Smart Textiles Market

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Smart Textile MARKET 2020
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Smart Textile MARKET 2020
Smart Textile Market 2020 Industry Survey,
Growth, CompetitiveLandscape and Forecasts to
2023
Smart textiles are also known as smart clothing
or smart garments. They are the fabrics, which
have digital components such as light, battery,
smart chips, and other small electronic devices
fitted into it. Such fabrics are innovatively
designed and engineered to meet the requirements
of major end user such as military, sports,
textile, automotive, and healthcare. Based on the
functioning of the fabric, there are two major
types of the smart textiles namely performance
enhancing and aesthetic. The performance
enhancing is a type of smart textiles, which is
mainly used in athletic, sports and military
applications. They control body temperature and
weight, wind drag and external vibrations to
improve the performance of an athlete. On the
other hand, the aesthetic smart fabrics light up
or change color, can absorbs energy from
environment by harnessing ambient light, wind
vibrations, and heat by reacting with them. As
per some leading research institutes, the global
aerospace core material market is estimated to
reach nearly USD 40 billion by the end of 2023,
growing at a considerable growth rate of around
9 . This, in turn, is likely to boost demand for
the smart fabrics in manufacturing aerospace
composites during the review period.
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Smart Textile MARKET 2020
Market Segmentation The global smart textile
market is segmented on the basis of type,
application, end use industry, and region. On the
basis of the type, the market is divided into
passive smart textile, active smart textile, and
very smart textile. Among these segments, the
passive smart textile is holding the largest
share of the market on account of lower cost as
compared to its counterpart and relative lesser
complex operations. By the application, the
market is categorized into sensing, architecture,
medical, energy harvest, thermo-electricity, and
others. The sensing segment is growing at a
robust growth rate during the review period. This
growth trend is primarily attributed to the
increasing demand for the protective gears with
health tracking devices. Also, the sensing is the
most significant characteristic of the smart
textiles. Based on the end use industry, the
global smart textile market is classified into
military defense, building construction,
automotive, textile, medical, sports, and others.
The military defense segment is the largest
consumer of smart textiles, which is holding over
30 share of the market. This is majorly
attributed to the continuously increasing global
threat driving the huge investment in defense
expenditure by the major countries such as India,
China, the U.S., and Russia. Enquiry of the
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Smart Textile MARKET 2020
Regional Analysis
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.
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Smart Textile MARKET 2020
Application Major Players in this Research
Smart Textile Market Prominent Players Some of
the key players in the global smart textile
market are 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).
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