Market Research Report
Global Smart Textiles Market Research Report Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||558547|
|Published||Content info||190 Pages
Delivery time: Inquiry
|Global Smart Textiles Market Research Report Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023|
|Published: September 14, 2017||Content info: 190 Pages||
Smart textiles are electronic wearable that have the ability to monitor physical signals of the patient. The global smart textiles market is expected to rise at a CAGR of about 34% during the forecast period 2016-2023. Evolution of low-cost smart wireless sensor networks in wearable is fueling development in the global smart textiles market during the forecast period. However, lack of exhaustive standards and regulations and high cost associated with the electronic wearable technology are the factors that restrain the growth of the global smart textiles market during the forecast period.
Geographically, North America accounted for the largest market share in terms of revenue for the smart textiles market in 2016 followed by Europe. North America is expected to dominate the smart textiles market during the forecast period due to rising demand for smart textiles across the region. Asia Pacific is expected to be the fastest growing region for the smart textiles market during the forecast period due to rising demand for smart textiles and wearable electronics from developing countries of Asia Pacific.
The growth in global smart textiles market is also influenced by the presence of major players such asInternational Fashion Machines, Inc. (U.S.), Intelligent Clothing Ltd. (U.K.), Google Inc. (U.S.), Textronics, Inc. (U.S.), Sensoria Inc. (U.S.) etc.Product launches, mergers & acquisitions etc. are some of the major strategies adopted by the market players to gain competitive advantage.
Global smart textiles market report covers segmentation analysis of functions, type and end users. Report further covers segments of functions which include energy harvesting, luminescence & aesthetics, sensing, thermo electricity and other functions. Sensing held the largest market revenue share in 2016 for the global smart textiles market and it is expected to dominate the market during the forecast period due to its sensing ability which is the most essential characteristics of the smart textile product. It finds applications in sectors such as medical, sports, military etc. Types of smart textiles have been divided as active smart, passive smart and ultra smart. Furthermore, end users adopting smart textiles include architecture, automotive, fashion and entertainment, healthcare, military and protection, sports and fitness and other end users. Sports and fitness held the largest market revenue share in 2016 for the global smart textiles market and it is expected to dominate the market during the forecast period due to increasing demand for smart textiles and electronic wearable in sports and fitness sector.