Smart Fabrics Market

Global Smart Fabrics Market Size & Share (2021 – 2026)

The global smart fabrics market is predicted to reach $ 7.89 billion by 2025, up from $ 3.2 billion in 2020, with a CAGR of 28.4% throughout the envisioned period from 2020 to 2025.

Smart fabrics, also known as electronic textiles or smart textiles, are fabrics that contain integrated electronic and digital components. These fabrics can recognize sensory stimuli from the environment and adapt and respond to these stimuli in a predestined way. Their ability to grow, combine, transform and even conduct energy makes them different from normal textiles, adding value to the wearer. The smart fabrics market is a nascent industry created due to the small size of electronics and falling costs for electronics, as well as manufacturing costs, for both semiconductors and textiles.

Smart fabrics are manufactured to include technologies that provide the user with greater functionality. It detects and responds to stimuli or environmental conditions, such as thermal, mechanical, chemical, magnetic and other sources. The rising need for various smart textile products has increased with their expanding applications in end-user verticals like military, defense, and healthcare. Both developed and developing countries will experience increased demand with innovative trends.

Recent Developments:

• January 2018: Twinery MAS launches Nova, a high-visibility jacket with on-demand lighting. Nova has patent-pending LightGuide technology that is embedded in the fabric and activated on demand to illuminate people and provide high-visibility protection for up to eight hours. A person wearing the Nova jacket will be visible from a distance of 450 feet, the length of almost three football fields.
• In 2015, Nike patented the smart t-shirt design for fitness tracking. The newly launched is capable of incorporating properties such as heart rate and blood pressure.
• In 2018, AiQ Smart Clothing is expected to attend trade shows such as Wearable Technologies Show, Consumer Electronics Show, Wearable Device & Technology, etc.

Impact of Covid-19 on Smart Fabrics Market:

With the COVID-19 outbreak, the market may not see substantial growth. Smart fabric making needs a high degree of automation and developments in textile processing procedures. The industry is not included in the essential services segment, as it is considered in the category of "clothing and lifestyle items", so the factories are not currently in operation.

In May 2020, the Garment Manufacturers Association of India led the government to consider imposing a temporary additional COVID import duty on clothing imports for a period of 12 months. Furthermore, it is expected to hamper the development and shipping of smart fabrics based on fashion and entertainment, as the price increase will have some impact on the demand for these products.

Market growth and trends:

Adoption of wearable devices to drive growth in Smart Fabrics Market

• Connected wearable devices are rapidly evolving around the world, as a growing trend to bring data analysis and communication from the smartphone directly to the body. Technologists increasingly use a combination of sensors, machine learning, and big data analytics to provide consumers with more data than ever before about their bodies and lives. This emerging field of electronic products will have a dramatic impact on human-machine interaction.
• Wearable technology has always been concerned with academia and the computer industry. For example, international tech giants like Google and Apple have dramatically increased their investments in wearable technology, spilling over into fashion design.
• For example, Nike and Google together launched a new athletic shoe that can track a user's real-time footprints from Google Earth. Wearing this kind of shoes can monitor the route movement and gather massive information that can be used for analysis.

Market Drivers and Restraints:

The discovery of smart fabrics is a milestone in the ever-growing wearable device industry. Hence, it has driven the demand for wearable devices thereby increasing the growth of the global smart fabrics market. In addition, consumer preference has shifted towards miniaturized electronic devices that provide comfort and convenience. This has played a key role in the boom in the smart fabrics market.

Smart fabrics are superior to other portable devices in many ways, such as data transfer, communication, and electrical conductivity. These factors have led to increased demand for smart fabrics, accelerating the growth of this market. In addition, the ease of use that smart fabrics offer has driven the growth of the market.

In addition to the above-mentioned factors, the development of smart fabrics that offer recyclability and reuse has increased the consumer base of the market, leading to its expansion. In addition, features like low power consumption and the integration of Bluetooth Low Energy (BLE) technology that offers better data regulation will drive the growth of the smart fabrics market. The development of inexpensive wireless sensors has also led to the expansion of the market.

On the contrary, some hurdles may be hampering the growth of the global smart fabrics market. Factors such as lack of manpower and initial investment can lead to deficit in the global smart fabrics market. However, companies are focused on improving the functionality and aesthetics of the product. In addition, they focus on the development of new products. These factors may present new growth opportunities for the global smart fabrics market.

GLOBAL SMART FABRICS MARKET REPORT COVERAGE:

Market Segmentation:

The global smart fabrics market is mainly divided on the basis of functionality, product type, end-use industry, and region.

Global Smart Fabrics Market - By Functionality:

The market functionalities segment is divided into energy harvesting, luminance, thermoelectricity, sensing and other functionalities.

Global Smart Fabrics Market - By Product Type:

The product type segment of the global smart fabrics market is divided into active smart fabrics, ultra-smart fabrics, and passive smart fabrics.

Global Smart Fabrics Market - By End Use Industry:

The end-use industry segment of the market is classified into electrical and electronics, construction, healthcare, architecture, automotive, and others.

Regional Analysis:

On the basis of geography, the global smart fabrics market is classified as North America, Europe, Middle East & Africa, Latin America, and Asia Pacific.

North America is the dominant region in the global market due to the growth of the electronics market in this area and the booming information technology segment. In addition, Asia-Pacific is expected to expand in the smart fabrics market due to the boom in construction industry and healthcare industry in this locale.

Key market players:

Major players in the global smart fabrics market include Nike, Inc., Oneill Wetsuits L.L.C., Adidas AG, Outlast Technologies LLC, and Milliken & Company. Some other important market players are Toray Industries, Inc., Schoeller Textil AG, Clothing Plus Oy, Infineon Technologies AG and Ohmatex Aps.