The global smart textiles market reached a value of US$ 3.4 billion in 2019. Looking forward, the market is expected to reach a value of US$ 9.3 billion by 2025, exhibiting a CAGR of 18% during 2020-2025.
The emerging trend of miniaturization of electronics, along with the increasing integration of smart textiles with wearable devices, is one of the key factors driving the growth of the market.
In the healthcare and sports sectors, smart textiles are increasingly being used to monitor muscle vibrations, regulate body temperatures and provide protection from various hazards. Furthermore, several innovations in the electronics sector have facilitated the integration of smart textiles with compact electronic components, such as sensors, batteries and control consoles, in wearable and electronic devices.
Additionally, increasing product adoption in the defense sector is acting as another growth-inducing factor. For instance, smart textiles are combined with defense equipment for health monitoring, wired and wireless communications, superior mobility, sensing of heat and cold stresses and camouflage. This, along with technological advancements and extensive research and development (R&D) activities, is projected to drive the market further.
The competitive landscape of the industry has also been examined with some of the key players being Adidas AG, AiQ Smart Clothing Inc., Clothing+, Dupont De Nemours Inc., Gentherm Incorporated, Google LLC, Interactive Wear AG, International Fashion Machines Inc., Ohmatex A/S, Schoeller Textil AG, Sensoria Inc., Texas Instruments Incorporated, Textronics, Vista Medical Ltd., etc.
Key Questions Answered
How has the global smart textiles market performed so far and how will it perform in the coming years?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the functionality?
What is the breakup of the market based on the end-use sector?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global smart textiles market and who are the key players?
What is the degree of competition in the industry?
Key Topics Covered 1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction 4.1 Overview 4.2 Key Industry Trends