In a recently published report, Global Smart Fabrics in Fashion and Entertainment Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Smart Fabrics in Fashion and Entertainment Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
Global Smart Fabrics in Fashion and Entertainment Market was valued at US$ XX Mn in 2016 and is expected to reach US$ XX Mn by 2022 growing at a CAGR of XX% during the forecast period. Wearable smart technology provides consumers with the ability to interact with their smart garments and vice versa. The cultural and lifestyle changes have contributed to this merger between the fashion and smart fabrics industry. Soon clothing will not onlylook good but also communicate and change its behavior according to our day to day activities. The rapidly growing interest of consumers in smart textiles has brought about numerous possibilities for the various brands to create of exclusive designs that cater as wells as stand out in this highly competitive market.
The miniaturization of electronic components combined with the discovery and development of advanced polymers is driving the market ahead. Breathability, waterproofing, heat and light sensibility are some features that are attracting consumers towards smart fabrics in this market. Stain resistance and odor control are other features driving the need for the smart fabrics market.
The end-users of these fabrics are the fashion industry and fashion-sensitive consumers. They utilize these fabrics for monitoring health using vitals (such as heart rate, respiration rate, temperature, activity, posture) and innovative fashion (wearable tech).
Major factors driving the growth of the global smart fabric market are the booming wearable electronics market and miniaturization of electronics. Smart gadgets are driving demand for more sophisticated and smarter gadgets. Decreasing the cost of smart wireless sensor networks is also driving the market demand for these fabrics.
The immense developments in fields like nanotechnology, polymer development, and low power sensors changed the face of this market. They are being increasingly used in the fields of communication and entertainment. The design and development of elastomeric materials, thermoplastics and foams have to lead to the development of fabrics with enhanced functionalities.
Although lack of proper regulations and exhaustive standards have restrained the growth of the smart fabrics market, it is going to boom in the future on the back of its various uses.
The smart fabrics market can be segmented into ultra-smart fabrics, active smart fabrics, and passive smart fabrics. The passive smart fabrics segment is expected to occupy the largest share in this market in near future.
North America is a leader in the global smart fabrics market because of the rapidly growing electronics market and the booming IT sector. The Asia Pacific is the next important player in the global smart fabrics market mainly because of the flourishing construction and healthcare industry. Countries like Korea, Japan, India, and China in the Asia Pacific region are driving the demand with an emphasis on low-cost sensors. In Europe, the automobiles segment is driving the growth of the smart fabrics market.
The increasing use of electronic devices is driving the growth of the Smart Fabrics market. The integration of electronic devices into fabrics suitable for normal use further contributes to the flourishing global smart fabrics market. The applications of smart fabrics in sensing, harvesting energy, and generating thermo-electricity are anticipated to bolster its growth in the near future. Although portable power supply, high cost, and expertise required to manufacture these fabrics are some factors constraining their growth, the Smart Fabrics market will see a boom in the future with growth in technologies.
Some of the major players in the market include Future-Shape, Novanex, AiQ, Eeonyx Corporation, Interactivewear, Koninklijke Ten Cate NV, Schoeller Textil AG, Textronics, Marktek Inc., Toray Industries and Intelligent Clothing.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market Dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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