Published Date : 08 Nov 2022
The global e-textiles market size was exhibited at USD 3.54 billion in 2022 and is expected to hit around USD 13.96 billion by 2030, poised to grow at a CAGR of 8.5% from 2022 to 2030.
The e-textiles are gaining rapid traction across various sectors such as healthcare, military, and sports & fitness. The various benefits such as location tracking, wireless connectivity, motion tracking, and monitoring health conditions is boosting the demand for e-textiles. For instance, the e-textiles were used by the coaches to monitor the fatigue levels of the players, heartbeat, load on the body, and distances covered by the players in the FIFA World Cup 2018. Therefore, rising demand for e-textile technology in the sports and fitness industry is expected to exponentially drive the growth of the global e-textiles market. Furthermore, the military and the healthcare sectors are increasingly adopting e-textiles for monitoring the wearers’ bodies and health conditions. The rising research and developmental activities and the miniaturization of electronic components is encouraging the development of the e-textiles industry across the globe. The revolution in wearable technology owing to the rising penetration of digital technologies and its increasing adoption across various industry verticals is the most prominent driver of the global e-textiles market. Furthermore, the various developmental strategies adopted by the key market players is influencing market growth. For instance, in July 2021, DuPont announced the acquisition of Laird Performance Material, a prominent supplier of electromagnetic shielding and a provider of thermal management solutions. This would strengthen the position of DuPont in the global e-textiles market.
E-textiles Market Report Scope
|Market Size In 2022||USD 3.54 Billion|
|Market Size By 2030||USD 13.96 Billion|
|Growth Rate from 2022 to 2030||
CAGR of 8.5%
|Forecast Period||2022 to 2030|
Driver: Rising adoption of smart technologies and nanotechnologies
The rising adoption of smart technologies like e-textiles across various end-use applications such as fashion, military, medical, and sports & fitness is fostering the growth of the e-textiles market. Further, the miniaturization of electronic components has encouraged the development of e-textiles that enable the generation of electric energy using sunlight and body temperature. These innovative technologies are expected to drive the demand for e-textiles for their numerous functionalities.
Restraint: Lack of proper standards and regulations
The production of e-textiles may have potential health and environmental risks as it uses various electronic components. Furthermore, the activities such as dyeing, bleaching, printing, and mercerizing in the textile industry discharge toxic elements that can contaminate, air, water, and soil. Therefore, a lack of regulations and standards may restrict the growth of the global e-textiles market.
Opportunities: The rising popularity of hybrid and multi-functionality e-textiles
The various technologies used in the e-textiles such as AI, IoT, cloud computing, photovoltaic cells, and various others that can offer features like energy generation, health conditions tracking, and location tracking offer numerous functions and benefits to the users, which is expected to boost the market growth in the upcoming future.
Challenges: High cost of the e-textiles
The high cost of e-textiles may restrict the adoption of e-textiles. The lack of adequate capital and infrastructure in developing and underdeveloped economies may restrict its adoption in the military, healthcare, and sports sectors. This is a major challenge to the market players that limits their penetration.
North America dominated the global e-textiles market, garnering a market share of around 38% in 2020. The rising investments of the government in the adoption of compact and innovative digital technologies in the military and healthcare sectors have significantly augmented the demand for e-textiles in the US. The presence of advanced healthcare infrastructure and rapidly growing smart hospitals in the region is driving the demand for e-textiles for monitoring patients’ blood pressure, heartbeat, and body temperature. Moreover, the presence of several key players like Alphabet, DuPont, Jabil, and Hex Oskin in the region are promoting e-textiles, which is expected to further drive the growth of the market in North America.
Asia Pacific is estimated to be the fastest-growing market during the forecast period. The sports, healthcare, and military sectors are expected to augment the demand for e-textiles significantly. The governments of nations like China and India are increasing their expenditure for strengthening their military power, which is expected to contribute significantly towards the growth of the market. Moreover, the rising investments in the development of smart hospitals coupled with the growing prevalence of diseases is boosting the demand for efficient and continuous monitoring devices that can monitor the health conditions of the patients. These factors are expected to drive market growth in the forthcoming years.
Some of the Prominent Players
Segments Covered in the Report
Buy this Research Report@ https://www.precedenceresearch.com/checkout/1406
You can place an order or ask any questions, please feel free to contact at firstname.lastname@example.org | +1 9197 992 333