DUBLIN, Nov. 11, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/k257zk/smart_textiles) has announced the addition of the "Smart Textiles Market by Type, Function, Industry, & Geography - Global Forecast to 2020" report to their offering.
The global smart textiles market was valued at USD 795 Million in 2014 and is expected to reach USD 4.72 Billion by 2020, at a CAGR of 33.58% between 2015 and 2020.
Smart textiles or e-textiles are materials that can react or adapt to external stimuli (mechanical, electrical, thermal or chemical) or changing environmental conditions. The stimuli can include changes in temperature, moisture, chemical sources, electric or magnetic fields, PH, or stress. Ubiquitous mobile devices and a push towards connected living have created an increased interest in smart textiles. Flexible electronic products have enabled smart textiles to seamlessly integrate into everyday life.
The market for overall wearable electronics is on the rise. With the amalgamation of smart wearable technologies with clothing, major growth is expected for smart textiles. Smart textiles are expected to generate opportunities for various types of stakeholders, including developers, suppliers, materials and component manufacturers, nanotechnology developers, and other players in the electronics industry.
Smart and interactive textiles find their applications in various sectors such as military and defense, fitness clothing, and healthcare among others; and each sector has its individual components. Some of the common components used to make smart textiles are sensors, circuits, conductive fabrics created from metallic yarns, and other electronic elements.
Some of the driving factors for this market will be the need to improve athletic performance, need for improved health monitoring technologies, and rapid growth of smart sensing technologies among others. The market is nascent and emerging; it is expected to grow at a CAGR (compounded annual growth rate) of 33.58% between 2015 and 2020, although the market size in terms of value would vary according to the segments.
For smart textile providers, easy integration with garment makers and the need for generating awareness among end-users would be key factors to ensure the steady growth of this market in the future. Market ratings for key players in smart textiles market have been provided in the report based on recent developments, mergers and acquisitions, number of patents, prototypes or pilot study runs, R&D investments, market share in wearable electronics, and other factors.
In this report, the application areas of the market have been broadly segmented into military and protection, architecture, healthcare, sports and fitness, fashion and entertainment, automotive, and others.
- AIQ Smart Clothing Inc.
- Clothing Plus Ltd.
- E. I. Du Pont De Nemours and Company
- Gentherm Incorporated
- Google Inc.
- Interactive Wear AG
- Outlast Technologies LLC
- Schoeller Technologies AG
- Sensoria, Inc.
- Textronics, Inc.
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SOURCE Research and Markets