Smart And Interactive Textiles Market 2021-2028 Industry Analysis and Global Forecast | E.I du Pont de Nemours and Company, Fibretronic Limited, Globe Manufacturing Company, LLC

Global Smart and Interactive Textiles Market, By Application (Transportation, Military & defense, Retail & consumer, Medical, and Industrial) and By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa), is projected to reach a valuation of US$ 3,242.4 million in 2021 and is anticipated to grow at a CAGR of 12.2% during the forecast period (2021-2028), as mentioned in a new report published by Coherent Market Insights.

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Overview

Electronic textiles are fabrics that contain digital components, such as light and electronics. These are called "smart textiles" because they offer new technologies that provide added value to the wearer. These innovations are starting to become popular in apparel, such as socks and shirts. Smart textiles have many potential uses, including monitoring a person's health and security. However, there are a few drawbacks to this technology. One major challenge is integrating electronics into clothing. For instance, a smart textile can be connected to the internet. The data from this device can monitor your heart rate or blood pressure. In addition, the textiles can also be used for gaming. It's possible to create a smart fabric that can be used for both entertainment and healthcare.

Competitive Landscape

Major companies contributing to the global smart and interactive textiles market include Interactive Wear AG, Intelligent Clothing Ltd., Globe Manufacturing Company, LLC, Outlast Technologies, Inc., Fibretronic Limited, E.I. du Pont de Nemours and Company, Schoeller Textil AG, Performance Fibers, Inc., Heapsylon LLC, Milliken & Company, and Koninklijke Ten Cate NV.

Drivers

Rapid advancements in the automotive sector amidst growing concerns about passenger safety are expected to augment the growth of the smart and interactive textiles market during the forecast period.

Moreover, growing adoption of nano-coated textiles that can be integrated with a variety of systems across the textile industry is expected to supplement the growth of the smart and interactive textiles market over the forecast period.

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The Epitome of the COVID-19 Debacle

The prevalence of the COVID-19 virus has been a hindrance to the global smart and interactive textiles market. The crisis-fueled travel bans and the cancellation/delay of import/export activities have halted operations in the textile industry. On the brighter side, the pandemic-led ecommerce boom has revitalized the future prospects of the market.

Key Takeaways

The smart and interactive textiles market is anticipated to grow at a CAGR of 12.2 % throughout the forecast period on the heels of a flourishing textile industry and growing demand for textiles in household applications. For instance, in August 2021, the India Brand Equity Foundation (IBEF) reported that the Indian textile industry is projected to reach US$ 23 billion by 2027.

In the cluster of regions, North America is foreseen to lead the global smart and interactive textiles market on account of growing demand for eco-friendly clothing in the fashion industry, compounded with an expanding textile sector.

Simmering under the top spot, the Asia Pacific region is another fertile land for the global smart and interactive textiles market in view of the rising import and export of textile products in the developing countries coupled with the presence of the largest textile producer, China.

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This release was published on openPR.