Technology will transform textile and clothing sector

Significance

Augmented reality, big data analytics, 3D modeling, and connected devices are notable examples of new technologies that are already being used by the industry at different stages of the value chain.

Impacts

• As technologies fuel the demand for personalisation and customisation, firms in the sector will invest in real-time data analytics.
• The pandemic-linked rise in e-commerce will push innovation in integrated omnichannel retail.
• The demand for venture investment in innovation will rise, but lack of specialist knowledge among investors is a major barrier.
• The demand for sustainable products is rising despite the economic crises triggered by the pandemic.