Europe district cooling pipeline network market valuation to hit the billion-dollar frontier by 2024, increasing implementation of energy efficient directives to drive the regional industry growth
Increasing investments in sustainable urban development fall among the principal driving factors of Europe district cooling pipeline network industry. Centered basically around energy efficiency, district cooling systems are prominently deployed by regional governments of the EU in commercial as well as residential establishments to fulfill escalating demand for cooling systems. As the requirement continues to escalate, municipal bodies are finding it mandatory to establish long-term contracts with Europe district cooling pipeline network industry giants to set up district cooling plants. The growing acceptance of these systems owing to their economic and environmental benefits is certain to propel Europe district cooling pipeline network market size, valued at USD 900 million in 2017.
One of the most proactive countries across Europe that has accomplished quite some fame as far as urban development is considered is Denmark. Since the last few years, the Denmark government has quite commendably achieved its goal of minimized energy consumption. One of the cities in Denmark, Carlsberg, has earned the reputation of being one of most green cities in the country, solely on account of the deployment of district cooling facilities. Currently, in Carlsberg city, two storage tanks with a storage capacity of 2 million liters are deployed to enable energy-efficient and economically viable district cooling for office areas spanning a mammoth 300,000 square meters.
France District Cooling Pipeline Network Market Size, By Diameter, 2017 & 2024 (USD Million)
As these systems provide eco-friendly energy solutions, many commercial companies as well as residential building developers have been installing centralized cooling systems. The shifting trends toward the growing deployment of centralized cooling systems is thus likely to boost Europe district cooling pipeline network market size.
A prime driving force behind the growth of Europe district cooling pipeline network industry is the escalating implementation of energy efficient directives for reducing carbon footprints. Having recognized the potential energy savings that can be achieved with these systems, the European Union has framed a set of norms that would increase the deployment of these facilities across the continent. Regional government bodies have also affirmed that these systems will contribute extensively to the reduction of carbon emissions, a factor that is likely to impel Europe district cooling pipeline network industry outlook.
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Numerous member countries of the EU have been liasoning with one another in order to conjointly develop district heating and cooling systems for enhancing energy efficiency in residential buildings. These countries have also pledged to lower the proportion of CO2 emissions that arise due to energy consumption in residential as well as commercial buildings. Validating the abovementioned fact, in 2018, the Scotland government signed a deal with Denmark for reducing energy consumption in buildings by 15% by 2032 and derived emissions by 23%. This cooperation depicted by the EU member countries is certain to impel Europe district cooling pipeline network industry.
With the growing deployment of district cooling systems, pipeline manufacturers in Europe are naturally witnessing a stellar growth in product demand. In order to consolidate their stance as well in Europe district cooling pipeline network industry, these manufacturers are working independently to establish new manufacturing facilities across several European countries. Powered by their efforts in conjunction with the presence of a stringent regulatory landscape and the implementation of these systems across the residential, industrial, and commercial arenas, Europe district cooling pipeline network market is forecast to cross a valuation of USD 1 billion by 2024.
Author Name : Sunil Hebbalkar
Smart lighting market to register a double-digit CAGR over 2018-2024, escalating number of smart city projects to augment the industry growth
As the lighting industry progresses from incandescent bulbs to CFLs and LEDs, smart lighting market has made its way as the next trending vertical. The vast expanse of this sphere can be aptly demonstrated by an incidence that occurred in Toronto a couple of years ago. A newly constructed building that nearly became a feather in the crown for the Toronto financial district, the EY Tower, made it to the headlines for offering IP addressable LED lights that tenants can control with internet-based building automation. The instance of EY Tower is of particular interest to the smart lighting industry as it demonstrates the steady presence of one of the most important forces, the real estate sector, into the smart cosmos.
Smart Lighting Market Size, By Light Controls, 2017 & 2024 (USD Million)
In order to lure tenants with modern technology and convince them to pay premium rents, other prominent real estate developers around the world have also followed the strategy adopted by the Canadian builders of EY Tower. One such instance is the retrofitting of the Torre Europa with Power over Ethernet (PoE) lighting. In the project that has been undertaken by Philips and Cisco, 14 floors will be equipped with 5,400 PoE luminaires.
