Plunkett Research, Ltd., a Houston, Texas-based market research firm, has completed its latest research on the FinTech, Cryptocurrency & Electronic Payments Industry.  (See: https://www.plunkettresearch.com/industries/fintech-cryptocurrency-electronic-payments-industry-market-research/).  This revised and updated data is part of our massive Plunkett Research Online subscription service, where we continuously monitor the world’s 40 most vital business sectors, including such industries as retailing, artificial intelligence, health care, sports/recreation and much, much more.  Our analysts and market research continually monitor the world’s leading industries and companies and post thorough updates yearly.

Key Findings:

A complete market research report, including forecasts and market estimates, technologies analysis and developments at innovative firms within the FinTech, Cryptocurrency & Electronic Payments Industry.  Gain vital insights that can help shape strategy for business development, product development and investments.

Key Features:

• Business trends analysis
• In-depth industry overview
• Technology trends analysis
• Forecasts
• Spending, investment, and consumption discussions
• In-depth industry statistics and metrics
• Industry employment numbers
  
  

Additional Key Features Include:

Industry Glossary

Industry Contacts list, including Professional Societies and Industry Associations

Profiles of industry-leading companies

• U.S. and Global Firms
• Publicly held, Private and Subsidiaries
• Executive Contacts
• Revenues
• For Public Companies: Detailed Financial Summaries
• Statistical Tables
  
  

Key Questions Answered Include:

• How is the industry evolving?
• How is the industry being shaped by new technologies?
• How is demand growing in emerging markets and mature economies?
• What is the size of the market now and in the future?
• What are the financial results of the leading companies?
• What are the names and titles of top executives?
• What are the top companies and what are their revenues?
  
  

This feature-rich report covers competitive intelligence, market research and business analysis—everything you need to know about the FinTech, Cryptocurrency & Electronic Payments Industry.

Plunkett Research Provides Unique Analysis of the Following Major Trends Affecting the Fintech, Cryptocurrency & Electronic Payments Industry

1. Major Trends Affecting the FinTech, Cryptocurrency & Electronic Payments Industry
2. Introduction to the FinTech, Cryptocurrency & Electronic Payments Industry
3. Cryptocurrencies and Blockchain Explained
4. The Difference Between Cryptocurrencies and Stablecoins/National Treasuries Consider Issuing Stable Digital Currencies
5. Cryptocurrencies Used in Fraud and Money Laundering
6. BNPL (Buy Now Pay Later) Payment Options Have Strong Market Share
7. Digital Wallets Gain Payments Market Share
8. The SuperApp Begins to Develop in FinTech
9. Real Time Payments (RTP)/Instant Payments/FedNow to Grow
10. Neobanks/Virtual Banks Explained/Top Competitors
11. A Brief History of Artificial Intelligence (AI) and the State of the Industry Today
12. Voice, Face & Image Recognition Change the Wireless World, Artificial Intelligence (AI) Tools Added to Smartphones
13. Insurance Underwriting Uses Artificial Intelligence (AI)/Policy Holders Allow Their Habits to Be Tracked for Lower Insurance Rates
14. GenAI Agents & Robotic Process Automation (RPA) Are Replacing Human Workers
15. Digital Assistants Include Amazon’s Echo and Google’s Home/Alexa and Similar Software Power Third-Party Developers
16. Growth in Big Data Supported by Expansion of Cloud Computing and Predictive Analytics
17. Artificial Intelligence (AI) Powers Hedge Fund Investment Strategies
18. Banks and Apps Vie for Previously Underserved Markets, Including Hispanics
19. China Sees Growth in Online Payments, Banking and Lending/Alipay Soars
20. Smartphones and Neobanks Replace Bank Branches and Tellers
21. Peer-to-Peer (P2P) Payment Systems, such as Zelle and Venmo, Soar in Popularity
22. In Emerging Nations, mChek and M-PESA Enable Remote Banking via Smartphone
23. Online Competition Changes the Mortgage Industry
24. Open Banking Revolutionizes the World of Banking and Finance
25. Financial Technology (FinTech) Enables Online Lending, Insurance and Robo Advisors
26. The Future of Banking, Credit Cards, Mobile Payments and Mortgages

Plunkett Research Provides In-Depth Tables for the Following Fintech, Cryptocurrency & Electronic Payments Industry Statistics

