Reports and Insights (R&I) has published a new report titled, “Smart Textiles Market: Opportunity Analysis and Future Assessment 2020 to 2028”
Global Smart Textiles Market, by Function (Sensing, Energy Harvesting, Luminescence & Aesthetics, Thermo-electricity, & Others), By Type (Passive Smart, Active Smart, & ultra-smart), By End User Industry (Military and Protection, Architecture, Healthcare, Sports and fitness, Fashion and entertainment, Automotive, Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a double-digit CAGR for the period between 2020 and 2028.
The global smart textile market in 2020 is estimated for more than US$ 26.2 Bn and expected to reach a value of US$ 37.0 Bn by 2028 with a significant CAGR of 4.4%
As per the report, Smart textiles can be defined as textiles that are able to sense and respond to changes in their environment. They may be divided into three types: passive, active smart textiles, and ultra-smart.
The scope of this report is mainly focused on smart textiles that are contributing and showing growth in various industries such as healthcare, energy and transports, Information, and communications technology. The objective is to present the latest research results together with basic concepts related to the most promising end-user industry.
Smart textile is entering into a new era that is described by the union of various sciences, for example, electronics and polymer sciences. This section starts by auditing the difficulties in smart textile advancement and representing current exchange offs.
At that point, the part gives an outline of later mechanical leaps forward and shows how new empowering advancements from various controls help to defeat innovative obstructions. At last, the part portrays new ways to deal with the commercialization of savvy materials and uncovers potential themes that will shape the fate of smart textile.
There is high demand accounted for uses of smart textile in military and therapeutic applications. There is an expanding pattern of coordinating knowledge in our day by day condition. These systems help customers by providing information which they needed for understanding current situations and it also helps them to manage daily tasks and works.
Furthermore, Reports and Insights (R&I) Study identifies that, in 2018, North America is accounted to hold the largest market share in comparison to other regions and expected to maintain its dominance throughout the forecast period, owing to the advancement in technology and advancement in products in comparison to other regions.
On the basis of functions, the global smart textile market is segmented into Sensing, Energy Harvesting, Luminescence & Aesthetics, Thermo-electricity, & Others. In 2018, the sensing function is accounted to holds the largest revenue share in comparison to other segments, and expected to grow at the highest CAGR during the forecast period.
R&I Study identifies some of the key participating players in the Smart textiles market globally are Google Inc., Intelligent Clothing Ltd., International Fashion Machines, Inc., Interactive Wear AG, Schoeller Textiles AG, Textronics, Inc., Vista Medical Ltd., Textronics, Inc., Gentherm Incorporated, Sensoria Inc. and others.
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