Smart Textile Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024

Albany, NY -- (SBWire) -- 02/21/2019 --The global smart textile market is highly consolidated, as the leading four players in the market held approx. 46% of the overall market in 2014. E.l. DuPont De Nemours and Co. held 20% of shares in the market; still, it faces strong competition from numerous small and medium-size specialty product-manufacturing companies. Some of the leading players in the market are Koninklijke Ten Cate N.V., E.l. DuPont De Nemours and Co., Texas Instruments Inc., and Gentherm Inc.

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Uptrend in wearable electronics industry, miniaturization of electronic components, increasing popularity of sophisticated gadgets with advanced functions, rapid growth of low-cost smart wireless sensor networks, accelerated demand from the sports sector as it strongly helps in improving player's performance, and growing demand from the healthcare industry are some of the key factors driving the demand in the global smart textile market.

On the other hand, high cost of production, constraints pertaining to the integration of electronic components into textiles, the lack of exhaustive standards and regulations, and issues regarding product protection and thermal consideration are holding the market from attaining its true potential.

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Nevertheless, the vendors of this market stand to gain new opportunities from growing application of smart textiles in wearable, multi-featured and hybrid application in mobile devices, and the development of key enabling technologies.

North America, backed by the technology-savvy country of the U.S., is currently the most lucrative region in terms of demand in the global smart textile market. North America provided for more than 40% of the total demand for smart textiles in 2014, followed by Europe, which accounted for 30% of the total demand.