(MENAFN- America News Hour)In a recent published report, Global Smart Fabrics for Transportation Market report for till 2030. 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 the 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 be 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 for Transportation 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.
Smart fabrics are fabrics that allow digital components such as small computers and electronics to be embedded in them. The development and discovery of advanced polymers coupled with miniaturization of electronic components are driving the market ahead. The use of fabrics in automobiles includes upholstery, carpeting, interior ceiling, interior door panels, protective floor mats, steering wheel, seat belts, trunk liners and gear shift covers. These fabrics are also used for controlling temperature and making protective barriers. These versatile uses have made fabrics a key component of automobiles.
Market Dynamics
The transportation industry is the biggest market for smart fabrics. Major applications include inhibiting bacterial growth, improving the air quality, temperature control and eliminating odors. Rising environmental concerns and increasing awareness of the consumers about greener materials are driving the innovations in this field. Future looks bright for use of Smart Fabrics in the transportation market.
Market Segmentation
The market is segmented based on usage into Advanced traveller information systems (ATIS), advanced transportation pricing systems (ATPS), Advanced transportation management systems (ATMS) and Advanced public transportation systems (APTS). An Advanced Traveler Information System acquires, analyzes, and presents information to assist surface transportation travellers in moving from origin to destination. Advanced Transportation Pricing Systems are used for Ticket Vending, E-Toll Collection, Automatic Gate Machines, Pricing Engines. Advanced Transportation Management System is used for optimizing transportation network operations, reducing pollution and helping to reduce traffic congestion. Advanced public transportation systems increase the efficiency of operation and improve the safety of public transportation riders.
Regional/Geographic Analysis
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. In the Asia Pacific, India and China are the major contributors to the growth of the global smart fabrics market. In Europe, the automobiles segment is driving the growth of the smart fabrics market.
Key Players
Some of the major players in the market include Cisco, Parkopedia, AGT International, Parkmobile, Logica, IBM, Kapsh, Hitachi, Intel, SAP, Xerox, and Siemens.
Report ContentsRegional AnalysisReport Highlights
Global Market segments
Global Market Drivers, Restraints and Opportunities
Global Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Global Market – Current Trends
Competition & Major Companies
Technology and R & D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
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
Market Segmentation
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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