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Global Smart Textiles for Wearable Technology Market Trends Analysis and Forecasts to 2021
June 14, 2016 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Global Smart Textiles for Wearable Technology Market: Trends Analysis and Forecast to 2021"report to their offering.
Globally the smart textile for wearable technology market is growing at a rapid pace, the author predicts the smart technology market to grow at a CAGR more than 30% by 2021.
Globally, the smart textiles were manufactured using woven or knitting technologies, however with the advancements in the printed electronics conductive inks can be printed on textiles. Dupont has invented conductive inks that can be printed on the textiles and can be used for longer period of time.
Smart textiles include conductive materials such as silver, copper, nickel. The smart fibers are manufactured by using yarn with woven or knitted interactive materials, which can interact with the environment or the user. Such textiles are also referred to as e-textiles. Smart fabric is a traditional fabric with added interactive functionality such as power generation or storage, sensing, radio frequency functioning, human interface elements and/or assistive technology.
Currently, the global smart textiles for wearable technology market is expected to grow at rapid pace. The growth in this market can be acknowledged to the drivers such as growing wearable electronics market, growing popularity of smart gadgets with advanced features, and growing demand for low cost smart sensors.
However, the growth in this market is expected to be restrained by high cost of production of smart textiles and compatibility issues. As per the study a majority of the revenue in the global smart textiles for wearable technology comes from its military and safety applications followed by home and architectural applications. Among the geographies Europe dominated the market in 2015 followed by North America. Asia Pacific region is expected to grow at the highest CAGR over the forecast period.
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