Published Date : Jul 24, 2017
ALBANY, New York, July 24, 2016: A new report on the global market for smart textiles has been recently added to the repository of MarketResearchReports.biz. The research study, titled “Global Smart Textiles Market 2015 - 2019,” provides an exhaustive assessment of this market, highlighting the prominent trends, driving forces, lucrative opportunities, restraints, and growth prospects.
According to this research report, the worldwide market for smart textiles is undergoing a phase of continual rise, thanks to the increasing usage of these textiles into the military and protection, sports and fitness, architecture, transportation, medical, fashion and entertainment, and several other sectors. Their increasingly expanding application base is anticipated to add remarkably to the growth of this market in the years to come.
Researchers projects this market to progress at a healthy CAGR of 18.20% during the period of 2014 to 2019. The rising demand for smart textiles in tele-health services and the augmenting requirement for flexible and lightweight and fabrics are expected to boost this market over the next few years. However, the need for effective power supply continually may hamper the growth of this market in the near future, notes the research study.
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In terms of the geography, the research report has bifurcated the worldwide market for smart textiles into Europe, Asia Pacific (APAC), North America, and THE Rest of the World (RoW). Thanks to the early adoption of technology, North America has been leading the overall market and is predicted to continue on this position over the period of the forecast. With ample of untapped opportunities, Asia Pacific is anticipated to emerge as the most promising regional market for smart textiles across the world in the years to come, states the market report.
In this research study, the competitive landscape of the worldwide market for smart textiles has also been examined at length. As per the report, the market demonstrates a highly fragmented structure, thanks to the presence of a large pool of large, med-, and small-sized players. At the forefront of this market are Infineon Technologies, Texas Instruments, and Ohmatex ApS. These players are expected to focus on innovation and technological advancements to gain an edge over their competitors in the years to come.
Other prominent players in the global smart textiles market are Mide Technology, Noble Biomaterials, Toray Industries, Milliken, Koninklijke Ten Cate NV, Smartex s.r.l, Gentherm, Philips, Weartech, International Fashion Machines, Marktek, VivoMetrics, Clothing+, QinetiQ North America, Outlast Technologies, Kimberly-Clark Health Care, Globe Manufacturing, Fibretronic, Schoeller Textil, Adidas, Auxetic, Interactive Wear, Eleksen, Exmovere Holdings, Exo2, Performance Fibers, Textronics, Peratech, Nike, Sensium Healthcare, states the research report.
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