(EMAILWIRE.COM, April 14, 2023 ) As per Maximize Market research, the total global market for Smart Textile Market was USD 4.12 Bn in 2021 and is expected to grow at a CAGR of 28.4 percent over the forecast period to reach USD 30.60 Bn by 2029
Smart Textile Market Report Scope and Research Methodology
The Smart Textile Market report is a combination of secondary and primary data, which makes it error-free and authentic. It provides a detailed analysis of current, past and future market dynamics including opportunities, drivers, restraints and challenges. The bottom-up approach was used to estimate the Smart Textile Market size.
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Smart Textile Market Dynamics
Implementation of advanced technologies in smart textiles, and the emergence of new technologies such as AI and IoT have transformed the textile industry. The lack of standards and regulations is the main restraint of the smart textile industry. The development of multi-featured and hybrid smart textiles is an opportunity that concurs with this industry.
Smart Textile Market Regional Insights
The smart textiles market in North America held the overall market share in terms of value. One of the important factors that have led to the North American smart textiles market’s leading position is the significant demand for smart textiles in the US, particularly from the military and protection, healthcare, and fitness verticals and sports.
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Smart Textile Market Segmentation
Passive Smart Textile
Shape Memory Textiles
Wearable Smart Electronic Textiles
Smart Textile Markets Key Competitors include
AIQ Smart Clothing
Intelligent Clothing Limited
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Maximize Market Research is leading Automation & Process Control research firm, has also published the following reports:
Geotextiles and Geogrids Market – The market size is expected to reach USD 12.35 billion by 2029 at a CAGR of 7.9 percent during the forecast period.
Biomedical Textiles Market – The market size is expected to reach USD 18.85 billion by 2029 at a CAGR of 5.8 percent during the forecast period.
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Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.