Vancouver, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The global smart fabrics market size was USD 3.90 Billion in 2022 and is expected to register revenue CAGR of 24.5% during the forecast period. The global smart fabrics market revenue growth is as a result of increasing wearable electronic industry, electronics miniaturization and advancements in flexible electronics and technological advancements in smart fabrics.
The primary factor driving smart fabric market revenue growth is increasing adoption of smart wearables and other devices across a range of end-use industries. According to a report, by 2024, it is expected that there could be up to 440 million wearable medical devices in use globally. More medical professionals use these products that were recently introduced. This includes wearables, such as smart watches, that have been the most widely used in the medical field. In addition, there has been a lot of work done to increase the payment capabilities of fabric wearables. For instance, Mastercard and Timex collaborated to incorporate contactless payment functionality into the timepieces, while CashCuff, a U.K.-based company, achieved the same thing with the cufflinks. The market is expected to evolve in order to accommodate similar developments in smart fabrics once such innovative uses become popular, as they have.
The market revenue growth is also being driven by developments in flexible electronics and electronics miniaturization. The development of smaller electronic components, such as actuators and sensors (for active smart fabrics), and controlling unit (advanced smart fabrics), is improving the productivity of smart fabrics. There has been notable proficiency in printed electronics, nanoscale manufacturing, and multifunctional plastics manufacture. For an instance, UMass Lowell is now working on research initiatives to develop smart fabrics and flexible electronics. They are looking into wearable antennas for the military and developing carbon-based transistors, photonic devices, and high-frequency printed conformal antennas.
High production costs of smart fabrics is a major factor that could restrict market revenue growth throughout the forecast period. The fabric of the yarn must be heavily invested in, in order to incorporate sensors and microprocessors. These materials need expensive manufacturing procedures, and the absence of comprehensive standards and laws presents challenges for small producers hoping to expand and market new technologies. It is expected that concerns about data security and privacy related to smart fabrics are going to restrain revenue growth of the market.
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Most individuals have several mobile devices, including tablets and smartphones, and they are constantly searching for smaller devices that combine computing and monitoring functions into one unit. This offers a chance to create hybrid smart textiles with several functions that not only simplify users' lives but also integrate with a variety of wearable technology. For example, conductive materials have been integrated into garments by scientists from the National University of Singapore (NUS) to enable the dynamic simultaneous connection of many wearable devices. Devices can communicate data with thousands of times stronger signals compared with traditional technologies owing to the wireless body sensor network. They are expected to be utilized in medical procedures, health monitoring, and human-machine interactions, which is a recent trend in smart fabrics market.
Segment Insights
Type Insights:
On the basis of type, the global smart fabrics market is segmented into passive smart fabrics, active smart fabrics, and ultra-smart fabrics. The active smart fabrics segment accounted for the largest revenue share in 2022. Sports and fitness apparel, including running shoes, fitness bands, sports bras, and workout outfits, are included in the active smart fabrics segment. Smart fabrics have various advantages in this market, including enhanced efficiency, ease of use, and monitoring capabilities. Smart fabrics used in the active segment frequently incorporate technologies such as wicking moisture, temperature control, and compression. These characteristics contribute to the performance of sports by maintaining the wearer cool, dry, and comfortable throughout workouts. In addition, these fabrics can improve range of motion by increasing flexibility and movement.
Functionality Insights:
On the basis of functionality, the global smart fabrics market is segmented into sensing, energy harvesting, luminescence & aesthetics, thermoelectricity, and others. Among these, the sensing segment accounted for the largest revenue share in 2022. This is due to rising awareness regarding benefits such as most important quality of any smart clothing being the capacity for sensing. These fabrics contain embedded sensors that are capable of monitoring and detecting a wide range of physical characteristics, including moisture, temperature, pressure, and movement. These are employed in military, medical, and sports and fitness tracking applications. For instance, Google and Levi's Strauss have collaborated to create a ‘smart jacket’ with the help of the Jacquard digital technology platform. The jacket, which was introduced in 2019, features touch sensors built directly into the sleeves. It has conductive wires implanted in it and can connect via Bluetooth to a smartphone app that can monitor the motion.
