Home » Smart Fabrics for Sports and Fitness Market Trends, Growth Rate, Consumption By Regional Data And Forecast 2022-2031

Smart Fabrics for Sports and Fitness Market Trends, Growth Rate, Consumption By Regional Data And Forecast 2022-2031

by SDKIResearch

The smart fabrics for sports and fitness market was valued at USD 0.68 billion in 2020 and expected to reach USD 2.85 billion by 2031 and grow at a CAGR of 25.7% over the forecast period (2022 – 2031). The recent developments in the field of microfiber technology have enabled the production of textiles with advanced features, like breathability, waterproofing, etc. These additional abilities to react to heat or light gives them a significant edge in adapting to external environmental stimuli over traditional fabrics.

Key Highlights

  • The recent technological advancements in the microelectronics industry have resulted in the development of components scaled down to Nano-scale. These advancements are expected to boost the growth of smart fabrics for sports and fitness market over the forecast period.
  • Major companies have been researching in smart fabrics for new possibilities to incorporate fabrics or textiles with emerging technologies, to improve the lifestyle of the consumer.
  • In recent times, with the emergence of smart sensor devices, there has been a growing demand for sophisticated wearable smart gadgets. Noticeably, there has been a rapid growth of low-cost smart wireless storage networks, which has been driving the market.

Key Market Trends

Miniaturisation of Electronic Components is Expected to Drive the Market

  • With the ongoing technological advancements in nano-technology and micro-fabrication technologies, miniaturization has been enabled in various electronic components, making components, like smart sensors, small and cost-effective, which is driving the smart fabrics for sports and fitness.
  • The 3-D printing production processes and production of nano-materials by nano dimension solutions have the potential to resolve any production challenges and will also help create an efficient production technology for smart fabrics.
  • There are several firms that manufacture numerous wearable technology gadgets, from Fitbit’s fitness trackers (bands) and Nike’s FuelBand to other major Sports brand watches, to meet the Sports and Fitness requirements.
  • The emerging new segment of wearable devices, the E-textile or smart fabrics segment, has changed the way these devices are being worn now. Smart fabrics incorporate biometric sensors, minicomputers, circuits, or metallic yarns for different functionality. These fabrics can be customized accordingly to meet almost all the requirements of a sports athlete or any fitness buff.

North America to be the Prime Market for the Adoption of Smart Fabrics in Sports and Fitness Segment

  • The increasing research and development activities and the adoption of modernized electronic wearables are the major factors that are supporting the growth of smart fabrics in this region. Due to the presence of several major players and the increasing technological advancements, the market is expected to witness strong growth in the next few years.
  • The United States is expected to witness strong growth in smart fabrics, in the sports and fitness market. The features in these fabrics are modified as per the user’s needs, especially for the sports and fitness end-users.
  • The fabric is water resistant up to a certain limit and can also measure the chemical composition of the user s body, continuously monitor heart rate, and also keep a track of the physical activity as well as the local environment.
  • Further, various sports organizations in the United States have significantly invested in the advancement and development of smart fabrics that are to be incorporated with lightweight sensors, color-changing materials, and other features.

Competitive Landscape

The smart fabrics for sports and fitness market is highly competitive, due to the presence of many small and large players. The market is moderately concentrated. The major players are Nike Inc., AiQ, Adidas AG, Smartex SRL, Koninklijke Ten Cate NV, among others.

  • March 2018 – Koninklijke Ten Cate NV announced that it reached an agreement with the integrated chemicals and materials group, Toray Industries Inc., on the acquisition of TenCate Advanced Composites, a Dutch carbon fiber composite material manufacturer. This acquisition is expected to bring together complementary product offerings in high-performance composites, serving the aerospace, space, and communications and high-performance industrial markets.

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