1. FinTech, Cryptocurrency & Electronic Payments Industry Statistics and Market Size Overview
2. Global Digital, Network, Computer & Telecom Industries–Key Statistics & Market Size Overview
3. Artificial Intelligence Industry Statistics and Market Size Overview
4. Investment & Securities Industry Statistics and Market Size Overview
5. U.S. Banking, Mortgages & Credit Industry Statistics and Market Size Overview
6. Global Credit Card Industry Statistics and Market Size Overview
7. FDIC Insured Institution Statistics: Second Quarter 2024
8. Employment in the Banking Industry, U.S.: 2019- April 2025

7.21.25

The consulting industry is in the midst of a seismic transformation. Fueled by emerging technologies, globalization, changing client expectations, and economic fluctuations, today’s consultancies are navigating an increasingly dynamic and demanding business environment. According to Plunkett Research, global consulting revenues are expected to exceed $1.29 trillion in 2024, with U.S. consulting alone contributing over $430 billion. As firms adapt to this evolution, several key trends are shaping the future of the industry.

Even more information on this industry is available! Check out our Consulting Industry Center!

Plunkett’s Consulting Industry eBook, latest edition.

1. The AI Revolution in Consulting

Artificial Intelligence (AI) and Robotic Process Automation (RPA) are reshaping consulting from the inside out. Consultancies are deploying generative AI to automate repetitive tasks such as research, report generation, and proposal writing. Tools like ChatGPT are becoming integral in drafting strategy decks and analyzing market data. McKinsey’s 2023 record revenue of $16 billion is attributed in part to its AI-driven service offerings.

Additionally, AI agents are stepping into front-line roles. Amelia, an AI assistant, now handles millions of customer interactions for firms like Allstate and Telefonica. Salesforce’s Agentforce allows clients to build AI-driven procurement and customer support bots. This rapid AI adoption not only boosts productivity but also redefines the roles of human consultants.

2. Contingency and Value-Based Pricing

Gone are the days when consultants billed freely by the hour. Clients now demand measurable ROI, which has led to widespread adoption of value-based and contingency pricing. Firms such as Bain & Company pioneered this model, accepting partial payment based on the success of their recommendations. This pricing structure aligns consultant incentives with client outcomes, increasing accountability while intensifying competitive pressure.

3. Expansion of Internal Consulting Teams

Organizations like Disney, Ritz-Carlton, and Pfizer are developing their own internal consulting units, aiming to cut costs, retain knowledge, and better align strategy with corporate culture. Some of these internal teams are even offering services to external clients. This trend is particularly prevalent in customer-centric industries, such as hospitality, where internal expertise is monetized and turned into brand-building consultative ventures.

4. Globalization and Emerging Market Growth

Major consulting firms have long expanded into global markets, but the growth of consulting in emerging economies—especially India, China, and Brazil—is now accelerating. India, in particular, has become a hotbed of consulting talent, thanks to its robust education pipeline and lower labor costs. Indian powerhouses like Infosys and Tata Consultancy Services (TCS) are now global players, offering end-to-end IT and business consulting solutions.

These firms leverage their scale and cost advantage to win contracts traditionally held by Western firms. To compete, U.S. and European consultancies are acquiring local firms or setting up regional hubs in developing nations.

5. IT Consulting’s Continued Dominance

Information technology remains one of the largest and fastest-growing segments in the consulting industry. Areas such as cloud computing, data analytics, mobile development, cybersecurity, and the Internet of Things (IoT) are driving demand. As companies undergo digital transformations, they are relying on IT consultants to modernize operations and ensure system interoperability across platforms.

Meanwhile, cloud-based platforms like Amazon Web Services and Microsoft Azure are becoming standard infrastructure, and consultancies are helping clients migrate, optimize, and secure their data in the cloud.

6. Offshoring and Knowledge Process Outsourcing (KPO)

What began as a strategy to cut costs by offshoring call center operations has evolved into a global redistribution of high-value consulting tasks. Knowledge Process Outsourcing (KPO) involves offshoring skilled work—such as legal research, accounting, financial analysis, and even architecture—to countries with large pools of educated, English-speaking professionals.

