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Smart And Interactive Textiles Market size will surpass USD 6.5 billion by 2024. According to a new research report by Global Market Insights, Inc. Continuous developments in disease prevention and treatment procedures have inspired doctors for using textiles equipped with sensor for superior results in the recent years.Smart fabrics are gaining popularity in applications such as wound dressing with bandages, pH sensors, hospital beds, gowns as well as bio-monitoring of neural, cardiovascular, respiratory and muscular activities. This portrays brighter growth aspects for the product demand in the forecast period.
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The telehealth devices and services industry is likely to observe exponential growth with the CAGR over 50% in the coming years, driving the product market demand. Many developed economies have instigated telemonitoring programs with smart textiles particularly for cardiac patients to reduce the hospital readmission costs by consistent recording and monitoring the data using the clothing equipped with sensor.
Market retain price and higher cost of product manufacturing as compared to the conventional fabrics might act as a threat to the growth of smart and interactive textiles market in the near future. However, with integration of specialized actuators and sensors, the product bears vast technology orientation in order to deliver the desired applicability and hold brighter growth prospects.
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Wearable electronics are prevalent among the sports enthusiasts and tech-savvy population, owing to their unique features such as integration with actuators and sensors for monitoring the metabolism of athletes, soldiers, cardiac patients and even car and motorbike racers. Also, easy gadgets connectivity, like tracking devices, mobile phones, headphones, etc. will rise their acceptance and flourish the market at a significant rate in the near future.
Chromic materials segment is expected to boost the smart and interactive textiles market growth with their increasing popularity in the developed economies in the forecast period. Their unique capabilities to react to exterior stimuli like electricity, heat, light, pressure, as well as the absence or presence of certain gas and liquid media, will be the drivers to the product popularity by 2014.
The Smart And Interactive Textiles Market is probable to observe significant demand for a range of applications in medical & healthcare, transportation, military & defense, industrial and retail & consumer sectors. Also, few other demand prospects will be associated with segments including aircrafts, space activities, marine, automobiles, household applications, rail coaches, etc. Transportation sector is likely to be a significant segment among all, having over USD 1.5 billion revenue forecast by 2024. The growth is attributed to the rising concerns regarding passenger comfort and safety.
Partial Chapter of the Table of Content:
Chapter 3. Smart And Interactive Textiles Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
3.4.1.1. Rapidly developing medical and healthcare sector
3.4.1.2. Increasing acceptance in automobile sector
3.4.1.3. Growing sports and fitness applications
3.4.2. Industry pitfalls & challenges
3.4.2.1. High product manufacturing cost
3.5. Growth potential analysis
3.6. Regulatory trends
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
3.7. Porter’s analysis
3.8. Company market share analysis, 2015
3.8.1. Strategic landscape
3.9. PESTEL analysis
3.10. Regional price trends
3.10.1. Cost structure analysis
3.10.2. Raw material trends
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Key market players are Toray Industries, DuPont, Sensoria, Inc, Koninklijke Ten Cate, Textronics, Inc, Globe Holding Company, Interactive Wear, Milliken & Company, Indorama Ventures, Schoeller Textil, D3O Lab, Outlast Technologies, EXO2 and AiQ Smart Clothing Inc.
Contact Info:
Name: Arun Hedge
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/smart-and-interactive-textiles-market
Release ID: 88929348
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