Smart Textiles Market Share, Key Players, Segmentation Development and Forecast by 2031

Shibuya-ku, Tokyo, Japan, Japan, Feb 18, 2022, 02:11 /Comserve / -- Report Title: Global Smart Textiles Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025

SDKI recently published a report on Smart Textiles Market which gives a comprehensive insight into the current scenario, growth driving factors, opportunities and challenges associated with the market. The report offers descriptive analysis of the market on the basis of size, volume and compound annual growth rate studied for the forecast period, i.e., 2022-2031.

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The Smart Textiles Market is expected to witness a CAGR of 30 % over the forecast period, and be largely affected by factors, including rising investments to improve healthcare infrastructure, and rapidly growing geriatric population across the globe. According to a report by the United Nations (UN) organization, there were 703 million older people aged 65 years or above in the year 2019. By 2050, the number is estimated to more than double, reaching a value of 1.5 billion.

In addition, upsurge in awareness about several health concerns, and escalating prevalence of chronic and lifestyle diseases worldwide are also expected to drive significant growth to the Smart Textiles Market in the upcoming years. In 2019, approximately 18 million people around the world died from cardiovascular diseases, and more than 8 million peopled succumbed to cancer, both of which are categorised as chronic diseases. Another report by the UN suggests that the proportion of total global deaths resulting from chronic diseases is expected to rise to 70% and the global burden of disease to 56% by the year 2030.

Furthermore, increasing technological advancements in the healthcare industry to develop sophisticated medical products, coupled with mounting disposable income of consumers are projected to offer profitable opportunities to the growth of the Smart Textiles Market in the near future.

Based on geographical analysis, the Smart Textiles Market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. These regions are further sub-divided into the following:

• North America (U.S. & Canada)
• Latin America (Argentina, Mexico, Brazil, Rest of Latin America)
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
• Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa)

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The market is further segmented by segments into SEGMENTS. The report further depicts the impact of different variables on the growth of the market. Each factor is analyzed using proprietary data sources and statistical tools to provide greater understanding of current market trends to the reader. Some of the key players mentioned in the Smart Textiles Market are Google, Samsung, DuPont, OmSignal, Tommy Hilfiger, Adidas.

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

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