Overview of the smart textiles market
According to the market research analysts at Technavio, the global smart textiles market is expected to witness tremendous growth and will post a staggering CAGR of nearly 25% during the predicted period. With the miniaturization of electronic components and systems, the market for smart textiles is likely to have a positive outlook over the coming years. The core yarns of traditional textiles are integrated with electronic components to be used in several applications like monitoring vital signs in the medical sector, monitoring performance in the sports sector, and in transport, military, and other related sectors. Rapid technological developments in wireless and electronics sector have led to the miniaturization and integration of electronic components into conductive textiles, propelling this market’s growth prospects.
One of the recent trends gaining traction in the market is the increase in incorporation of the Bluetooth low energy (BLE) technology. This technology is wireless personal area network technology designed with connectivity to mobile phones, low power consumption, and multi-vendor interoperability. Garments enabled with BLE technology can sense and monitor data via an internet connection. Moreover, BLE technology considerably reduces power consumption in comparison to other power sources.
Competitive landscape and key vendors
The global smart textiles market is highly fragmented due to the presence of several well-established vendors. The majority of vendors have an extensive geographical presence with a large number of manufacturing facilities. Few vendors in the market have strategies in place to strengthen their footholds in the market. With the increasing number of new entries and participants, the size of the market is increasing significantly. Vendors are also focusing on the development and introduction of innovative products in the market.
Key vendors in this market are -
- Clothing+
- Interactive Wear
- Intelligent Clothing
- Ohmatex
- Sensoria
Other prominent vendors in the market include Infineon Technologies, Texas Instruments, Schoeller Textil, and International Fashion Machine.
Segmentation by type and analysis of the smart textile market
- Passive smart textile
- Active smart textile
- Ultra-smart textile
The active smart textile segment is one of the fastest growing sectors in the smart textile market. These are second generation smart fabrics that have integrated sensors and actuators. The actuators are activated upon the detection of a signal from a central control unit. Active smart textiles are available in the form of heat evolving fabrics and electrically heated suits and have features like shape memory, water resistance, and heat storage, which will lead to its augmented adoption in the future.
Geographical segmentation and analysis of the smart textile market
- APAC
- Europe
- North America
- ROW
In terms of geography, North America led the global smart textiles market and is likely to continue its dominance over the forecast period. The growth of this market in the region is attributed to the increasing demand from end-user segments like the military, sports, healthcare and fitness, and architecture. Also, the Department of Defense in the US has made substantial investments in the development of advanced functional fabrics incorporated with GPS and lightweight sensors, in conjunction with a consortium of 89 companies, researchers, universities, and start-ups.
Key questions answered in the report include
- What will the smart textiles market size and the growth rate be in 2020?
- What are the key factors driving the global smart textiles market?
- What are the key market trends impacting the growth of the global smart textiles market?
- What are the challenges to market growth?
- Who are the key vendors in the global smart textiles market?
- What are the market opportunities and threats faced by the vendors in the global smart textiles market?
- What are the trending factors influencing the market shares of APAC, Europe, North America, and ROW?
- What are the key outcomes of the five forces analysis of the global smart textiles market?