Smart and Interactive Textiles Market to surpass US$ 6,455 Mn by end of 2028, Says Coherent Market Insights
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Market Dynamics
1. Increasing demand for sports and fitness applications is expected to drive growth of the global smart and interactive textiles market during the forecast period
Smart fabrics are extensively used in the manufacturing of sportswear as they provide numerous advantages over the conventional fabric. Smart fabrics can both perceive or communicate the environmental conditions and detect the wearer's condition. As a matter of fact, they can use heat, mechanical, chemical, magnetic, electrical, and other detection systems to detect them. For instance, in September 2021, researchers at the RiceUniversity of Houston, Texas, U.S. developed a smart shirt that can continuously monitor the wearer's heart rate.
2. Rapid growth of the wearable electronics industry is expected to propel the global smart and interactive textiles market growth over the forecast period
The wearable electronics industry has witnessed significant growth in the recent past. Wearable electronics such as smartwatches and wearable fitness trackers are being manufactured with smart textiles as they can provide real-time information regarding heart rate, blood oxygen level, body temperature, etc. With growing penetration of smartphones and high-speed internet connectivity, the adoption of smart and interactive textiles is expected to surge massively in the near future.
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Market Opportunity
1. The development of flexible electronics can present lucrative growth opportunities
Key companies are focused on research and development activities, in order to develop flexible electronics. Flexible electronics is a technology for assembling electronics circuits by mounting electronic devices on a flexible plastic substrate. For instance, in June 2021, Royole Corporation launched RoKit, the first open platform flexible electronics development kit across the U.S., Japan, Germany, China, and the U.K.
2. Development of multi-featured and hybrid smart textiles can provide major business opportunities
Smart hybrid textile is 100% cotton knitted fabric for apparel. These fabrics enable digital components such as batteries and light and electronics to be embedded into them. Therefore, these textiles can be used in the medical sector for patient monitoring as well as in the fashion and entertainment sector.
Market Trends
1. North America Trends
Among regions, North America is expected to witness significant growth in the global smart and interactive textiles market during the forecast period. This is owing to increasing product demand across transportation and healthcare industries in the region. Furthermore, growing disposable income high internet penetration is expected to boost the regional market growth over the forecast period.
2. Asia Pacific Trends
Asia Pacific is expected to exhibit lucrative growth in the global smart and interactive textiles market over the forecast period. This is owing to the large presence of small-scale smart textiles manufacturers and growing initiatives for the digitalization of the manufacturing sector in Japan and South Korea. Furthermore, the availability of raw materials at a competitive rate and low labor cost is expected to propel regional market growth in the near future.
Competitive Section
Key players involved in the global smart and interactive textiles market are E. I du Pont de Nemours and Company, Fibretronic Limited, Globe Manufacturing Company, LLC, Heapsylon LLC, Intelligent Clothing Ltd., Interactive Wear AG, Koninklijke Ten Cate NV, Milliken & Company, Outlast Technologies, Inc., Performance Fibers, Inc., and Schoeller Textil AG.
For instance, in May 2021, Nextiles launched a smart fabric that tracks biometric and biomechanic data via Bluetooth in real-time.
Global Smart and Interactive Textiles Market, By Region:
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