| A variety of important key markets already exist for Smart Textiles. In these
markets clothing and the functions it provides is of critical importance.
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New technologies
in clothing are still fairly immature and often promoted by start-up
companies that are spin-offs from professional research activities
including universities. Such companies are usually strongly
technology-led and with limited funding to commercialise their products,
the result is that in many cases these technologies have yet to be
exploited to the full or fulfill the real commercial potential of them - which
may not be well understood or anticipated. In the majority of cases, ‘smart clothing’ continues to remain ideas
looking for markets or demonstrations of capability or even means of
promoting media attention rather than well understood and supported
commercial products.
Real commercial
applications have yet to make a wide-spread breakthrough. The lack of a
“killer application” means that demand for basic technologies has been
limited so far and that implemented technologies have not yet benefited
from economies of scale.
The total market
for smart textiles is therefore still relatively small, but certainly
until end of 2007 was growing fairly quickly, though this will be much
reduced in the current financial climate. For example Smart and
Interactive Textiles, an August 2007 report published by US-based
research firm BCC Research reported that in 2007, the US market for
smart textiles was worth about $79m (€53.7m) but sales of conductive
fabric products were expected to more than double each year through
2012, when the market was expected to reach $392m - a compound annual
growth rate of 38%. Consumer goods would account for the significant
majority of commercially available products, but BCC expected rapid
growth in military, biomedical, vehicle safety and comfort applications
to have a major impact on the market. |
