Smart Textiles Market Size, Share, Opportunities, And Trends By Type (Active Smart Textile, Passive Smart Textile, Others), By Function (Luminescent, Sensing, Energy Harvesting, Others), By Industry Verticals (Fashion And Entertainment, Sports And Fitness, Healthcare, Automotive, Military And Defense, Others), And By Geography - Forecasts From 2024 To 2029

The smart textiles market is anticipated to expand at a CAGR of 15.28% over the forecast period, increasing from US$747.413 million in 2022 to US$2,331.343 million by 2030.

Smart textiles are fabrics in which digital components like batteries and sensors are embedded to provide added value to the wearer. Growing investments and the proliferation of nanotechnology are significantly driving the smart textiles market growth. This is further supported by the declining cost of electronics and electric components.

The booming sports industry is one of the major factors that is augmenting the demand for smart textiles worldwide. Another factor that is spurring the demand for smart textiles is the continuous rise in the military budget of various countries. Rising disposable income and increasing awareness about these types of textiles are also inducing consumers to buy these for remote heartbeat monitoring and other body vitals as the prevalence of chronic diseases such as diabetes, cardiovascular disorders, and asthma is increasing.

As per Centers for Disease Control and Prevention (CDC) data of February 2024, in the USA, diabetes patients were about 38 million, and around 98 million Americans were accounted to have prediabetic condition. This is expected to lead to serious healthcare complications such as heart disease, blindness, and kidney failure.  In addition, companies are heavily invested in this market as they see huge growth and potential in these smart textile solutions and have also been engaged in developing new and innovative products. 

Booming sports industry

The growing global sports industry is one of the major drivers of the smart textiles market. With people becoming enthusiastic about various sports such as cricket, basketball, and football, sports agencies need proper performance tracking management to be a strong competitor on the field. As such, there has been a rise in the adoption of data-driven technologies and solutions, including wearable devices and smart textiles, thereby driving market growth. This growth is being complemented by higher allocation of government budgets toward sports. For example, the budget allocation of the Ministry of Youth Affairs and Sports was shown an inclination of over 11 percent from Rs. 466 crores during 2004-05 to Rs. 3,397.32 crores in the financial year of 2023-24. Meanwhile, the amounts allocated for the Department of Sports increased from the previous year's budgetary allocation of Rs. 2,254 crores to the Rs. 2,462.59 crores in 2023. Sports team owners are also funneling investments in the latest technologies and solutions to compete strongly with their opponents. For instance, to gain an advantage in the game, Premier League teams like Arsenal and Liverpool are utilizing missile-tracking technology to map and anticipate the movement of players.

Military and Defense is anticipated to hold significant market share in the coming years.

The growth of the smart textile market in the military and defense segment is driven by increasing government investments aimed at enhancing soldier safety and operational efficiency. These advanced textiles have features like temperature regulation, health monitoring, and integrated communication systems, addressing critical needs in modern warfare and defense strategies.

The increasing spending on the military and defense segment by several governments will positively influence market growth in the coming years. For instance, according to Eurostat, in 2022, defense expenditure was 1.3 % of GDP in the EU and 1.2 % of GDP in the euro area. In the 2013-2022 period, expenditure in both regions was relatively stable, hovering between 1.2 and 1.3% of GDP. As a share of total expenditure, defense spending was 2.6 % in 2022 in the EU and 2.5 % in the euro area.

Moreover, in 2022, Greece had the highest defense spending in the EU at 2.6% of GDP, followed by Latvia and Estonia at 2.2%, and Lithuania at 2.1%. Other significant contributors were France and Romania at 1.8%, Cyprus and Sweden at 1.6%, and Bulgaria and Slovakia at 1.5%. The lowest defense spending in the EU was recorded in Ireland at 0.2%, Malta and Luxembourg at 0.5%, and Austria at 0.6%. Among EU and EFTA countries, Iceland reported the lowest expenditure at 0.1% of GDP, showing its lack of a standing army.

Similarly, according to the Department of Defense, military and defense spending in the United States is growing rapidly, which is positively influencing the market for smart textiles in the projected period. The total budgetary resource for FY2024 was USD1.99 trillion, which is 16.3% of the FY 2024 U.S. federal budget. In 2023, the total budgetary resource for the defense sector was USD1.53 trillion.

The North American region is expected to hold substantial market share in the projected period.

