The latest market report published by Credence Research, Inc. “Global Smart Fabric Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the global smart fabric market was US$ 876.3 Mn in 2018 and expected to progress with CAGR of 26.8% from 2019 to 2027, reaching US$ 7,425.5 Mn in 2027.
“Growing application of smart fabrics, driving the market growth”
Smart fabrics are manufactured to include technologies that provide the wearer with increased functionality. It senses and reacts to stimuli or environmental conditions, such as those from thermal, mechanical, chemical, magnetic, and other sources. 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. Both developed and developing countries, will witness the increase in demand with innovative trends. This can be attributed to the factors such as increase in standard of living, rising incomes, awareness of safety and environmentalism, advances in medical technology, expanding automotive sectors, and increased spending on healthcare.
Integration of smart textiles & wearables, use of nanotechnology in textiles, applications in smartphones, wearables in healthcare sector, and application in the military, defense & sports sector are the major factors that drive the smart textile market across the globe. Increasing research and development in the smart textile market along with the growing demand in emerging economies such as India and China are acting as major opportunities in the global smart textile market.
Browse the full report at https://www.credenceresearch.com/report/smart-fabric-market
The overall smart fabric market is competitive in nature and it is growing at moderate rate. The market players are adopting strategies such as launching innovative & new products, agreements, partnership & collaboration, and investment in R&D to stay competitive in the market.
• In January 2018, DuPont Advanced Materials (DuPont) announced today its latest smart clothing technology under a new brand identity – DuPont™ Intexar™. Intexar™ transforms ordinary fabrics into active, connected, intelligent garments that enable critical biometric data collection including heart rate, breathing rate, form awareness and muscle tension.
The Intexar™ product line includes a set of unique, compatible, and stretchable inks and films that enable comfortable, durable and washable smart garments. Intexar™ offers superior stretch and comfort and is easily integrated into garments to make smart clothing. Intexar™ smart clothing technology used for sports, fitness and wellness.
Key Market Movements:
• Based on product type, passive smart fabric segment captured the largest share in 2018. However, active & ultra-smart fabrics expected show good growth during the forecasted period pertaining to development in AI and nanotechnology.
• Based on functionality, sensing segment expected to show strong growth from 2019 to 2027.
• Based on application, sport & fitness segment expected to grow with highest CAGR from 2019 to 2027.
• Based on region, North America was the largest regional smart fabric market in 2018. On the other hand, Asia Pacific region expected to drive the market growth with the highest CAGR from 2019 to 2027.
List of Companies Covered:
• AIQ Smart Clothing Inc.
• Adidas AG
• NIKE Inc.
• ThermoSoft International Corporation
• Kolon Industries Inc.
• Interactive Wear AG
• Schoeller Textil AG
• Sensoria Inc.
• OTEX Specialty Narrow Fabrics Inc.
The Global Smart Fabric Market is Segmented into:
|Segmentation||Fabric Type Segment (2017-2027; US$ Mn)|
|Functionality Segment (2017-2027; US$ Mn)|
|Application Segment (2017-2027; US$ Mn)|
|Geography Segment (2017–2027; US$ Mn)|
*Complete segmentation list is on report page