The global apparel market has witnessed a steady growth over the last few years, with demand primarily from segments such as sports, outdoor, and activewear. The major factors driving the growth of the apparel market are the growing middle-class population and its increased spending power. In addition, Athleisure wear has emerged as a popular trend in the fashion industry and is playing a significant role in driving the growth of the apparel market. The increasing demand for licensed sports merchandise has further led to an increased demand for ready-made apparel, thereby increasing the sales of sewing machines.
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As per Technavio, the introduction of connected sewing machines will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Sewing Machine Market: Introduction of Connected Sewing Machines
Technological innovations and inventions by prominent vendors have led to the development of connected or smart sewing machines. These machines are equipped with the Internet of things (IoT) technology, which extracts production data from sewing machine controllers for historical and real-time analysis, in a bid to improve productivity. Moreover, some of the sewing machines have smart Wi-Fi functions such as cloud storage, real-time app notifications, and automatic software updates. The wireless technology allows users to keep backups of designs online and enables the machines to have timely software updates. Thus, the emergence of connected sewing machines is expected to drive the sewing machines market growth during the forecast period.
“Factors such as the rising demand for portable sewing machines, and the expansion of distribution network will have a significant impact on the growth of the sewing machine market value during the forecast period,” says a senior analyst at Technavio.
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Sewing Machine Market: Segmentation Analysis
This market research report segments the sewing machine market by application (apparel, shoes, bags, and others), end-user (commercial and home office), and geographic landscape (APAC, North America, Europe, South America, and MEA).
The APAC region led the sewing machine market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the increasing penetration of the apparel and shoe industries in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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