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Regional Insights:
North America accounted for the largest revenue share in 2022. Revenue growth of the market in this region is as a result of increasing government efforts to advance smart fabric technology and robust demand from a variety of industries, including law enforcement, the military, and the civilian sector. For example, the United States Intelligence Advanced Research Projects Activity (IARPA) launched the SMART clothing sectors ePANTS project in July 2022, which uses location sensors, microphones, and cameras in clothes as surveillance technology. This invention has potential uses in the military, law enforcement, and civilian sectors. Members of the intelligence community should be able to easily gather environmental data without using their hands because to the flawless insertion of these gadgets into clothing. This development offers new possibilities for wearable devices in intelligence and surveillance, which has significant consequences for the smart fabric market in this country.
Asia Pacific market is expected to register the fastest revenue CAGR over the forecast period owing to the region's notable universities' increasing research and development efforts in smart fabrics to fuel advancements in the field of wearable technology. For instance, Chinese researchers at Fudan University unveiled text-displaying luminous cloth in March 2021. The material's integration of micro-LEDs allows it to display letters and basic patterns. This innovation may find use in communication, advertising, and fashion. Furthermore, the use of this technology in major industries such as healthcare and fashion allows for the monitoring of vital signs and the detection of colour, temperature, and form changes in reaction to the wearer's surroundings.
Scope of Research
| Report Details | Outcome |
| Market size in 2022 | USD 3.90 Billion |
| CAGR (2023–2032) | 24.5% |
| Revenue forecast to 2032 | USD 34.79 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019–2021 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, functionality, application, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Russia, Rest of Europe, China, India, Japan, South Korea, ASEAN Countries, Oceania, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | Adidas AG, AiQ Smart Cothing Inc., Clothing Plus Ltd., Dupont De Nemours Inc., Gentherm Incorporated, Google LLC, Interactive Wear AG, Ohmatex A/S, Schoellar Textil AG, Sensoria Inc., Texas Instruments Incorporated, Textronics, Vista Medical Ltd., Nike, Inc, Jabil Inc. |
| Customization scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global smart fabrics market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective smart fabrics.
Some major players included in the global smart fabrics market report are:
- Adidas AG
- AiQ Smart Cothing Inc.
- Clothing Plus Ltd.
- Dupont De Nemours Inc.
- Gentherm Incorporated
- Google LLC
- Interactive Wear AG
- Ohmatex A/S
- Schoellar Textil AG
- Sensoria Inc.
- Texas Instruments Incorporated
- Textronics
- Vista Medical Ltd.
- Nike, Inc
- Jabil Inc.
Strategic Development
- In February 2021, DuPont purchased Tex Tech's Core Matrix Technologies. This monolithic fabric structure can improve ballistic and fragment performance for law enforcement and military personnel while also reducing back face injuries. The National Institute of Justice (NIJ) becomes able to fulfil new criteria for greater durability with the most flexible and lightweight ballistic solutions due to this acquisition, which adds to the company's already extensive portfolio of life protection solutions. The new technology not only improves protection but also makes wearing bullet-resistant body armour more comfortable.
- In April 2023, scientists in the United Kingdom made a big breakthrough by creating the world's first smart fabric, capable of changing shape and colour in response to two different stimuli: electricity and heat. This innovative discovery opens up a wide range of opportunities in several fields, such as robotics and virtual reality. Stimuli-responsive materials (SRMs) used in the fabric respond to outside stimuli including light, temperature, magnetic forces, and electricity. The SRM changes in mechanical characteristics, molecular makeup, or structure in response to various inputs. This development opens the door to novel uses and improvements in responsive fabrics.
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For the purpose of this report, Emergen Research has segmented global smart fabrics market on the basis of type, functionality, application, and region:
- Type Outlook (Revenue, USD Billion; 2019-2032)
-
- Passive Smart Fabrics
- Active Fabrics
- Ultra-smart Fabrics
- Functionality Outlook (Revenue, USD Billion; 2019-2032)
-
- Sensing
- Energy Harvesting
- Luminescence & Aesthetics
- Thermoelectricity
- Others
- Application Outlook (Revenue, USD Billion; 2019-2032)
-
- Military and Defense
- Architecture
- Healthcare
- Sports and Fitness
- Fashion and Entertainment
- Automotive
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- ASEAN Countries
- Oceania
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- Israel
- Turkey
- South Africa
- Rest of MEA
- North America
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