SELLBYVILLE, Del., Nov. 24, 2017
/PRNewswire-iReach/ -- Excellent growth prospects have been
forecast for Smart And Interactive Textiles Market over the
forthcoming years, essentially pertaining to the increasing demand
for low weight, smart, and comfortable fabrics for better athletic
performance and comfort while driving automobiles. The rapidly
changing consumer trends toward comfort and luxury, their rising
disposable incomes, and the subsequently high purchase parity are
key factors that are slated to augment the expansion of smart and
interactive textiles industry over the coming years. As per
reliable estimates, global smart and interactive textiles market is
anticipated to cross a valuation of USD 6.5
billion by 2024, with a CAGR projection of 14% over
2016-2024
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Smart and interactive textiles market has been mainly segmented
into chromic materials, wearable electronics, and others such as
anti-microbial textiles, self-cleaning textiles, geotextiles, etc.
on the basis of product types. Wearable electronics are popular
among the tech-savvy and sports enthusiast population and will
flourish at a significant rate in the coming years.
Chromic materials are designed to react to external stimuli such
as heat, pressure, light, electricity, or even the presence or
absence of certain liquid and gas media. This segment will likely
augment the smart and interactive textiles market growth with its
growing popularity among the households of the developed
nations.
Smart and interactive textiles market applications include
transportation, medical & healthcare, industrial, military
& defense, retail & consumer, and others such as space
activities, household applications, etc. Extensive product
application in aircrafts, automobiles, ships, rail coaches, etc. to
develop the aesthetic and safety characteristics makes
transportation sector a significant application segment with a
market revenue forecast at more than USD 1.5
billion in the year of 2024.
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In 2024, medical & healthcare application will likely
generate a revenue close to USD 450
million for the overall smart and interactive textiles
market and witnessing growth at a rapid pace in forecast years.
Rising product acceptance in manufacturing smart dressings,
self-cleaning gowns, and smart hospital beds will boost the growth
during the forecast spell.
Europe will account for more
than a fifth of the global smart and interactive textiles market in
2024 on the account of a sluggish growth owing to the rapid
developments in the application sectors in the regions of
North America and Asia Pacific. Growing military expenditures,
particularly in the U.S., China,
and North Korea, will boost the
growth in these regions in the forecast spell. The tech-savvy
population of China, Japan, and South
Korea will further propel the Asia
Pacific smart and interactive textiles market growth.
Notable smart and interactive textiles market players include
DuPont, Toray Industries, Koninklijke Ten Cate, Sensoria, Inc,
Textronics, Inc, Interactive Wear, Globe Holding Company, Milliken
& Company, Schoeller Textil, Indorama Ventures, Outlast
Technologies, AiQ Smart Clothing Inc, EXO2, and D3O Lab.
Browse key industry insights spread across 85 pages with 96
market data tables & 13 figures & charts from the
report,"Smart And Interactive Textiles Market Share &
Forecast, 2016 – 2024" in detail along with the table of
contents:
https://www.gminsights.com/industry-analysis/smart-and-interactive-textiles-market
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