According to the “Smart Fabrics Market—Growth, Trends, and Forecast 2020-2025” report by ResearchAndMarkets.com, the smart fabrics market was valued at USD 2.16 billion in 2019 and is expected to reach USD 5.93 billion by 2025, at a CAGR of 19.89 percent over the forecast period 2020-2025. The trend of using miniaturized electronics in the fabrics will drive the market.
Smart fabrics and interactive textiles activities include personal health management through integration, validation and use of smart clothing and other networked mobile devices. The activities also include projects targeting the integration of sensors/ actuators, energy sources, processing and communication within the clothes to enable personal applications, such as safety, protection, and emergency and health care.
The high cost related with the manufacturing of smart fabric, which eventually increases the cost of the final end-user product, is one of the major factors expected to restrain the growth of the market over the forecast period.
However, the growing demand for smart wearables and the increasing adoption of these smart wearable devices across various end-user industries are the major factors driving the growth of the smart fabric market.
North America is expected to hold a prominent share in the smart fabrics market, with the United States accounting for the major share in the region. Connected wearable products have been gaining significant traction in the region and have been around in various forms, such as fitness bands, smart watches and smart glasses.