Pune, 14, Dec, 2022: The “Smart Textile Market” report published by Maximize market Research, the market is expected to grow from USD 4.12 billion in 2021 to USD 30.45 billion in 2029, at a CAGR of 28.40 percent for the forecast period from 2022 to 2029.
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Smart Textile Market Scope and Research Methodology
The report offers a complete picture of global Smart Textile market. Data from past years is compiled to forecast the future prospects of this market. Porter’s five forces help to identify where power lies in a business situation. This is useful both in understanding the strength of an organisation’s current competitive position, and the strength of a position that an organisation may look to move into. The report helps in identifying competitive rivalry currently running in the Smart Textile Market. It also helps to understand bargaining power of suppliers and consumers. Clear representation of competitive analysis of key players by segment type and regional presence in the Smart Textile Market make the report investor’s guide.
Smart Textile Market was segmented by Type, Application to understand the factors affecting the market growth positively and negatively. This provided a clear picture of the goods and services being offered in the Smart Textile Market that aids the decision-making process for companies. The Smart Textile Market size is examined by report using a variety of approaches, and an analysis is conducted to provide precise and comprehensive global market data. It is divided up into multiple segments to cover various aspects for easier comprehension. Researchers used primary and secondary methodology to gather the data for the report. SWOT analysis was conducted to provide the strengths and weaknesses of the Smart Textile Market.
Smart Textile Market Overview
The term smart textiles refers to fabric materials with built-in electronics, lighting, and batteries. Smart textiles are fabrics created using cutting-edge technology that offer value for the wearer. It senses and reacts to stimuli or environmental conditions, such as those from thermal, mechanical, chemical, magnetic, and other. The global demand for various smart textile products has increased continuously due to their expanding base of applications in end user industries. Most of the demand for smart textile comes from end use industries such as military and defense and healthcare.
Smart Textile Market Dynamics
Smart textiles are adopting advanced technologies like the Internet of Things and artificial intelligence have revolutionised the textile sector. In order to track and share the wearer’s data, such as heart rate, blood pressure, perspiration, and temperature, new smart gear is being created that combines bluetooth low energy (BLE), artificial intelligence (AI), edge computing, and cloud data. AI can access and collect operational data in both the past and the present, as well as provide insights that can make the wearer more productive. These advanced technologies are expected to drive the smart textiles market.
Since it’s challenging for smart fabric firms to scale up and create novel and incremental technologies, a lack of industry standards and regulations is expected to be a significant barrier to market growth. Both the environment and human health may be endangered during the production of smart textiles. The main processes in the textile business are de-sizing, dyeing, bleaching, neutralising, scouring, mercerizing, printing, and finishing. High-level toxic effluents are released as a result of these operations, contaminating the land and polluting the air, surface water, and groundwater. Strict environmental laws must be implemented in order to control the pollutants released by the textile industry. This is a major constraint for the Smart Textiles Market.
Smart Textile Market Regional Insights
North America held a significant percentage of the global Smart Textile Market in 2021. The substantial demand for smart fabrics in the US, notably from the military and defence, healthcare, and fitness verticals and sports, is one of the key drivers that has contributed to the North American smart textiles market’s dominant position. Several prominent smart textile manufacturers are also based in North America, including DuPont (US), Gentherm (US), Sensoria (US), Alphabet (US), and Jabil (US), all of which are helping the regional market flourish.
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Smart Textile Market Segmentation
- Passive Smart Textile
- Active/Ultra-Smart Textile
- Shape Memory Textiles
- Color-Changing Textiles
- Phase-Changing Textiles
- Wearable Smart Electronic Textiles
Smart Textile Market Key Manufacturers are:
- AIQ Smart Clothing
- Interactive Wear
- Outlast Technologies
- Intelligent Clothing Limited
- International Fashion Machines Inc.
- Schoeller Textiles AG
- Textronics Inc.
- Google Inc.
- Vista Medical Limited
Key questions answered in the Smart Textile Market are:
- What is Smart Textile?
- What is the growth rate of Smart Textile Market for the forecast years?
- What is the nature of competition in Smart Textile industry in developed and developing economies?
- Who are the key players in the Smart Textile Market?
- Who are the market leaders in Smart Textile in Europe?
- Who are the market leaders in Smart Textile in USA and Canada?
- Who are the market leaders in Smart Textile in India, China, Japan and South Korea?
- What are the factors affecting growth in the Smart Textile Market?
- Who held the largest market share in Smart Textile Market?
- What are the factors for the growth of Asia-Pacific region in Smart Textile Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Type, Application, and Region.
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading Automation & Process Control research firm, has also published the following reports:
Textile Chemical Market –The Textile Chemical Market size is expected to reach USD 35 billion by 2029 at a CAGR of 5.6 percent during the forecast period. The Textile Chemical Market is expected to be driven by the growth of industries like banking, financial services, insurance, and the information and communications technology sector as a result of rapid industrialization, infrastructural development, and consumer spending.
Smart Clothing Market –The Smart Clothing Market size is expected to reach USD 16.40 billion by 2029 at a CAGR of 26.2 percent during the forecast period. The Smart Clothing Market is expected to be driven by growing demands for monitoring bodily activities using sensors and is expected to continue to do so in the forecast period.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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