The United States smart textile market will grow significantly in the coming years, driven by these factors and others. The sports and fitness industry is a major market driver, followed by the healthcare and military and defense industries. The market will also see new entrants and innovative products as technological advancements continue to drive the development of new and innovative smart textile products. Wearable technology is becoming increasingly popular among consumers in the United States, driving the demand for smart textiles. Smart textiles can be integrated into wearable devices, such as smartwatches, fitness trackers, and smart clothing, to provide additional functionality and features.

The demand for wearables is rising in the United States, impacting the market for smart textiles in the coming years. For instance, the sales of Apple Inc., one of the largest manufacturers of new and advanced wearable devices, increased significantly from 2021 to 2023. The sales for wearables, homes, and accessories were USD38,367 million in 2021, which increased to USD39,845 in 2023.

Furthermore, the United States military has been one of the early adopters of smart textiles, using them in uniforms and other equipment to monitor vital signs and track the location of personnel. The use of smart textiles in the military is growing, positively impacting the overall market. The U.S. Army has been developing smart textiles for use in soldier uniforms and equipment.

Moreover, the US smart textiles market is significantly affected by the demand for exercise and physical activities in the country. The percentage of adults who meet physical activity standards is an important factor in the US smart textiles market. This is because smart textiles can be used to monitor physical activity levels and provide feedback to individuals, encouraging them to stay active and reach their fitness goals. By using smart textiles to monitor physical activity, individuals can better understand their performance and progress, leading to more effective training regimens and a higher likelihood of meeting physical activity standards.

Segmentation

• By Type
  • Active Smart Textile
  • Passive Smart Textile
  • Others
• By Function
  • Luminescent
  • Sensing
  • Energy harvesting
  • Others
• By Industry Verticals
  • Fashion and entertainment
  • Sports and Fitness
  • Healthcare
  • Automotive
  • Military and Defense
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Thailand
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits for the Stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

2.3. Data Validation

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Supplier

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. SMART TEXTILES MARKET BY TYPE

5.1. Introduction

5.2. Active Smart Textile

5.3. Passive Smart Textile

5.4. Others

6. SMART TEXTILES MARKET BY FUNCTION

6.1. Introduction

6.2. Luminescent

6.3. Sensing

6.4. Energy harvesting

6.5. Others

7. SMART TEXTILES MARKET BY INDUSTRY VERTICALS

7.1. Introduction

7.2. Fashion and entertainment

7.3. Sports and Fitness

7.4. Healthcare

7.5. Automotive

7.6. Military and Defense

7.7. Others

8. SMART TEXTILES MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Type

8.2.2. By Function

8.2.3. By Industry Verticals

8.2.4. By Country

8.2.4.1. United States

8.2.4.2. Canada

8.2.4.3. Mexico

8.3. South America

8.3.1. By Type

8.3.2. By Function

8.3.3. By Industry Verticals

8.3.4. By Country

8.3.4.1. Brazil

8.3.4.2. Argentina

8.3.4.3. Others

8.4. Europe

8.4.1. By Type

8.4.2. By Function

8.4.3. By Industry Verticals

8.4.4. By Country

8.4.4.1. United Kingdom

8.4.4.2. Germany

8.4.4.3. France

8.4.4.4. Russia

8.4.4.5. Others

8.5. Middle East and Africa

8.5.1. By Type

8.5.2. By Function

8.5.3. By Industry Verticals

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.2. Israel

8.5.4.3. Others 

8.6. Asia Pacific

8.6.1. By Type

8.6.2. By Function

8.6.3. By Industry Verticals

8.6.4. By Country

8.6.4.1. Japan

8.6.4.2. China

8.6.4.3. India

8.6.4.4. South Korea

8.6.4.5. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Hexoskin(Carré Technologies Inc.)

10.2. Outlast Technologies LLC

10.3. DuPont

10.4. Interactive Wear 

10.5. Jabil Inc.

10.6. Schoeller Switzerland

10.7. Noble Biomaterials, Inc.

10.8. Sensoria Fitness

10.9. AIQ Smart Clothing Inc.

10.10. Textronics

Hexoskin(Carré Technologies Inc.)

Outlast Technologies LLC

DuPont

Interactive Wear 

Jabil Inc.

Schoeller Switzerland

Noble Biomaterials, Inc.

Sensoria Fitness

AIQ Smart Clothing Inc.

Textronics