New York, Feb. 23, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Smart Textiles Global Market Report 2022" - https://www.reportlinker.com/p06233740/?utm_source=GNW
, Noble Biomaterials, Koninklijke Ten Cate BV, DiPole Materials, Thermosoft International Corporation and Chronolife.
The global smart textiles market is expected to grow from $2.52 billion in 2021 to $3.39 billion in 2022 at a compound annual growth rate (CAGR) of 34.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $9.30 billion in 2026 at a CAGR of 28.7%.
The smart textiles market consists of sales of smart textile products by entities (organizations, sole traders, and partnerships) that can sense, detect, and respond to the changes in environmental conditions.Smart textiles, also known as electronic textiles, are textile materials and systems with a digital component integrated into them which allows them to interact with their surroundings.
Smart textiles can detect changes in the environment and adapt and respond automatically to mechanical, chemical, magnetic, electrical, and thermal manipulations to protect the wearer from environmental risks.
The main types of products in smart textiles are passive, active, and ultra-smart.Passive smart textiles are first-generation electronics textiles materials or systems that contain only sensors that can only sense the stimuli and changes in environmental conditions.
The different functions include energy harvesting, sensing, thermoelectricity, luminescent, and others and are used in various areas such as fashion and entertainment, sports and fitness, medical, transportation, protection and military, and architecture.
North America was the largest region in the smart textiles market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Surging demand for smart wearable devices is expected to propel the growth of the smart textiles market going forward.Smart wearable devices are electronic devices powered by microprocessors that are integrated into clothing, worn as accessories, and implanted in the body to send and receive data via the internet.
Smart wearable devices include smart jackets, smart glasses, smart shirts, smart jewelry, smartwatches, and others.There is a surge in demand for smart wearable devices as they provide real-time information of users’ well-being and are the future for portable energy systems, high-tech sportswear, health monitoring systems, workwear, and military camouflages.
For instance, according to Cisco Systems, a US-based networking hardware company, the number of connected wearable devices is expected to reach 1,105 million by 2022, up from 593 million in 2021. Therefore, the surging demand for smart wearable devices is promoting the growth of the smart textiles market.
Technological advancements are shaping the smart textiles market.Major companies operating in the smart textiles sector are focused on developing advanced technological solutions for smart textiles to strengthen their position in the market.
For instance, in December 2019, Chronolife, a France-based digital health company launched Nexkin, a washable smart T-shirt that monitors six physiological markers and allows for risk reduction, prevention, and remote monitoring. This involves the combination of AI-powered real-time analytics, biometric scanners, and wearable sensors to record abdominal and thoracic breathing, electrocardiogram, body temperature, pulmonary impedance, and physical activity.
In February 2021, DuPont, a US-based technology company acquired Tex Tech’s Core Matrix Technology for an undisclosed amount.DuPont’s purchase of this globally recognized and unique Core Matrix Technology expands the firm’s existing extensive portfolio of life-saving solutions, allowing the most adaptable, lightweight ballistic solutions to meet new National Institute of Justice (NIJ) standards for increased durability.
Tex Tech Industries is a US-based company that provides smart textiles.
The countries covered in the smart textiles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06233740/?utm_source=GNW
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