Global Smart Fabrics in Fashion and Entertainment Market: Overview
Smart fabrics have an electronic chips embedded in them. Their ability to transform, grow, communicate, and even conduct energy differentiates them from the normal textiles, hence adding value to the wearer. As a result of growing trends to move data analysis and communication from smart devices directly to the human body, the connected devices have undergone many changes. Businesses are implementing number of sensors, machine learning, and big data technology to analyse and provide the consumers with more data about their bodies and lives. This emerging field of products will have a dramatic impact on human computer interaction. This in turn is boosting the growth of global smart fabrics in fashion and entertainment market in the forecast period of 2018 to 2026.
A recent report by Transparency Market Research offers an in-depth analysis of the global smart fabrics in fashion and entertainment market. It also enlightens various facets of the market such as notable developments, key drivers and restraints, and opportunities for the businesses. The report also offers a detailed regional analysis of global smart fabrics in fashion and entertainment market.
Global Smart Fabrics in Fashion and Entertainment Market: Notable Development
- In January 2018, Twinery MAS launched Nova, the high visibility jacket with on-demand illumination. This flexible, lightweight jacket by the company was designed to become an essential addition to every outdoor enthusiast’s wardrobe. Nova features patent-pending LightGuide technology that is embedded into the fabric, and activates on demand, to illuminate people and ensure high visibility protection for up to eight hours.
- In December 2017 Stoll and Myant Inc. joined hands to revolutionize the smart textiles industry. This collaboration is expected to have a direct impact on the textile manufacturing industry worldwide, as it raises the bar for functional computing textiles.
- The Levi’s Commuter Trucker Jacket with Jacquard by Google was launched in October 2017 and is now available online, as well as in select Levi’s stores in Santa Monica, Chicago, New York, and San Francisco.
Some of the major players of the global global smart fabrics in fashion and entertainment market are: IQ Smart Clothing Inc., E L Du Pont De Nemours and Company, Outlast Technologies LLC, Schoeller Technologies AG.
Global Smart Fabrics in Fashion and Entertainment Market: Key Drivers
As a result of ever increasing applications of electronic devices in day to day lives is one of the key parameter that is driving the growth of global smart fabrics in fashion and entertainment market. Also, the ease of use of smart fabrics and the integration of electronic devices within the textile, make it an integrated device for use as a simple fabric, which further contributes to the flourishing global smart fabrics in fashion and entertainment market. The convergence of the internet of things, 3D printing, and nanotechnologies is creating enormous opportunities for fashion and apparel, with an increasing number of products integrating sensors, to generate and respond to data and perform a range of various functions is yet again a key parameter that is supporting the growth of global smart fabrics in fashion and entertainment market.
Global Smart Fabrics in Fashion and Entertainment Market: Regional Analysis
As a result of increasing demands of the electronic wearables in various countries of North America, the region is expected to witness the highest growth of smart fabrics in fashion and entertainment market in the forecast period. The region leads the market of smart fabrics showcasing enormous responsiveness in a controlled manner. Also rising preferences for automated machines and gadgets by the users in the region the smart fabrics in fashion and entertainment market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.