Yahoo Finance E-Textiles and Smart Clothing Market Size Rise at 32.35% CAGR by 2028, Value to Cross US$ 15019 Million - Says Facts & Factors
According to Facts and Factors, the Global E-Textiles and Smart Clothing Market size was valued at around USD 1725.27 million in 2021 and is estimated to grow about USD 15019 million by 2028, at a CAGR of approximately 32.35% between 2022 and 2028. The market players are listed in the report with their sales, revenues and strategies are Toray Industries, Cityzen Sciences, AiQ Smart Clothing, Owlet, Clothing Plus, Sensoria, Applycon, and others.
TOKYO, JAPAN, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “E-Textiles and Smart Clothing Market Size, Share, Growth Analysis Report By Industry (Healthcare, Mining, Sports & Fitness, Fashion & Entertainment, Military & Defense, and Others), By Textile Type (Passive Smart, Active Smart, and Ultra-smart), By Product Type (Lower Wear, Upper Wear, Inner Wear, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global E-Textiles and Smart Clothing Market size & share was valued at approximately USD 1725.27 million in 2021. The market is expected to grow above a CAGR of 32.35% and is anticipated to reach over USD 15019 million by 2028.”
The report analyses the market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global E-Textiles and Smart Clothing Market.
Market Overview:
E-textiles are clothing materials that are embedded with electrical items ranging from lights to sensors while smart clothing materials are fabrics that have undergone intense technological changes to impart them with higher and more advanced properties than their traditional counterparts. While smart fabrics are more specifically used for wearable items, e-textile can be used as space-decoration items as well.
Although the basic materials that are building blocks of e-textiles have been in existence for more than 10 decades, with recent technical growth and high adoption rate of electronics and electrical items amongst the population, manufacturers have been investing heavily in research and development to combine two of the most utilized items across the globe.
Some of the most widely accepted benefits of e-textiles and smart clothes include applications in monitoring the vitals of people who work around hazardous substances like nuclear and radioactive items, tracking the movement of soldiers for national security reasons, monitoring health vitals like heart rate, blood pressure to name a few amongst patients, data acquisition during sports training. Even though the cost of the fabrics is currently at the high-end rate, there is a growing consumer list owing to multiple factors associated with the use of smart clothes and e-textiles.
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Facts and Factors research methodology
Key Insights from Primary Research
As per the analysis, the E-Textiles and Smart Clothing Market is likely to grow above a CAGR of around 32.35% between 2022 and 2028.
The E-Textiles and Smart Clothing Market size was worth around US$ 1725.27 Million in 2021 and is estimated to hit approximately US$ 15019 Million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
Based on textile type segmentation, active smart was predicted to show maximum market share in the year 2021
Based on industry segmentation, sports & fitness was the leading revenue-generating industry in 2021.
On the basis of region, North America was the leading revenue generator in 2021
Market Dynamics:
Growth Drivers
Rising adoption of technology in textile to propel market growth
The global e-textiles and smart clothing market is projected to grow at a high CAGR owing to the wide applications of smart clothing in the fashion industry. With time and the use of technology, the new-age textiles and fabrics can now be incorporated into items that people wear during their day-to-day activities. For instance, in 2015, Ralph Lauren, a global fashion giant, invented a ‘smart shirt’, that was a range of men’s shirts embedded with sensors. It was mainly to be used during sports sessions and cost around USD 250. Many clothing items are made for protection purposes as well. In 2013, a group of Indian students came up with the invention of smart undergarments meant for protection against any unwanted physical attack or molestation activities. The garment could give electrical shock waves to the attackers.
Restraints
High cost of materials to restraint market growth
The high cost of materials may restrain the global market growth while the growing use of fabrics in the healthcare segment is expected to provide excellent opportunities. However, low customer awareness is anticipated to challenge the global market expansion.
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COVID-19 Impact Analysis
Covid-19 impacted the global market cap. Although there was considerable demand for smart clothing in the healthcare sector, the users were quite limited and the loss was the result of delays in collaboration and promotion activities, along with transport restrictions causing issues with the delivery of final goods and raw materials.
