Key Market Insights
"To improve productivity, industries are adopting smart fabric"
The fabrics that have digital and electronics components entrenched in them are referred as E-textiles or electronic textiles or smart fabrics. These fabrics have the ability to recognize and sense stimuli from the surroundings and adapt & respond to those stimuli in a pre-programmed way. Their capability to grow, correspond, transform, and even conduct energy makes them different from normal textiles, thus adding worth to the wearer. With the technological advancement in the electronics industry such as nanotechnology, the smart fabric market is a budding market, created as a result of the tininess of electronics and drop in the costs of electronics as well as manufacturing charges, of both semiconductors and textiles.
The rising usage of electronic devices in everyday life is impelling the worldwide smart fabrics market as a result of the foremost implementation of smart textiles as an electronics device. With the integration of electronic components in smart textiles, they are used in various applications such as health management, actuation, response, and communication. These textiles help to control muscle vibrations, regulate body temperatures, and protect from environmental hazards such as radiation.
On the other hand, the major restraint for the smart textile market is the high cost of production. Smart textiles require high-end materials and are highly sophisticated due to which perfect cost-price balance is not achieved by manufacturers. The market is hindered due to the cost of electronic devices and components, which further increases the prices of smart textiles.
Overall, the global smart fabric market was US$ 1,580.8 Mn in 2021 and is expected to reach US$ 13,395.6 Mn by 2030, growing at a CAGR of 26.8% from 2023 to 2030.
Fabric Type Segment Analysis
"Passive segment dominating the market"
Passive smart fabrics capture the major share of the global market in 2021. The passive smart fabrics are wearable clothing that can sense the user movement and the surrounding environment. This segment led the market in 2021 due to low product prices compared to the other two sub-segments and fewer complex functionalities than other variants. However, active & ultra-smart fabric has the ability to sense, react, and adapt its behavior to the given circumstances. With the advancement in AI and nanotechnology both these segments expected to witness the highest CAGR over the forecast period on account of its ability to effectively deal with life-threatening circumstances, such as accidents or battlefields or to maintain high levels of comfort even during extreme environmental changes.
Regional Analysis
"North America dominating the global market by region"
North America is expected to hold the largest share of the global market by 2030 and is also projected to be the fastest-growing regional market. This can be attributed to the increasing product demand in the transportation and healthcare industries in North America. The Asia Pacific is also anticipated to witness steady growth in the years to come. Along with it, the presence of major companies such as Nike and Adidas have further added advantages to the regional growth of the market.
The availability of low-cost raw materials and labor in Asian countries, such as China, Japan, and India, has transformed it into a manufacturing hub for such technology. This has led to a decline in the overall production of smart fabrics in the European region. However, an increasing number of R&D activities for such intelligent fabrics sponsored within the EU FP6 and FP7 programs are revitalizing the industry in the European countries.
"Technological advancement is keeping the market competitive"
The global smart fabric market is competitive. Prominent players operating in the smart fabric market are adopting strategies such as a partnership with other companies, acquisition of smaller players to increase their production capacity and geographical reach. Following is the list of players included in the published reports.
List of Companies Covered:
Key Industry Development:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Smart Fabric market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Fabric Type
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Functionality
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Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
