The global smart fabrics market is prognosticated to be pampered by a surge in demand on the back of the rising prominence of the miniaturization of electronics and growth of the wearable electronics sector. There is a soaring demand for smarter and more sophisticated gadgets gaining impetus from the emergence of smart technology.
Smart clothing is part of an exciting technology that involves building computing, connectivity, and sensing abilities into materials people are comfortable wearing. The ease of use of smart fabrics and integration of electronic devices in fabrics, makes it an integrated device for normal use as a simple fabric, which further contributes to the flourishing global smart fabrics market.
Recently, a new study has been published to the online repository of Market Research Hub (MRH), which is titled as “Smart Fabrics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022”. The main motive of the study is to provide an in-depth analysis of the market trends, factors in the current market along with industry growth prospects from 2012 to 2017, and forecast to 2022.
To provide better and accurate results, the report majorly focuses on some of the prime regions including the Middle East and Africa (MEA), Europe, Asia Pacific except Japan (APEJ), North America, and Latin America.
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Smart fabrics, also known as smart textiles are the fabrics that have electronics and digital components embedded in them. Such garments range from jackets to underwear, which can monitor health parameters, activity, location and more.
Prime applications where smart fabrics are used include sports and fitness, medical and healthcare, automotive and transportation, protection and safety/military, fashion and entertainment, home and architecture. Due to the growing demand in the sports, fitness and military sector, there could be several opportunities taking shape in the world smart fabrics market.
According to the key findings, the world smart fabrics market is foreseen to welcome a significant growth in demand in the coming years due to the availability of a broad range of applications and the strong, bendable and lightweight characteristics of products. The global smart fabrics market is prognosticated to be pampered by a surge in demand on the back of the rising prominence of the miniaturization of electronics and growth of the wearable electronics sector.
Research estimates that the growth in smart fabrics market envisaged to be valued at a US$5.5 bn by the end of 2022, progressing from a US$2.2 bn attained in 2017, at a 19.6% CAGR. In terms of geography, North America is projected to set the tone for growth in the market with a higher revenue to be achieved in 2022.
In 2017, it earned a US$0.8 bn.
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This report further also sheds light on crucial aspects such as internet of things (IoT) and ecosystems as the future of the smart fabrics industry. It has been analyzed that the internet of things has made everything connected.
Smart fabrics are a prominent part of this technological transformation and also will play a very important role in the future as well with growing demand in a wide range of applications like Transportation, Healthcare, Military, Sport/Fitness and Entertainment.
Companies such as Adidas AG, Outlast Technologies LLC, Nike, Inc., Milliken & Company, Schoeller Textil AG, Toray Industries, Inc., Infineon Technologies AG, Oneill Wetsuits L.L.C., Clothing Plus Oy, and Ohmatex Aps are predicted to make their presence known in the worldwide smart fabrics market
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