Improving Functional Value of Smart Fabrics Supported by Advancements in Material Science and Fiber Technologies to Spur Growth in the Global Smart Fabrics Market
Rapid
pace of advancements in material science and fiber technologies, and
development of miniaturized electronics are poised to drive the global Smart Fabrics market
to reach US$8.3 billion by 2024. Expanding applications of smart fabrics
specifically in sports & fitness, military, fashion and home health
monitoring are also expected to stimulate market growth.
The
integration of science and advanced technology into fabrics and textiles has led
to the emergence of a new range of clothing and textiles, termed smart fabrics.
Also referred to as smart clothing, intelligent clothing, smart textiles and
e-textiles, smart fabrics are embedded with digital and electronic components
such as actuators, sensors, microcontrollers, and data processors that can read
and respond, allowing the smart fabric to sense and react to environmental
conditions and external stimuli from thermal, mechanical, chemical, magnetic or
electrical sources.
Though
a relatively nascent technology, smart fabrics market has been gaining strength
driven by the trend towards miniaturization of electronics, rapidly declining
prices of electronic components and the falling production cost of
semiconductors and textiles. Rising consumer demand for advanced electronic
devices with sophisticated capabilities, rapid growth of low-cost smart
wireless sensor networks and rising demand for smart devices such as smart
watches and smart wristbands are also driving the smart fabrics market. Also
benefiting the market is the increasing use of electronic textiles in a new range of wearable
smart products. Increasing disposable incomes of people, specifically
millennials, improving standards of living and rising awareness about advanced
technologies are enhancing adoption of smart textiles.
The
expanding applications of smart fabrics in sectors such as sports &
fitness, healthcare, military & defense, protection and automobile sectors
among others continue to provide significant growth opportunities for the
market. Significant potential for growth in the market is emerging from military clothing and personal protective
markets. The increasing focus on safety of workers and personnel is leading to
the growing use of smart fabrics in industrial applications. Military clothing
is a major end-use application market for smart textiles with growth driven by
increasing focus on the integration of wearable technologies, which can reduce
weight from cabling and batteries used for electronic devices in military
uniforms. In the healthcare sector, smart fabrics have the ability to monitor
and analyze health parameters such as blood pressure, temperature and heart
rate of the wearer. With the use of wearable devices, patients can be monitored
continuously for physiological signals, thereby eliminating the need for
frequent or unnecessary visits to the clinic. In the sports and fitness sector,
growing need for products to improve athletic performance in fields such as
running, extreme sports and skiing is expected to benefit market growth. The
segment has witnessed the development of products with physiological monitoring
and supervision devices for measuring athletes’ performance in order to
evaluate the effectiveness of training programs.
Increase
in R&D initiatives focused on the development of new and advanced smart
textile products will continue to provide favorable prospects for the market.
Technology innovations, specifically in areas such as nanotechnology, hybrid
materials and biosensors, along with development of new materials and
miniaturized electronics augur well for the smart textiles market. Developments
in material science and fiber technologies in areas such as nanofibers,
conductive thrust-sensing fabrics and crossbreed fabrics along with development
of advanced electronic components are leading to the expansion of
functionalities in smart fabrics.
As
stated by the new market research report on Smart Fabrics, the United States represents
the largest regional market, worldwide. The presence of a large number of
technology companies in the region contributes to the region’s leadership in
the smart fabrics marketplace. Increasing applications of smart fabrics in
sports & fitness sector, the growing demand for innovative and advanced
textiles from the automotive and consumer electronics industries, and the
rising significance of smart textiles in military & defense sector are
favoring market growth. Also driving growth is the high adoption rate of smart
and sophisticated gadgets and the growth of low-cost smart wireless sensor
networks in the region. Asia-Pacific (including Japan) is forecast to register
the fastest CAGR of 22% over the analysis period, driven by the presence of
large-scale textile manufacturers. Increasing emphasis on health issues and safety
concerns in emerging countries are strengthening the market for smart workwear
for use in commercial and industrial environments.
Major
players in the market include AiQ Smart Clothing Inc., Clothing+, DowDuPont
Inc., EXO2, Globe Manufacturing Company LLC, Hexoskin, Intelligent Clothing
Ltd., Interactive Wear AG, International Fashion Machines Inc., Marktek Inc.,
Milliken & Company, Noble Biomaterials Inc., Ohmatex ApS, Outlast
Technologies LLC, Schoeller Textiles AG, Sensoria Inc., Smartex s.r.l, and
Toray Industries Inc., among others.
The
research report titled “Smart Fabrics: A Global
Strategic Business Report” announced by Global Industry Analysts
Inc.,
provides a comprehensive review
of market trends, issues, drivers, mergers, acquisitions and other strategic
industry activities of global companies. The report provides market estimates
and projections for all major geographic markets such as the US, Canada,
Europe, Asia-Pacific (including Japan) and Rest of World. The global market for
Smart Fabrics is additionally analyzed by End-Use Application, including
Fitness & Sports, Transportation, Defense/Government,
Commercial/Industrial, Healthcare, and Others
For
enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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