Market Size of Smart Fabrics in Fashion and Entertainment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 31.29 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Smart Fabrics in Fashion & Entertainment Market Analysis
The smart fabrics in fashion and entertainment market is estimated to record a CAGR of 31.29% over the forecast period. The smart fabrics market in the fashion and entertainment industry is primarily driven by innovation by designers to develop new and pleasing outfits integrated with useful technical architecture capable of transmitting the information.
- The ever-increasing use of electronic devices in our day-to-day life is driving the smart fabrics market. The ease of use of smart fabrics and the integration of electronic devices within textiles make it an integrated device to be used as a simple fabric, which is further contributing to the growth of the market.
- For instance, a particular variety of smart fabric developed at the University of Washington is being used for jackets that can store invisible passcodes and open the doors to apartments or offices. Rapid developments in nanotechnology, polymer development, and low-power-consuming wireless sensors have transformed the market landscape.
- The convergence of the internet of things, 3D printing, and nanotechnologies is creating enormous opportunities for the fashion and entertainment industry. With the increasing number of products integrating sensors to generate and respond to data and perform a range of various functions, the market is expected to grow further.
- The high cost of implementation is restraining the market's growth as the business incurs huge initial investments, restraining many companies from tapping into the market.
- Due to the COVID-19 outbreak, the market suffered and could not experience substantial growth, as the manufacturing of smart fabrics requires a high degree of automation and advancements in textile processing techniques (such as electronic controlling system, computer-aided design, automated inspection, automated material handling devices, numerical control machine tool, statistical process control, production planning/inventory management software, and pick/place robots).
