Smart
Textiles/Fabrics Market study is providing you with the up-to-date, actionable market
information and projections with the latest impact of the Covid 19 outbreak. It
offers all the requisite data to support tactical business decisions and come
up with strategic growth plans. This study also proposes a comprehensive
insight into the development policies and plans in addition to manufacturing
processes and cost structures.
The global Smart
Textiles/Fabrics Market is to witness a substantial growth due to the high-end
demand for sophisticated miniature electronic products with advanced sensing
& reacting capabilities. Development of smart textiles coupled with growing
demand for miniature electronic devices such as sensors and actuators in
various end-user industries is expected to drive the growth of smart textiles
industry over the forecast period.
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Development of Bluetooth
Low Energy (BLE) technology for connecting sensor-based devices to the Internet
is anticipated to favor the growth of smart textiles market in the upcoming
years. Smart textiles are gaining traction in various end-use application
sector such as sports & fitness industry and defense & military sector,
thereby offering lucrative growth prospects to market players in the past few
years. Globally, the smart textiles market is predicted to grow at a higher
CAGR in the forecast period, providing numerous opportunities for market
players to invest for research and development in the market.
Increasing demand for smart
textile from defense & military sector is credited to capability of smart
textiles to camouflage weaponry & armies from incoming enemy weapons. Smart
textiles also reduces impact of atmospheric changes, thus providing required
level of protection to electronic components. Swift decline in the cost of
miniature electronic components is projected to favor market growth over the
coming years. Use of smart textile offer cost efficient and less time consuming
production cycles, thereby further contributing to the overall industry demand.
However, complexity associated with seamless integration of technology into the
fabric and ease to user are major challenges to market growth.
The smart fabrics industry
is broadly categorized into major segments based on the application type such
as fashion & entertainment industry, sports & fitness sector, medical
sector, transportation industry, defense & military sector, and
architecture industry. The sports & fitness segment is growing rapidly in
the smart fabrics market with substantial revenue generation in the last few
years.
Growing popularity of smart
textiles in the sports & fitness segment is attributed to capability to
integrate with miniature electronics devices such as flexible fitness belts and
watches to monitor health and body vitals in real time. The defense &
military segment has also witnessed substantial growth owing to the ability of
smart textile to camouflage weaponry & armies from incoming enemy weapons
and their lightweight properties.
The smart textiles industry
is divided by region as North America, Europe, Asia-Pacific, Latin America and
Africa. North America has shown major growth in recent years owing to the rise
in the implementation of latest technologies, surge in number of research &
development activities in the region and existence of well-established
infrastructure.
Asia-Pacific region is
estimated to hold major share in the smart textiles market with massive growth
in forecast period. Countries such as India, China, Japan, South Korea and
Singapore are leading the Asia-Pacific market with strong economic growth,
rising defense expenditure, favorable government initiative to promote use of
smart fabrics, and significant investment by leading industry players
considering potential growth opportunities in the region. The key players in
the smart textiles/fabrics industry are OhmatexApS, Tektronix. Inc., Clothing
Plus Oy, Adidas AG, Infineon Technologies AG, Weartech, Fibertronic Ltd., and
Peratech Ltd.
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