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 % during the forecast period.
The Smart Textiles Market has been witnessing significant growth over the past years, mainly owing to the advancement and implementation of technologies like artificial intelligence (AI) and internet of things (IoT) in smart textiles and expanding wearable electronics which is expected to grow in the coming years.
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Implementation of advance technologies in smart textiles
The emergence of new technologies such as artificial intelligence (AI) and Internet of Things (IoT) has transformed the textile industry. New smart apparel is being manufactured integrated with AI, Bluetooth Low Energy (BLE), edge computing, and cloud data, which can monitor and communicate the wearer’s information, including blood pressure, heart rate, perspiration, and temperature. AI can access and collect historical and real-time operational data and provide insights, which can enhance the wearer’s efficiency. Defect detection, pattern inspection, and color matching are some of the common applications of AI in textile manufacturing. The use of AI has enabled the production of smart apparel that leverage IoT and electronic sensors to create an excellent user experience.
Development of multi featured and hybrid smart textile
People nowadays usually own multiple mobile devices, such as smartphones and tablets, and are further looking for compact devices, which can integrate all the computing and monitoring into a single device. This presents an opportunity for the development of multi-function and hybrid smart textiles that not only make users’ life easy but also bring in convergence with many wearable devices.
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Sensing function to have the largest market size of smart textiles market during the forecast period
In 2020, the sensing segment held the largest market size of the Smart Textiles Market and is expected to witness significant growth during the forecast period. Smart textiles find applications in the medical, sports, military, and aerospace sectors, where sensing and monitoring are already used and would only be made more efficient if integrated with textiles.
Key Players:
DuPont (US), Alphabet (US), Jabil (US), AIQ Smart Clothing (Taiwan), Sensoria (US), Gentherm (US), Interactive Wear (Germany), Outlast Technologies (US), Adidas (Germany), and Hexoskin (Canada) are among the key players operating in the Smart Textiles Market.
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