Firms are now entrusting offshore teams with critical tasks like tax preparation, software engineering, and regulatory compliance. High-security data environments and real-time collaboration tools have enabled seamless remote delivery of these services.

7. Cross-Industry Competition and Consulting Hybrids

Today, consulting is no longer the exclusive domain of traditional firms like McKinsey or BCG. Tech giants like IBM and Oracle have expanded their offerings to include consulting services. Simultaneously, many manufacturers and service providers now bundle consultative offerings with their core products. For instance, telecom equipment manufacturers offer strategic consulting to help clients implement and optimize systems.

This proliferation of hybrid service models creates both competition and opportunities for partnerships, as consulting becomes embedded in end-to-end business solutions.

8. Accounting Firms Regain Dominance in Consulting

After a period of regulatory retreat, the Big Four accounting firms—PwC, Deloitte, EY, and KPMG—have reasserted themselves in the consulting space. These firms now generate more consulting revenue than many traditional consulting giants, aided by large-scale acquisitions and the integration of IT, strategy, and compliance expertise.

PwC’s acquisition of Booz & Company (now Strategy&) and Deloitte’s aggressive expansion into digital and tech consulting underscore how accounting firms are becoming one-stop shops for advisory services.

9. Specialization and Niche Expertise

As competition grows fiercer, boutique consultancies are thriving by focusing on niche areas such as environmental regulation, supply chain optimization, or personalized medicine. With major corporations demanding faster results, leaner firms that deliver specialized solutions often have a competitive edge. Even larger consultancies are organizing teams around highly specific industry verticals and regulatory domains.

10. Gen Z and MBA Grads Flock to Consulting

Despite the demanding workload, consulting remains one of the most coveted career paths for new MBAs. The field offers prestige, strong compensation, and broad exposure to complex business challenges. A 2024 Universum survey ranked consulting and accounting among the top desired career sectors for business students, signaling that talent pipelines remain robust.

In response, firms are investing in work-life balance initiatives, hybrid work policies, and faster career progression to retain top talent. Some, like North Highland, are pioneering local-only assignments to reduce travel and increase employee satisfaction.

Key Concepts:  Consulting, management, human resources, manufacturing, services, operations, finance, economics, business, globalization, corporations, computers, information technology, research, innovation, artificial intelligence (AI)

Source: Plunkett Research, Ltd., Copyright © 2025

Plunkett Research, Ltd., a Houston, Texas-based market research firm, has completed its latest research on the Consulting Industry.  (See: https://www.plunkettresearch.com/industries/consulting-market-research/).  This revised and updated data is part of our massive Plunkett Research Online subscription service, where we continuously monitor the world’s 40 most vital business sectors, including such industries as retailing, artificial intelligence, health care, sports/recreation and much, much more.  Our analysts and market research continually monitor the world’s leading industries and companies and post thorough updates yearly.

Key Findings:

A complete market research report, including forecasts and market estimates, technologies analysis and developments at innovative firms within the Consulting Industry.  Gain vital insights that can help shape strategy for business development, product development and investments.

Key Features:

• Business trends analysis
• In-depth industry overview
• Technology trends analysis
• Forecasts
• Spending, investment, and consumption discussions
• In-depth industry statistics and metrics
• Industry employment numbers
  
  

Additional Key Features Include:

Industry Glossary

Industry Contacts list, including Professional Societies and Industry Associations

Profiles of industry-leading companies

• U.S. and Global Firms
• Publicly held, Private and Subsidiaries
• Executive Contacts
• Revenues
• For Public Companies: Detailed Financial Summaries
• Statistical Tables
  
  

Key Questions Answered Include:

• How is the industry evolving?
• How is the industry being shaped by new technologies?
• How is demand growing in emerging markets and mature economies?
• What is the size of the market now and in the future?
• What are the financial results of the leading companies?
• What are the names and titles of top executives?
• What are the top companies and what are their revenues?
  
  

This feature-rich report covers competitive intelligence, market research and business analysis—everything you need to know about the Consulting Industry.

