Smart Textile Market Growth and Business Opportunities in Coming Years: Allied Market Research

WILMINGTON, DE, UNITED STATES, September 18, 2024 /EINPresswire.com/ -- Allied Market Research, titled, Smart Textile Market by Function, and by End-User Industry - Global Opportunity Analysis and Industry Forecast, 2014 2022 the global smart textile market was valued at $943 million in 2015, growing at a CAGR of 28.4% during the forecast period to reach $5,369 million by 2022. In 2015, the military & defense segment accounted for one-fourth of the total share, in terms of revenue.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/2185

The significant factors driving smart textile market growth include the integration of wearables and smart textiles, increasing use of nanotechnology, and its application in smartphones & other sophisticated gadgets. The electronic components can be miniaturized and integrated with smart textiles, which help to monitor and regulate body temperature, monitor heartbeat, and protect the body from outside radiation. In addition, the application of nanotechnology is extended with the production of nanofibers. The use of nanofibers in the fabric is applied widely in the smart textile industry to enhance the performance and functionality of the textile. It provides textiles with anti-bacterial, UV-protection, self-cleaning, water repellent properties, maintaining the breathability, and tactile properties of the textiles.

High production costs, high toxic waste production, and lack of government policies encouraging smart textiles are some factors that are expected to hinder the growth of the smart textile market while increasing research and development in the smart textile industry is acting as one of the major opportunities for the global smart textile market.

𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐒𝐦𝐚𝐫𝐭 𝐓𝐞𝐱𝐭𝐢𝐥𝐞𝐬 𝐚𝐧𝐝 𝐖𝐞𝐚𝐫𝐚𝐛𝐥𝐞𝐬
With the integration of electronic components in smart textiles, they are used in various applications such as health management, actuation, response, and communication. They consist of components such as sensors, actuators, control units, and others. Wearable technology mainly concerns textiles, electronic devices, and apparel. These textiles help to control muscle vibrations, regulate body temperatures, and protect from environmental hazards such as radiation. As electronic components can be miniaturized, it is possible to integrate textiles and electronic components. These are the factors that are driving the global smart textile market.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/2185

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐦𝐚𝐫𝐭 𝐓𝐞𝐱𝐭𝐢𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭:

- North America is expected to continue to lead the market during the forecast period followed by Europe.
- The military & defense end-user segment generated the highest revenue and is projected to grow with a CAGR of 27.3% during the forecast period.
- Sports & fitness is the fastest-growing end-user segment in the smart textile market registering a CAGR of 30.4% during the forecast period.
- Latin America accounted for more than one-third share of the LAMEA smart textile market in 2015.
- The Indian market is growing at a faster rate than the Asia-Pacific smart textile market, registering a CAGR of 31.8% from 2016 to 2022.
- Germany accounted for more than one-fourth of the share in the European smart textile market in 2015.

Asia-Pacific and Europe collectively contributed more than half of the share of the global smart textile market by revenue in 2015. Asian countries such as China, Japan, and India have transformed into manufacturing hubs for smart textiles owing to the low cost of labor and will be the fastest-growing regional market for smart textiles.

Major players that operate in this market are 𝑫𝒖𝑷𝒐𝒏𝒕 𝒅𝒆 𝑵𝒆𝒎𝒐𝒖𝒓𝒔 & 𝑪𝒐., 𝑲𝒐𝒏𝒊𝒏𝒌𝒍𝒊𝒋𝒌𝒆 𝑻𝒆𝒏 𝑪𝒂𝒕𝒆 𝑵𝑽, 𝑻𝒆𝒙𝒂𝒔 𝑰𝒏𝒔𝒕𝒓𝒖𝒎𝒆𝒏𝒕𝒔 𝑰𝒏𝒄., 𝑮𝒐𝒐𝒈𝒍𝒆 𝑰𝒏𝒄., 𝑮𝒆𝒏𝒕𝒉𝒆𝒓𝒎 𝑰𝒏𝒄., 𝑺𝒄𝒉𝒐𝒆𝒍𝒍𝒆𝒓 𝑻𝒆𝒙𝒕𝒊𝒍𝒆𝒔 𝑨𝑮, 𝑺𝒆𝒏𝒔𝒐𝒓𝒊𝒂 𝑰𝒏𝒄., 𝑻𝒆𝒙𝒕𝒓𝒐𝒏𝒊𝒄𝒔, 𝑨𝒅𝒊𝒅𝒂𝒔, 𝑶𝒉𝒎𝒂𝒕𝒆𝒙.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/2185

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use various tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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