The smart fabrics for transportation market was valued at USD 352.16 million in 2018 and is expected to reach a value of USD 791.55 million by 2024, at a CAGR of 14.23%, during the forecast period of (2019 - 2024).
- The technological advancement in the electronics industry has changed the way we do and perceive things. The internet of things has connected everything. Smart fabrics are an important part of this technological advancement and will play a very crucial role in the future with applications in the Transportation industry.
- With the miniaturization of electronic components coupled with the emergence of advanced polymers is driving the market forward. The use of fabrics in automobiles is not only restricted to the upholstery but they are also used in floor mats, the interior ceiling, seat belt webbings, interior door panels, steering wheel, and gear shift covers.
- Fabrics are not only for the outward surfaces which are visible to the eye. These fabrics are also used in making insulation for thermal control inside the vehicle. The versatile nature of these fabrics has made them a key component of automobiles, which is driving the market forward.
- With the development of fabrics with antistatic properties, they offer tremendous stain proof capabilities and the ability of fabrics to interact with the environment, which helps in the regulation of temperature. These properties of smart fabrics have enabled their use in automotive vehicles.
Scope of the Report
Smart fabrics are defined as textiles that can sense and react to external environmental conditions or stimuli, from mechanical, thermal, magnetic, chemical, electrical, or other sources. They are able to sense and respond to external conditions (stimuli) in a predetermined way.
Key Market Trends
Mobility Management to Witness Significant Growth
- Mobility management in transportation comprises of all the systems that allow a driver to reach their destination safely and quickly, with optimal fuel consumption by deploying smart fabrics into the vehicle, which can enhance the vehicle features.
- With the help of these smart fabric-sensing systems installed in the interior cabins, autonomous vehicles can access real-time traffic information through their onboard navigation systems and re-route the vehicle to a better route to avoid traffic jams. They can also provide information on parking lots and refueling stations, which can save travel time.
- Over the next few years, due to the technological advancements in IoT, drivers would be able to access highway warnings and messages to avoid accidents. Real-time data analytics is capable of utilizing the IoT and big data capabilities, to enhance mobility systems and ensure concentrated device uptime. Ultimately, this can reduce costs associated with vehicle management and can benefit the transportation industry.
- With the increasing penetration of autonomous vehicles, the demand for smart fabrics will also witness an increase, driving the market forward.
North America Occupies the Largest Market Share
- The North American region occupies the largest market share owing to the technological advancements and increasing technological penetration among users and increasing demand from end-user segments, such as aerospace, automobiles, shipping, and railways which are the primary growth driver for the smart fabrics for the transportation market in this region.
- Moreover, major players in this region have launched many efficient and highly advanced products as compared to older products, to deliver the prevailing services.
- Furthermore, with the emergence of information technology and increased usage of IoT devices in automotive applications has added a new dimension in the manner of conducting business operations in this region. Also, with the deployment of smarter fabrics functional systems, based on IoT techniques, it is helping the transportation industry establish and maintain an operational process, which is directly boosting the market studied.
The smart fabric for transportation market is competitive owing to the presence of many vendors running their business in domestic as well as international boundaries. The market appears to be moderately concentrated moving towards the fragmented stage. Key strategies adopted by the major players are product innovation, product design. Some of the major players in the market are AIQ Smart Clothing, Inc., Kolon Glotech, Inc., Interactive Wear AG among others.
- April 2019 - DuPont Transportation & Advanced Polymers opened its new Aerospace Technology Center at the DuPont Vespel manufacturing site in Valley View, Ohio. The new Technology Center will showcase technology advancements that support current and future aerospace designs with products for wear, friction and sealing applications
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