Plunkett Research Provides Unique Analysis of the Following Major Trends Affecting the Consulting Industry

1. Major Trends Affecting the Consulting Industry
2. Introduction to the Consulting Industry
3. Consulting in Emerging Nations/The Offshoring of Consulting Projects
4. Management Consulting and Consulting to Major Corporations
5. Consulting to Governments/U.S. Federal and State Consulting Contracts
6. Federal Government Consulting Contracts Are Massive in IT, Defense & Facilities
7. IT Consulting/Software Consulting/ Computer Operations Consulting
8. Trends in Manufacturing, such as Original Design Manufacturers (ODMs), Lead to Collaboration and Consulting-Like Services
9. Consulting Firms Accept Assignments with Contingency Fees
10. Consulting Firms Acquire Digital Advertising Agencies, Extending Their Marketing Services
11. Accounting Firms Taking Large Market Share of Consulting Contracts
12. Many Industry Sectors Seek Consulting and Outsourcing Income, Competing with Pure Consultancies
13. Major Corporations and Organizations Develop Internal Consultants and Seek Outside Clients
14. Corporate Clients Want Solid Returns on IT Investments
15. Consultancies Position Themselves to Serve Global Markets and Multinational Corporations
16. Offshoring to India Drives Changes in Global Consulting
17. BPO and KPO: White-Collar and Professional Tasks such as Law and Accounting Are Offshored/Call Centers Become More Sophisticated
18. GenAI Agents & Robotic Process Automation (RPA) Are Replacing Human Workers
19. Consulting and Accounting Firms Rapidly Adopt Generative AI
20. New MBAs Desire Consulting and Accounting Jobs

Plunkett Research Provides In-Depth Tables for the Following Consulting Industry Statistics

1. Consulting Industry Statistics and Market Size Overview
2. Consulting Industry Revenue & Expenses, U.S.: 2017-2022
3. Management Consulting Companies: Estimated Sources of Revenue, U.S.:2018-2022
4. Consulting Industry Employment, U.S.: 2019-April 2025

7.15.25

The real estate and construction industries are pivotal to global economic development, employing millions and shaping the landscapes of our cities and communities. In 2025, these industries are navigating a complex mix of economic pressures, technological innovation, and evolving consumer preferences. Here’s a deep dive into the most significant trends currently transforming real estate and construction.

Even more information on this industry is available!  Check out our Real Estate Industry Center.

Plunkett’s Real Estate & Construction Industry eBook, latest edition.

1. High Interest Rates and the Housing Affordability Crisis

The housing market is under significant pressure from sustained high interest rates. As of mid-2025, mortgage rates have risen to levels that make homeownership unattainable for many households, including dual-income families. The median price for a new home now exceeds $420,000, and homeownership rates have declined to 65.6% from their 2006 peak of 68.9%.

This has driven a surge in demand for rental housing. In 2024 alone, a record-breaking 500,000 new apartment units were completed, with the national vacancy rate at 7.1%. Yet, rents remain high, and the cost gap between renting and owning has widened, making renting the more affordable option for many Americans.

2. Digital Disruption and the Rise of Online Real Estate Services

Digital transformation continues to reshape the real estate landscape. Platforms like Zillow, Redfin, and LendingTree offer consumers the ability to search for homes, compare mortgages, and apply for loans entirely online. These services are challenging traditional real estate broker models.

A significant development was a 2023 court ruling awarding $1.8 billion in damages to sellers who overpaid commissions to traditional brokers, spurring broader calls for commission reform. Broker fees are now trending downward, often negotiated between 3% to 5% of the home’s sale price, down from the historical 6%.

3. Green Building and Sustainability Take Center Stage

Sustainability is now a mainstream priority in real estate development. Builders are increasingly adopting LEED and Green Globes certifications, integrating energy-efficient appliances, improved insulation, solar panels, and water-saving technologies. Cities like New York have passed ambitious mandates such as Local Law 97, requiring large buildings to reduce emissions by 40% by 2030.

Zero-energy homes—buildings that produce as much energy as they consume—are gaining ground, particularly in sunny regions like the American Southwest. Though initial construction costs may be 10-20% higher, these homes promise long-term savings on utilities and greater resilience amid rising energy prices.

4. Technological Innovation: Robotics, Prefabrication, and 3D Printing

The construction sector is embracing modernization through off-site prefabrication, robotics, and 3D printing. Panelization, where walls, staircases, and even entire rooms are fabricated in factories and assembled on-site, is helping to address labor shortages and reduce costs. Firms like PulteGroup and Lennar are adopting these methods, and startups like ICON are building 3D-printed homes using proprietary concrete technologies.

