The Report Smart Fabrics Market Size,
Share & Trends Analysis Report By Product (Active, Very Smart), By End Use
(Defense & Military, Sports & Fitness), By Functionality (Sensing,
Energy Harvesting), And Segment Forecasts, 2019 - 2025
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.
Access
Research Report of Smart Textile Market @ https://www.grandviewresearch.com/industry-analysis/smart-textiles-industry
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
Smart Textiles Regional Outlook (Revenue, USD Million,
2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
