Smart Textiles Market Worth US$ 15 Billion by 2028 at CAGR of 24.6% | IMARC Group

SHERIDAN, WYOMING, UNITED STATES, March 15, 2023 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Smart Textiles Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2023-2028,” the global smart textiles market size reached US$ 3.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 15.9 Billion by 2028, exhibiting a growth rate CAGR of 24.6% during 2023-2028.

Smart textiles, or e-textiles, represent the fabrics that are embedded with conductive threads and electronic components. They are of two kinds, including passive and active. Smart textiles can sense or detect the environmental changes and automatically respond to the thermal, mechanical, and chemical manipulations. They can also communicate with additional devices, conduct energy, and modify the physical properties of other materials to protect the wearer from environmental hazards. Certain smart textiles are used for design and fashion purposes, while some are used to enable human functioning. As a result, these materials find widespread applications across various sectors, such as healthcare, transportation, military, entertainment, sports and fitness, etc.

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Market Trends

The emerging trend of miniaturization of electronics and the increasing integration of these materials with wearable devices are among the primary factors driving the smart textiles market. Besides this, the escalating product demand in the sports and healthcare industries to monitor muscle vibrations, regulate body temperatures, and provide protection from several hazards is further augmenting the market growth. Moreover, various innovations in the electronics sector have facilitated the incorporation of smart textiles with compact electronic components, including sensors, batteries, and control consoles, in wearable devices, which is also catalyzing the global market. Apart from this, the extensive research and development (R&D) activities by the leading players to launch advanced product variants are acting as significant growth-inducing factors. Furthermore, the growing popularity of these materials in the defense sector for health monitoring, wired and wireless communications, superior mobility, sensing of heat and cold stresses, and camouflage is anticipated to propel the smart textiles market over the forecasted period.

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List of Key Companies Covered in this Market Report:

Adidas AG
AiQ Smart Clothing Inc.
Clothing+
Dupont De Nemours Inc.
Gentherm Incorporated
Google LLC
Interactive Wear AG
Ohmatex A/S
Schoeller Textil AG
Sensoria Inc.
Texas Instruments Incorporated
Textronics
Vista Medical Ltd.

The report has segmented the market on the basis of type, functionality, end-use sector and geography.

Breakup by Type:

Passive Smart Textile
Active Smart Textile

Breakup by Functionality:

Sensing
Energy Harvesting
Luminescence and Aesthetics
Thermoelectricity
Others

Breakup by End-Use Sector:

Military and Protection
Healthcare
Sports and Fitness
Fashion and Entertainment
Transportation
Architecture
Others

Breakup by Geography:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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