Global Smart Fabrics Market to Reach $20.6 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Smart Fabrics estimated at US$4.5 Billion in the year 2022, is projected to reach a revised size of US$20.6 Billion by 2030, growing at a CAGR of 21.1% over the analysis period 2022-2030.
Sensing, one of the segments analyzed in the report, is projected to record a 21.7% CAGR and reach US$8.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Energy Harvesting & Thermoelectricity segment is readjusted to a revised 23.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 20.1% CAGR
The Smart Fabrics market in the U.S. is estimated at US$1.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$3.5 Billion by the year 2030 trailing a CAGR of 20.1% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.9% and 17.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 14.3% CAGR.
Looking Ahead to 2023
With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers.
Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year
Key Metrics
Report AttributeDetailsNo. of Pages288Forecast Period2022 - 2030Estimated Market Value (USD) in 2022$4.5 BillionForecasted Market Value (USD) by 2030$20.6 BillionCompound Annual Growth Rate20.9%Regions CoveredGlobal
Key Topics Covered:
MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Smart Fabrics: When Technology Meets Textile!
Recent Market Activity
Smart Fabrics - A Nascent Yet High Growth Market
Growth Drivers and Market Restraints - In a Nutshell
R&D Initiatives, Technology Innovations and Material Advancements: Playing a Critical Role in Expansion of Smart Fabrics Market
Promising Future Ahead for the Smart Textiles Market
Expanding Applications Bode Well for Smart Fabrics Market
Smart T-Shirts & Jackets: Promising Segments in Smart Fabrics Market
Developed Markets Hold Ground in Smart Fabrics Market, Developing Economies Positioned for Long-term Growth
High Cost, Compatibility & Power Supply Issues, and Privacy Concerns: Major Concerns to Address for the Smart Fabrics Market
Integration of Sensors into Garments - A Major Challenge for Smart Fabric Makers
Smart Fabrics - Global Key Competitors Percentage Market Share in 2022 (E)
Impact of Covid-19 and a Looming Global Recession
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
MARKET TRENDS & DRIVERS
Industry Evolves from Passive to Active to Ultra-Smart Textiles
Smart Clothing Transforming the Wearable Technology Products Market
Smart Fabrics - the Next Big Wave of Wearables
Microencapsulation & Nanotechnology: Harbingers of Future Growth
Military - A Lucrative End-Use Sector
Increased R&D Initiatives in Smart Textiles for Military Applications
Healthcare - The Fastest Growing Application Market for Smart Textiles
Smart Textile Applications in Healthcare Industry
Smart Clothing Gains Acceptance in Neonatal Monitoring
Wearable Biomedical Sensors - A Potential Market Segment
Smart Sutures
Smart Socks Grow in Demand
A Glance at Few Startups in the Smart Medical Textiles Market
Telemonitoring for the Elderly: Opportunities for Smart Textiles Market
Aging Population: Opportunity for Telemonitoring
Smart Fabrics for Transportation Market: The Major End-Use Segment
Sports & Fitness - A Significant Revenue Contributor
Smart Inner Wear & Socks - Unique Wearables for Sports & Fitness Market
New Smart Wearables for Ensure Better Workouts
Improving Performance of Athletes in Professional Sports
Smart Clothing with Thermal Changes
Growing Use in the Fashion Industry Drives Smart Textiles Market
An Insight into Select Smart Fashion Brands
Ambient Computing Key to Fashion Technology
Demand for Smart Textiles in Space Application Grows
Energy-Producing Textiles Offer High Growth Potential
Smart Workwear - Addressing Needs of Employees in Hazardous Environments
Light Conducting Fibers Hold Enormous Potential
Self-Cleaning Textiles: The Focus of Innovations in Smart Fabrics Market
RMIT University Researchers Develop Self-Cleaning Nano-Enhanced Textiles
Smart Fabric Designs: Focus on Simplifying Interactions
Actuation and Response Applications Determine Market for SFITs
Product Innovations Stimulate Growth in Smart Fabrics Market
A Review of Select Product Developments in the Smart Fabric Market
A Look at Other Recent Launches/Developments in the Smart Fabric Market
Rigorous R&D Investments Spearhead Growth
Multidisciplinary Approach to a Complex R&D Structure
Public Funding for Smart Textiles R&D
A Review of Select Smart Fabric Research Initiatives
FOCUS ON SELECT PLAYERS
AiQ Smart Clothing, Inc. (Taiwan)
Clothing+ (Finland)
DowDuPont, Inc. (USA)
EXO2 (USA)
Globe Manufacturing Company, LLC (USA)
Hexoskin (Canada)
Intelligent Clothing Ltd. (UK)
Interactive Wear AG (Germany)
International Fashion Machines, Inc. (USA)
Marktek, Inc. (USA)
Milliken & Company (USA)
Noble Biomaterials, Inc. (USA)
Ohmatex ApS (Denmark)
Outlast Technologies LLC (USA)
Schoeller Textiles AG (Switzerland)
Sensoria, Inc. (USA)
Smartex s.r.l (Italy)
Toray Industries, Inc. (Japan)