Smart Textiles Market Share, Growth To Reach USD 4.72 Billion By 2020
The Smart Textiles Market is expected to reach USD 4.72 Billion by 2020, at a CAGR of 33.6% between 2015 and 2020. This market is primarily driven by the uptrend in wearable electronics industry, increasing demand for sophisticated gadgets, miniaturization of electronic components, and a rapid growth of low-cost smart wireless sensor networks.
Smart textiles, also known as e-textiles, smart garments, smart clothing, or smart fabrics, are fabrics that are integrated with digital and electronic components. Many smart clothing, wearable technology, and wearable computing products involve the use of smart textiles. The key players in this industry are focusing on expansion through new product developments and partnerships to capitalize on the opportunities in the smart textiles market. Generally, the resources required for the smart textile industry to grow the business are easily available. The primary requirement for any company is the technical talent that would drive product innovation. The key success factor that is required for a firm is the ability to pull/attract qualified staff and retain them, in order to benefit from their technical expertise.
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The report provides information on trends in the smart textiles market along with the complete analysis of the industry for the next six years. It also provides key analysis on factors that drive and restrain the growth of the smart textiles market. The geographic segmentation in the report helps determine the market size in Americas, Europe, APAC, and RoW.
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.).
E.I. DuPont de Nemours (U.S.) mainly focuses on developing new products to grow in the smart fabrics market. The company continuously improves and expands its product portfolio to grow in the market and cater to customer needs effectively. In this regard, the company is focused on developing new technologies and products through investments in R&D. For instance, in 2014, the company launched its Tyvek Plus and Tyvek Xpert protective garments. Furthermore, in 2012, the company launched the Tyvek Classic Xpert protective garment, which can be used against infective agents and chemical permeation. This improved company‘s technological leadership in the smart textiles market.
Another major company in smart textiles market is Google Inc. (U.S.) which has recently entered into this market. Google launched a project named Project Jacquard, wherein the primary objective is to make it possible to weave touch and gesture interactivity into any textile using standard, industrial looms; with this project, Google is expected to grow and compete with other players in smart textiles market.
Target audience for this report:
- Companies in the smart textiles market
- Analysts and strategic business planners
- End users who want to know more about smart textiles and the latest technological developments in the smart textiles market
- Technology standards organizations, forums, alliances, and associations
- Governments, financial institutions, and investment community
- Research organizations
- Technology investors
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