Thu, 28 Oct 2021

The global smart textile market is growing rapidly, witnessing significant demand from the military & defense, sports, and, more importantly, the healthcare industry. Smart garment/textile is specially designed for defense applications with multispectral camouflage in both static and moving positions. It helps soldiers in CBR threat monitoring by detecting the presence of hazardous agents, such as H2S, NO2, Cl2, and provides warnings accordingly.

Initially designed for militaries, smart textiles soon found usage in sport and healthcare due to their multifunctional prototype. Flame retardancy, water & dirt repellence, and anti-mosquito solutions qualities, that smart textile demonstrates, soon attracted the sports community. But what has drawn healthcare towards smart textile is the capability to measure vital body signs and control microbe transmission and body temperature.

Smart textile measures body vital signs – pulse rate, heart rate, and also communicates info via an app in the Smartphone through the embedded system. The smart textile can regulate body temperature by cooling and heating through monitoring of the ambient temperature. Smart garments can sense and measure deformations in the fabric, employing conductive ink and waterproof circuitry, which also makes it washable smart textile.

Resultantly, the smart textile market is garnering tremendous traction worldwide. According to Market Research Future (MRFR), the global smart textile market is poised to grow at an impressive CAGR during the anticipated period (2018-2023). Smart textile's remote monitoring capabilities are proving to be valuable during the COVID-19 pandemic, allowing caregivers to stay engaged with and care for their patients remotely.

Limiting in-clinic visits to emergencies, physicians deliver additional services through remote patient monitoring services. A UK-based smart textiles company Footfalls & Heartbeats is using knitted smart textiles to make non-medical masks. The company had developed knitted smart textiles that use nanoscale interactions within the textile to make the fabric itself a sensor. The technology was originally developed for smart leg ulcers bandages and is now used to create masks with zinc oxide coated antibacterial yarn that can sense breathing rates for home monitoring patients.

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This shows that the uptake of smart textiles is expected to increase exponentially hereafter, driving the growth of the market. Besides, rising healthcare budgets and healthcare expenditures would increase the market size. Also, substantial R&D investments, alongside industry players' efforts and technology launches, would accelerate the growth of the market.

Global Smart Textile Market – Segments

The report is segmented into four dynamics;

By Types: Passive Smart Textile, Active Smart Textile, Very Smart Textile, and others.

By Application: Sensing, Architecture, Medical, Energy Harvest, Thermo-Electricity, and others.

By End-Use Industry: Military & Defense, Building & Construction, Automotive, Textile, Medical, Sports, and others.

By Regions: Americas, Europe, Asia Pacific, and Rest-of-the-World.

Global Smart Textile Market – Regional Analysis

North America dominates the global smart textile market. The largest market share attributes to the increasing demand from major end-use industries such as military & defense and sports. Besides, the presence of a considerable number of industry players and a well-established defense sector increases the market share. The US accounts for a significant share in the regional market due to increasing spending to strengthen its defense sector. The North American smart textile market is projected to retain its leading position in the global market throughout the estimated period.

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Asia Pacific region stands second in the global smart textile market. The market is driven by the growing public investment in the marine, defense, and aerospace sectors. India, China, South Korea, and Japan are major growth contributing countries in the regional market. Additionally, growing foreign investments and high budget allocation by governments in the defense sector boosts the market demand. The APAC smart textile market is forecasted to create a substantial revenue pocket during the assessment period.

Europe's smart textile market is growing rapidly. Factors such as the presence of major end users of smart textiles in this region, such as automotive, aerospace, and textiles industry, drive the market growth. Moreover, well-established healthcare sectors in this region positively impact the market growth, driving the demand for smart textiles. France, the U.K, Germany, and Italy are major contributors to the regional market growth. The European smart textile market is expected to grow at a significant CAGR during the forecasted period (2018 – 2023).

Global Smart Textile Market – Competitive Analysis

Highly competitive, the global smart textile market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players in corporate strategic initiatives such as mergers & acquisitions, expansion, and product/technology launch.

Major Players:

Players leading the global smart textile market include Google Inc. (US), Interactive Wear AG (Germany), AiQ Smart Clothing (Taiwan), Clothing+ (Finland), GENTHERM (US), Textronics, Inc. (the US), Sensoria Inc. (US), Outlast Technologies LLC (US), Ohmatex ApS (Denmark), and Thermosoft International Corporation (US), among others.

Industry/Innovation/Related News

May 27, 2020 —- Siren Care (the US), a medical device company, announced raising USD 11.8 MN funds to power commercial expansion of its smart fabric remote patient monitoring solution. Siren has developed a breakthrough technology to embed microsensors in fabric, allowing for mass production of affordable, washable smart textiles with remote patient monitoring applications. The funding is led by Anathem Ventures and existing investors DCM, Khosla Ventures, 500 Startups, and Peter Thiel's Founders Fund.

About Market Research Future:

Market Research Future (MRFR) has created a niche in the world of market research. It is counted among the top market research companies that offer well-researched and updated market research reports and insights to businesses of all sizes. What sets us apart is our super-responsive team that offers quality work keeping clients abridged of the prospective challenges and opportunities in various markets. Our team is adept in their space as well as patiently listens to every client.

The best part is they know their work inside out and possess the expertise to guide the client in the right direction and achieve results on a tight deadline. We are a one-stop solution for all your data research needs. Our team does not believe in the "one size fits all" approach to creating a report that is detailed and concise. We handle 13 industry verticals including Healthcare, Chemicals and Materials, Information and Communications Technology, Semiconductor and Electronics, Energy and Power, Food, Beverages & Nutrition, Automobile, Consumer and Retail, Aerospace and Defense, Industrial Automation and Equipment, Packaging & Transport, Construction, and Agriculture. With our unique approach for every market report, we aim to reach the zenith in qualitative business intelligence and syndicated market research.

Ref:

https://www.prnewswire.com/news-releases/siren-raises-11-8-million-to-power-commercial-expansion-of-its-smart-fabric-remote-patient-monitoring-solution-301065722.html

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