Dublin, April 04, 2023 (GLOBE NEWSWIRE) -- The "Smart Textiles Global Market Opportunities and Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists; marketers and senior management with the critical information they need to assess the global smart textiles market as it emerges from the COVID-19 shut down.
The smart textiles market reached a value of nearly $2,516.6 million in 2021, having grown at a compound annual growth rate (CAGR) of 20.2% since 2016. The market is expected to grow from $2,516.6 million in 2021 to $9,301.1 million in 2026 at a rate of 29.9%. The market is then expected to grow at a CAGR of 26.1% from 2026 and reach $29,670.5 million in 2031.
Companies Mentioned
- Koninklijke Ten Cate NV
- Schoeller Textil AG
- Eeonyx Corporation
- Tex-Ray Industrial Co. Ltd.
- AiQ Smart Clothing Inc.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
Growth in the historic period resulted from strong economic growth in emerging markets, increased internet penetration, increasing millennial population, low interest rate environment and urbanization. Factors that negatively affected growth in the historic period were growth in costs, data privacy issues and expensive wearable technology.
Going forward, increasing e-commerce, increasing demand for sportswear, increasing adoption of 5G networks, rising population and internet of things (IoT) will drive the growth. Factors that could hinder the growth of the smart textiles market in the future include reduction in free trade, high production cost, security challenges, counterfeit products and Russian-Ukrainian war.
The smart textiles market is segmented by type into passive, active and ultra-smart. The passive market was the largest segment of the smart textiles market segmented by type, accounting for 53.9% of the total in 2021. Going forward, the active segment is expected to be the fastest growing segment in the smart textiles market segmented by type, at a CAGR of 31.4% during 2021-2026.
The smart textiles market is also segmented by function into energy harvesting, sensing, thermoelectricity, luminescent and other functions. The sensing market was the largest segment of the smart textiles market segmented by function, accounting for 29.1% of the total in 2021. Going forward, the sensing segment is expected to be the fastest growing segment in the smart textiles market segmented by function, at a CAGR of 31.4% during 2021-2026.
The smart textiles market is also segmented by end-user into fashion and entertainment, sports and fitness, medical, automotive, protection and military, architecture and other end users. The protection and military market was the largest segment of the smart textiles market segmented by end-user, accounting for 30.4% of the total in 2021. Going forward, the sports and fitness segment is expected to be the fastest growing segment in the smart textiles market segmented by end-user, at a CAGR of 32.2% during 2021-2026.
North America was the largest region in the smart textiles market, accounting for 34.9% of the total in 2021. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the smart textiles market will be Asia Pacific and North America where growth will be at CAGRs of 33.4% and 31.2% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 29.0% and 24.6% respectively.
The Global smart textiles market is highly fragmented, with a large number of players. The top ten competitors in the market made up to 4.38% of the total market in 2021. The majority of the companies are local players, they have a large number of domestic manufacturing facilities and have a presence across the supply chain.
However, some large companies are trying to expand their presence in other low-cost economies to take advantage of low-cost labor and cheaper raw material prices. Koninklijke Ten Cate NV was the largest competitor with 1.95% share of the market, followed by Schoeller Textil AG with 0.50%, Eeonyx Corporation with 0.41%, Tex-Ray Industrial Co. Ltd with 0.39%, AiQ Smart Clothing Inc. with 0.30%, Sensoria Inc with 0.20%, Noble Biomaterials with 0.17%, Interactive Wear AG with 0.17%, Mitsufuji Corporation with 0.17%, and Xenoma Inc with 0.12%.
The top opportunities in the smart textiles market segmented by type will arise in the passive segment, which will gain $3,432.1 million of global annual sales by 2026. The top opportunities in the smart textiles market segmented by function will arise in the sensing segment, which will gain $2,137.7 million of global annual sales by 2026.
The top opportunities in the smart textiles market segmented by end-user will arise in the protection and military segment, which will gain $2,087.4 million of global annual sales by 2026. The smart textiles market size will gain the most in USA at $2,172.2 million.
Market-trend-based strategies for the smart textiles market include focus smart fabric technology, wearable tele-rehabilitation platform, technology development, digital testing, product launch and innovative smart garments.
Player-adopted strategies in the smart textiles market include focus on expanding and strengthening product portfolio by adopting strategies such as partnership and collaboration with companies having advanced technologies.
Key Attributes:
Report Attribute | Details |
No. of Pages | 376 |
Forecast Period | 2021 - 2031 |
Estimated Market Value (USD) in 2021 | $2516.6 Million |
Forecasted Market Value (USD) by 2031 | $29670.5 Million |
Compound Annual Growth Rate | 28.0% |
Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Smart Textiles Market Definition and Segmentations
6.4. Market Segmentation By Type
6.4.1. Passive
6.4.2. Active
6.4.3. Ultra-Smart
6.5. Market Segmentation By Function
6.5.1. Energy Harvesting
6.5.2. Sensing
6.5.3. Thermoelectricity
6.5.4. Luminescent
6.5.5. Other Functions
6.6. Market Segmentation By End-User
6.6.1. Fashion And Entertainment
6.6.2. Sports And Fitness
6.6.3. Medical
6.6.4. Automotive
6.6.5. Protection And Military
6.6.6. Architecture And Other End Users
7. Major Market Trends
7.1. Smart Fabric Technology
7.2. Wearable Tele-Rehabilitation Platform
7.3. Technology Development
7.4. Digital Testing
7.5. Product Launch
7.6. Innovative Smart Garments
8. Global Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, 2016 - 2021, Value ($ Million)
8.3. Historic Market Growth, 2016 - 2021, Shipments (Million Units)
8.3.1. Market Drivers 2016 - 2021
8.3.2. Market Restraints 2016 - 2021
8.4. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
8.5. Forecast Market Growth, 2021 - 2026, 2031F, Shipments (Million Units)
8.5.1. Market Drivers 2021 - 2026
8.5.2. Market Restraints 2021 - 2026
9. Global Market
9.1. Global Smart Textiles Market, Segmentation By Type, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.2. Global Smart Textiles Market, Segmentation By Function, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.3. Global Smart Textiles Market, Segmentation By End-User, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
10. Global Market, Regional And Country Analysis
10.1. Global Smart Textiles Market, By Region, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
10.2. Global Smart Textiles Market, By Country, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
For more information about this report visit https://www.researchandmarkets.com/r/6rt587
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment