Smart Textiles Market Size to Grow Steadily, Projected to Hit $20.75 Billion by 2029 at 28.9% CAGR

 The Business Research Company's report on the Smart Textiles Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.

What are the primary drivers fueling the growth of the smart textiles market in recent years?

Surging demand for smart wearable devices is expected to propel the growth of the smart textiles market going forward. Smart wearable devices are electronic devices powered by microprocessors that are integrated into clothing, worn as accessories, and implanted in the body to send and receive data via the internet. Smart wearable devices include smart jackets, smart glasses, smart shirts, smart jewelry, smart watches, and others. There is a surge in demand for smart wearable devices as they provide real-time information on users’ well-being and are the future of portable energy systems, high-tech sportswear, health monitoring systems, workwear, and military camouflages. For instance, according to Cisco Systems, a US-based networking hardware company, the number of connected wearable devices is expected to reach 1,105 million by 2022, up from 593 million in 2021. Therefore, the surging demand for smart wearable devices is promoting the growth of the smart textiles market.

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What is the projected market size of the smart textiles industry, and how is it expected to grow?

The smart textiles market size has grown exponentially in recent years. It will grow from $5.78 billion in 2024 to $7.52 billion in 2025 at a compound annual growth rate (CAGR) of 30.2%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased internet penetration, increasing millennial population, low-interest rate environment and urbanization.

The smart textiles market size is expected to see exponential growth in the next few years. It will grow to $20.76 billion in 2029 at a compound annual growth rate (CAGR) of 28.9%. The growth in the forecast period can be attributed to increasing e-commerce, increasing demand for sportswear, increasing adoption of 5G networks, rising population and internet of things (IoT). Major trends in the forecast period include focus smart fabric technology, wearable tele-rehabilitation platform, technology development, digital testing, product launch and innovative smart garments.

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Who are the key players driving competition in the smart textiles market?

Major companies operating in the smart textiles market include Koninklijke Ten Cate NV, Schoeller Textil AG, Eeonyx Corporation, Tex-Ray Industrial Co. Ltd, AiQ Smart Clothing Inc, Sensoria Inc, Noble Biomaterials, Interactive Wear AG, Mitsufuji Corporation, Xenoma Inc, Welspun India Ltd, Teijin Frontier Co. Ltd., GPOWERTECH CO. LTD, Nextiles, Fibrofill inc., Adidas AG, Clothing+, Ohmatex A/S, Siren, Centre for Process Innovation Limited (CPI), Hi-Tec Sports, Vaxess Technologies, FPC Industry, Nanowear, Express Embroidery, Stedfast Inc, Tricot Carol Inc, Lomar, Gulf Denim, Naseej Textile, Ultra Design Studios, Texel Inc., Smart textiles LLC

What key trends are expected to drive the smart lighting market during the forecast period?

Major companies in the smart textiles market are focused on product innovations and developing new technologies, such as blockchain technology, to enhance supply chain transparency, traceability, and security, ensuring the authenticity of materials used and improving the overall sustainability of textile production. Blockchain technology is a decentralized digital ledger that securely records transactions across multiple computers, making them immutable and transparent. For instance, in March 2023, a Switzerland-based textile manufacturer launched Re-Source. Re-Source textiles are crafted from a blend of bio-based materials, recycled polyester, and spandex. This innovative approach not only repurposes previously used materials but also contributes to reducing waste in the textile industry.

Which key geographies are driving the growth of the smart textiles market?

North America was the largest region in the smart textiles market in 2024. The regions covered in the smart textiles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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What are the key segments driving growth in the smart textiles market?

The smart textiles market covered in this report is segmented –

1) By Type: Passive, Active and Ultra-smart

2) By Function: Energy Harvesting, Sensing, Thermoelectricity, Luminescent and Other Functions

3) By End Users: Fashion and Entertainment, Sports and Fitness, Medical, Automotive, Protection and Military, Architecture and Other End Users

Subsegments:

1) By Passive: Fabrics with embedded sensors for monitoring, Moisture-wicking fabrics, UV protection textiles

2) By Active: Heating textiles, Textiles that change color or shape based on stimuli, Wearable technology with integrated electronics

3) By Ultra: Textiles with advanced functionalities, Fabrics that can communicate with other devices, Self-adaptive textiles that adjust properties based on environmental conditions

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How is the smart textiles market defined?

Smart textiles refer to smart systems that can recognize and process the wearer's condition as well as perceive or transmit the environmental conditions. They can be found using a variety of detection methods, including magnetic, mechanical, chemical, electrical, and thermal. Smart textiles can detect changes in the environment and adapt and respond automatically to mechanical, chemical, magnetic, electrical, and thermal manipulations to protect the wearer from environmental risks.

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