5 Questions
Which industry is witnessing significant growth due to the numerous applications of smart textiles?
Fashion industry
What is the expected global smart textile market size by 2022?
$5369 million
When did the benefits of smart textiles become apparent?
Early 1990s
What is the compound annual growth rate (CAGR) of the global smart textile market from 2016 to 2022?
28.4%
What caused the existing market for smart textiles to expand?
Rise in demand
Study Notes
Smart Textiles Industry
- The wearable technology industry is witnessing significant growth due to the numerous applications of smart textiles.
Market Insights
- The global smart textile market size is expected to reach $5.55 billion by 2022.
- The benefits of smart textiles became apparent in the early 2000s.
- The compound annual growth rate (CAGR) of the global smart textile market is 28.1% from 2016 to 2022.
- The existing market for smart textiles expanded due to the growing demand for wearable technology, increasing popularity of smart fabrics, and advancements in nanotechnology and sensor technology.
Test your knowledge on the growing market of smart textiles! Learn about the rise in demand, expansion of the market, and the entry of new players. See how emerging economies are increasing their consumption of smart textiles compared to conventional textile products. Discover the expected global market size of smart textiles.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
