Market opportunity

Overview of the garment market

After the difficulties in 2020 during the COVID pandemic, when sales revenue across the garment industry is affected, the global demand for garment will flourish with significant changes to user needs and the way business units operate.

According to Statista, the revenue of the global garment market in 2021 will reach about 1500 billion USD and is expected to increase to about 2 trillion USD by 2026. In addition, the revenue from the custom garment market as of 2019 is 3.3 billion USD and is estimated to reach 5 billion USD in 2026, although still affected by disease factors and production supply disruptions. (According to MarketWatch),

The custom garment market is expected to have strong revenue growth based on an analysis of how business units are doing in order to meet the needs of users. One of these needs is the use of technology in the garment industry.

Application of technology in garment

In the current context, technology has changed many aspects in the production process. Automation connected on the basis of the internet of things, cloud computing, 3D printing technology, big data and AI will gradually replace and optimize the entire textile product supply chain.

That is the new direction in the development of projects to provide the most effective solutions in this long-standing field. That is also a great opportunity for SStyle.