Advocates of such retrofitting of buildings with smart lighting technologies have pointed out the twofold advantage of the undertaking. It drastically reduces the cost of new wiring by virtually eliminating the need for certified electricians. This is because the low voltages that are capable of driving LEDs can travel safely over Ethernet and do not require the more-costly processes associated with installing conventional 120 Volt and 240 Volt electrical wires. The chief attraction of using smart lighting in buildings however, lies in the fact that connecting luminaires directly into information networks makes it possible to control the ‘switch on and off’, color temperature, brightness and hues via gadgets and sensors. It also turns lights into nodes that can trigger other operations such as adjusting the heating, and that can collect data about building use and assets. PoE is one of several technologies emerging to make lighting a crucial part of the Internet of Things (IoT). The novelty of the technology and the ease with which it can be controlled even remotely has majorly propelled smart lighting industry trends.
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The energy efficiency that smart lighting systems can afford is a major factor driving smart lighting industry size. In 2016, in the UN Climate Change Conference, Philips Lighting demonstrated how smart energy solutions work and can make a real difference to climate change. The event showcased the profoundly transforming capabilities of the smart lighting market, including demonstrations that depicted the energy and greenhouse gas saving potential of this one single technology. Indeed, the technology is equipped with the potential to reduce energy demand from lighting by half.
Philips also exhibited that increasing the rate of energy efficiency to 3% can unlock significant economic benefits – close to 6 million new jobs can be created by 2020, fuel costs can be reduced by €2300 billion by 2030 and household energy bills be reduced by one-third. These estimates are evidence enough to testify the robust latitude of smart lighting industry.
With the rapid proliferation of smart cities, smart lighting market is bound to become one of the most remunerative verticals for investors to pour their money in. Netherlands in this case, can be quoted as a bright example of the onslaught of smart cities, as even the smallest of towns in this country have deployed smart lights which can detect motion and switch themselves on and off. Larger cities like Rotterdam and Amsterdam have already installed smart lights on the streets that are not only energy efficient, but also add a swanky edge to the town or city that can make it more lucrative for growth and investments. As the number of smart city projects across the globe increase, providers of smart lighting for city streets are diversifying their services by turning smart street lighting poles into a potential hub for free Wi-Fi, or to sense the quality of air and even to notify police about public aggression or accidents. This shifting focus is more than likely to expedite smart lighting industry outlook in the ensuing years.
One of the simplest drivers that can be credited for the superb projection of smart lighting market is the eagerness of consumers to upgrade to the latest technology. Currently, smart lights are being designed to be controlled with a smartphone or with AI personal assistants such as Siri or Alexa. In consequence, they have become infinitely more attractive to a generation of consumers who not only have the available disposable income to afford smart lighting but also want to own smart homes where the lighting can be controlled with a voice command. With the popularity of smart lighting on the rise in both the industrial and residential sectors, smart lighting industry size is projected to register a remarkable 20% CAGR over 2018-2024.
Author Name : Paroma Bhattacharya
Standalone hybrid solar wind energy storage market to amass hefty returns by 2024, rising investments in renewable energy generation to augment the industry growth
Mounting government support with regards to the adoption of renewable energy has majorly propelled hybrid solar wind energy storage market. Regulatory bodies across the globe have set strict deadlines to drastically diminish the amount of greenhouse gases and to create a sustainable environment for the future of the planet. This has resulted in such initiatives like the EU 20-20-20 established in 2014, aimed at reducing greenhouse gases, increasing the renewable energy, and improving energy efficiency, each by 20% by the year 2020. Other regional governments are also catching up quickly on the trend, augmenting hybrid solar wind energy storage market. For instance, the Ministry of New and Renewable Energy of India is planning to build the world’s largest solar-wind hybrid mega project that will have a capacity of 160 MW, with the help of funding by the World Bank.
U.S. Hybrid Solar Wind Energy Storage Market Size, By End Use, 2016 & 2024 (MW)
Such large-scale projects not only validate the potential of renewable energy generation using hybrid systems but also the importance of energy storage. It thus goes without saying that the growth of hybrid renewable energy industry and hybrid solar wind energy storage market is directly proportional. The combination of two major renewable energies is slated to ensure a reliable and flexible source of energy as compared to standalone solutions. The storage system ensures resilient solution for providing energy even when faced with prolonged cloudy days with low wind speeds.
