Global Smart Fabric Market Outlook
The global textile and garment industry forms a critical factor for world trade flows specifically in developing countries where clothing accounts for a large proportion of large exports. In 2017, the industry was being valued at US$ 3 trillion which also includes the production, refinement as well as the sale of synthetic and natural fibers used in various industries. The global textile market is further segregated into fibers, yarn, fabrics and garment sectors. China accounts to largest global production share for textile products. However, over the past couple of years, the global fabric industry has been enduring with new trends which cater to the varying needs and requirements of its target customers. In every interval of time, the industry has been evolving in terms of its product offerings. Just like smartphones, smart watches or the smart homes gaining traction among its customers, the fabric industry has been witnessing a new trend with the introduction of smart fabrics into the global market.
Global Smart Fabric Market: Reasons for Covering this Title
Smart fabrics is a new kind of innovation that is being adopted by the fabric industry which facilitates its customers with various easy accessibilities in terms of aesthetic and performance factor. Owing to the fact that most of the consumers adopting a busy lifestyle accounting on rising in a number of working population, now the consumer desire for easy accessibility on everything they want for in their day – to – day life. The smart fabric is one such textile material which caters to consumers’ requirements. Smart fabrics are entirely different from traditional fabrics which provide various functionalities. In terms of aesthetics, fabrics can change its colors according to consumers’ preferences. In terms of performance, the smart fabric has witnessed a wide range of application in the fields of extreme sports, athletics and army sectors which includes controlled muscle vibration, wind resistance, and body temperature regulation. The smart fabric also has its critical applications in the health and beauty sectors.
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Global Smart Fabric: Market Segmentation
On the basis of function, the global Smart Fabric market has been segmented as –
On the basis of application, the global Smart Fabric market has been segmented as –
Health and Beauty
On the basis of the distribution channel, the global Smart Fabric market has been segmented as –
Global Smart Fabric Market: Key Players
Some of the key players operating in the global Smart Fabric market are Adidas, Footfalls & Heartbeats Ltd., AiQ Smart Clothing, OTEX Specialty Narrow Fabrics, Bally Ribbon Mills among others.
Smart Fabric Market: Key Trends
Some of the marquee players in Smart Fabric Market have been strategizing on coming up with innovative products catering to target customers’ needs and requirements and at same times promoting its products and services by attending several key exhibitions
Smart Fabric Market: Key Developments
In 2015, Nike patented smart shirt design for fitness tracking. The newly launched is capable of tacking properties like heart rate and blood pressure.
In 2018, AiQ Smart Clothing scheduled to attend shows such as Wearable Technologies Show, Consumer Electronics Show, Wearable Device & Technology
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Opportunities for Smart Fabric Market Participants
In the pharmaceutical industry, monitoring and supervision factor of patients is being taken into serious consideration. The industry desire for such devices which makes things easy and efficient when it comes to monitoring of patients health. Smart Fabric coincidently provides various types of services such as electrocardiograms, infant monitoring, pressure sensing in wheelchairs and beds. Owing to this fact, smart fabric market sights opportunity in the pharmaceutical industry. Moreover, in the sports industry, athletics always desire for devices which keeps in check of performance at every interval of time. Smart Fabric tailored activewear makes it easy for sportsperson which provides unique functionalities such as distance coverage, heartbeat ratio, and other performance monitoring factors. As a result, smart fabric market finds immense scope in the global sports industry.
Brief Approach to Research for Smart Fabric Market
FMI will follow a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature, formats, and application of the coconut water concentrate segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall Smart Fabric market sizes.