As per the current market research conducted by the CMI Team, the global Novel Smart Textile Market size is expected to record a CAGR of 18.1% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 1.7 Billion. By 2032, the valuation is anticipated to reach USD 7.4 Billion.
Novel Smart Textile Market: Growth Factors and Dynamics
- Rising Consumer Interest in Wearable Technology: The increasing consumer enthusiasm for wearable technology is a significant catalyst propelling the smart textile market’s growth. Consumers are displaying a heightened inclination towards products like smart clothing, capable of monitoring fitness metrics, providing personalized feedback, and enhancing the overall user experience.
- Healthcare and Medical Applications: Smart textiles are finding extensive applications in healthcare and medicine. Wearable health monitoring devices, such as smart shirts and patches, can monitor vital signs and transmit data to healthcare providers. These textiles can also assist in remote patient monitoring and early disease detection.
- Sustainability and Environmental Concerns: The fashion industry is embracing smart textiles to address sustainability concerns. Smart textiles can incorporate renewable energy sources, like solar panels, and help reduce the carbon footprint of wearable technology. Additionally, by integrating biodegradable materials, smart textiles can contribute to eco-friendly fashion options.
- Integration with the Internet of Things (IoT): Smart textiles play a vital role in the Internet of Things (IoT) ecosystem, enabling seamless integration with a wide range of connected devices and networks. This integration facilitates real-time data exchange and enhances control in applications such as home automation, smart clothing, and industrial monitoring.
- Technological Breakthroughs: Innovations in materials science, nanotechnology, and electronics have paved the way for the creation of smart textiles with advanced capabilities. These textiles can integrate sensors, actuators, and communication systems, opening up applications across a spectrum of industries, including healthcare, sports, and fashion.
- Military and Defense Applications: Smart textiles are being adopted in military and defense applications to enhance soldier performance and safety. These textiles can include built-in communication systems, environmental sensors, and camouflage capabilities, improving situational awareness and protection.
- Industrial and Safety Applications: Smart textiles are being adopted in industrial settings for safety and productivity improvements. They can include sensors that monitor environmental conditions, worker health, and equipment status. For example, workers in hazardous environments can benefit from smart protective clothing that provides real-time data on potential risks and alerts in case of emergencies.
Novel Smart Textile Market: Partnership and Acquisitions
- In 2021, DuPont acquired Tex Tech’s Core Matrix Technology, an innovation enhancing protection and comfort in ballistic solutions for military and law enforcement. This strengthens DuPont’s life protection portfolio, meeting NIJ standards and improving wearer comfort.
- In 2021, Isko, a Turkish denim manufacturer, has teamed up with MIT’s CSAIL to research wearable tech and smart fabrics. This partnership integrates Isko into a diverse network of 26 sectors, ranging from telecommunications to healthcare, fostering innovation in the textile industry.
- In 2019, Interactive Wear participated in the i-compression project, collaborating with research and industry partners to create a sensor-driven TENS application for chronic venous insufficiency. The project’s goal is to design a compression stocking with integrated actuators and motion sensor technology
List of the prominent players in the Novel Smart Textile Market:
- Adidas Group
- Nike Inc.
- Google (Project Jacquard)
- Under Armour Inc.
- Samsung Electronics
- OMSignal
- DuPont
- Sensil? by NILIT
- Carrington Textiles
- AiQ Smart Clothing
- I. du Pont de Nemours and Company (DuPont)
- Textronics Inc.
- Schoeller Textil AG
- Ohmatex
- GENTHERM
- Others
The Novel Smart Textile Market is segmented as follows:
- Conductive Materials
- Phase-Change Materials (PCMs)
- Shape Memory Alloys (SMAs)
- Fiber Optics
- Nanomaterials
- Others
- Passive Smart Textiles
- Active Smart Textiles
- Ultra-Smart Textiles
- Sensing
- Energy Harvesting
- Luminescent
- Thermal Regulation
- Others
- Healthcare and Medical
- Military and Defense
- Sports and Fitness
- Fashion and Entertainment
- Automotive and Aerospace