With the prominent use of renewable energy, standalone hybrid solar wind energy storage market is anticipated to witness a profitable growth in the years ahead. A number of private sector-based companies have started to offer standalone hybrid solar wind energy systems for homes and businesses. For example, Maine based Pika Energy offers its users the combination of 1700 watt producing wind turbines and 6000-watt range of solar panels. With these, they add an energy storage unit such as the Tesla Powerwall and a very viable standalone hybrid solar wind energy system is created. The idea of standalone hybrid solar wind energy system is appealing to consumers who are looking to move away from the power security and financial constraints of grid dependence. On these grounds, standalone hybrid solar wind energy storage market share has been forecast to increase at a CAGR of 5% over 2017-2024. Incidentally, its counterpart, the grid connected hybrid solar wind energy storage industry is also projected to register steady growth over 2017-2024 due to the potential of uninterrupted power supply and effective capacity utilization provided by the grid connected system.
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Legislative bodies around the world have been making tremendous efforts to increase the adoption of renewable energy. The Department of Energy of U.S. has proactively deployed the utilization of renewable energy across the country. This has resulted to 18% of power usage in U.S. from renewable sources, in 2017. With a shift toward solar and wind power, the total electricity generation was an improvement over the 15% produced in 2016. The use of renewable energies also potentially ended the droughts in the West and a dip in gas emission through power generation and decline in consumer spending on power. Driven by the anticipated growth in the overall renewable energy space in the U.S., it has been projected that U.S. hybrid solar wind energy storage market will depict quite a commendable growth in spite of the Trump administration’s desire to cut renewable energy funding.
The trend of encouraging renewable energy deployment has taken a massive upsurge across numerous other geographies. Say for instance, the Clean Energy Regulator of Australia set a Renewable Energy Target for 2020, which the country was confident at surpassing as investments in clean energy soared 150% between 2016 and 2017. The total investment in renewable energy in Australia rose to $9 billion and broke the previous record of $6.2 billion in 2011.
As initiatives for renewables adoption increase across myriad geographies, hybrid solar wind energy storage industry is expected to witness a tremendous surge in terms of volume and sales. As per estimates, hybrid solar wind energy storage market size is expected to cross a capacity of 1GW by 2024.
Author Name : Paroma Bhattacharya
Residential electric underfloor heating market to witness sizeable gains over 2017-2024, UK to majorly drive the regional landscape
The evolving demand for reliable & efficient heating systems have had a perpetual impact on electric underfloor heating market, with regards to its profitability landscape. Over the years, there have been a plethora of strict regulatory compliances focusing on energy conservation and green building construction which have further massively proliferated electric underfloor heating industry trends. A notable instance that validates the aforementioned aspect is of the German government launching the Energy Saving Ordinance initiative to reduce the carbon footprints. Another initiative validating the increasing deployment of electric underfloor heating systems is the Energy Efficiency Directive of 2012 focusing on energy efficient renovations to retrofit at least 3% of government establishments across the European countries. It is prudent to mention that not only the government bodies but also the private entities such as Siemens, Warmup, Schneider Electric, Danfoss, Honeywell, Nexans, Mitsubishi, and Sensata Technologies, constituting the competitive landscape of electric underfloor heating market, in response to these building standards and codes to limit energy consumption, are vigorously innovating their product portfolios to come up with advanced heating technology for residential and commercial environments. Such moves are overt to leave a substantial impact on electric underfloor heating industry share, which as per estimates recorded a valuation of USD 1.5 billion in 2016.
U.S. Electric Underfloor Heating Market by Application, 2016 & 2024 (USD Million)
In conjunction with the initiatives undertaken by private and government companies toward energy consumption, industry analysts also speculate the increasing rate of disposable income to be a vital factor favoring electric UFH installations. According to reports, in FY 2016, the UK household disposable income was record at USD 34,930, which was USD 790 higher than what was recorded in 2015. These statistics elicit a clear picture of the rising trend of installing high value & energy efficient heating systems. Given the low power consumption and heating cost associated with electric UFH systems than the conventional fossil fuel based heating systems, analysts are anticipating electric underfloor heating market to chart a lucrative roadmap in the ensuing years. As per the latest report compiled by Global Market Insights, Inc., the global electric underfloor heating market is expected to witness an annual growth rate of 6% over 2017-2024.
Reportedly, the massive demand for efficient heating technologies, particularly from the residential and commercial sectors, is one of the major factors profoundly influencing electric underfloor heating industry size, courtesy – the increasing rate of restructuring and retrofitting activities across these sectors. Citing an instance, the recent announcement of Saudi Arabia’s plan to invest USD 20 billion for retrofitting and restructuring activities in the U.S. has considerably propelled the regional electric underfloor heating industry share. According to reliable reports, it is found that even the basic energy retrofit program implemented on the existing buildings can provide significant economic and environmental benefits. In fact, a basic or level 1 energy efficiency retrofit program targeting the residential building stock could significantly reduce the electricity consumption by 10,054 GWh per year and carbon emission by 7.611 million tons per year.
