Market Of Smart Textile at a Rapid Growth, due to use of Nanotechnology in Smart Textile Industry

Smart textile is embedded with electronic components which are interconnected with each other, thereby offering particular size and flexibility. The smart textile consists of components like sensors, actuators, control unit and many more. The smart textile is used for different application which includes health management, health monitoring, communication and actuation and response. These textiles are used in areas such as sports and fitness, automotive, military and defense, health care, entertainment and many others. The smart textile also helps in regulating body temperature, helps in controlling muscle vibrations and also helps to resist wind. These textiles also protect for environmental hazards such as radiations. This Market was valued at US$700 million in 2014, which is expected to reach US$7,730.0 million by 2023, growing at a CAGR of 30.8% from 2015 to 2023.

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Driven by the increasing use of nanotechnology, the global smart textile market will expand remarkably in the foreseeable future. The use of nanotechnology has grown tremendously in the smart textile industry due to its valuable and unique properties. Furthermore, nanotechnology enables textiles to become multifunctional and supports embedding electronic components into the fabric. In addition to this, nanotechnology supports the production of fabrics that come with special functionality such as water and stain resistance, UV protection, and anti-bacterial.

The smart textile market has been segmented as:

Global Smart Textile Market: By Function

> Energy harvesting
> Sensing
> Thermo electricity
> Luminescent
> Others

Global Smart Textile Market: By Application

> Health Care
> Military and defense
> Entertainment
> Automotive
> Sports and fitness
> Others

Although the aforesaid trends will drive the global smart textile market, it will be constrained by the high cost of production. Furthermore, the cost of electronic devices and components will add to the price of these textiles. Moreover, the global smart textile market will be challenged by the incompatibility between smart textiles and electronics. To overcome this issue, more collaboration is required to make smart textile technology more effective in the global market.

In 2014, North America held the largest share of 40.1% in the global smart textile market. This regional market for smart textiles is projected to expand at an impressive 30.30% CAGR during the forecasting horizon.

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Some of the key players operating in the global smart textile market are:

> Noble Biomaterials
> Gentherm
> Schoeller Technologies
> Koninklijke Ten Cate
> Texas Instruments
> Outlast Technologies
> Globe Manufacturing Company

Players in the global smart textile market will benefit from the opportunity presented by the increasing research and development in this market.

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