Smart Fabric Market anticipated to Flourish at a CAGR of 21.6% By 2023
- by KD Market Insights
- Feb, 2021
Smart fabric is a fabric that enables digital components such as a battery and a light, and electronics to be embedded in them. It is also known as smart garments, smart clothing and smart textiles. Along with battery and light, small computers are also used as a digital component.
According to the KD Market Insights, the market is predicted to achieve CAGR of 21.6% during the forecasted period of 6 years i.e. 2018-2023. It is expected that market will grow at a considerable amount of revenue by 2023. Continuous research & development and enhancements in sensors such as development of low-cost wireless sensors is creating substantial opportunities for the growth of the smart fabric market. Further, miniaturization of electronic components is anticipated to positively impact the growth of the market
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The smart fabric reports aims to provide the in-depth report of the demand of the smart fabric in the market, market size, segmentation of the market, availability of the product, acquisition process, insights, product type, supply chain analysis and opportunities in the global smart fabric market.
The smart fabric market is segmented on the basis of type, by application and by geography. By type it is divided into active smart fabric, passive smart fabric and others. By application, Faison and Entertainment, Sports and Fitness Monitoring, Medical and Healthcare, Health and Medical Monitoring, Smart Wound Dressings, Transportation, Heated Seats, Protection and Military and Home and Architecture
The smart fabric market provides the current scenario of the market, the major key stakeholders of the market and the competitive dynamics of the market. The major market players are AiQ Smart Clothing, Vimal, Clothing+, DuPont, Jacquard (Google Inc.), Interactive Wear AG, Outlast Technologies LLC, Schoeller Textiles AG and Other Major & Niche Players. The plans, policies and strategies of the competitors are analyzed so that strategies can be modified according to the need of the market.
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The smart fabric report considers the timelines in which the report is made. For the better consideration, 2017 is considered as the base year, 2018 is considered as the estimated year and 2018-2023 is considered as a Forecasted period. By geography the market is divided into North America, The U.S., Canada, Rest of North America, Europe, Germany, The U.K., France, Rest of Europe, Asia Pacific (APAC), China, India, Japan, Australia, Rest of APAC, Middle East & Africa (MEA), GCC, South Africa, Rest of MEA, South America (Brazil &Rest of South America).
The final section of the report provides information about its performance in the various areas such financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news (acquisition, expansion, technology development, research & development expansion and other market activities). The smart fabric market is a growing market and has great opportunities for the entry-level players also. The overall performance of the company in the market has been shown to ensure that the suitable techniques are adopted which helps the company to grow in the market.
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