Competitive Players
The report contains qualitative and quantitative research on the global E-Textiles and Smart Clothing Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global E-Textiles and Smart Clothing Market include:
Toray Industries
Cityzen Sciences
AiQ Smart Clothing
Owlet
Clothing Plus
Sensoria
Applycon
Browse the full “E-Textiles and Smart Clothing Market Size, Share, Growth Analysis Report By Industry (Healthcare, Mining, Sports & Fitness, Fashion & Entertainment, Military & Defense, and Others), By Textile Type (Passive Smart, Active Smart, and Ultra-smart), By Product Type (Lower Wear, Upper Wear, Inner Wear, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/e-textiles-and-smart-clothing-market
E-Textiles and Smart Clothing Market: Segmentation Analysis
The global E-Textiles and Smart Clothing Market is segmented based on textile type, industry, product type, and region.
Based on textile type, the global market is segmented into passive smart, active smart, and ultra-smart. Active smart textiles are more in demand owing to their energy-transducing capabilities.
Based on industry, the global market segments are healthcare, mining, sports & fitness, fashion & entertainment, military & defense, and others. The global market was led by the sports & fitness segment in 2020 owing to exceptionally high revenues generated by industry giants like Adidas, Asics, and Under Armour catering to the needs of sportsmen. In 2021, Under Armour is estimated to have generated a revenue of USD 5.7 billion.
Based on product type, the global market is divided into lower wear, upper wear, inner wear, and others, where upper wear led the segmental growth owing to higher demand for smart clothing materials like shirts, jackets, and others. A Spacesuit, a brilliant example of e-textiles and smart clothing costs up to USD 150 Million, as per estimate.
Regional Analysis:
The global E-Textiles and Smart Clothing Market is projected to be led by North America with the highest market share owing to high product penetration and consumer awareness. The US is home to some of the most expensive and high-revenue fashion houses that are investing in smart fabric technology. The high standard of living and presence of multiple high-income groups is an added benefit for regional growth since the affordability rate in these regions is relatively higher than the developing economies. The regional revenue is also driven by the growing efforts of the general population toward adopting a healthy lifestyle aided by the use of smart wearables. The US military is one of the world’s most well-funded defense sectors, thus capable of investing in e-textiles to better protect their soldiers as well as borders. In 2021, the US government spent over USD 801 billion on military technology. In the Asia-Pacific, the growth may be driven by China as it is projected to soon overcome the United States economy.
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Recent Industry Developments:
In September 2022, Xiaomi launched a new smart clothes dryer capable of drying and hiding in the ceiling.
In December 2020, Samsung announced its plans to expand its product portfolio in India with the launch of smart clothing care solution.
Key questions answered in this report:
What is the market size and growth rate forecast for E-Textiles And Smart Clothing industry?
What is the main driving factors propelling the E-Textiles and Smart Clothing Market forward?
What are the leading companies in the E-Textiles And Smart Clothing Industry?
What segments does the E-Textiles and Smart Clothing Market cover?
How can I receive a free copy of the E-Textiles and Smart Clothing Market sample report and company profiles?
Report Scope:
Report Attribute | Details |
Market Size in 2021 | USD 1725.27 Million |
Projected Market Size in 2028 | USD 15019 Million |
CAGR Growth Rate | 32.35% CAGR |
Base Year | 2021 |
Forecast Years | 2022-2028 |
Key Market Players | Toray Industries, Cityzen Sciences, AiQ Smart Clothing, Owlet, Clothing Plus, Sensoria, Applycon, and others. |
Key Segment | By Industry, Textile Type, Product Type, and Region |
Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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The global E-Textiles and Smart Clothing Market is segmented as follows:
By Industry
Healthcare
Mining
Sports & Fitness
Fashion & Entertainment
Military & Defense
Others
By Textile Type
Passive Smart
Active Smart
Ultra-smart
By Product Type
Lower Wear
Upper Wear
Inner Wear
Others
By Region
North America
Europe
Asia Pacific
The Middle East & Africa
Latin America
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Key Offerings:
Market Size, Trends, & Forecast by Revenue | 2022−2028
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis by Industry, Textile Type, Product Type, and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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