Dublin, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The "Smart Fabrics: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Smart Fabrics Market to Reach $20.6 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Smart Fabrics estimated at US$4.5 Billion in the year 2022, is projected to reach a revised size of US$20.6 Billion by 2030, growing at a CAGR of 21.1% over the analysis period 2022-2030.
Sensing, one of the segments analyzed in the report, is projected to record a 21.7% CAGR and reach US$8.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Energy Harvesting & Thermoelectricity segment is readjusted to a revised 23.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 20.1% CAGR
The Smart Fabrics market in the U.S. is estimated at US$1.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$3.5 Billion by the year 2030 trailing a CAGR of 20.1% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.9% and 17.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 14.3% CAGR.
Looking Ahead to 2023
With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers.
Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Metrics
| Report Attribute | Details |
| No. of Pages | 288 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $4.5 Billion |
| Forecasted Market Value (USD) by 2030 | $20.6 Billion |
| Compound Annual Growth Rate | 20.9% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Smart Fabrics: When Technology Meets Textile!
- Recent Market Activity
- Smart Fabrics - A Nascent Yet High Growth Market
- Growth Drivers and Market Restraints - In a Nutshell
- R&D Initiatives, Technology Innovations and Material Advancements: Playing a Critical Role in Expansion of Smart Fabrics Market
- Promising Future Ahead for the Smart Textiles Market
- Expanding Applications Bode Well for Smart Fabrics Market
- Smart T-Shirts & Jackets: Promising Segments in Smart Fabrics Market
- Developed Markets Hold Ground in Smart Fabrics Market, Developing Economies Positioned for Long-term Growth
- High Cost, Compatibility & Power Supply Issues, and Privacy Concerns: Major Concerns to Address for the Smart Fabrics Market
- Integration of Sensors into Garments - A Major Challenge for Smart Fabric Makers
- Smart Fabrics - Global Key Competitors Percentage Market Share in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
MARKET TRENDS & DRIVERS
- Industry Evolves from Passive to Active to Ultra-Smart Textiles
- Smart Clothing Transforming the Wearable Technology Products Market
- Smart Fabrics - the Next Big Wave of Wearables
- Microencapsulation & Nanotechnology: Harbingers of Future Growth
- Military - A Lucrative End-Use Sector
- Increased R&D Initiatives in Smart Textiles for Military Applications
- Healthcare - The Fastest Growing Application Market for Smart Textiles
- Smart Textile Applications in Healthcare Industry
- Smart Clothing Gains Acceptance in Neonatal Monitoring
- Wearable Biomedical Sensors - A Potential Market Segment
- Smart Sutures
- Smart Socks Grow in Demand
- A Glance at Few Startups in the Smart Medical Textiles Market
- Telemonitoring for the Elderly: Opportunities for Smart Textiles Market
- Aging Population: Opportunity for Telemonitoring
- Smart Fabrics for Transportation Market: The Major End-Use Segment
- Sports & Fitness - A Significant Revenue Contributor
- Smart Inner Wear & Socks - Unique Wearables for Sports & Fitness Market
- New Smart Wearables for Ensure Better Workouts
- Improving Performance of Athletes in Professional Sports
- Smart Clothing with Thermal Changes
- Growing Use in the Fashion Industry Drives Smart Textiles Market
- An Insight into Select Smart Fashion Brands
- Ambient Computing Key to Fashion Technology
- Demand for Smart Textiles in Space Application Grows
- Energy-Producing Textiles Offer High Growth Potential
- Smart Workwear - Addressing Needs of Employees in Hazardous Environments
- Light Conducting Fibers Hold Enormous Potential
- Self-Cleaning Textiles: The Focus of Innovations in Smart Fabrics Market
- RMIT University Researchers Develop Self-Cleaning Nano-Enhanced Textiles
- Smart Fabric Designs: Focus on Simplifying Interactions
- Actuation and Response Applications Determine Market for SFITs
- Product Innovations Stimulate Growth in Smart Fabrics Market
- A Review of Select Product Developments in the Smart Fabric Market
- A Look at Other Recent Launches/Developments in the Smart Fabric Market
- Rigorous R&D Investments Spearhead Growth
- Multidisciplinary Approach to a Complex R&D Structure
- Public Funding for Smart Textiles R&D
- A Review of Select Smart Fabric Research Initiatives
FOCUS ON SELECT PLAYERS
- AiQ Smart Clothing, Inc. (Taiwan)
- Clothing+ (Finland)
- DowDuPont, Inc. (USA)
- EXO2 (USA)
- Globe Manufacturing Company, LLC (USA)
- Hexoskin (Canada)
- Intelligent Clothing Ltd. (UK)
- Interactive Wear AG (Germany)
- International Fashion Machines, Inc. (USA)
- Marktek, Inc. (USA)
- Milliken & Company (USA)
- Noble Biomaterials, Inc. (USA)
- Ohmatex ApS (Denmark)
- Outlast Technologies LLC (USA)
- Schoeller Textiles AG (Switzerland)
- Sensoria, Inc. (USA)
- Smartex s.r.l (Italy)
- Toray Industries, Inc. (Japan)
For more information about this report visit https://www.researchandmarkets.com/r/d2ycs6
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