The smart fabrics for sports and fitness market is expected to grow with a CAGR of 17.95%, during the forecast period (2019 - 2024). The recent developments in the field of microfiber technology have enabled the production of textiles with advanced features like breathability, waterproofing, etc. These additional abilities to react to heat or light gives them a major edge in adapting to external environmental stimuli over traditional fabrics.
- The recent technological advancements in the microelectronics industry have resulted in the development of components scaled down to Nano-scale. These advancements are expected to boost the growth of smart fabrics for sports and fitness market over the forecast period.
- Major companies have been researching in smart fabrics for new possibilities to incorporate fabrics or textiles with emerging technologies, to improve the lifestyle of the consumer.
- In recent times, with the emergence of smart sensor devices, there has been a growing demand for sophisticated wearable smart gadgets. Noticeably, there has been a rapid growth of low-cost smart wireless storage networks, which has been driving the market.
Scope of the Report
Smart fabrics are made by incorporating smart materials, conductive polymers, encapsulated phase change materials, shape memory polymers, electronic sensors, and communication equipment. These materials interact according to their designed feature with the stimuli in their environment.
Key Market Trends
Miniaturisation of Electronic Components is Expected to Drive the Market
- With the ongoing technological advancements in nano-technology and micro-fabrication technologies, the miniaturization has been enabled in various electronic components, which is making components like smart sensors small and cost-effective, which is driving the smart fabrics for sports and fitness.
- The 3-D printing production processes and production of nano-materials by Nano Dimension solutions have the potential to resolve any production challenges and will also help create an efficient production technology for smart fabrics.
- There are several firms that manufacture numerous wearable technology gadgets, from Fitbit's fitness trackers (bands), Nike's FuelBand to other major Sports brand watches, to meet the Sports and Fitness requirements.
- The emerging new segment of wearable devices called the E-textile or Smart fabrics have changed the way these devices are being worn now. Smart fabrics incorporate biometric sensors, minicomputers, circuits or metallic yarns for different functionality. These fabrics can be customized accordingly to meet almost all the requirements of a sports athlete or any fitness buff.
North America to be the Prime Market for the Adoption of Smart Fabrics in Sports and Fitness Segment
- The increasing R&D activities and the rising adoption of modernized electronic wearables are the major factors that are supporting the growth of the smart fabrics in this region. With the presence of several major players and the rising technological advancements, the market is expected to witness strong growth for the next few years.
- The United States is expected to witness strong growth in Smart Fabrics in Sports and Fitness Market. Considering the Sports and Fitness end users, these fabrics have features of being modified as per the user's needs.
- These fabrics are water resistant up to a certain limit and can also measure the chemical composition of the user's body, continuously monitor heart rate, and also, keep a track of the physical activities done as well as the local environment.
- Further, various sports organizations in the United States have significantly invested in the advancement and development of smart fabrics that are to be incorporated with lightweight sensors, color-changing materials, and other features.
The smart fabrics for sports and fitness market is highly competitive owing to the presence of many small and large players. The market is moderately concentrated and the strategies adopted by the major players are Nike, Inc., AiQ, Adidas AG, Smartex s.r.l., Koninklijke Ten Cate NV, among others.
- March 2018 - Koninklijke Ten Cate B.V. announced that it has reached an agreement with integrated chemicals and materials group Toray Industries Inc. on the acquisition of TenCate Advanced Composites, a Dutch carbon fiber composite material manufacturer. This acquisition is expected to bring together complementary product offerings in high-performance composites serving the aerospace, space, and communications and high-performance industrial markets
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