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Global Smart Textile Market Overview:A new report on the global smart textile market, published by Market Research Future (MRFR), predicts that this market could grow between 2016 and 2023.
Smart textiles, also popular as smart clothing and smart garments are fabrics that can easily accommodate the battery, digital components, light, smart chips, and other electronics.
The major market driving factor for the global smart textile market growth is the growing market for aerospace composite or core material and subsequent growing demand for the smart fabrics in the manufacturing aerospace composites.
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Another market driving factor is the growing use of smart fabrics in the automotive industry to develop dashboard, insulation, sensing, and under the hood. Remaining market driving factors include the changing lifestyle of consumers around the world and more health consciousness of consumers. However, the capital-intensive nature of smart textile can be a huge bottleneck in the market growth.
Market Segmentation:
The global smart textile market segmentation encompasses application, end-use industry, and type. MRFR’s take on the market explores various facets of the market in-depth.
The application-based segmentation of this market covers architecture, energy harvest, medical, sensing, thermo-electricity, and others. Among these segments, the sensing segment is growing robustly due to the increasing demand for the protective gears that are equipped with health tracking devices. Sensing is also the most significant characteristic of smart textiles.
Based on end-use industry, the market has been segmented into automotive, building & construction, medical, military & defense, sports, textile, and others. Among all segments, holding over 30% market share makes the military & defense segment is the largest consumer of smart textiles. During the forecast period, the global aerospace composite or core material market is likely to register nearly USD 40 Bn by expanding at 9% CAGR.
By type, the market has been segmented into active smart textile, passive smart textile, and very smart textile. The passive smart textile holds the largest market share due to lower cost and lesser complex operations (compared to active smart textile).
Regional Segmentation:
A geographical outlining of the global smart textile market covers Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa (MEA).
Asia Pacific region is the most influential regional market due to increasing demand from the automotive industry, building & construction industry, defense industry, and the sports industry. The headlining country-specific markets in this region are China, India, Japan, and South Korea. As the military & defense segment is the biggest end-use industry using the smart textile, China and India are important markets due to their heavy military expenditure. Other important country-specific markets are Australia and New Zealand. An analysis of the remaining countries in the Asia Pacific region featured in this report estimates the huge contribution to market revenue from some other countries.
The second most important regional market is North America due to technological advancement. The USA has the largest budget for military and defense in the whole world. After the USA, maximum revenue in North America comes from Canada. In Canada, other end-use industries keep the demand for smart textile strong. Majority of the key market players are based in North America.
Europe is another major regional market due to the high demand for smart textile by the automobile industry. Germany has the biggest automobile industry in Europe, along with a strong army. Italy, Poland, and Spain are other important country-specific markets. However, apart from Germany, there are other military powers in Europe that can be crucial markets for smart textile. These countries are France, Russia, and the UK.
During the forecast period, the market in Latin America can grow due to rapid industrialization and pacifying political as well as economic conditions in Brazil and Colombia. Other important country-specific markets in this region are Argentina and Mexico.
In the MEA region, the market is surging due to increasing demand from the automotive industry and construction industry. Maximum market revenue in this region comes from Bahrain, Israel, Kuwait, Oman, Saudi Arabia, Turkey, Qatar, UAE, and North Africa.
Key Players:
Prominent players in the global smart textile market include AiQ Smart Clothing (Taiwan), Clothing+ (Finland), Gentherm Incorporated (USA), Google Inc. (USA), Ohmatex ApS (Denmark), Outlast Technologies LLC (USA), Sensoria Inc. (USA), Textronics Inc. (USA), Thermosoft International Corporation (USA), and Wear AG (Germany).
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Latest Industry News:
• Ramses Martinez, from the School of Industrial Engineering and the Weldon School of Biomedical Engineering in Purdue’s College of Engineering, is working to build a smart fabric by adding omniphobic triboelectric nanogenerators (Rᶠ‐TENGs) existing fabrics. Martinez is applying highly networked nanoflakes and fluoroalkylated organosilanes (via spray). This not only makes his e-textile antibacterial and waterproof but also enables human-machine interfacing. 9 AUG 2019
TABLE OF CONTENTS:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Printing Methodology
3.1 Research Application
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Smart Textile Market
5 Industry Overview Of Global Smart Textile Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.1 Introduction
6.2 Growth Trends
6.3 Impact Analysis
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.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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