The Global Smart Textiles Market was evaluated around USD 0.72 billion and is expected to reach approximately USD 6.80 billion by 2022 while registering itself at a compound annual growth rate (CAGR) of 28.41% over the forecast period.
Key factors affecting on global Smart Textiles Market:
The growing popularity of advanced gadgets with diverse technologically advanced operations such as reacting and sensing to the surrounding is expected to boost the demand. The declining costs of manufacturing of fabrics and electronic components together with the electronics miniaturization are projected to fuel the market during the forecast years.
Elements like sensor units, actuators, and controllers are integrated into these fabrics for appropriate performance. The smart textiles are utilized by the military professional for safety and protection purpose and by the customer as a clothing entity. The expansion was primarily driven by fitness & sports application.
These products have a massive growth potential due to their applicability over several sections like automotive, entertainment, and defense which consecutively expected to drive the industry growth over the forecast years.
The increase in demand can also be assigned to the advent of advanced fibers and conductive materials that are utilized to produce these fibers. Nanotechnology has assisted in the formation of these intelligent textiles at a microscopic level as well as in the army equipment & uniforms development.
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