Press release
Impact of COVID-19 on Smart Textiles Market Rapidly Growing Dynamics with Current Outlook 2030 - Google, AiQ Smart Clothing, Interactive Wear AG, Schoeller Textil AG
Smart textiles are the fabrics embedded with digital components that offer added value to the user. The digital things in fabrics comprise a light with small computers and battery, which enable physical flexibility, easy tracking in case of medical emergency, and which can be easily adapted to the current physical changes in surroundings, giving optimal comfort to the wearer.Market Industry Reports (MIR) has published a new report titled "Smart Textile Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2030." According to the report, the global smart textile market is estimated to account for over US$ 2,154.84 million by 2019. The market is anticipated to grow at a CAGR of 24.84% from 2019 to 2030.
Top Players Included:
Some of the prominent players in the smart textile market include Google, AiQ Smart Clothing, Interactive Wear AG, Schoeller Textil AG, Sensoria Inc, OTEX Specialty Narrow Fabrics, Noble Biomaterials, Inc., Ohmatex A/S, Bally Ribbon Mills, Noble Biomaterials, Inc. and WearTech Therapeutics, Inc., among others.
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Technological Growth
Smart textiles are majorly categorized into three types - passive smart, active smart, and ultra-smart. Passive smart textiles can only sense, active smart textiles can sense & respond and ultra-smart textiles can sense, react, and adapt according to environmental conditions. New product launches and technological advancements in smart textile market is driving market growth. Moreover, increasing investment for research & development activities and collaborations between textiles based companies & technology providers are some of the other factors propelling market growth.
The demand for smart textile is also rising due to its expanding base of applications in end-use industries such as fashion & entertainment, medical, defense & military, automotive, and sports. Moreover, the growing integration of wearable technologies, rising disposable income & standard of living, increasing adoption of smart textiles for medical purposes, and growing popularity of smart textiles among youngsters are some of the other factors driving market growth.
Regional Segmentation:
North America holds the largest market share and is expected to continue its dominance for a few years. Asia Pacific is expected to grow at the highest CAGR during the forecast period (2019-2030) owing to high demand for smart textiles and wearable electronics from China, India, Japan, and South Korea.
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Table of Contents
1. INTRODUCTION
1. Market Definition
2. Market Classification
3. Geographic Scope
4. Years Considered for the Study: Historical Years - 2016 & 2017; Base Year - 2018; Forecast Years - 2019 to 2030
5. Currency Used
2. RESEARCH METHODOLOGY
1. Research Framework
2. Data Collection Technique
3. Data Sources
1. Secondary Sources
2. Primary Sources
4. Market Estimation Methodology
1. Bottom Up Approach
2. Top Down Approach
5. Data Validation and Triangulation
1. Market Forecast Model
2. Limitations/Assumptions of the Study
3. ABSTRACT OF THE STUDY
4. MARKET DYNAMICS ASSESSMENT
1. Overview
2. Drivers
3. Barriers/Challenges
4. Opportunities
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