Inspired by bright global market prospects for smart textile products, the Taiwan Textile Research Institute has helped establish the Taiwan Smart Textiles Alliance, bringing together related manufacturers as well as government and academic research units to develop innovative products, set up industrial standards and explore markets.
A study released by the US-based Grand View Research predicted that smart textiles will enjoy compound annual sales growth of over 35 per cent in the global market between 2016 and 2024, with the market scale to reach $9.3 billion by 2024. The report also found that Asia will be the fastest growth market in the world, with a compound annual increase of 38 per cent during the period.
The textiles alliance is seeking to cash in on the great sales potential for smart textiles. Launched in June 2016, the group now comprises around 40 member firms in different fields, including upstream materials suppliers, textile makers, electronics and systems suppliers, accreditation organizations, designers and marketing channels. The alliance is also aiming to build a sound ecosystem for the development of smart textiles in Taiwan. It is cooperating with related industrial associations, including the Taiwan Electrical and Electronic Manufacturers Association, to set up Chinese National Standards for smart textiles and is collaborating with accreditation institutes to establish relevant accreditation regulations and criteria.
With the help of the Taiwan Textile Research Institute, six alliance members will showcase a variety of smart textile products at a special pavilion at the COMPUTEX 2017, which will run May 30-June 3 at Taipei Nangang Exhibition Center and Taipei World Trade Center. The exhibits will include power-saving wireless physical sensing transmission modules, interactive textile fabrics and other smart textiles embedded with electronics components, from Ruentex, Everest Textile, AiQ/Tex-Ray Industrial, Sunstar Taiwan, Nine Million Tech and Maxtek Go-Go.