Robotic assembly lines, such as those employed by Blueprint Robotics and Project Frog, are now producing entire building modules, further accelerating timelines and improving quality control.

5. Smart Homes and IoT Integration

The Internet of Things (IoT) is revolutionizing how homes are designed and operated. Smart thermostats, lighting systems, security devices, and voice-activated controls are becoming standard features in new developments. Companies like Amazon (through Alexa and Ring) and Google (via Nest) are expanding their smart home ecosystems, offering consumers improved energy efficiency and convenience.

6. Demographic Shifts and Aging in Place

The aging Baby Boomer generation is reshaping housing demand. More than 10,000 Americans turn 65 every day, creating strong demand for senior living facilities, retirement communities, and “universal design” homes—residences adapted for aging in place with features like step-free entryways, wider doorways, and touch-free appliances.

Builders and zoning authorities are increasingly creating multigenerational housing solutions, such as “granny flats” or attached living units, to accommodate older adults living with family while maintaining some level of independence.

7. The Evolution of Retail and Mixed-Use Developments

Retail real estate is adapting to ecommerce and changing consumer habits. While some malls face declining foot traffic and rising vacancies, others are transforming into lifestyle hubs featuring luxury retailers, restaurants, fitness centers, and even residential units. Projects like The RO in Houston and Victory Park in Dallas illustrate the growing trend toward vertical, mixed-use developments that combine work, living, and leisure in a single footprint.

High-end malls are also incorporating Instagrammable experiences and partnering with luxury brands to attract younger, affluent shoppers. Meanwhile, defunct retail spaces are being repurposed into fulfillment centers, clinics, or educational facilities.

8. Remodeling and DIY Renovation Trends

While large-scale construction has slowed due to high material and labor costs, the remodeling market is stabilizing after post-pandemic volatility. Homeowners are investing in energy-efficient retrofits, solar installations, and dedicated home office spaces. The rise of do-it-yourself (DIY) renovations, particularly among younger homeowners, has spurred demand for short-term rentals of construction tools and equipment.

There is also increased interest in universal design renovations, as aging populations seek to remain in their homes longer, further fueling demand for accessible remodeling features.

9. The Urban-Suburban Tug-of-War

The long-term impact of remote work on urban planning is still unfolding. While some predicted a mass urban exodus, many professionals still prefer walkable city living. However, remote-capable knowledge workers are increasingly relocating to smaller cities offering high quality of life, affordable housing, and strong internet infrastructure. This has driven growth in areas like Boise, Idaho; Bryan-College Station, Texas; and parts of Florida and Utah.

Meanwhile, some cities are rethinking their infrastructure and zoning to promote transit-oriented, mixed-use developments near commuter rail hubs—a model that fosters sustainable urban living.

10. Challenges in International Markets: Spotlight on China

In China, once-booming real estate markets are now under stress. After years of overbuilding and speculative investment, many projects remain unfinished or unoccupied, particularly in smaller cities. Prices in major hubs like Beijing have stagnated, while resale prices are declining. In response, the Chinese government is easing mortgage requirements and increasing financial support to stabilize the market.

The real estate and construction industries in 2025 are characterized by both challenge and innovation. High interest rates and affordability concerns are dampening traditional homeownership, while technology, sustainability, and demographic shifts are creating exciting new opportunities. Stakeholders who adapt to these trends—embracing digital tools, green design, modular construction, and evolving consumer preferences—will be best positioned to thrive in the years ahead.

Key Concepts:  Real estate, housing, construction, development, green buildings, sustainability, communities, mortgages, architecture, business, investing, finance, economics, globalization, marketing, aging in place

Source: Plunkett Research, Ltd., Copyright © 2025

Plunkett Research, Ltd., a Houston, Texas-based market research firm, has completed its latest research on the Real Estate & Construction Industry.  (See: https://www.plunkettresearch.com/industries/real-estate-construction-market-research/).  This revised and updated data is part of our massive Plunkett Research Online subscription service, where we continuously monitor the world’s 40 most vital business sectors, including such industries as retailing, artificial intelligence, health care, sports/recreation and much, much more.  Our analysts and market research continually monitor the world’s leading industries and companies and post thorough updates yearly.

