Smart Fabrics Market Trends, Growth Opportunity and Statistics Forecast To 2027

Posted by RakshaGajbhiye on February 2nd, 2021

The Smart Fabrics market is set to attain a valuation of USD 9.75 billion by 2027, registering a CAGR of 30.9%, according to the latest report by Reports and Data. Smart Fabrics are technologically advanced fabrics used to improve aesthetic value and performance. The applications of Smart Fabrics are widespread in several industries, including sports & fitness, protection & military, medical & healthcare, fashion & entertainment, automotive & transportation, and home & architecture.

The manufacturing process of these types of fabrics is quite costly, and the lack of exhaustive standards or regulations are creating problems for small manufacturers who want to scale up and commercialize new technologies. Since the products are of high price, the customer segment is also becoming confined to rich people.

Key players in the market include:

AIQ Smart Clothing Inc, Adidas AG, Nike Inc, ThermoSoft International Corporation, Kolon Industries Inc, Interactive Wear AG, Ohmatex, Schoeller Textile AG, Sensoria Inc and OTEX Specialty Narrow Fabrics Inc.

Market Drivers 

The major driving force for the development of the Smart Fabrics market is the increasing demand from protection, sports and fitness, healthcare sector and military along with the growing wearable electronics production. Smart Fabrics now offer multi-vendor interoperability due to Bluetooth Low Energy (BLE) technology integration, and also help in regulating data if connected with internet. These technology-enabled factors with their growing popularity are driving the market growth. Large manufacturers are also looking for innovative manufacturing solutions so that the price can be reduced.

Reports and Data have segmented the global Smart Fabrics market on the basis of Source, Product, Application and region:

Type Outlook (Revenue, USD Billion; 2020-2027)

• Active Fabrics
• Passive Smart Fabrics
• Ultra-Smart Fabrics

Application Outlook (Revenue, USD Billion; 2020-2027)

• Sports & Fitness
• Medical & Healthcare
• Automotive & Transportation
• Protection & Military
• Fashion & Entertainment
• Home & Architecture
• Travel & Outdoor
• Others

Functionality Outlook (Revenue, USD Billion; 2020-2027)

• Sensing
• Energy Harvesting
• Thermoelectricity
• Luminescence & Aesthectics
• Others

Regional Analysis

According to 2019 reports, the North American region was the leading consumer in the Smart Fabrics market. The growing popularity of smart and technology-enabled applications and connected wearable products like smartwatches, fitness bands, and smart glasses in the U.S. is positively affecting the market over the forecast period. The average disposable income of people in this region is higher, which is providing a huge boost to the industry.

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