Dec 20, 2021   SOURCE: BusinessWire

Smart Textiles Markets: Passive, Active/Ultra-smart, Sensing, Energy Harvesting & Thermo-electricity, Luminescence & Aesthetics - Global Forecast to 2026 - ResearchAndMarkets.com

The "Global Smart Textiles Market with COVID-19 impact analysis by Type (Passive, Active/Ultra-smart), Function (Sensing, Energy Harvesting & Thermo-electricity, Luminescence & Aesthetics), Vertical, & Geography - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The smart textiles market is expected to grow from USD 2.3 billion in 2021 to USD 6.6 billion by 2026; it is expected to grow at a CAGR of 23.2%

The major driving factors for the growth of the smart textiles market include implementation of advanced technologies in smart textiles, miniaturization of electronic components and an expanding wearable industry, among others.

Energy harvesting and thermoelectricity function to have the highest CAGR during the forecast period

The science of energy harvesting materials has witnessed phenomenal progress in recent years. Technological advancements have enabled the development of new and distinctive molecular materials and devise artificial photosystems, and their applications are far more remote than the conventional solar cell technology. The basic principle of wearable devices and their way of hybridizing with PV cells includes the mechanism of thermoregulation in humans.

The growth in the use of wearable, mobile, and electronic textile-sensing devices has increased the need for keeping these devices powered continuously. Many smart clothing providers have proposed the integration of energy harvesting capabilities into clothing, e.g., solar energy harvesting, which is one of the most investigated avenues due to the abundance of solar energy.

Many start-ups and research institutions are actively involved in developing this technology.

Military and protection vertical to dominate the smart textile market during the forecast period.

In 2020, the military and protection segment accounted for the largest size of the smart textiles market and is also expected to hold its dominant position throughout the forecast period.

Smart textiles for military application offer various features such as advanced insulation properties and ballistics protection, as well as are made from waterproof fabric, while some are capable of health monitoring and equipped with GPS systems, sensors, and motion trackers.

APAC to grow at highest CAGR during the forecast period

The market in APAC is expected to grow during the forecast period. APAC region is witnessing increased demand for smart textiles attributed to the rapidly expanding healthcare industry. Smart textiles are used for continuously monitoring the patient's condition and receiving communication and positioning. Development of manufacturing hubs in countries like China and India will drive the demand in APAC region.

AiQ Smart Clothing (Taiwan), Jabil (US), DuPont (US), and Alphabet (US) are some of the key players operating in the smart textiles market.

Premium Insights

  • Growing Adoption of Smart Textiles in North America to Drive Market Growth
  • Active/Ultra-Smart Textiles Segment to Register Higher CAGR During Forecast Period
  • Sensing Segment Dominated Smart Textiles Market in 2020
  • Us and Military and Protection Segment to Hold Largest Shares of North American Smart Textiles Market by 2026
  • US to Hold Largest Share of Smart Textiles Market in 2021

Market Dynamics

Drivers

  • Expanding Wearable Electronics Industry
  • Miniaturization of Electronic Components
  • Implementation of Advanced Technologies in Smart Textiles
  • Proliferation of Low-Cost Smart Wireless Sensor Networks
  • Growth in Adoption of Smart Medical Textiles in COVID-19 Period

Restraints

  • Lack of Standards and Regulations

Opportunities

  • Development of Flexible Electronics
  • Development of Multi-Featured and Hybrid Smart Textiles

Challenges

  • Technical Difficulties Related to Integration of Electronics and Textiles
  • Product Protection and Thermal Consideration
  • Disruptions in Supply Chain due to COVID-19
  • High Cost of Smart Textiles and Products Developed Using Smart Textiles

Case Study Analysis

  • Smart Textile Bio-Sensor Development and Integration in Automotive Industry
  • Development of Fabric-Based Wearable System for Stroke Rehabilitation
  • Development of Fabric-Based Wearable System for Joint Pain Relief

Technology Analysis

  • Integrating Ai and IoT in Smart Textiles
  • Digital Textile Printing Ink
  • Biotextile-Based Smart Textiles for Healthcare Industry

Market Regulations and Standards

Companies Mentioned

  • Dupont De Nemours
  • Alphabet
  • Jabil
  • Aiq Smart Clothing
  • Sensoria
  • Gentherm
  • Interactive Wear
  • Outlast Technologies
  • Adidas
  • Hexoskin
  • Koninklijke Tencate
  • Clim8
  • Nike
  • Sensing Tex
  • Thermosoft International Corporation
  • Milliken & Company
  • Applycon
  • Peratech
  • Charnaud & Co
  • Footfalls & Heartbeats
  • Volt Smart Yarns
  • Samsung
  • Ambiotex
  • Microsoft
  • Lifesense Group

For more information about this report visit https://www.researchandmarkets.com/r/sw4zg3