How Global Smart Textiles Market Players Should Strategize For 2022-2031
21 Feb, 2022
The global smart textiles market size is expected to grow from $2.52 billion in 2021 to $3.39 billion in 2022 at a compound annual growth rate (CAGR) of 34.6%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart textile market is expected to reach $9.30 billion in 2026 at a CAGR of 28.7%.
What is the Global Smart Textiles Market?
The smart textiles market consists of sales of smart textile products by entities (organizations, sole traders, and partnerships) that can sense, detect, and respond to the changes in environmental conditions. Smart textiles, also known as electronic textiles, are textile materials and systems with a digital component integrated into them which allows them to interact with their surroundings. Smart textiles can detect changes in the environment and adapt and respond automatically to mechanical, chemical, magnetic, electrical, and thermal manipulations to protect the wearer from environmental risks.
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What drives the Global Smart Textiles Market?
Surging demand for smart wearable devices is expected to propel the growth of the smart textiles market going forward. Smart wearable devices are electronic devices powered by microprocessors that are integrated into clothing, worn as accessories, and implanted in the body to send and receive data via the internet. Smart wearable devices include smart jackets, smart glasses, smart shirts, smart jewelry, smartwatches, and others. There is a surge in demand for smart wearable devices as they provide real-time information of users’ well-being and are the future for portable energy systems, high-tech sportswear, health monitoring systems, workwear, and military camouflages. For instance, according to Cisco Systems, a US-based networking hardware company, the number of connected wearable devices is expected to reach 1,105 million by 2022, up from 593 million in 2021. Therefore, the surging demand for smart wearable devices is promoting the growth of the smart textiles market.
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https://www.thebusinessresearchcompany.com/report/smart-textiles-global-market-reportGlobal Smart Textiles Market Segments
The global smart textiles market is segmented:
By Type: Passive, Active, Ultra-Smart
By Function: Energy Harvesting, Sensing, Thermoelectricity, Luminescent, Others
By End-User: Fashion and Entertainment, Sports and Fitness, Medical, Transportation, Protection and Military, Architecture, Others
By Geography: The regions covered in the smart textiles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Smart Textiles Global Market Report 2022provides market size and growth forecasts for the global smart textiles market, global smart textiles market share, smart textiles market segments and geographies, smart textiles market competitive landscape including leading competitors’ revenues, profiles and market shares. The smart textiles market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Smart Textiles Industry Playersinclude DuPont, AiQ Smart Clothing, Interactive Wear AG, Schoeller Textil AG, Sensoria Inc., Adidas AG, Outlast Technologies LLC, Ohmatex, Vista Medical Ltd., Google Inc., Noble Biomaterials, Koninklijke Ten Cate BV, DiPole Materials, Thermosoft International Corporation, and Chronolife. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.