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The smart textiles market is expected to grow from USD 2.3 billion in 2021 to USD 6.6 billion by 2026, says a report by Marketsandmarkets. The major driving factors include implementation of advanced technologies in smart textiles, miniaturization of electronic components and expanding wearable industry.
Energy harvesting and thermoelectricity function will have the highest CAGR during the forecast period, according to the report. The science of energy harvesting materials has witnessed phenomenal progress in recent years. The growth in the use of wearable, mobile and electronic textile-sensing devices has increased the need for keeping these devices powered continuously. Many smart clothing providers have proposed the integration of energy harvesting capabilities into clothing (such as solar energy harvesting), which is one of the most investigated avenues due to the abundance of solar energy. Many start-ups and research institutions are actively involved in developing this technology.
In 2020, the military and protection segment accounted for the largest size of the smart textiles market and is expected to hold a dominant position. Smart textiles for military application offer various features such as advanced insulation properties and ballistics protection. Many of these are made from waterproof fabric, while some are capable of health monitoring and equipped with GPS systems, sensors and motion trackers.
Smart textiles are also contributing to the rapidly expanding healthcare industry, as they are used for continuously monitoring a patient’s condition. Development of manufacturing hubs in countries like China and India will drive the demand.