30-April-2019: The global smart textile market
size is expected to reach USD 5.55 billion by 2025, registering a CAGR of 30.4%
over the forecast period, according to a new report by Grand View Research,
Inc. Global demand for smart textile is mainly driven by increasing penetration
of smartphones and other high-tech or smart devices, such as iPods. Majority of
new smartphones and laptops are equipped with Bluetooth Low Energy (BLE)
technology. This enables the connection of sensor-based devices to the internet
through mobile phones. Smart textiles can be used to communicate information of
the wearer, such as physiological paramters including location, heart rate,
blood pressure, and temperature.
This data can then be used in
application areas, such as healthcare and sports & fitness. Moreover, the
product is also used by those suffering from late-stage dementia as it can help
refresh their sense of self. Therefore, wide usage of internet and growth in
wireless technology are expected to have a postitive impact on the market
growth. Rapidly expanding fashion & entertainment industry across the globe
is also expected to propel the market growth in coming years. Moreover, rising
product demand from the sports & fitness sector due to increasing awareness
about leading a healthy lifestyle will contribute to the growth.
Miniaturization of electronics
is expected to significantly fuel market growth further. Industry participants
are increasingly focusing on reducing form factors to facilitate integration,
to make sensors compatible with fabric and ensure optimum comfort and
wearability. Since smart textiles are used in fields, such as healthcare and
sports, it has become increasingly important to ensure that the user is not
hindered through the use of electronic fabric. The use of conventional cables
had been a major hindrance to product adoption. With the advent of smart
textiles, which eliminate the bundled filaments of conventional cables, higher
degree of flexibility can be ensured.
In
depth research report on Smart Fabrics Market
Further
key findings from the study suggest:
· Global
smart textile market is anticipated to witness a substantial growth owing to
increasing product demand from several applications, such as sports &
fitness
· The
defense & military segment is anticipated to account for the highest market
share by 2025, while sports & fitness segment will register the fastest
CAGR over the forecast years
· North
America accounted for over 47% of the overall share in 2018, thus, leading the
global market and is likely to maintain the dominance even during the estimated
period
· Key
companies in the market include Adidas AG; Ohmatex ApS; Peratech Ltd.; Infineon
Technologies; Clothing+; Fibertronic Ltd.; Weartech; and Tektronix, Inc.
· Funding
and investments by government organizations are estimated to help these firms
in product development and innovation
· Industry
stakeholders include a number of entities, such as system integrators and
Original Equipment Manufacturers (OEMs), as well as manufacturers of textiles
and electronic components
Grand View Research has
segmented the global smart textile market on the basis of product, end use,
functionality, and region:
Smart
Textiles Product Outlook (Revenue, USD Million, 2015 - 2025)
· Passive
· Active
· Very
Smart
Smart
Textiles End Use Outlook (Revenue, USD Million, 2015 - 2025)
· Fashion
& Entertainment
· Sports
& Fitness
· Medical
· Transportation
· Protection
& Military
· Architecture
Smart
Textiles Functionality Outlook (Revenue, USD Million, 2015 - 2025)
· Sensing
· Energy
Harvesting
· Luminescence
& Aesthetics
· Thermoelectricity
· Others
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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