IGR Smart Textiles for Wearable Technology Market | Page 2

The report on Smart Textiles for Wearable Technology Market by raw materials (yarn, conductive inks,
conductive polymers), technologies (weaving or knitting, and printing conductive inks), functions
(Power generation or storage, Sensing), applications (healthcare, sports and fitness wear) trends
analysis and forecasts up to 2023 studies the market sizes, key trends and opportunities in the main
geographies such as North America, Europe, Asia-Pacific, Rest of the World. According to the report the
Global Smart Textiles for Wearable Technology Market is projected to grow at a CAGR of 33.7% in terms
of value over the period of 2017-2023. The growth in the world market is primarily driven by significant
contribution by North America (Leading region) region to this market.
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Market Insights
Currently, the global smart textiles for wearable technology market are expected to grow at rapid pace.
The growth in this market can be acknowledged to the drivers such as growing wearable electronics
market, growing popularity of smart gadgets with advanced features, and growing demand for low cost
smart sensors. However, the growth in this market is expected to be restrained by high cost of
production of smart textiles and compatibility issues. As per the study a majority of the revenue in the
global smart textiles for wearable technology comes from its military and safety applications followed
by home and architectural applications. Among the geographies Asia Pacific region is expected to grow
at the highest CAGR over the 2017 -2023.
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