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In response to the fact that energy efficient systems are gaining considerable traction throughout the regulatory drive, the residential sector is witnessing massive deployments of electric underfloor heating systems. The statistics provided by EIA, states the U.S. residential energy consumption to be over 20.47 quadrillion British thermal unit in 2016. These statistics depict the growing need to limit the power consumption of the residential sector by deploying energy efficient systems. Furthermore, according to the European Commission, the residential sector accounted for more than 64.7% of energy consumption chiefly from the home heating systems. Needless to say, the exponentially rising rates of energy consumption from the residential sector, is one of the most profound factor that is driving the of the electric underfloor heating industry growth . Estimates claim the residential electric underfloor heating market to witness a CAGR of 6% over 2017-2024, subject to the growing demand for localized heating systems. In parallel with the residential sector, the commercial sector is also likely to emerge as a lucrative growth ground for electric underfloor heating market. The extensive demand for these heating systems from healthcare, educational institutions, hospitality, offices, retail, and logistics & transportation are expected to provide significant impetus to the overall electric underfloor heating market outlook.
Taking into consideration the geographical landscape, UK is one of the leading regions practicing strict regulatory compliance and energy standards toward improving energy consumption and curbing GHG emissions. Owing to such measures, the GHG emissions across Europe were plumped by 22%, recording a significant reduction of 1,265 million tons of CO2 since the 1990 level. Add to this, in the year 2015, U.K. introduced an energy saving directive which asserted on the achievement of carbon-neutral buildings target by 2050 and reportedly claimed to reduce the energy consumption across new buildings by 25%. As per the estimates, U.K. electric underfloor heating market is slated to register a CAGR of 7% over 2017-2024.
North America and APAC are further anticipated to emerge as strong contenders in the global electric underfloor heating market landscape, with expanding infrastructure sector and increasing appetite for advanced heating technologies. Not to mention, the growing emphasis on energy conservation and curbing GHG emissions will further fuel the global industry demand. Japan and China have massively contributed to the APAC electric underfloor heating market, recently, holding 15% and 36% of the regional share in 2016, respectively.
Taking into account the massive penetration of these systems globally, the competitive landscape of electric underfloor heating market is overt to be dynamic. In a bid to sustain the market position, industry players are anticipated to adopt M&As, product upgradations, and geographical expansion as their key growth strategies. In terms of commercialization, Global Market Insights, Inc. claims the worldwide electric underfloor heating market to exceed a valuation of USD 2.5 billion by 2024.
Author Name : Ojaswita Kutepatil
Tactical communications market to gain traction across war-torn geographies, MEA to emerge as one of the crucial revenue pockets 2017-2024
General Dynamics’ latest innovations at Rhode Island quite vividly portray the firm’s powerful stance in tactical communications market. The demonstration, held in the third quarter of 2017, witnessed General Dynamics, a major aerospace & defense company partaking in U.S. tactical communications market share, exhibiting its ability to command, connect & control bluefin robotics UUVs (unmanned underwater vehicles) and third-party UAVs (Unmanned aerial vehicles) with a simulated submarine combat control center ashore via STAPLS (stackable air-powered launch system) at the U.S. Naval Undersea Warfare Center. The principal goal of the firm was to offer novel solutions to the two-way communications problems occurring underwater. Experts claim General Dynamics’ move to have quite an impact on the competitive spectrum of tactical communications industry, given that other companies would be emboldened to brainstorm an even more innovative range of solutions.
U.S. Tactical Communications Market Size, By Application, 2016 & 2024 (USD Billion)
The introduction of state-of-the-art technologies such as magnetic ear canal has helped in effectively promoting a two-way communication in covert & stealth conditions, on the grounds of which this technology finds massive applications in undercover operations, further strengthening the application spectrum of tactical communications market. This business sphere is also a witness to several strategic M&As, which have had a profound impact on the tactical communications industry outlook. Recently for instance, Evolving Systems Incorporation, a U.S. based telecom giant, has acquired Business Logic Systems, a UK headquartered telecom company, in a bid to expand its consumer base across the globe. Furthermore, the deal is slated to help expand Evolving Systems’ managed services platform to effectively offer tactical solutions to clients, in effect, strengthening its position in the regional tactical communications market.
