Global Smart Textile Market 2020 – Huge Market Growth Till 2029: AIQ Smart Clothing Inc., Koninklijke Ten Cate bv, Texas Instruments Incorporated

Smart Textile Market Snapshot:

Advancement in smart textile material has significantly revolutionized the textile industry, enabling them to penetrate the field of high-tech applications and cover markets beyond the scope of the traditional textile industry. Smart textiles are fabrics integrated with computing power that provides additional functionalities, such as monitoring, communication, and stimulation. The growth of the wearable electronics market, debouching trends of miniaturization in modern electronics, and increasing demand for smart devices drive the market growth. Additionally, the advent of nanotechnology, RFID, and sensor technology in textile provide an impetus to the market growth. However, the high cost associated with these textiles might hinder the market growth.
The concept of smart textiles was introduced in the late 1980s; however, it has been gaining popularity in the last two decades due to technological advancement in the field of electronics. Several governmental organizations and leaders in the fashion industries such as European space agency (ESA), European Union (EU), the National Aeronautics and Space Administration (NASA), and Nike are heavily investing in R&D activities in smart textile. Additionally, the prominent players in the market are stimulating interdisciplinary R&D activities to unleash the potential of these textiles and expand their business reach in the untapped markets to gain a competitive edge.

The passive textile segment is projected to grow at a significant CAGR during the forecast period. They are the first generation of smart textiles, embedded with the sensor that can sense the stimuli and environmental conditions, which include cooling fabrics, UV protective fabrics, and anti-microbial fabrics. The passive textiles are largely used in outdoor apparel and medical wearables. Increasing spending power, the rising standard of living, and surging awareness regarding health and fitness drive the segment growth.

The active textile segment held the second-largest share in the smart textile market in 2019. These textiles have the potential to sense and respond to external stimuli and conditions. Active textiles are embedded with an actuator function that responds to the stimuli obtained by the sensor and extensively used across the healthcare and automotive industries for heating and seat sensing applications. However, the prices of these textiles are relatively high compared to the passive textile, which might hamper the market growth.

The advent of nanotechnology and RFID technology offers lucrative growth opportunities to the players in the smart textile markets to expand their product portfolio. The RFID tags and sensors are largely used in shirts, reinforced textile with nanomaterials, power generating shirts, and intelligent band-aids, further driving the market growth. Similarly, the Bluetooth low energy (BLE) technology aids in building wireless connections across various electronic devices, allowing them to send monitored information of the body to the smart devices.

North America dominated the smart textile market in 2019 and will continue the same during the forecast period. Increasing government spending in the military and defense sectors and high spending power drive the regional market growth. Moreover, obesity is one of the leading health issues faced by a huge population across the region. Thus, customers are inclining towards a fit and healthy lifestyle, buying products that will help them to stay fit and active.

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The Major Prominent Players Covered in this Report:
AIQ Smart Clothing Inc.
Koninklijke Ten Cate bv
Texas Instruments Incorporated
SchoellerTextil AG
Clothing Plus Ltd.
Du Pont De Nemours, Inc.
Gentherm Incorporated
Google Inc.
Textronics Design System Pvt.ltd
Interactive Wear AG
Outlast Technologies LLC
Sensoria, Inc.
ThermoSoft International Corporation
Nike, Inc.
Wearable Technologies Ltd
Peratech Holdco Limited

By Type, Passive textiles, Active textiles, Ultra smart textiles
By Function, Sensing, Energy harvesting, Luminescence & aesthetics, Thermo-electricity
By End-User, Healthcare, Military & defense, Sports & fitness, Fashion and entertainment, Automotive, Architecture

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Smart Textile in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Smart Textile market during the forecast period 2019-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Smart Textile and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Smart Textile. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Key Questions Answered in The Report:
What will the Smart Textile market growth rate?
What are the key factors driving the global Smart Textile market?
Who are the key manufacturers in the Smart Textile market space?
What are the market opportunities, market risk, and market overview of the Smart Textile market?
What are sales, revenue, and price analysis of top manufacturers of the Smart Textile market?
Who are the distributors, traders, and dealers of the Smart Textile market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Smart Textile Industry?
What are sales, revenue, and price analysis by regions of Smart Textile industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Key Smart Textile Market Trends:
- The report identifies, determines, and forecasts the Global Smart Textile Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Smart Textile Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Smart Textile Market.

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