The global Smart Textile Market Size is expected to reach a value of $5.1 billion by 2022, rising at a CAGR of 26.7% during the forecast period.
Smart textiles are fabrics manufactured with technologies imbibed to provide superior functionality to the wearer. The smart textiles have the capability to sense and react to stimuli or external conditions such as from thermal, mechanical, chemical, magnetic, and other sources. The demand for various smart textile products has significantly increased as there has been a renewed interest for such textile from industries such as military and defense and healthcare. With new and innovative trends, the demand for smart textiles would grow, both in the developed and developing countries. Better standards of living, higher disposable incomes, growing awareness about safety and environmentalism, advancements in the medical technology, growing automotive sector, and increased spending on healthcare are the factors responsible for the growth in these regions. Advancements in the textile industry, namely nanotechnology, biosensors, and miniaturized electronics have brought about major changes in the market dynamics of the global smart textile market.
Based on Industry, the market is segmented into Military & Defense, Healthcare, Sports & Fitness, Entertainment, Automotive, and Others. Based on Function, the market is segmented into Sensing, Energy Harvesting, Thermoelectricity, Luminescent and Others. Based on region, Smart Textile market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Taiwan, Australia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in the global Smart Textile market in 2015. Asia-Pacific would witness promising CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders of the Smart Textile market. Key companies profiled in the report include E.I Du Pont De Nemours and Company, Google Inc., Adidas AG, AIQ Smart Clothing Inc., Clothing Plus Ltd., Interactive Wear AG, Outlast Technologies LLC and Scholler Textil AG.
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