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Smart textile market outlook

April 29th, 2021 / By: / Industry News, News

According to the report “Smart Textile Market Report: Trends, Forecast and Competitive Analysis” by ResearchAndMarkets.com, the smart textile market is expected to grow with a CAGR of 33% from 2019 to 2024.

The study includes the smart textile market size and forecast for the smart textile market through 2024, segmented by textile type, function, end use industry and region.

The future of the smart textile market looks promising with opportunities in the fashion and entertainment, sports and fitness, medical, transportation, architecture and protection and military industries. The major drivers for the market are growth in the wearable electronics market, miniaturization of electronic component and the growing demand for low-cost smart wireless sensor network.