INDORE, India, November 7, 2016 /PRNewswire/ --
E-textiles market is growing with a CAGR of about 36.2% due to its increasing application across varied industries such as defense, healthcare, and sports among others. Technological advancements in wearable technology coupled with its rapid growth rate are majorly propelling the market growth of e-textiles. Wearable Technology has witnessed a growth rate of approx. 126% during 2014-2015 and is expected to continue this positive trend in the coming years. Medical & healthcare and sports & fitness segment is anticipated to impact the market growth positively in the coming years due to increasing adoption of e-textile in these application areas. In the U.S., various NBA teams such as Houston Rockets, Dallas Mavericks etc. have started experimenting OptimEye i.e. a device developed by Catapult Sports. This device is embedded into a jersey and helps the team members to collect data on a player's velocity, acceleration, jump height, distance, heart rate and more. North America dominates the global market and held around 40% of revenue share in 2015 owing to the rising adoption of e-textile products in the regional healthcare and sports sector. Whereas, Asia Pacific is growing with huge pace owing to availability of low cost fibers and cost-efficient manufacturing.
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Innovations in Wearable Technology: The Game Changer
Wearable technology is the pioneer & worldwide leading innovation as well as a market development platform for the technologies worn close to the body. Constant technological up-gradations in this platform have boosted the market growth for e-textiles. The latest technological innovations showcased in the Wearable Technology Show in London on March 2016 includes Babypod, Spartan Boxer Shorts and Beddit Sleep Tracker. Spartan Boxer Shorts, a wearable technology is majorly designed with the aim to protect the males from the side effects of the IOT revolution. It has been witnessed that the electromagnetic radiations generated from the wireless devices possess the capability to decrease the fertility rate in men. This innovative product claims to restrict 99% of radiations from affecting the reproduction rate in men. Hence, it is been estimated that the innovation of such technologies creates a wider scope for the e-textile market.
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Healthcare & Sports Application: The Most Lucrative Segments
E-textile products are primarily deployed in the healthcare segment to fulfill the unique purposes such as to track heartbeat and to study & scrutinize numerous disorders (cardiovascular, neurological or respiratory). In recent decades, a significant increase has been observed in the number of older people suffering from diseases. Due to this, automatic and smart health care services e-textiles can be foreseen as significant tools for achieving the goals of controlling the reducible costs and eliminating the inefficiencies in terms of reactive healthcare system (action undertaken only at times of emergency/diseases cases). In current scenario, need for preventive or predictive healthcare system has boosted the demand for e-textiles. Some of the most popular e-textile products in healthcare applications are SmartShirt and LifeShirt. SmartShirt developed by Sansatex Company possess the capability of measuring as well as displaying the vital signals (blood pressure, heart beat, temperature etc.) of the user due to which it has gained attraction in the healthcare sector. Furthermore, increasing sales volume of health and fitness trackers across the regions indicates a scope for the e-textiles market in healthcare and sports segment. In 2015, health and fitness trackers sales in North America were numbered 8.5 million units, up from 4.8 million units in 2014.
About Occams Business Research & Consulting (OBRC)
Occams Business Research & Consulting has been in the business (Market Research) for the past three years. OBRC, based in India, is formed by two women analysts, Shyamal Moghe and Sathya Durga, who started the company after years of working as analysts and project managers for companies such as Frost & Sullivan, Smart Analyst etc. and have an excellent track record for the best customer satisfaction.
Shyamal Moghe (Shyamal Moghe)
Sathya Durga (Sathya Durga)
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