Key Findings:
A complete market research report, including forecasts and market estimates, technologies analysis and developments at innovative firms within the Real Estate & Construction Industry.  Gain vital insights that can help shape strategy for business development, product development and investments.

Key Features:

• Business trends analysis
• In-depth industry overview
• Technology trends analysis
• Forecasts
• Spending, investment, and consumption discussions
• In-depth industry statistics and metrics
• Industry employment numbers
  
  

Additional Key Features Include:
Industry Glossary

Industry Contacts list, including Professional Societies and Industry Associations

Profiles of industry-leading companies

• U.S. and Global Firms
• Publicly held, Private and Subsidiaries
• Executive Contacts
• Revenues
• For Public Companies: Detailed Financial Summaries
• Statistical Tables
  
  

Key Questions Answered Include:

• How is the industry evolving?
• How is the industry being shaped by new technologies?
• How is demand growing in emerging markets and mature economies?
• What is the size of the market now and in the future?
• What are the financial results of the leading companies?
• What are the names and titles of top executives?
• What are the top companies and what are their revenues?
  
  

This feature-rich report covers competitive intelligence, market research and business analysis—everything you need to know about the Real Estate & Construction Industry.

Plunkett Research Provides Unique Analysis of the Following Major Trends Affecting the Real Estate & Construction Industry

1. Major Trends Affecting the Real Estate & Construction Industry
2. Introduction to the Real Estate & Construction Industry
3. High Interest Rates Hinder Mortgage Originations, Slow Home Sales & Create Challenges for Commercial Real Estate
4. Online Competition Changes the Mortgage Industry
5. Apartment Market Evolves Due to New Construction and High Interest Rates
6. Real Estate Online Services Continue to Grow
7. Internet-Based Home Sales and Court Rulings on Commissions Challenge Residential Brokers
8. Homes and Commercial Buildings Seek Green Certification
9. Building Technologies Advance/Robotics & 3D Printing Used in Construction
10. Baby Boomers Become a Strong Influence in the Housing Market/Universal Design Improves Aging in Place
11. Real Estate Markets in China Face Challenges
12. Mixed-Use Developments Go Vertical
13. Malls and Shopping Centers Adapt to New Technologies and Ecommerce
14. Malls Remodel & Update Strategies to Boost Sales and Attract Shoppers
15. Remodeling Market Is on the Upswing
16. Shared Spaces for Co-Living and Co-Working Face Challenges
17. The Internet of Things (IoT) and the Smart Home
18. The Future of Housing/The Future of Cities

Plunkett Research Provides In-Depth Tables for the Following Real Estate & Construction Industry Statistics

1. Real Estate & Construction Industry Statistics and Market Size Overview
2. Value of U.S. Private Construction Put in Place: 2018-2024
3. Value of U.S. Public (Government) Construction Put in Place: 2018-2024
4. Estimates of the Total Housing Inventory for the U.S.: 2023-2024
5. Commercial, Residential & Farm Mortgages by Holder, U.S.: 2016-2024
6. Home Mortgages by Holder, U.S.: 2016-2024
7. Mortgage Loans Outstanding, U.S.: 1985 – 2024
8. New Privately-Owned Housing Units Started, U.S.: 1985-2024
9. Homeownership Rates by Region, U.S.: Selected Years, 1965-2024
10. Average Sales Prices of New Homes Sold in U.S.: 1963-2024
11. Median & Average Sales Price of New Single Family Homes by Region, U.S.: 1990-2024
12. Construction Industry Employment, U.S.: 2020-April 2025
13. Miscellaneous Real Estate & Construction Industry Employment, U.S.: 2020 – March 2025

Credit: iStock.com/LeventKonuk

7.10.25

The engineering and research sectors are undergoing a sweeping evolution. Once confined to government labs or corporate R&D centers, innovation is now a global enterprise, shaped by advances in digital technologies, cross-border collaboration, and a pressing need to address global challenges—from clean energy to personalized medicine.

Even more information on this industry is available!  Check out our Engineering Industry Center.

Plunkett’s Engineering & Research Industry eBook, latest edition.

