New Research: Lucintel Predicts a Bright Future for the Global Smart Textile Market

Did you know that Lucintel recently published a market research report entitled “Growth Opportunities in the Global Smart Textile Market 2019-2024”?

This market report for smart textile identifies and predicts future opportunities for growth in smart textile market for various segments as well as for various regions such as North America, Europe, Asia Pacific, and the Rest of the World. It also identifies growth opportunities for smart textile in the health care, military and defense, entertainment, automotive, sports and fitness industries.

According to Lucintel’s market report, the smart textile market is expected to grow with a CAGR of 33% from 2019 to 2024. Some of the dominant players in the smart textile market are Textronics, E.I. DuPont De Nemours, Milliken, Ohmatex, Outlast Technologies, Texas Instruments, Koninklijke Ten Cate, Schoeller Technologies, Gentherm, Noble Biomaterials and Adidas AG.

There are some interesting developments in smart textile market as competition heats up and players try to increase their market share. The major drivers for this market are growth in the wearable electronics market, miniaturization of electronic component, and growing demand for low cost smart wireless sensor network.

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