Some of the other factor factors contributing to the growth of this market are the increasing standard of living, rising disposable income, and growing spending in the medical technology and healthcar. The rising use of wearable technology that is widely used in heart rate sensors and in various other sensors to check fitness will also act as a game changer for the smart textile market. In addition to that, increasing research and development activities and rising contribution by the key players and manufacturers will eventually address these issues. The high cost affiliated with the smart textile will also restrict the wearable devices only to the high-end customers that may limit the growth of the market., Texas Instruments Inc. E. Miniaturizing of electronic components, availability of sophisticated gadgets, and low cost of smart wireless sensors have grown the demand for smart textiles extensively and will augment the growth of the market in coming years.In addition, integration of wearable technology at a large scale and rapid advancements in the textile manufacturing are projected Knitted jacquard houndstooth fabric to revolutionize the global smart textile market in the near future.8% CAGR during the forecast period 2015 to 2023.The global smart textile market is highly consolidated, as the leading four players in the market held approx..7 bn in 2014. Some of the leading players in the market are Koninklijke Ten Cate N. Significant use of these technologies is expected to change the way personal health is monitored. The market is predicted to rise at an outstanding 30. Europe held the second position in the global smart textile market by holding 30% of the shares in 2014.l.V.Rising Use of Wearable Technology to Boost Demand for Smart TextileThe growing preference for wearable technology such as sensors and other types of electronic devices are the key factors responsible for the growing demand for smart textiles. The high cost and lack of appropriate standards and regulations to monitor may impede the flourishing smart textile market.As per the TMR, the global smart textile market is estimated to attain a valuation of US$7. However, these restraints are not expected to have a long-term impact due to the growing popularity of the smart wearable technologies, thus bringing high growth opportunities in the global smart textile market.
