The global smart textiles market is projected to grow at significantly higher CAGR on account of increasing demand from major end uses such as textile, apparel, military and sports. Additionally, growing use of smart textiles on the backdrop of growing environmental concerns regarding pollution caused by synthetic fiber and textile industry. Increasing awareness about the benefits of natural fiber on the human health as well as on the environment, rising standard of living, growing population are some of the prominent factors driving growth of the market. Additionally, Smart Textiles industry growth typically follows the growth of these key end markets.
Top manufacturers in the 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).
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The global smart textile market is segmented on the basis of type, application, end use industry, and region.
By 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.
By 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 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.
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August 10, 2016- India based multinational group, which engages in development and sell of steel, textile and energy has recently announced its plans to launch smart home textiles with patented technology. The move is going to launch first of its kind technology but the company in India after successful launch in the U.S. few years ago. The technology is called HygroCotton, under which the company has filled 26 patents globally and launched smart textile products over the next three years. According to the company, they are registering 15% year on year growth, which is attributed to the changing consumer sentiments in the Indian subcontinent.
July 27, 2017- The Taiwan External Trade Development Council (TAITRA), which confers the symbol Taiwan Excellence to honor Taiwan’s most innovative products that provide tremendous value to users worldwide, has hosted the Taiwan New Products Launch at the Outdoor Retailer Summer Market at Utah. In this event four Taiwan based leading textile manufacturers exhibited their innovative products. These new products included smart textiles which measures heart rate and motion data, textile innovations using little chemicals, and cutting edge fabric printing technology among others. This is likely to showcase to the world the vast potential of Asia Pacific in the global smart textile market.
June 19, 2017- Advanced Functional Fabrics of America (AFFOA), the U.S. based public-private partnership, which is a part of Manufacturing USA, working in the field of smart textiles to develop and introduce the U.S. made high end smart fabrics providing services such as health communications, monitoring, and having dynamic design, has launched the state-of-the-art facility for prototyping advanced fabrics. After opening of this, the company has unveiled two products ready for commercialization.
November 16, 2017- The Swedish government has recently been in talks with India based one of the leading conglomerate Aditya Birla Group for a joint venture to develop smart textiles. On signing the agreements between two governments the Swedish firm Domsjo and India’s Birla group will start manufacturing smart fabrics in India. Swedish government is looking forward to scale up its investments to support the textile industry in lucrative Indian market and also improve bilateral trade between the two countries.
- Smart textile Manufacturers
- Traders and distributors of smart textile
- Potential investors
- Raw material suppliers
- Nationalized laboratory
- Research and development institutes
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