Smart and Interactive Textiles Market to Stand at US$3.8 Billion by 2020, Up From US$1.53 Billion in 2013: Transparency Market Research
By Business Wire News
By Business Wire News
The global smart and interactive textiles market is poised for robust growth over the current decade with burgeoning demand from the transportation and healthcare industries, says Transparency Market Research in its latest report. The global market for smart and interactive textiles stood at US$1.53 bn as of 2013. The market will register a 14.0% CAGR between 2014 and 2020 to breach US$3.8 bn by 2020. These findings are published in a report, titled ‘Smart and Interactive Textiles Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014–2020.’
Browse Research Report:http://www.transparencymarketresearch.com/smart-fabrics-and-interactive-textiles-market.html
The report also states that the growing demand for interactive and smart textiles from the sports industry will fuel the market’s growth. But on the other hand, smart textiles are priced several times higher than conventional textiles. This will inhibit growth to a great degree, say TMR analysts.
The report segments the global interactive and smart textiles market on the basis of applications into: Industrial, transportation, medical and healthcare, military and defense, retail and consumer, and others. In 2013, the transportation industry represented over 38.0% demand for smart and interactive textiles globally. However, the automotive industry is now waking up to innovative ways in which smart textiles can be integrated into vehicles. However, the analysis conducted by TMR shows that use of smart textiles will soar in industrial applications in the future.
With a valuation of US$632.0 mn in 2013, the Europe smart and interactive textiles market was the largest globally. The Asia Pacific market is projected as being the fastest growing over the next few years. E.I du Pont de Nemours and Company, Intelligent Clothing Ltd., and Fibretronic Limited are some of the players profiled in the report.
Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.