Smart Textile Market, By Function (Energy Harvesting, Sensing, Thermoelectricity, Luminescent, and Others- Trends, Analysis and Forecast till 2030

COVINA, CALIFORNIA , UNITED STATES, April 13, 2023 /EINPresswire.com/ -- The smart textile market is expected to witness significant growth during the forecast period, with a compound annual growth rate (CAGR) of [insert CAGR percentage]. Smart textiles, also known as e-textiles or electronic textiles, are fabrics that are designed to incorporate electronic components, such as sensors, actuators, and microcontrollers, to offer enhanced functionality and performance. They are widely used in various end-use industries, such as healthcare, sports and fitness, military and defense, and fashion and entertainment.
The growth of the global smart textile market can be attributed to the increasing demand for wearable technology and the rising adoption of internet of things (IoT) devices. Smart textiles offer several benefits, such as real-time monitoring of vital signs, activity tracking, and injury prevention, which have led to their growing popularity in the healthcare and sports industries. Moreover, the growing trend towards personalized and connected devices is expected to drive the demand for smart textiles in the coming years.

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Key Highlights:
• On March 5, 2019, KARL MAYER Textilmaschinenfabrik GmbH launched smart technology platform. This technology platform helps to develop innovative new knit applications.
• In July 2018, Tommy Hilfiger, subsidiary of Murjani Group launched smart clothing that tracks movement of users.

Key Market Insights from the report:

The Global Smart Textile Market accounted for US$ 2.43 billion in 2020 and is estimated to be US$ 24.01 billion by 2030 and is anticipated to register a CAGR of 26.0%.over the forecast period. The market report has been segmented on the basis of function, application, and region.
• By function, the global smart textile market is segmented into energy harvesting, sensing, thermoelectricity, luminescent, and others.
• By application, the protection and military segment is accounted major share in the global smart textile market due to the integration of these products with electronic products offers a lightweight option against heavy batteries.
• By region, North America is expected to account for major share in terms of revenue in the global smart textile market over the forecast period. This can be attributed to increasing demand for smart textile in the transportation, defense, and healthcare in countries of the region. Asia Pacific smart textile market is expected to account for fastest growing rate in terms of revenue in the global smart textile market in the near future.

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Analyst View:

From an analyst's perspective, the global smart textile market presents significant growth opportunities in the near future. The increasing adoption of wearable technology and the rising demand for connected devices are expected to drive the growth of the market. Smart textiles offer a unique combination of functionality, comfort, and style, which makes them highly attractive to consumers and end-users.
Moreover, the growing demand for healthcare and fitness monitoring devices is expected to boost the consumption of smart textiles, as they offer real-time monitoring of vital signs, activity tracking, and injury prevention. The integration of sensors, actuators, and microcontrollers into fabrics has opened up new possibilities for medical and sports applications, which are expected to drive the demand for smart textiles in the coming years.

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The prominent player operating in the global smart textile market include:
• Adidas AG
• Ohmatex ApS
• Peratech Holdco Limited
• Infineon Technologies AG
• Jabil Circuit Inc.
• Fibertronic Ltd
• KARL MAYER Textilmaschinenfabrik GmbH
• Murjani Group
• Tektronix, Inc
• Sensoria Inc.

Smart Textile Market by trend:

One of the major trends in the global smart textile market is the increasing focus on sustainability and eco-friendliness. The fashion industry, in particular, is adopting sustainable practices and materials, and smart textiles are no exception. Several companies are developing smart textiles that are made from recycled materials, organic fabrics, and biodegradable components to reduce the environmental impact of their products.
Another trend in the market is the growing use of smart textiles in the automotive industry. Smart textiles are being integrated into car interiors to provide better comfort, safety, and entertainment. For example, smart fabrics that can detect and adjust to changes in body temperature are being used to create climate-controlled seats. Smart textiles are also being used to create airbags that can adjust their deployment based on the size and weight of the passenger.

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