The Smart Textiles Market is expected to grow from USD 2.3 billion in 2021 to USD 6.6 billion by 2026; it is expected to grow at a CAGR of 23.2 % during the forecast period.
The smart textiles market has been witnessing significant growth over the past years, mainly owing to the advancement and implementation of technologies like artificial intelligence (AI) and internet of things (IoT) in smart textiles and expanding wearable electronics which is expected to grow in the coming years.
Implementation of advance technologies in smart textiles
The emergence of new technologies such as artificial intelligence (AI) and Internet of Things (IoT) has transformed the textile industry. New smart apparel is being manufactured integrated with AI, Bluetooth Low Energy (BLE), edge computing, and cloud data, which can monitor and communicate the wearer’s information, including blood pressure, heart rate, perspiration, and temperature. AI can access and collect historical and real-time operational data and provide insights, which can enhance the wearer’s efficiency. Defect detection, pattern inspection, and color matching are some of the common applications of AI in textile manufacturing. The use of AI has enabled the production of smart apparel that leverage IoT and electronic sensors to create an excellent user experience.
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Development of multi featured and hybrid smart textile
People nowadays usually own multiple mobile devices, such as smartphones and tablets, and are further looking for compact devices, which can integrate all the computing and monitoring into a single device. This presents an opportunity for the development of multi-function and hybrid smart textiles that not only make users’ life easy but also bring in convergence with many wearable devices. For instance, researchers from the National University of Singapore (NUS) have incorporated conductive textiles into clothing to dynamically connect several wearable devices at once. This wireless body sensor network allows devices to transmit data with 1,000 times stronger signals than conventional technologies. They are expected to be used in human-machine interfaces, health monitoring, and medical interventions.
Major players in the Smart Textiles Market have primarily adopted acquisition and partnership strategy to strengthen their position in the market.
DuPont (US), Alphabet (US), Jabil (US), AIQ Smart Clothing (Taiwan), Sensoria (US), Gentherm (US), Interactive Wear (Germany), Outlast Technologies (US), Adidas (Germany), and Hexoskin (Canada) are among the key players operating in the smart textiles market.
In July 2021, DuPont has acquired Laird Performance Materials, a leading company engaged in offering high-performance electromagnetic shielding and thermal management solutions. DuPont has acquired Laird Performance Materials, a leading company engaged in offering high-performance electromagnetic shielding and thermal management solutions.
In January 2019, Interactive Wear joined the i-compression project under which it is working with research and industrial partners to develop and demonstrate a sensor-driven TENS-application (Transcutaneous Electrical Nerve Stimulation) to help people suffering from chronic venous insufficiency. The aim of the project is to develop a compression stocking with an integrated actuator and motion sensor technology.
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DuPont (US) and Alphabet (US) are among the Major Players in the Smart Textiles Market.
DuPont (US) was ranked first and held the largest share in the Smart Textiles Market in 2020. The company’s leading position in this market can be attributed to its strong smart textiles’ product portfolio. DuPont helps transform industries by applying diverse science and expertise to deliver essential innovations in key markets including electronics, transportation, building and construction, and healthcare. DuPont’s worldwide operations are managed through global businesses, which are currently reported in five reportable segments: Electronics & Imaging; Nutrition & Biosciences; Transportation & Industrial; Safety & Construction; and Non-core. Its smart fabric products are offered through its Safety and Construction segment. The segment provides innovative engineered products and integrated systems to various industries.
Alphabet (US) was ranked second in terms of market share in the Smart Textiles Market in 2020. Alphabet is a multinational conglomerate, which was created through the restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries. Google is a global technology leader that generates revenue by monetizing the information accrued over the internet and through advertising. Google provides its smart textiles through its project named Jacquard. Jacquard is the first full-scale digital technology platform created for smart apparel, footwear, and other everyday essentials. It offers products such as backpack, and jackets in collaboration with Levi’s, Samsonite, and Adidas.
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