According to the new market research report "Smart Textiles Market with COVID-19 impact analysis by Type (Passive, Active/Ultra-smart), Function (Sensing, Energy Harvesting & Thermo-electricity, Luminescence & Aesthetics), Vertical, & Geography - Global Forecast to 2026"",the smart textiles market is expected to grow from USD 2.3 billion in 2021 to USD 6.6 billion by 2026; it is expected to grow at a CAGR of 23.2% during the forecast period. The major driving factors for the growth of the smart textiles market include implementation of advanced technologies in smart textiles, miniaturization of electronic components, and expanding wearable industry among others.
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Driver: Implementation of advance technologies in smart textiles
The emergence of new technologies such as artificial intelligence (AI) and Internet of Things (IoT) has transformed the textile industry. New smart apparel is being manufactured integrated with AI, Bluetooth Low Energy (BLE), edge computing, and cloud data, which can monitor and communicate the wearer’s information, including blood pressure, heart rate, perspiration, and temperature. AI can access and collect historical and real-time operational data and provide insights, which can enhance the wearer’s efficiency. Defect detection, pattern inspection, and color matching are some of the common applications of AI in textile manufacturing. The use of AI has enabled the production of smart apparel that leverage IoT and electronic sensors to create an excellent user experience. The integration of technologies in textiles can provide a more comfortable and health-focused experience. Since clothes cover a major portion of the body, smart textiles can potentially provide different types of physiological information. Besides, smart textiles highly rely on BLE and IoT technologies for a long-lasting energy source from their embedded battery.
Restraint: Lack of standards and regulations
The lack of standards and regulations is expected to be a key restrain for the market growth as it is making it difficult for smart fabric manufacturers to scale up and commercialize new and incremental technologies. The production of smart textiles can pose serious environmental and health hazards. Some of the major operations of the textile industry are de-sizing, bleaching, dyeing, neutralizing, scouring, mercerizing, printing, and finishing. These operations lead to the discharge of high-level toxic effluents that contaminate soil, as well as cause air, groundwater, and surface water pollution. Thus, the establishment of environmental standards is necessary to control the pollution caused by the textile and leather industries.
Sensing function accounts for largest market share for smart textiles market during the forecast period
Smart textiles are materials that sense and react to environmental conditions or stimuli, which is generated through mechanical, thermal, chemical, electrical, magnetic, or any other sources. They can sense body heat, heart rate, respiration rate, and motion & speed through various sensors. Apparels such as gloves, shirts, and pants made using smart textiles can sense different health parameters of a wearer. Advanced smart fabric sensors virtually track every psychological aspect, including bending, location, movement, and pressure. Thus, sensing is one of the major functions for which smart textiles are being used.
Sports and fitness vertical to have highest CAGR during the forecast period.
The sports and fitness segment is expected to register the highest CAGR during the forecast period. One of the key factors driving the growth of this segment is the growing awareness regarding health and fitness among the general population. Besides, the growing prevalence of heart-related diseases and diabetes is consequently expected to drive the growth of the smart textiles market for the sports and fitness vertical.
North America accounts for the largest share of the smart textiles market during the forecast period
North America accounted for the largest share of the smart textiles market due to several factors. One of the most important factors is technological innovations and advancements, which led to the introduction of new products. The increasing demand for smart textiles from the consumer electronics and medical industries has led to the growth of the smart textiles market in North America.
The report profiles key players in the smart textiles market and analyzes their market shares. Players profiled in this report are DuPont (US), Alphabet (US), Jabil (US), AIQ Smart Clothing (Taiwan), Sensoria (US), Gentherm (US), Interactive Wear (Germany), Outlast Technologies (US), Adidas (Germany), Hexoskin (Canada), TenCate (Netherlands), Clim8 (France), Nike (US), Sensing Tex (Spain), Thermosoft International (US), Milliken & Company (US), Applycon (US), Peratech (UK), CHARNAUD (South Africa), Footfalls & Heartbeats (UK), Volt Smart Yarns (US), Samsung(South Korea), Ambiotex (Germany), Microsoft (US) and LifeSense Group (Netherlands).
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