NEW YORK, Jan. 11, 2022
Increasing use of smart fabrics in biomedical engineering, medical, and military, advancements in smart fabrics technology, and rising investment to accelerate research on smart fabrics are some key factors expected to drive market growth
NEW YORK, Jan. 11, 2022 /PRNewswire/ -- Reports and Data has published its latest report titled "Smart Fabrics Market By Type (Active, Passive, and Ultra-Smart), By Application (Sports & Fitness, Protection & Military, and Healthcare), By Functionality (Sensing and Energy Harvesting), and By Region Forecast to 2028."
According to Reports and Data, the global smart fabrics market size was USD 1.46 billion in 2020 and is expected to reach USD 10.64 billion in 2028 and register a revenue CAGR of 28.3% during the forecast period, 2021-2028.
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Drivers, Restraints, & Opportunities
Smart fabrics are equipped with technology that provides added utility to the wearer and are made from wide range of materials ranging from cotton, nylon, and polyester to advanced Kevlar. Smart fabrics have electrical conductivity which ensures the technology can be powered and the clothes are washable. Smart fabrics can sense various environmental conditions and have been a new area of research with a broad range of potential applications in the field of medicine, military, and biomedical engineering. Increasing investment to accelerate production of smart fabrics, rapid advancements in sensor technology, and rising adoption of smart fabrics in healthcare and defense sector are some key factors expected to drive market revenue growth over the forecast period.
Smart fabrics can interact with the body and generate a way to potentially sense the physiology of the wearer and respond accordingly. The technology relies on the integration of sensors in clothes that are worn daily and continuously monitors the wearer and his/her environment. Smart fabrics include materials and structures that respond to chemical, mechanical, electrical, optical, and magnetic stimuli based on their applications. Smart fabrics have digital components such as battery, sensor, an LED, or an electronic chip embedded in them. Smart fabrics aim to provide added value to with regards to safety, comfort, or performance. Smart fabrics can be divided into two main categories; aesthetics and performance enhancement. Aesthetic smart fabrics are textiles that use technology for fashion and design applications such as addition of multisensorial experience through lighting and sounds such as fabrics that can change color with body heat. Smart fabrics that focus on enhancing performance help human functions such as controlling body temperature, perspiration, breathing, and heart rate, among others. Smart fabrics are designed to regulate body temperature, control muscle vibration, and reduce wind resistance. Increasing use of smart fabrics in sportswear to boost athletic performance is another key factor expected to contribute to market growth over the forecast period.
Smart fabrics used in healthcare sector can analyze heart rate and changes in heart rate and can effectively determine the presence of bradycardia or tachycardia. These smart fabrics can provide heat to the body during treatment of conditions such as arthritis, muscle pain and spasm, or joint stiffness and this has further expanded their applications in medical applications and is expected to further fuel revenue growth of the market going ahead. However, high costs associated with smart fabrics, lack of standardized regulations and policies, and concerns regarding sensors and battery technology are some key factors expected to hamper market growth to a certain extent over the forecast period.
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COVID-19 Impact Analysis
Passive Segment Account for Largest Revenue Share:
Passive segment is expected to account for largest revenue share over the forecast period attributable to improved functionalities and affordability of passive smart fabrics as compared to other fabrics and wide range of capabilities. Passive smart fabrics are first generation smart fabrics that can efficiently assess and evaluate external conditions and include UV protective clothing and conductive fibers, among others.
Sports & Fitness Segment to Register Significant Revenue Growth:
Sports & fitness segment is expected to register significant revenue growth over the forecast period owing to increasing use of smart fabrics to improve athletic performance, growing focus on health and fitness and rising demand for wearable devices, and effective monitoring of vital signs during performance.
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North America to Lead in Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share over the forecast period attributable to increasing adoption of wearable devices, rising popularity of smart applications, growing use of smart fabrics across healthcare and military sectors, increasing penetration of low-cost smart wireless networks, and growing focus on health and fitness.
Asia Pacific Market Revenue to Expand Significantly:
Asia Pacific is expected to register robust revenue CAGR during the forecast period attributable to increasing demand for smart fabrics from healthcare sector in APAC countries, growing adoption of smart wearable electronic devices, rapid integration of smart fabrics technology in various end-use industries, and rising investment in research and development activities to accelerate production of smart fabrics and intelligent textiles.
Major Companies in the Market Include:
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For the purpose of this report, Reports and Data has segmented global smart fabrics market based on type, application, functionality, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
Functionality Outlook (Revenue, USD Billion; 2018-2028)
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Regional Outlook (Revenue, USD Billion; 2018-2028)
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