Tactical communication products are extensively installed across building & construction, aviation, and public safety sectors. The escalating requirement for uninterrupted and covert communication during critical military & defense operations for public safety is expected to augment tactical communications industry size across public safety. The building and construction sector is also forecast to emerge as one of the most lucrative end-use domains in the ensuing years. One of the most vital reasons for the same is the consistent demand of headsets in this business space, for effective communication. The construction sector, which has been at its peak in the APAC zone – in countries such as India and China will thus emerge as a major growth avenue for tactical communications market.
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Speaking along similar lines, the regional governments across the APAC have lately been strengthening their defense sectors, via extensive funding. Furthermore, it is noteworthy to mention that the rapid industrialization across the region, coupled with the procurement of protective equipment & secured communication channels are likely to substantially impel Asia Pacific tactical communications industry size. India and China, being nearly at the forefront of the defense and construction sectors, have been predicted to emerge as the key revenue pockets for this continent.
Tactical communications have become a vital necessity across war-torn countries such as Syria. The prevalence of internal conflicts in countries like Nigeria has also necessitated the deployment of tactical communication products in the region. In consequence, this intensive demand for tactical headsets, PMRs, and related products would have a profound impact on Middle East and Africa tactical communications industry size, which is expected to emerge as a rather profitable growth avenue for the overall market in the ensuing years.
Extensive investments in R&D programs are expected to have a commendable impact on the product landscape of tactical communications market. Having recognized the same, firms such as Bose Corporation, TEA Headsets, FreeLinc Technologies Incorporation, and INVISIO Communications have been pouring in their finances in research and development activities. Bose Corporation, for instance, recently invested quite some amount to develop headsets for the aviation sector in order to provide excellent Bluetooth audio quality and personalized audio arrangement. In effect, tactical communications industry stands to gain an appreciable momentum in the years ahead, with a target revenue of over USD 30 billion by 2024.
Author Name : Dhananjay Punekar
Exoskeleton market to accrue commendable gains via healthcare applications over 2017-2024, North America to emerge as a major revenue pocket
ReWalk Robotics’ soft exoskeleton launch has apparently taken exoskeleton market by storm. The product has been exclusively designed by the USA-based exoskeleton industry player to help in the rehabilitation of patients suffering from lower leg limb disability due to strokes. The device would also help patients diagnosed with Parkinson’s and multiple sclerosis to heal faster and regain their balance. Characterized by technological innovations, exoskeleton market strives to bring about a transformation in rehabilitation devices for consumer comfort. In yet another breakthrough, Lowe’s companies Incorporation, a key player across the retail industry, and Virginia Tech, an educational institute & university based in the U.S., have built a soft & light exosuit to help the employees working in Lowe’s retail stores to easily lift and move heavy products across the store.
U.S. Exoskeleton Market, By Application, 2014-2024, (USD Thousand)
In the first quarter of 2017, exoskeleton market witnessed one of the most potentially lucrative deals, with Parker Hannifin Corporation, a key manufacturer of motion & control technologies, introducing a therapy software suite for its Indego exoskeleton across Europe. The new suite has made Indego a unique exoskeleton for non-trajectory based gait training & treatment. Furthermore, Lockheed Martin, a U.S. based aerospace, defense, and security firm, has also launched a computer-regulated exoskeleton device referred as FORTIS Knee Stress Release gear that helps soldiers counter stress on their legs & lower backs. It also improves their load carrying capacity and movement, preventing injuries and exhaustion. The advent of consecutive innovations will encourage other business players to follow suit, thereby contributing toward augmenting the overall exoskeleton industry size.
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Recently, scientists have unveiled a robotic exoskeleton that helps in restoring balance through accurate gait correction, thus avoid dangerous falls. The new device is also expected to help the elderly, amputees, and disabled people to maintain balance and steadiness. The WHO claims that potential falls resulting in fatal injuries are one of major causes of death. This is evident from the estimates – falls result in the death of over 640,000 people per year, with nearly 37.3 million severe falls requiring medical treatment.
Exoskeletons find wide applications across healthcare, industrial, and military sectors. The introduction of new technologies across the healthcare sector to ensure the safety coupled with the allocation of funds for healthcare will spur the product penetration. Healthcare applications are expected to account for nearly half of the exoskeleton market share by 2024, having contributed a substantial share in 2016. Furthermore, notable initiatives taken by various defense departments for manufacturing advanced exosuits for their army personnel are expected to spur exoskeleton market trends across the military sector, which is forecast to contribute over USD 900 million by 2024.
