Smart Textile Industry: The Future of the Fabric Industry | Share, Size, Future Opportunities, Segmentation and Forecast
The global smart textile market is growing rapidly, witnessing significant demand from the military defense, sports, and, more importantly, the healthcare industry. Smart garment/textile is specially designed for defense applications with multispectral camouflage in both static and moving positions. It helps soldiers in CBR threats monitoring by detecting the presence of hazardous agents, such as H2S, NO2, Cl2, and provides warnings accordingly.
Initially designed for militaries, smart textiles soon found usages in sport and healthcare due to its multifunctional prototype. Flame retardancy, water dirt repellence, and anti-mosquito solutions qualities, that smart textile demonstrates, soon attracted the sports community. But what drawn healthcare towards smart textile is the capability to measure vital body signs and control microbe transmission and body temperature.
Smart textile measures body vital signs — pulse rate, heart rate, and also communicates info via an app in the Smartphone through the embedded system. The smart textile can regulate body temperature by cooling and heating through monitoring of the ambient temperature. Smart garment can sense and measure deformations in the fabric, employing conductive ink and waterproof circuitry, which also makes it washable smart textile.
Resultantly, the smart textile industry is garnering tremendous traction worldwide. According to Market Research Future (MRFR), the global smart textile market is poised to grow at an impressive CAGR during the anticipated period (2020–2030). Smart textile’s remote monitoring capabilities are proving to be valuable during the COVID-19 pandemic, allowing caregivers to stay engaged with and care for their patients remotely.
Global Smart Textile Market — Segments
The report is segmented into four dynamics;
By Types : Passive Smart Textile, Active Smart Textile, Very Smart Textile, and others.
By Application : Sensing, Architecture, Medical, Energy Harvest, Thermo-Electricity, and others.
By End Use Industry: Military Defense, Building Construction, Automotive, Textile, Medical, Sports, and others.
By Regions : Americas, Europe, Asia Pacific, and Rest-of-the-World.
Global Smart Textile Market — Regional Analysis
North America dominates the global smart textile market. The largest market share attributes to the increasing demand from major end-use industries such as military defense and sports. Besides, the presence of a considerable number of industry players and well-established defense sector increases the market share. The US accounts for a significant share in the regional market due to increasing spending to strengthen its defense sector. The North American smart textile market is projected to retain its leading position in the global market throughout the estimated period.
Asia Pacific region stands second in the global smart textile market. The market is driven by the growing public investment in the marine, defense, and aerospace sectors. India, China, South Korea, and Japan are major growth contributing countries in the regional market. Additionally, growing foreign investments and high budget allocation by governments in the defense sector boosts the market demand. The APAC smart textile market is forecasted to create a substantial revenue pocket during the assessment period.
Europe smart textile market is growing rapidly. Factors such as the presence of major end users of smart textiles in this region, such as automotive, aerospace, and textiles industry, drive the market growth. Moreover, well-established healthcare sectors in this region positively impact market growth, driving the demand for smart textiles. France, the U.K, Germany, and Italy are major contributors to the regional market growth. The European smart textile market is expected to grow at a significant CAGR during the forecasted period (2020–2030).
Global Smart Textile Market — Competitive Analysis
Highly competitive, the global smart textile market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers acquisitions, expansion, and product/technology launch.
Major Players:
Players leading the global smart textile market include Google Inc. (US), Interactive Wear AG (Germany), AiQ Smart Clothing (Taiwan), Clothing+ (Finland), GENTHERM (US), Textronics, Inc. (US), Sensoria Inc. (US), Outlast Technologies LLC (US), Ohmatex ApS (Denmark), and Thermosoft International Corporation (US), among others.
Industry/Innovation/Related News
May 27, 2020 — — — Siren Care (the US), a medical device company, announced raising USD 11.8 MN funds to power commercial expansion of its smart fabric remote patient monitoring solution. Siren has developed a breakthrough technology to embed microsensors in fabric, allowing for mass production of affordable, washable smart textiles with remote patient monitoring applications. The funding is led by Anathem Ventures and existing investors DCM, Khosla Ventures, 500 Startups, and Peter Thiel’s Founders Fund.
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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