According to the new research report published by The Insight Partners, titled "Smart textile Market - Global Analysis and Forecasts to 2027", the global Smart textile market is expected to reach US$ 13.63 Bn in 2027, by registering a CAGR of 26.1% during the forecast period 2019-2027.
Smart textiles and interactive fabrics are used for personal health management by integrating, validating, and use of smart clothing with the integration of sensors/ actuators, processing, energy sources, and communication used for personal applications such as emergency, protection/safety, and healthcare. The sensing function is basically performed with the help of sensors integrated in the textile used for sensing the environment or stimuli, human body senses, and accordingly respond. There are various sensors integrated with the textile to sense the environment and have various advantage over the conventional sensors.
The transport industry is also exploring the usage of smart textiles to improve the safety and comfort of the traveler with control panels allowing activating heated seats, and airbags, among others. The vital data can be used to detect early signs of fatigue to warn the driver. For instance, the company BeBop sensors, which has manufactured a smart fabric sensor technology loaded with what it’s calling the Automotive Occupant Classification System. These sensors get pressure information and movement from the entire seat in real-time. They are able to collect data points for all aspects of physical contact between the occupant and the seat, including leaning forward or back, left or right, crossing legs, occupant size, and weight. This opportunity is predicted to pitch over the period leading to a huge opportunity for the Smart Textile players.
The smart textile market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, MEA, and SAM. The North America region holds the highest market share, whereas APAC is projected to be the fastest-growing region as well in the coming years. The countries of Asia are accounted to contribute nearly 28% of the total global military spending. The favorable increase in the economic structure in many of the Asian countries has boosted the military expenditure in recent years. Due to rising tension and conflicts with China and Pakistan, the Indian military’s strategic procurement of significantly large numbers of smart technology-based uniforms for their soldiers has positively impacted the smart textile market. China, Vietnam, Bangladesh, and Singapore, among others, are some of the leading countries in the apparel sector and therefore are taking advantage of smart textiles. The above-mentioned growing industries have the potential to boost the business of the smart textile market.
The smart textile market by industry vertical is segmented into healthcare, sports & fitness, fashion, military, and automotive. The sports & fitness holds a significant share in the market, on the other hand, the military is expected to be the fastest-growing application during the forecast period. The smart textile permit the soldiers to perform their operations efficiently by protecting the army personnel from infrared and visual light, heat as well as sweat. The military & defense sectors globally are focusing on their soldiers to provide well-equipped uniforms which are integrated with microelectronic materials that are lightweight, for enhancing the soldiers’ performance during war operations.
Based on function, the smart textile market is segmented into Sensing, energy harvesting, Luminescence & Aesthetics, and thermo-electricity. The thermo-electricity function is predicted to be the fastest-growing region in the market owing to rising demand for new and innovative fashion globally is permitting the fashion designers to choose smart fabrics. These smart textiles integrate various microelectronic devices such as sensors, actuators, energy storage devices, LEDs, and many more, to offers luminescence and aesthetics functionality to the costumes.
The major players operating in the market for the smart textile market are Intelligent Clothing Ltd., Google, Inc., International Fashion Machines, Inc., Interactive Wear AG, Textronics, Inc., Gentherm Incorporated, Schoeller Textiles AG, Vista Medical Ltd., Nike, Inc., and Thermosoft International among others.
The report segments the global smart textile market as follows:
Global Smart Textile Market - By Type
Global Smart Textile Market - By Function
Global Smart Textile Market - By Industry Vertical
Global Smart Textile Market - By Geography
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