Smart textile materials are embedded with smart fibers and yarns, using sensors, processors, and nanotechnologies. These textiles provide value-added functionality and are equipped with mechanical, thermal, optical, or electromagnetic properties. The smart textile market’s most prominent drivers are the increasing demand for smart wearable’s, advancement in miniaturization of modern electronics, and increasing spending power. Additionally, the advent of the nanotechnology and RFID technology in the smart textile provides an impetus to the market growth.
Impact of COVID-19
The coronavirus outbreak has severely impacted the global textile industry. The lockdown imposed by the government to control the spread of the virus has disrupted the supply chain and adversely impacted the import and export of textile products to domestic and international markets, resulting in the cancellation and deferral of orders. The manufacturers are planning to dump the inventories in the domestic market, reducing the overall profit margin. Additionally, the outbreak has created a temporary closure of factories and lay-offs of the employees, further hampering the market growth.
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Smart Textile Market Segmentation
Central and South America and the Caribbean
The Middle East
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now