Smart
textiles are also known as smart clothing or smart garments. They are
the fabrics, which have digital components such as light, battery, smart
chips, and other small electronic devices fitted into it. Such fabrics
are innovatively designed and engineered to meet the requirements of
major end user such as military, sports, textile, automotive, and
healthcare. Based on the functioning of the fabric, there are two major
types of the smart textiles namely: performance enhancing and aesthetic.
The performance enhancing is a type of smart textiles, which is mainly
used in athletic, sports and military applications. They control body
temperature and weight, wind drag and external vibrations to improve the
performance of an athlete. On the other hand, the aesthetic smart
fabrics light up or change color, can absorbs energy from environment by
harnessing ambient light, wind vibrations, and heat by reacting with
them. As per some leading research institutes, the global aerospace core
material market is estimated to reach nearly USD 40 billion by the end
of 2023, growing at a considerable growth rate of around 9% . This, in
turn, is likely to boost demand for the smart fabrics in manufacturing
aerospace composites during the review period.
Market Segmentation
The global Smart Textile Market is segmented on the basis of type, application, end use industry, and region.
On
the basis of the type, the market is divided into passive smart
textile, active smart textile, and very smart textile. Among these
segments, the passive smart textile is holding the largest share of the
market on account of lower cost as compared to its counterpart and
relative lesser complex operations.
By
the application, the market is categorized into sensing, architecture,
medical, energy harvest, thermo-electricity, and others. The sensing
segment is growing at a robust growth rate during the review period.
This growth trend is primarily attributed to the increasing demand for
the protective gears with health tracking devices. Also, the sensing is
the most significant characteristic of the smart textiles.
Based
on the end use industry, the global smart textile market is classified
into military & defense, building & construction, automotive,
textile, medical, sports, and others. The military & defense segment
is the largest consumer of smart textiles, which is holding over 30%
share of the market. This is majorly attributed to the continuously
increasing global threat driving the huge investment in defense
expenditure by the major countries such as India, China, the U.S., and
Russia.
Regional Analysis
The
global smart textile market is geographically spanned across five major
regions: North America, Asia Pacific, Europe, Latin America, and the
Middle East & Africa. Among them, Asia Pacific is projected to grow
at the highest CAGR due to the surging demand from automotive, defense
and sports industry, along with the building & construction
industry. The major market in this region are India, China, South Korea,
and Japan. North America is the second most significant region, in
terms of the growth rate, in the global smart textile market. The U.S.
is the largest contributor to the regional market on account of
considerable presence of well-established and leading end use industries
such as aerospace & defense, and marine. Europe is also an
important region in the global smart textile market. The leading markets
in this region are the U.K., Germany, France, and Italy, wherein the
demand for smart textiles is mainly fetched by the automobile industry.
In the recent years, Latin America is witnessing a rapid
industrialization and pacifying political and economic conditions in
Brazil and Colombia. Lastly, the Middle East & Africa is also
anticipated to gain a momentum on the backdrop of increasing demand from
construction and automotive industry.
Competitive Analysis
Some
of the key players in the global smart textile market are Wear AG
(Germany), Google Inc. (U.S.), AiQ Smart Clothing (Taiwan), GENTHERM
(U.S.), Clothing+ (Finland), Textronics, Inc. (U.S.), Outlast
Technologies LLC (U.S.), Sensoria Inc. (U.S.), Thermosoft International
Corporation (U.S.), and Ohmatex ApS (Denmark).
Access Report Deatails @ https://www.marketresearchfuture.com/reports/smart-textile-market-5477
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