1. Unprecedented Growth in Global R&D Investment

R&D spending has reached historic highs, exceeding $2.7 trillion globally in 2024. While the United States continues to lead in absolute R&D investment, the global distribution of innovation is shifting rapidly. Nations such as China, India, Israel, and South Korea are significantly ramping up their investments, with China investing over $780 billion last year alone.

China’s strategy combines massive funding for research parks, a sharp rise in science and engineering graduates, and a focus on patent development. Meanwhile, India is emerging as a critical player through its biotech corridors and defense research investments. Countries like Singapore and Taiwan are also fostering innovation through robust IP frameworks and incentives for high-tech sectors.

This global expansion has ushered in a more collaborative and competitive R&D environment. Companies now operate across multiple international hubs, tapping into local expertise, cost advantages, and government support programs.

2. Artificial Intelligence: The New Research Assistant

Artificial Intelligence (AI) has become the backbone of modern engineering and scientific research. In engineering, AI is transforming traditional design processes through simulation, predictive modeling, and optimization. These capabilities reduce time-to-market and enable agile, high-precision engineering—especially critical in sectors like aerospace, automotive, and manufacturing.

In the research realm, AI’s impact is even more profound. It accelerates drug discovery by analyzing molecular structures, predicts disease outbreaks using vast health datasets, and aids in materials science by modeling the behavior of new compounds. AI is also vital for managing the massive volumes of data produced by research teams and instruments, particularly in genomics, climate science, and particle physics.

As AI models become more interpretable and scalable, their integration into day-to-day R&D will deepen, changing the very nature of how research questions are framed and answered.

3. The Biotechnology Revolution

We are at the cusp of a “bioindustrial era,” where biology is increasingly used as a platform for innovation. This trend is driven by breakthroughs in genetic engineering (e.g., CRISPR), biomanufacturing, and synthetic biology.

Pharmaceutical companies are using advanced genomic techniques to develop targeted therapies, dramatically improving treatment outcomes in oncology and rare diseases. At the same time, bioengineering is being applied to agriculture, with genetically edited crops enhancing yield, resistance, and sustainability.

Biomanufacturing is another key frontier. Engineered microbes are producing chemicals, enzymes, and even plastics more efficiently and sustainably than traditional methods. Countries such as Singapore, China, and the U.S. are investing in large-scale biotech campuses to support these developments.

Moreover, ethical and regulatory challenges in biotechnology are prompting the rise of new frameworks for responsible innovation, balancing progress with public trust and safety.

4. Sustainable Engineering and Electrification

The global engineering landscape is being reshaped by the urgent need for sustainable solutions. Electrification, particularly in transportation, is at the forefront. Electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) are gaining mass-market acceptance, with more than 14 million EVs sold in 2023 alone.

Automakers are investing heavily in battery research to improve energy density, lifespan, and charging speeds. However, the EV transition faces challenges such as the scarcity of rare earth materials, dependence on Chinese supply chains, and the uneven availability of charging infrastructure.

Hydrogen fuel cell technology, long viewed as futuristic, is gaining traction in commercial transportation, particularly for long-haul trucking and maritime applications. Countries like Japan and Germany are spearheading pilot projects and infrastructure development for hydrogen ecosystems.

Beyond transportation, engineering firms are also advancing in carbon capture, renewable energy integration, and the development of sustainable materials—key enablers of a circular economy.

5. The Rise of Commercial Space Research

Once the sole domain of government agencies, space exploration and research are rapidly commercializing. Companies like SpaceX, Blue Origin, and Rocket Lab are redefining launch economics through reusable rocket technology, significantly reducing the cost of accessing space.

These advancements are opening up new opportunities: high-speed global internet via satellite constellations, space-based manufacturing of semiconductors and pharmaceuticals, and even space tourism. For engineering teams, designing equipment that can withstand space environments—extreme temperature, radiation, and microgravity—is an expanding area of innovation.

Moreover, geopolitical interests are spurring renewed investment in space by nations seeking strategic advantages. This includes not only defense applications but also space mining, surveillance, and climate monitoring.

The increasing presence of private actors is leading to more dynamic regulatory discussions and public-private partnerships that will shape the next chapter of space research.

6. Advanced Materials and Robotics Redefining Manufacturing

The integration of new materials and automation technologies is revitalizing the manufacturing landscape. High-performance polymers, nanocomposites, and carbon-based materials (such as graphene) are enabling lighter, stronger, and more energy-efficient components for industries ranging from aerospace to consumer electronics.

