Smart Fabrics Market to Reach US$ 21.8 Bn by 2031: TMR Study

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Dec 12, 2022, 06:30 ET

Increase in usage of smart textiles in the fashion & entertainment industry is expected to create sizable business opportunities in the Smart Fabrics Market
Growth in the medical & healthcare industry of North America is estimated to help the regional market expand at a CAGR of 18.5% during the forecast period

WILMINGTON, Del., Dec. 12, 2022 /PRNewswire/ -- The Global Smart Fabrics Market is expected to advance at a CAGR of 19.6% during the forecast period from 2022 to 2031, finds a study by Transparency Market Research (TMR).

Intelligent fabrics are gaining impetus as they utilize sensors in order to regulate respiration, body temperature, pulse rate, sweating, and other physical activities. The application of these fabrics is increasing as a protection shield against environmental risks including radiation.

Smart and intelligent textiles find application in the manufacturing of sportswear. ThermoLite is one such lightweight synthetic insulation fabric used to produce sportswear specifically intended for outdoor sports. Hence, increase in participation in sport activities is projected to create lucrative avenues in the global industry during the forecast period.

Demand for cosmetotextiles fabrics is increasing in the sports & fitness and medical & healthcare sectors owing to their polymeric nature. These fabrics are known for releasing active ingredients when they are exposed to the external surface of a human body. Micro-encapsulation technology is utilized in the production of cosmetotextiles. With the help of this technology, smart fabrics can be incorporated with fragrances, antibacterial agents, skin softeners, drug delivery systems, and thermoregulation.

Smart fabric technology is increasingly adopted in the healthcare sector owing to varied advantages it offers. For instance, the use of conventional wound dressing methods can provide protection and prevent contamination of a damaged area. Conversely, smart fabrics are known for boosting the wound healing process. Increased R&D activities have been focusing on smart materials that can match the ability of skin to heal wounds. Such factors are anticipated to play an important role in market development in the next few years.

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Smart Fabrics Market: Key Findings

Smart fabrics allow for interaction with the surrounding environmental conditions. Moreover, these fabrics can be utilized for data transmission using lead wires embedded in sensors in order to establish communication through clothing and wearable devices. The popularity of smart materials is increasing in the fashion & entertainment industry owing to their ability to offer distinct features to garments. These materials alter the color, size, and shape of garments. Hence, the expansion of the fashion & entertainment industry is leading to profitable prospects in the global market.
Awareness regarding environmental issues is increasing among the global population. Moreover, companies are focusing on the development of daily-use products with improved lifespan. The concept of e-textiles is gaining impetus owing to varied advantages it offers, which include improved durability, customizable styles, and greater longevity. Hence, the adoption of e-textiles can help in reducing the quantity of textiles-generated wastes. Such factors are positively impacting the overall growth of the Smart Fabrics Market.

Smart Fabrics Market: Growth Drivers

Increase in adoption of smart fabrics in the healthcare industry is expected to create business opportunities in the market during the forecast period
Expansion of the sports & fitness industry is leading to revenue-generation opportunities in the market

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Regional Analysis

North America is expected to gain sizable share of the global market during the forecast period owing to the existence of key smart fabric companies and growth in the medical & healthcare industry in the region
The markets in Asia Pacific and Europe are estimated to expand at a notable pace during the forecast period owing to increase in spending power and expansion of end-use industries in the regions

Smart Fabrics Market: Key Players

Some of the key players profiled in the report are:

Alphabet Inc.
DuPont
AiQ Smart Clothing Inc.
Jabil Inc.
Gentherm Incorporated
Sensoria
Outlast Technologies
Interactive Wear
Hexoskin
Adidas

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Smart Fabrics Market Segmentation

Product

Ultra-smart Fabrics
Active Smart Fabrics
Passive Smart Fabrics

Function

Energy Harvesting
Sensing
Thermoelectricity
Luminescent

End-use

Sports & Fitness
Medical & Healthcare
Automotive & Transportation
Protection & Safety/Military
Fashion & Entertainment
Home & Architecture
Others

Regions Covered

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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