the growing applications of smart fabrics across various sectors, the market is projected to further grow at a CAGR of 18.7% between 2024 and 2032 to reach a value of USD 22.30 billion by 2032.Smart fabrics, also known as e-textiles or intelligent textiles, integrate advanced technologies into traditional fabrics to provide enhanced functionality. These fabrics are designed to sense and respond to environmental conditions or stimuli, such as temperature, humidity, light, and movement. Smart fabrics are used in various applications, including healthcare, sports and fitness, fashion, military, and automotive, offering benefits such as improved performance, comfort, and safety.
The increasing demand for innovative textile solutions is driving the smart fabrics market growth. With the growing awareness of the benefits of smart fabrics, there has been a significant shift towards the adoption of these advanced textiles in various industries. Smart fabrics offer enhanced functionality, including temperature regulation, moisture management, and real-time monitoring, making them ideal for applications in healthcare, sports, and fashion.
The rising trend of wearable technology and the growing adoption of IoT (Internet of Things) also play a significant role in the market's growth. As more consumers and sector embrace wearable technology, there is a growing demand for smart fabrics that can seamlessly integrate with wearable devices. These fabrics provide real-time data and connectivity, enhancing the functionality and user experience of wearable technology.
The expanding applications of smart fabrics in various sectors significantly contribute to the market's growth. In the healthcare sector, smart fabrics are used to develop wearable health monitors and medical garments that can track vital signs, detect health anomalies, and provide real-time data to healthcare providers. The increasing focus on remote patient monitoring and the growing demand for advanced healthcare solutions have driven the adoption of smart fabrics in the healthcare sector, consequently driving up the smart fabrics market share.
In the sports and fitness sector, smart fabrics are employed to develop performance-enhancing sportswear and fitness garments that can monitor physical activity, track performance metrics, and provide real-time feedback to athletes. The rising trend of fitness and the growing emphasis on performance optimisation have boosted the demand for smart fabrics in the sports and fitness sector.
In the fashion sector, smart fabrics are used to create interactive and adaptive clothing that can change colour, light up, or provide haptic feedback based on environmental conditions or user preferences. The increasing demand for innovative and customisable fashion solutions has driven the adoption of smart fabrics in the fashion sector.
As per the smart fabrics market analysis, North America holds a significant share in the market, driven by the presence of leading technology companies and a well-established innovation ecosystem in the region. The increasing adoption of wearable technology and the rising focus on advanced healthcare solutions have boosted the demand for smart fabrics in North America. Moreover, the region's strong focus on research and development and the presence of a robust textile sector further support market growth.
Sensing functions represent the largest segment, driven by the high demand for smart fabrics that can monitor and respond to environmental conditions and physical activities. Energy harvesting and luminescent functions are also significant, catering to specific applications such as wearable health monitors and interactive clothing.
Market Segmentation
The market can be divided based on function, end use, and region.Market Breakup by Function
- Sensing
- Energy Harvesting
- Luminescence and Aesthetics
- Thermoelectricity
- Others
Market Breakup by End Use
- Sports and Fitness
- Fashion and Entertainment
- Medical
- Transportation
- Protection and Military
- Others
Market Breakup by Region
- North America
- Europe
- Latin America
- Middle East and Africa
- Asia Pacific
Competitive landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global smart fabrics market. some of the major players explored in the report are as follows:- Schoeller Textil AG
- Interactive Wear AG
- AiQ Smart Clothing Inc.
- NIKE Inc.
- Osmotex AG
- Sensoria
- OTEX Specialty Narrow Fabrics, Inc
- Jabil Circuit, Inc.
- EXO2 The Heat Inside
- Applycon, s. r. o.
- Others
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market16 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Market Snapshot
8 Global Smart Fabrics Market Analysis
9 North America Smart Fabrics Market Analysis
10 Europe Smart Fabrics Market Analysis
11 Asia Pacific Smart Fabrics Market Analysis
12 Latin America Smart Fabrics Market Analysis
13 Middle East and Africa Smart Fabrics Market Analysis
14 Market Dynamics
15 Competitive Landscape
List of Key Figures and Tables
Companies Mentioned
- Schoeller Textil AG
- Interactive Wear AG
- AiQ Smart Clothing Inc.
- NIKE Inc.
- Osmotex AG
- Sensoria
- OTEX Specialty Narrow Fabrics, Inc
- Jabil Circuit, Inc.
- EXO2 The Heat Inside
- Applycon, s. r. o.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 184 |
Published | June 2024 |
Forecast Period | 2024 - 2032 |
Estimated Market Value ( USD | $ 5.66 Billion |
Forecasted Market Value ( USD | $ 22.3 Billion |
Compound Annual Growth Rate | 18.7% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |