Smart Textile Market Application:
By the application, the market is categorized into sensing, architecture, medical, energy harvest, thermo-electricity, and others. The sensing segment is growing at a robust growth rate during the review period. This growth trend is primarily attributed to the increasing demand for the protective gears with health tracking devices. Also, the sensing is the most significant characteristic of the smart textiles.
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AiQ Smart Clothing
Outlast Technologies LLC
Thermosoft International Corporation
On the basis of the type, the market is divided into passive smart textile, active smart textile, and very smart textile. Among these segments, the passive smart textile is holding the largest share of the market on account of lower cost as compared to its counterpart and relative lesser complex operations.
Based on the end use industry, the global smart textile market is classified into military & defense, building & construction, automotive, textile, medical, sports, and others. The military & defense segment is the largest consumer of smart textiles, which is holding over 30% share of the market. This is majorly attributed to the continuously increasing global threat driving the huge investment in defense expenditure by the major countries such as India, China, the U.S., and Russia.
For Further Information, Click Here @ https://www.marketwatch.com/press-release/smart-textile-market-global-analysis-upcoming-trends-growth-by-companies-competition-by-type-region-and-application-business-forecast-to-2023-2018-12-26
Asia Pacific is projected to grow at the highest CAGR due to the surging demand from automotive, defense and sports industry, along with the building & construction industry. The major market in this region are India, China, South Korea, and Japan.
North America is the second most significant region, in terms of the growth rate, in the global smart textile market. The U.S. is the largest contributor to the regional market on account of considerable presence of well-established and leading end use industries such as aerospace & defense, and marine.
Europe is also an important region in the global smart textile market. The leading markets in this region are the U.K., Germany, France, and Italy, wherein the demand for smart textiles is mainly fetched by the automobile industry.
In the recent years, Latin America is witnessing a rapid industrialization and pacifying political and economic conditions in Brazil and Colombia. Lastly, the Middle East & Africa is also anticipated to gain a momentum on the backdrop of increasing demand from construction and automotive industry.
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