Smart Textiles Market Opportunities and Challenges

Northbrook, USA, 2021-Oct-11 — /EPR Network/ —

According to the new market research report “Smart Textiles Market with COVID-19 impact analysis by Type (Passive, Active/Ultra-smart), Function (Sensing, Energy Harvesting & Thermo-electricity, Luminescence & Aesthetics), Vertical, & Geography – Global Forecast to 2026″,the smart textiles market is expected to grow from USD 2.3 billion in 2021 to USD 6.6 billion by 2026; it is expected to grow at a CAGR of 23.2% during the forecast period. The major driving factors for the growth of the smart textiles market include implementation of advanced technologies in smart textiles, miniaturization of electronic components, and expanding wearable industry among others.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=13764132

The sudden outbreak of the COVID-19 pandemic has impacted the demand for smart textiles, especially in 2020 and 2021. The pandemic has forced companies to adopt remote working practices. The imposition of lockdown in almost all the major countries to curb the spread of COVID-19 has disrupted the supply chain and halted manufacturing activities, resulting in delayed production. However, as a large share of the global population is working from home and preferring to perform fitness activities indoors attributed to social distancing guidelines, the demand for sports and fitness apparel/accessories integrated with smart applications and sensors that can monitor heart rate and oxygen level has increased, which is expected to boost the growth of the smart textiles market. Besides, hospitals in some countries, e.g., the US, are using smart textiles in various forms, such as heated blankets and socks, during the pandemic crisis.

Active/ultra-smart textiles segment to have largest market share during the forecast period

The active/ultra-smart textiles segment held the largest market share in 2020. Active/ultra-smart textiles are embedded with electronic components such as sensors and actuators, which can sense and react to stimuli. They are used to make outfits used by sports persons, firefighting teams, defense personnel (bulletproof jackets), and other professionals. The use of textile-based products can be more comfortable when the textile is able to react to the environment.

Sensing function to have the largest market size of smart textiles market during the forecast period

In 2020, the sensing segment held the largest market size of the smart textiles market and is expected to witness significant growth during the forecast period. Smart textiles find applications in the medical, sports, military, and aerospace sectors, where sensing and monitoring are already used and would only be made more efficient if integrated with textiles.

Military and protection vertical to have significant market size during the forecast period.

The military and protection segment is expected to hold significant market size of the smart textiles market during the forecast period. Smart textiles for military application offer various features such as advanced insulation properties and ballistics protection, as well as are made from waterproof fabric, while some are capable of health monitoring and equipped with GPS system, sensors, and motion trackers.

North America accounts for the largest share of the smart textiles market during the forecast period

North America accounted for the largest share of the smart textiles market due to several factors. One of the most important factors is technological innovations and advancements, which led to the introduction of new products. The increasing demand for smart textiles from the consumer electronics and medical industries has led to the growth of the smart textiles market in North America.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=13764132

The report profiles key players in the smart textiles market and analyzes their market shares. Players profiled in this report are DuPont (US), Alphabet (US), Jabil (US), AIQ Smart Clothing (Taiwan), Sensoria (US), Gentherm (US), Interactive Wear (Germany), Outlast Technologies (US), Adidas (Germany), Hexoskin (Canada), TenCate (Netherlands), Clim8 (France), Nike (US), Sensing Tex (Spain), Thermosoft International (US), Milliken & Company (US), Applycon (US), Peratech (UK), CHARNAUD (South Africa), Footfalls & Heartbeats (UK), Volt Smart Yarns (US), Samsung(South Korea), Ambiotex (Germany), Microsoft (US) and LifeSense Group (Netherlands).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com