Smart And Interactive Textiles Market will likely surpass USD 6.5 billion by 2024

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Smart And Interactive Textiles Market will likely
surpass USD 6.5 billion by 2024
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• Overview

• Smart and Interactive Textiles Market has been
  gaining huge popularity among automotive giants
  across the globe, on account of the fact that
  manufacturers are now focusing on the comfort and
  luxury factor of passengers.
• . The advent of IoT and connected technology are
  likely to influence the business trends. In
  addition, the ongoing research activities to
  innovate new products are slated to propel smart
  and interactive textiles industry size.
• Based on the application, smart and interactive
  textiles market is mainly divided into
  transportation, industrial, medical healthcare,
  military defense, and retail consumer.

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• In 2015, transportation application segment
  collected a revenue of USD 750 million and will
  surpass a revenue collection of USD 1.5 billion
  by the end of 2024. Extensive use of the product
  for railway coaches, aircrafts, ships, and
  automobiles to improve their mechanical
  properties and aesthetic features will boost the
  industry growth notably.
• Moreover, surging requirement of lightweight
  materials to enhance the fuel efficiency of
  automobiles and aircrafts will propel the overall
  smart and interactive textiles industry size.
• Chromic materials and wearable electronics are
  the primary products of smart and interactive
  textiles market. Wearable electronics product
  segment will register a flourishing annual growth
  rate over the coming timeframe, owing to the
  increasing popularity of the product among sports
  persons and the geriatric population susceptible
  to cardiac problems, given that these products
  help to monitor their metabolism rate and vital
  signs.

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• 360 Analysis

• Geographically, North America smart and
  interactive textiles market generated a revenue
  of USD 700 million in 2015 and will exhibit
  notable growth over the years ahead. The U.S.
  dominated the regional revenue contribution in
  2015.
• The regional governments have been investing
  heavily to improve the safety and performance of
  military equipment and apparel, which will fuel
  North America smart and interactive textiles
  market growth. In addition, escalating RD
  activities across the medical sector will also
  impel the product demand.
• Asia Pacific smart interactive textile market
  will generate a significant revenue with an
  annual growth rate of 20 over the coming seven
  years. Rapid industrialization and growing
  expansion of the automotive sector across this
  region will stimulate the product demand
  noticeably. India, Japan, and China will be the
  prominent revenue contributors.
• Smart and interactive textiles industry is
  extremely fragmented with top five manufacturers
  contributing to less than 20 of the overall
  revenue in 2015. Market players are trying to
  focus extensively on product development and RD
  activities to improve their product portfolio as
  well as industry position.

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Competitive Trends

• The notable industries in Smart and Interactive
  Textiles are
• Sensoria, Inc.,
• Toray Industries,
• DuPont,
• Koninklijke Ten Cate,
• Textronics, Inc.,
• Interactive Wear AG,
• Milliken Company,
• Outlast Technologies LLC.

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