DALLAS, July 29, 2015 /PRNewswire/ --
According to a new market research report "Smart Textiles Market by Type (Passive, Active, Ultra-smart), Function (Sensing, Energy Harvesting, Luminescence & Aesthetics, Thermo-electricity), Industry (Healthcare, Sports & Fitness, Fashion, Military, Automotive), & Geography - Global Forecast to 2020", published by MarketsandMarkets, the total market was valued at USD 794.55 Million in 2014 and is expected to reach USD 4,722.81 Million by 2020, at a CAGR of 33.58% between 2015 and 2020.
Browse 68 market data Tables and 59 Figures spread through 160 Pages and in-depth TOC on "Smart Textiles Market"
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During the last decade, there have been strategic and developmental changes in the conventional textile industry with regard to convergence with the electronics industry; this has led to innovation and development of new textile and wearable products with advanced functionalities. This consolidation of two sectors- textile and electronics has resulted in the development of smart textiles. Smart textiles represent the next generation of fibers, textiles integrated with electronics and products produced from them. They can be described as textiles that think and respond to a situation. Many smart textiles have already featured in advanced types of clothing, primarily for protection and safety, and added fashion or ease. Smart textiles have a huge growth potential and application in various sectors such as defense, automotive, and entertainment among others, across the globe. The smart textiles market based on the type has segmented into passive smart, active smart, and ultra-smart textiles.
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The report covers key application areas of the Smart Textiles Market, which include military and protection, architecture, healthcare, sports and fitness, fashion and entertainment, automotive, and others. Among all sectors, smart textiles are expected to have the largest application in the military and protection sector, accounting ~27% of the total market share. The smart textiles market in different geographic regions including the Americas, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW) has also been covered in the report. The Americas were the largest market for the smart textiles in 2014. However, APAC is expected to grow at the highest CAGR during the forecast period.
The report profiles major players with a SWOT analysis of the top five players in the smart textiles market. The market is expected to witness a series of new product launches, announcements, and partnerships during the forecast period. The key companies in this market include E.I. DuPont de Nemours and Company (U.S.), Google Inc. (U.S.), Intelligent Clothing Ltd. (U.K.), International Fashion Machines, Inc. (U.S.), Interactive Wear AG (Germany), Schoeller Textiles AG (Switzerland), Textronics, Inc. (U.S.), Vista Medical Ltd. (Canada), Textronics, Inc. (U.S.), Gentherm Incorporated (U.S.), and Sensoria Inc. (U.S.).
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