Published on : Nov 01, 2016
ALBANY, NY, Nov 01, 2016: China is always known for inventing something out of the box. Chinese researchers have recently announced their plans to introduce new smart textiles that can produce as well as store a large amount of solar energy. Many Chinese manufacturers are aiming to manufacture new smart textiles that can be easily tailored like cotton and store solar energy. Rising research and development activities have led to the introduction of garments that are more than just fabrics. The rising varieties in smart textiles is likely to propel the global smart textiles market, says ResearchMoz in a new report added to its expanding database of research reports.
The report, titled “Global Smart Textiles Market 2016-2020,” states that the global market is expected to exhibit a 24.60% CAGR from 2016 to 2020. This global market is expected to benefit from the rising demand for smart textiles from the healthcare industry and the rise in the incorporation of BLE technology. The healthcare industry is developing at a significant rate. The demand for smart textiles from hospitals and healthcare clinics is increasing globally, which is a key factor expected to propel the sales of smart textiles. However, the global smart textiles market will be challenged by the constraints in integrating electronic components into textiles.
The global smart textiles market is spread across many regions across the globe. By geography, the global market is divided into North America, Asia Pacific, Europe, and Rest of the World. The global market for smart textiles is fragmented in nature with key companies aiming to capture the untapped market across all emerging nations. Some of the leading companies operating in the global smart textiles market are Clothing+, Interactive Wear, Intelligent Clothing, Ohmatex, Sensoria, Infineon Technologies, Texas Instruments, Schoeller Textil, and International Fashion Machine.
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Considering the growth opportunities in the global smart textiles market, it is expected that in the coming years, new companies will come up with their new smart textiles. This is predicted to make the global market highly competitive. However, to maintain its dominance, key companies are likely to merge with the startups.
Key companies are concentrating on the growing demand for smart textiles from end-use industries such as healthcare, medical industries, transportation, sports and fitness, architecture, military and protection, and fashion and entertainment. Innovative smart textiles introduced by key companies will benefit the global market, in the long run, predict the analysts.
As textiles can be bent to any shape, they are easily integrated with various electronic components in order to manufacture revolutionary products. Smart textiles or interactive textiles are primarily integrated with various electronic components for communication, sensing, heat management, health monitoring, and illumination. The rising application of smart textiles is expected to propel the global market in the long run.
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