Smart Textile Market Growth Forecasts with USD 13.63 Billion by 2027 – The Insight Partners
Fashion Industry is Further Going to Aid in The Smart Textile Market’s Growth
NEW YORK, UNITED STATES, December 14, 2022 /EINPresswire.com/ -- The smart textile market was valued at US$ 1.59 billion in 2018 and is projected to reach US$ 13.63 billion by 2027; it is expected to grow at a CAGR of 26.1% during 2019-2027.
Designer brands and well-known clothing manufacturers are teaming up with major technological giants to create new wearable based on smart textiles. Research and development into clothes that illuminates or change colors in certain conditions, or a cloth displaying real-time text or emoticons associated with the user's mood or social activity is underway. New designers are now applying their creativity to take advantage of these possibilities to develop the fashion of the future that we might see very soon in fashion shows. Some of the use cases or pilot projects taken by major sports and fitness apparel manufacturers are as follows:-
• Nike is cooperating with Google to launch gym shoes, which could track real-time footprints by use of Google Earth.
• Moon Berlin, designer of luxury clothing, is currently exploring soft-circuits to enhance the visual style and use of smart fabrics.
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• Google has partnered with Levi’s in project Jacquard to create a collaborative innovation where both parties put in their expertise where the whole is greater than the sum of its parts.
• Aspinal of London has started to make handbags with built-in battery chargers.
Smart Textiles are designed and manufactured with the integration of smart technologies to offer fabric with different functionality. The smart textile market by type is segmented into passive, active, and ultra-smart textiles. These textiles are used across numerous applications and offer better communication with other devices, generate electricity, analyze and sense the stimuli, and protect the wearer from environmental hazards. Smart textiles and interactive fabrics are used for personal health management by integrating, validating, and use of smart clothing with the integration of sensors/ actuators, processing, energy sources, and communication used for personal applications such as emergency, protection/safety, and healthcare.
Strategic Insights:
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
2019: Ohmatex is awarded a large space contract with The European Space Agency (ESA). Under the project name Garments for Advanced Insights (GAIN), ESA signed a contract for 1.04 Mn EUR. The project aims at developing training tights along with integrated sensors and wearable computing. This would help the astronauts to train effectively.
2019: W. L. Gore & Associates proclaimed its upcoming generation in hood technology with the highly breathable GORE Particulate Hood GEN2.
2019: Gore Wear has announced the inauguration of a brand new limited-edition Gore x Romance Gore-Tex Shakedry Jacket fabricated in partnership with independent cycling apparel brand Romance.
2019: wear2wear is an innovative industrial partnership which is dedicated to high-quality and sustainable clothing. Schoeller Textil is to supply holistic textile portfolio for the workwear area.
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