Global Smart Fabrics for Sports and Fitness Market - Segmented by Product Type (Ultra Smart Fabrics, Active Smart Fabrics, Passive Smart Fabrics), Function (Energy Harvesting, Sensing), and Region - Growth, Trends, and Forecast (2018 - 2023)
The smart fabrics for sports and fitness market are expected to grow with a CAGR 17.92%, during the forecast period (2018 - 2023). The scope of the report is limited to product types offered by major players, which include Ultra Smart Fabrics, Active Smart Fabrics, and Passive Smart Fabrics. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Recent technological advancements in the microelectronics industry have resulted in the development of components down to Nano-scale. This is showing promising growth over the forecast period for Smart Fabrics or textiles in sports and fitness market. Researchers are now evaluating new possibilities to functionalize fabrics or textiles with emerging technologies, to improve the lifestyle of the consumer. In the recent times, with the advent of smart sensor devices, there has been a growing demand for sophisticated wearable smart gadgets. Noticeably, there has been a rapid growth of low-cost smart wireless storage networks, which has been driving the market.
The Miniaturization of Electronic Components is expected to Increase the Adoption of Smart Fabrics in Sports and Fitness Sector
The advancements in Nano-technology and micro-fabrication technologies have enabled miniaturization process, which makes smart sensors cost-effective and drives future market of smart fabric in fashion and entertainment. The 3-D printing production processes and Nano-materials developed by Nano Dimension have the potential to resolve this challenge and help create an efficient production technology for smart textiles.
There is a huge concentration of organizations that manufacture numerous wearable technology gadgets, from Fitbit’s fitness trackers (bands), Nike’s FuelBand to other major Sports brand watches, to meet the Sports and Fitness requirements. The new segment of wearable devices, called the E-textile or Smart fabrics have changed the way these devices are being worn now. Smart fabrics are one that has biometric sensors, mini computers, circuits or metallic yarns integrated into them. These fabrics can be designed accordingly to meet almost all the basic and the high-end requirements of a sports athlete or any fitness buff.
North America is one of the Prime Markets for the Adoption of Smart Fabrics in Sports and Fitness Segment
In the United States, there is a remarkable future for Smart Fabrics in Sports and Fitness Market. Considering the Sports and Fitness industry, these fabrics are capable of being modified as per the user’s needs. It can be water resistant and can measure the chemical composition of the body, monitor heart rate, and also, keep a track of the physical activities as well as local environment. Further, various sports organizations in the United States have made significant investments in the development of advanced fabrics that are incorporated with lightweight sensors, color changing materials and other features. This can be attributed to new inventions in the Global Smart Fabrics in Sports and Fitness Market.
Key Developments in the Market