Exoskeletons are rapidly gaining momentum across myriad geographies. The huge presence of exosuit manufacturers and escalated product demand across military & healthcare sectors are anticipated to stimulate North America exoskeleton industry outlook. This regional market, as per estimates, is expected to record a CAGR of over 48% during 2017 to 2024, with U.S. being one of the key contributors. Mounting awareness about the beneficial use of industrial robotics in manufacturing activities and the rise in the production of wearable robots across the defense sector are predicted to be the key factors driving APAC exoskeleton industry, with China and South Korea forecast to be the major revenue pockets.
Major corporations such as ReWalk Robotics, Lockheed Martin, REX Bionics, Panasonic Corporation, and Cyberdyne Incorporation have made remarkable contributions toward augmenting exoskeleton market size in recent years. The recent breakthroughs witnessed across the business landscape indeed validate the claims put forward by market analysts, who state that exoskeleton industry size would be worth more than USD 3.4 billion by 2024.
Author Name : Dhananjay Punekar
Smart clothing market to outline the future of wearable technology, a CAGR of 50% estimated over 2017-2024
With the recent advent of smart socks, smart shirts, & even smart jackets, smart clothing market has been gaining momentum in the category of smart and future wearables technology. Smart clothing or e-Textile is steadily becoming a reality, as sensors, electronic, and digital technologies have blended seamlessly to offer the functionality of smart devices to textiles & clothing. This convergence of textile and digital industries is set to bring huge commercialization and standardization to the worldwide smart clothing market. As per a report compiled by Global Market Insight, Inc., smart clothing market is projected to grow at a healthy CAGR of 50% over 2017-2024 in terms of shipments.
Germany Smart Clothing Market Share, By Product, 2016 (USD Billion)
Smart clothing market: Enumerating the drivers and challenges
Smart clothing industry has been forecast to face certain challenges at its initial stages, notwithstanding the predictions made about it being one of most lucrative businesses in recent times. Some of these constraints lurk along the lines of high product prices, unreliability, and personal security threats. Moreover, on the technical front, the present-day challenges of smart clothing industry such as limited battery life, wireless technology, huge capital investment, wash ability, and complexity of data analysis remain consistent.
Data security and processing speed play a crucial role in healthcare, military & defense, and sports, on the grounds of which they can be classified as the prominent application arenas encompassed by smart clothing industry. The on-going research and advancements in sensor technology, the Internet of Things, and big data analysis, will prove to be reliable sources that can help smart clothing technology go mainstream. Industry experts foresee smart clothing market to move in a positive direction, as this technology holds immense growth potential across myriad application sectors. Companies are expected to pour in huge investments to develop this technology and expand its application spectrum. Moreover, with more and more players planning to harness the power of smart technology in the clothing industry, it is quite obvious for the wearables sector to witness a slew of product innovations. For instance, Google has been working with Levis on smart jackets that would allow the users to interact with their devices and control applications like music player, camera, and navigation. As technology evolves, it is expected that the global smart clothing market will facilitate colossal growth opportunities in healthcare, sports & fitness, military, and industrial applications.
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An insight into the application landscape of smart clothing market
Smart clothing is seen as a way to revolutionize and transform the healthcare sector, as it offers a huge potential for helping to improve an individual’s health. Smart clothing industry players are focusing on the idea of weaving electronics into a fabric like a shirt, or cap, or blanket that could perform specific patient care functions. Moreover, many medical device manufacturers and healthcare providers are actively monitoring smart clothing pilot projects and research that can track chronic diseases, help patients feel comfortable during hospital stays, track their health status, and boost health insights.
Military & defense
Several government institutions are investing in smart clothing industry to develop military uniforms that are technologically advanced and can also provide insights on the health of soldiers, injuries, the impact of bullets, explosions, and the like. This would generate lucrative growth prospects for smart clothing industry expansion in the military sector. As per estimates, the military and defense application within smart clothing market is estimated to witness the highest annual growth rate of 55% over 2017-2024.
The prominent players partaking in smart clothing industry share have been emphasizing on building partnerships with tech-giants & clothing firms, in conjunction with targeting their focus on diversifying their service spectrum. Recently, a Japanese startup firm Xenoma has launched a motion and gesture-tracking smart shirt called as the e-skin. Having been integrated with stretchable wires, sensors, and textile, e-skin is set to provide a larger platform for fitness and health monitoring. Ralph Lauren, Athos, and Catapult Sports are some of the other industry giants, who are actively investing in commercializing smart clothing technology in the coming years, which would undeniably create a profitable growth map for smart clothing market.
Author Name : Ojaswita Kutepatil