The Increasing Trend of Wearable Technology and a Healthy Lifestyle is Driving the Demand for Smart Textiles
" The global smart textiles market is expected to witness a CAGR of around 30% during the forecast period 2019–2025 "
Bangalore, India, October 10, 2019: As per the recently published study “Global Smart Textiles Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for smart textiles will continue to grow, owing to the increasing demand for smart wearables and advancements in nanotechnology & smart materials.
The rapid advancements in the field of wearable technology, ranging from smartwatches, fitness trackers, and smart shoes, have fuelled the market for smart textiles as well. The exciting feature of wearable technology to automatically identify behavioral or environmental changes and use the data to adapt to such changes is bolstering the adoption of smart textiles across industries. The development of smart textiles by integrating conductive threads into clothing or embedding additional sensors has several applications, which will enhance human–machine interfacing. In the healthcare industry, smart textiles are used for sensing the changes by interacting with the human body to provide more detailed information about the wearers' physiology. The tracked data can be used by doctors to monitor and micro-manage patients efficiently.
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Increasing focus on R&D of smart textiles leading to a wide range of applications is also one of the significant factors enabling the growth of the smart textiles market. This trend is expected to continue during the forecast period 2019–2025, fueling the market growth at a CAGR of around 30% during the forecast period 2019–2025.
North America is maintaining a dominant position in the global smart textiles market, followed by Europe and APAC. Drivers supporting the growth of the smart textiles market in North America include technological advancements and high capita income. With increasing sports & fitness activities in this region, players and several sports leagues are investing in smart textiles for enhancing athletes’ as well as the team performance.
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In terms of segmentation analysis, the active smart textile segment contributes to a significant revenue share within the smart textiles market. In terms of functionality, the sensing segment is estimated to hold the largest market share. Among end-users, the military & defense segment holds the majority of the market share in 2019, but the sports & fitness segment is expected to increase at the highest CAGR during the forecast period 2019–2025.
“Smart textiles are still in the development stage but are considered as the future of the textile industry and hold many potential applications in the areas of healthcare, military & defense, and sports & fitness, among many others.” – Sonam Chawla, Research Analyst, Infoholic Research
Key segments of the report include:
- Passive Smart Textile
- Active Smart Textile
- Ultra Smart Textile
- Aesthetics & Luminescence
- Energy Harvesting
- Thermal Energy Harvesting
- Military & Defense
- Sports & Fitness
- Fashion & Entertainment
- North America
- Rest of Europe
- Rest of APAC
- North America
- Industry outlook: Market trends, drivers, restraints, and opportunities