Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report on smart and interactive textiles which finds that sales of conductive fabric products are expected to more than double each year between 2007 and 2012. In 2006, the market was dominated by chromic or colour-changing technologies, but the report finds that the market is poised for some significant changes.
“Smart and Interactive Textiles” finds that the U.S market has seem a Compound Annual Growth Rate (CAGR) of over 20.5%. It was worth $69.5 million in 2006 and has been forecast to touch $193.3 million by 2012.
Smart textiles are a relatively new technology. They are textiles which are able to sense electrical, thermal, chemical, magnetic, or other stimuli from the environment and adapt or respond to them, using functionalities integrated into the textile structure. The study says that they do not have a fixed set of characteristics, but work with a control and response mechanism.
Analysts say that smart textiles have a potentially broad, as yet unforeseeable impact on the market for protective clothing, medical textiles, and other textile products and applications. Consumer products accounted for the bulk (98%) of U.S. smart textiles sales in 2006.
Authors of the report have predicted that there are bound to be significant changes to this market over the next five years. They say that there will be a rapid growth of military, biomedical, computing, and vehicle safety applications for smart textiles, which will directly impact both the size and structure of the market.
The study says biomedical applications alone, worth an estimated $300,000 in 2007 are expected to reach $79 million by 2012, showing a CAGR of 204.9%. Computing applications, worth an estimated $2.3 million in 2007 will reach $47.9 million by 2012, a CAGR of 83.5% over the five-year period.
“Smart and Interactive Textiles” is available from Report Buyer.
Report Buyer product ID: BCC00154
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