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, 2014โ2022, 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.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ & ๐๐๐:ย 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 and 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, and water repellent properties, maintaining the breathability and tactile properties of the textiles.
High production costs, high toxic waste production, and a 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.
๐๐ง๐ญ๐๐ ๐ซ๐๐ญ๐ข๐จ๐ง ๐จ๐ ๐๐ฆ๐๐ซ๐ญ ๐๐๐ฑ๐ญ๐ข๐ฅ๐๐ฌ ๐๐ง๐ ๐๐๐๐ซ๐๐๐ฅ๐๐ฌ
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.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎโ๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ:ย https://www.alliedmarketresearch.com/request-for-customization/2185
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐ฆ๐๐ซ๐ญ ๐๐๐ฑ๐ญ๐ข๐ฅ๐ ๐๐๐ซ๐ค๐๐ญ:
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 ๐ซ๐๐ท๐๐๐ ๐ ๐ ๐ต๐๐๐๐๐๐ & ๐ช๐., ๐ฒ๐๐๐๐๐๐๐๐๐๐ ๐ป๐๐ ๐ช๐๐๐ ๐ต๐ฝ, ๐ป๐๐๐๐ ๐ฐ๐๐๐๐๐๐๐๐๐๐ ๐ฐ๐๐., ๐ฎ๐๐๐๐๐ ๐ฐ๐๐., ๐ฎ๐๐๐๐๐๐๐ ๐ฐ๐๐., ๐บ๐๐๐๐๐๐๐๐ ๐ป๐๐๐๐๐๐๐ ๐จ๐ฎ, ๐บ๐๐๐๐๐๐๐ ๐ฐ๐๐., ๐ป๐๐๐๐๐๐๐๐๐, ๐จ๐ ๐๐ ๐๐, ๐ถ๐๐๐๐๐๐.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ :ย https://www.alliedmarketresearch.com/purchase-enquiry/2185
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