Smart Textile Market Synopsis:
The global smart textiles market is projected to grow at significantly higher CAGR on account of increasing demand from major end uses such as textile, apparel, military and sports. Additionally, growing use of smart textiles on the backdrop of growing environmental concerns regarding pollution caused by synthetic fiber and textile industry. Increasing awareness about the benefits of natural fiber on the human health as well as on the environment, rising standard of living, growing population are some of the prominent factors driving growth of the market. Additionally, Smart Textiles industry growth typically follows the growth of these key end markets.
Geographically, the demand for natural smart textiles is increasing day by day, especially from developing economies such as china, Malaysia, South Korea, and India. India is the world’s second largest producer of textiles especially in cotton and Smart Textiles. This is primarily attributed to abundant availability of raw materials such as cotton, jute, silk, and skilled workforce.
Smart Textile Market: Competitive Landscape and Top Key Players
The global smart textiles is a mature market with considerable number of tier 1 players operating into the market. The market is primarily driven by flourishing demand from apparel, advanced textiles, military clothing and sports equipment industry. The market is greatly concentrated by the presence of number large players yet, Wear AG, Google Inc., and Outlast Technologies LLC are the key manufacturers in this market. Almost all of these market participants are majorly adopting the expansion and product launch tactics to strengthen their market position. Growing demand from textile industries, and continuous rising demand for sports goods and equipment, along with the collaborations and agreements between manufacturers, distributers, and marketing firms are key market forces operating in the market for the growth of the demand for Smart Textiles.
Some of the key players in the global smart textile market are Interactive Wear AG (Germany), Google Inc. (U.S.), AiQ Smart Clothing (Taiwan), GENTHERM (U.S.), Clothing+ (Finland), Textronics, Inc. (U.S.), Outlast Technologies LLC (U.S.), Sensoria Inc. (U.S.), Thermosoft International Corporation (U.S.), and Ohmatex ApS (Denmark).
Request a sample of this Premium Report @ https://www.marketresearchfuture.com/sample_request/5477
Scope of the Report:
The global smart textile market is segmented on the basis of types, application, end use industry, and region.
Based on the type, the market is classified into passive smart textile, active smart textile, and very smart textile.
On the basis of the applications, the market is categorized into sensing, architecture, medical, energy harvest, thermo-electricity, and others.
By the end use industry, the global smart textile market is divided into military & defense, building & construction, automotive, textile, medical, sports, and others.
Regionally, the market is divided into five key regions: North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America.
Latest Industry/ Innovation/ Related News Updates:
August 10, 2016- India based multinational group, which engages in development and sell of steel, textile and energy has recently announced its plans to launch smart home textiles with patented technology. The move is going to launch first of its kind technology but the company in India after successful launch in the U.S. few years ago. The technology is called HygroCotton, under which the company has filled 26 patents globally and launched smart textile products over the next three years. According to the company, they are registering 15% year on year growth, which is attributed to the changing consumer sentiments in the Indian subcontinent.
July 27, 2017- The Taiwan External Trade Development Council (TAITRA), which confers the symbol Taiwan Excellence to honor Taiwan’s most innovative products that provide tremendous value to users worldwide, has hosted the Taiwan New Products Launch at the Outdoor Retailer Summer Market at Utah. In this event four Taiwan based leading textile manufacturers exhibited their innovative products. These new products included smart textiles which measures heart rate and motion data, textile innovations using little chemicals, and cutting edge fabric printing technology among others. This is likely to showcase to the world the vast potential of Asia Pacific in the global smart textile market.
June 19, 2017- Advanced Functional Fabrics of America (AFFOA), the U.S. based public-private partnership, which is a part of Manufacturing USA, working in the field of smart textiles to develop and introduce the U.S. made high end smart fabrics providing services such as health communications, monitoring, and having dynamic design, has launched the state-of-the-art facility for prototyping advanced fabrics. After opening of this, the company has unveiled two products ready for commercialization.
November 16, 2017- The Swedish government has recently been in talks with India based one of the leading conglomerate Aditya Birla Group for a joint venture to develop smart textiles. On signing the agreements between two governments the Swedish firm Domsjo and India’s Birla group will start manufacturing smart fabrics in India. Swedish government is looking forward to scale up its investments to support the textile industry in lucrative Indian market and also improve bilateral trade between the two countries.
To Get Detailed Knowledge About the Report Click Here @ https://www.marketresearchfuture.com/reports/smart-textile-market-5477
Detailed Regional Insights:
The global smart textile market is geographically spanned across five major regions: North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Among them, Asia Pacific is projected to grow at the highest CAGR due to the surging demand from automotive, defense and sports industry, along with the building & construction industry. The major market in this region are India, China, South Korea, and Japan.
North America is the second most significant region, in terms of the growth rate, in the global smart textile market. The U.S. is the largest contributor to the regional market on account of considerable presence of well-established and leading end use industries such as aerospace & defense, and marine.
Europe is also an important region in the global smart textile market. The leading markets in this region are the U.K., Germany, France, and Italy, wherein the demand for smart textiles is mainly fetched by the automobile industry.
In the recent years, Latin America is witnessing a rapid industrialization and pacifying political and economic conditions in Brazil and Colombia. Lastly, the Middle East & Africa is also anticipated to gain a momentum on the backdrop of increasing demand from construction and automotive industry.
Intended Audience:
- Smart textile Manufacturers
- Traders and distributors of smart textile
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/smart-textile-market-5477