The smart textiles market is projected to develop at a compound annual growth rate (CAGR) of 25 per cent from 2024 to 2032, from its 2023 valuation of US $ 3.6 billion to US $ 26.1 billion, says a report from market research company S&S Insider.
The market for smart textiles is being pushed by changes in customer demands and technology advancements. Smart textiles, which incorporate electronics into textiles to offer interactive capabilities, are finding increasing use in the fashion, healthcare, and fitness industries.
Innovations like health-monitoring textiles are the result of investments in wearable technology and sustainability, which have been backed by organisations like the US Department of Energy and European companies.
These developments are anticipated to transform wellness and healthcare, and by 2025, the wearable Smart Textiles market is forecast to expand by 10 per cent yearly. Governments and private businesses’ targeted commercialisation initiatives position the market for rapid expansion.
With advancements like wearable sensors for ongoing vital sign monitoring, health condition tracking, and smart bandages that promote wound healing, the healthcare industry is among the biggest users of smart textiles. Adoption has been accelerated by the growing need for individualised healthcare solutions.
Activewear that tracks physical activity, muscular tension, and hydration levels is incorporating smart textiles into items like shirts and sneakers. Fitness aficionados are gravitating towards these cutting-edge textiles due to the combination of growing health consciousness and technical improvements.
