Global Sewing Machine Market 2020-2024 | Rapid Growth in Apparel Industry to Boost Market Growth | Technavio

Technavio has announced its latest market research report titled Global Sewing Machine Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The sewing machine market is expected to grow by USD 11.96 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report

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:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

 

Release Summary

The sewing machine market size has the potential to grow by USD 11.96 billion during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/