SMART TEXTILES MARKET EXPECTED TO SURPASS $1.5 BILLION BY 2020: HEXA RESEARCH

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The global smart textiles market is expected to exceed USD 1.5 billion by 2020. Smart textiles are being increasingly adopted across many end-use industries; this is expected to be the key driving force for the market. Increasing penetration of smartphones incorporated with Bluetooth low energy (LE) for linking sensor-based appliances to the internet is estimated to spur product development activities. The smart textiles market in 2012 was estimated to be around USD 290 million and is expected to grow at a CAGR of over 20% from 2013 to 2020. Reducing costs of electronic components is estimated to aid in commercialization, adding to overall smart textiles demand. Ensuring user responsiveness and flawless incorporation of technology into the textile are among the key challenges faced by market players.

There have been a number of developments in the smart textiles market space, with growing incidences of assembly processes and continuous or roll-to-roll fabrication of electronic textiles. This is expected to aid in mass production, since the changing infrastructure facilitates high volume smart textile manufacture.

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