Smart Textiles Market Quadruples by 2023; with a ~ 28.41 % of Whooping CAGR | Adidas AG, Nike Inc., and O’Neill, Eleksen, Auxetix, Fibretronic Limited, Exo2, Clothing+, ThermoSoft International, Peratech Ltd., and Gentherm

Crystal Market Research adds Global Smart Textiles Market Research report which offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Smart Textiles market around the globe.

Smart Textiles Market - Industry Trend Analysis:

In 2014, the global smart textiles market was evaluated around USD 0.72 billion and is expected to reach approximately USD 6.80 billion by 2023 while registering itself at a compound annual growth rate (CAGR) of 28.41% over the forecast period. The growing popularity of advanced gadgets with diverse technologically advanced operations such as reacting and sensing to the surrounding is expected to boost the demand. The declining costs of manufacturing of fabrics and electronic components together with the electronics miniaturization are projected to fuel the market during the forecast years. Elements like sensor units, actuators, and controllers are integrated into these fabrics for appropriate performance. The smart textiles are utilized by the military professional for safety and protection purpose and by the customer as a clothing entity. The expansion was primarily driven by fitness & sports application. These products have a massive growth potential due to their applicability over several sections like automotive, entertainment, and defense which consecutively expected to drive the industry growth over the forecast years. The increase in demand can also be assigned to the advent of advanced fibers and conductive materials that are utilized to produce these fibers. Nanotechnology has assisted in the formation of these intelligent textiles at a microscopic level as well as in the army equipment & uniforms development.

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Smart Textiles Market - Competitive Outlook and Trend Analysis:

Key market participants like Adidas AG, Nike Inc., and O’Neill are anticipated to hold a considerable market share due to their capabilities in performance clothing. Other major market players involve Eleksen, Auxetix, Fibretronic Limited, Exo2, Clothing+, ThermoSoft International, Peratech Ltd., and Gentherm. The market contains an extensive number of shareholders that involve system integrators, textile manufacturers, Original Equipment Manufacturers (OEM), together with R&D organizations. System integrators like Fibretronix, Interactive Wear, Ohmatex, Clothing+ and Polar are studied to be major integrators involved in the integration with textile structures, encapsulation of electronics, and industrial & electronics design.

Smart Textiles Market - Product Outlook and Trend Analysis:

The passive smart fabrics segment includes wearable clothes which can sense the user as well as surrounding atmosphere and account the same. This section ruled the global market during 2015 since it has less complicated functionalities and it has low cost than the other segments. The very smart textile section has the capability to adapt, react, and sense their performance to the specified conditions as well as follows the artificial intelligence principle.

The Global Smart Textiles Market is segmented as follows –

Smart Textiles Market - By Product:

Passive smart textile
Active smart textile
Very smart textile

Smart Textiles Market - Application Outlook and Trend Analysis:

During the forecast period, the sports & fitness application section is projected to experience a major growth with a compound annual growth rate of 35%. Smart fabrics acquire the capability to react to stimulations produced from magnetic, thermal, mechanical, chemical, and electrical sources. With the abovementioned capabilities, it can function in incorporation with advanced electronics devices like fitness watches and belts to observe body and health vitals concurrently. These products are utilized in applications like fashion &entertainment, architecture, transportation, military & security, and medical. In 2015, usage of these fabrics in military and defense segment reported for more than 25.5% of the overall market revenue. The rising global population has produced the demand for enhanced medical and healthcare facilities which are directing the application of smart fabrics for rapid patient recovery. Also, the requirement for improvement of athletic performance is expected to impact the research & development activities in this market favorably.

Smart Textiles Market - By Application:

Fashion and entertainment
Sports & fitness
Medical
Transportation
Defense and military
Architecture

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Smart Textiles Market - Table of Contents:

1. Introduction
2. Executive Summary
3. Market Overview
4. Smart Textiles Market, By Product
5. Smart Textiles Market, By Application
6. Smart Textiles Market, By Region
7. Company Profiles
8. Global Smart Textiles Market Competition, by Manufacturer

Smart Textiles Market - By Region:

North America - U.S, Canada, Mexico
Europe - Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific - Japan, China, Australia, India, South Korea, Rest of Asia Pacific
Rest of the World - Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others

Smart Textiles Market - Regional Outlook and Trend Analysis:

North American market is anticipated to embrace a major global industry share over the projected period. This region reported over 45.5% of the global market during 2015. This can be assigned to the rising requirement for these products in the healthcare and transportation industry. The low cost of labor and raw material in Asian countries, like India, China, and Japan has changed it into a production hub for these technologies. This has contributed to the reduction in the total smart fabrics production in the European regional market. Therefore, major vendors from the Asia Pacific regional market are tapping opportunities to insert such technologically sophisticated products as an element of their product portfolio.

What our report offers:

- Market share assessments for the regional and country level segments

- Market share analysis of the top industry players

- Strategic recommendations for the new entrants

- Strategic recommendations in key business segments based on the market estimations

- Competitive landscaping mapping the key common trends.

- Company profiling with detailed strategies, financials, and recent developments

- Supply chain trends mapping the latest technological advancements

Discuss our expert team: https://www.crystalmarketresearch.com/send-an-enquiry/CG02592 .

As the report further, it explains developing plans and policies, making processes, cost structures of Smart Textiles market as well as the leading players. It also concentrates on the aspects like company profile, product images, supply chain relationship, import/export details of Smart Textiles market, market statistics of Smart Textiles market, upcoming development plans, market gains, contact details, consumption ratio. Ultimately, the report includes an in-depth analysis of sub-segments, market dynamics, feasibility study, key strategies used by leading players, market share study and growth prospects of the industry. The report also evaluates the growth established by the market during the forecast period and research conclusions are offered.

Continued…

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