Smart Textile Market Global Research and Forecast, 2018-2023

Smart Textile Market

Industry Size, Emerging Trends, Share, Competitive Lands and Forecast to 2023

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Smart Textile Market

Smart Textile Market 2018: Industry Size, Emerging Trends, Share, Competitive Landscape and Forecast to 2023 • Smart textiles are also known as smart clothing or smart garments. They are the fabrics, which have digital components such as light, battery, smart chips, and other small electronic devices fitted into it. Such fabrics are innovatively designed and engineered to meet the requirements of major end user such as military, sports, textile, automotive, and healthcare. Based on the functioning of the fabric, there are two major types of the smart textiles namely: performance enhancing and aesthetic. The performance enhancing is a type of smart textiles, which is mainly used in athletic, sports and military applications. They control body temperature and weight, wind drag and external vibrations to improve the performance of an athlete.

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Smart Textile Market Market Segmentation On the basis of the type, the market is divided into passive smart textile, active smart textile, and very smart textile.

Among these segments, the passive smart textile is holding the largest share of the market on account of lower cost as compared to its counterpart and relative lesser complex operations.

By the application, the market is categorized into sensing, architecture, medical, energy harvest, thermo-electricity, and others. The sensing segment is growing at a robust growth rate during the review period. This growth trend is primarily attributed to the increasing demand for the protective gears with health tracking devices. Also, the sensing is the most significant characteristic of the smart textiles.

Based on the end use industry, the global smart textile market is classified into military & defense, building & construction, automotive, textile, medical, sports, and others. The military & defense segment is the largest consumer of smart textiles, which is holding over 30% share of the market. This is majorly attributed to the continuously increasing global threat driving the huge investment in defense expenditure by the major countries such as India, China, the U.S., and Russia.

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Smart Textile Market Major Players in this Research: Key Players for Smart Textile Market: • Wear AG • Google Inc. • AiQ Smart Clothing • GENTHERM • Clothing+ • Textronics, Inc. • Outlast Technologies LLC • Sensoria Inc. • Thermosoft International Corporation • Ohmatex ApS (Denmark)

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Smart Textile Market Regional Market Analysis The global smart textile market is geographically spanned across five major regions: North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. Among them, Asia Pacific is projected to grow at the highest CAGR due to the surging demand from automotive, defense and sports industry, along with the building & construction industry. The major market in this region are India, China, South Korea, and Japan.

North America is the second most significant region, in terms of the growth rate, in the global smart textile market.

The U.S. is the largest contributor to the regional market on account of considerable presence of well-established and leading end use industries such as aerospace & defense, and marine.

Europe is also an important region in the global smart textile market. The leading markets in this region are the U.K., Germany, France, and Italy, wherein the demand for smart textiles is mainly fetched by the automobile industry.

In the recent years, Latin America is witnessing a rapid industrialization and pacifying political and economic conditions in Brazil and Colombia. Lastly, the Middle East & Africa is also anticipated to gain a momentum on the backdrop of increasing demand from construction and automotive industry.

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