Market Overview

Smart textiles are otherwise called smart dress or smart articles of clothing. They are the textures, which have computerized segments like light, battery, smart chips, and other little electronic gadgets fitted into it. Such textures are creatively planned and designed to meet the prerequisites of significant end client like military, sports, textile, car, and medical care. In view of the working of the texture, there are two significant kinds of the smart textiles to be specific: execution improving and stylish. The exhibition upgrading is a sort of smart textiles, which is fundamentally utilized in athletic, sports and military applications. They control internal heat level and weight, wind drag and outer vibrations to work on the presentation of a competitor.

Then again, the stylish smart textures light up or change tone, can retains energy from climate by tackling surrounding light, wind vibrations, and warmth by responding with them. According to some driving exploration foundations, the worldwide aviation center material market is assessed to reach almost USD 40 billion before the finish of 2023, developing at a significant development pace of around 9%. This, thus, is probably going to help interest for the smart textures in assembling aviation composites during the survey time frame.

Competitive Analysis

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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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.

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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