In parallel, industrial robotics and automation systems—powered by AI and computer vision—are improving efficiency and consistency in manufacturing. Robotics are particularly crucial in high-cost labor markets, where they offer competitive alternatives to offshoring.

Smart factories, equipped with IoT sensors and real-time data analytics, are becoming more common. These “Industry 4.0” environments allow predictive maintenance, digital twins for production lines, and seamless integration between design, testing, and manufacturing functions.

This convergence of materials science and robotics not only boosts productivity but also fosters greater customization and resilience in supply chains.

7. Future Outlook

The engineering and research sectors are no longer insulated, siloed domains. Instead, they are dynamic, interconnected ecosystems where cross-disciplinary collaboration and global integration are the norm. The convergence of AI, biotechnology, sustainable technologies, and advanced manufacturing is pushing the boundaries of what’s possible.

For professionals, this means acquiring hybrid skills that span data science, systems thinking, and domain expertise. For organizations, it requires reimagining how R&D is structured, funded, and scaled—often through partnerships that cross borders and sectors.

Most importantly, the innovation economy of 2025 and beyond will be defined by its ability to address humanity’s most pressing challenges: health, sustainability, resilience, and knowledge. Engineering and research, now more than ever, stand at the heart of that mission.

Key Concepts: Research, CAD CAM, internet, design, software, networks, artificial intelligence (AI), hardware, jobs, innovation, investing, marketing, finance, technology, business

Source: Plunkett Research, Ltd., Copyright © 2025

Plunkett Research, Ltd., a Houston, Texas-based market research firm, has completed its latest research on the Engineering & Research Industry.  (See: https://www.plunkettresearch.com/industries/engineering-rd-technology-market-research/).  This revised and updated data is part of our massive Plunkett Research Online subscription service, where we continuously monitor the world’s 40 most vital business sectors, including such industries as retailing, artificial intelligence, health care, sports/recreation and much, much more.  Our analysts and market research continually monitor the world’s leading industries and companies and post thorough updates yearly.

Key Findings:

A complete market research report, including forecasts and market estimates, technologies analysis and developments at innovative firms within the Engineering & Research Industry.  Gain vital insights that can help shape strategy for business development, product development and investments.

Key Features:

• Business trends analysis
• In-depth industry overview
• Technology trends analysis
• Forecasts
• Spending, investment, and consumption discussions
• In-depth industry statistics and metrics
• Industry employment numbers
  
  

Additional Key Features Include:

Industry Glossary

Industry Contacts list, including Professional Societies and Industry Associations

Profiles of industry-leading companies

• U.S. and Global Firms
• Publicly held, Private and Subsidiaries
• Executive Contacts
• Revenues
• For Public Companies: Detailed Financial Summaries
• Statistical Tables
  
  

Key Questions Answered Include:

• How is the industry evolving?
• How is the industry being shaped by new technologies?
• How is demand growing in emerging markets and mature economies?
• What is the size of the market now and in the future?
• What are the financial results of the leading companies?
• What are the names and titles of top executives?
• What are the top companies and what are their revenues?
  
  

This feature-rich report covers competitive intelligence, market research and business analysis—everything you need to know about the Engineering & Research Industry.

Plunkett Research Provides Unique Analysis of the Following Major Trends Affecting the Engineering & Research Industry

1. Major Trends Affecting the Engineering & Research Industry
2. Introduction to the Engineering & Research Industry
3. A Short History of U.S. Industrial Research & Development
4. R&D Expands in Chinese Research Parks/Patent Filings Soar
5. Outsourcing and Offshoring of Research, Development and Engineering Grow Along With Globalization
6. Original Design Manufacturing (ODM) Adds Value to Contract Electronics Manufacturing
7. The State of the Biotechnology Industry Today
8. Nations Compete Fiercely in Biotech Development
9. Globalization and Worldwide Collaboration Fuel the Research Efforts of Major Corporations
10. Number of Patent Applications Remains High/Patent Laws Change
11. 3D Printing (Additive Manufacturing), Rapid Prototyping and Computer Aided Design
12. Industrial Robots and Factory Automation Advance Through Artificial Intelligence (AI)
13. Fuel Cell and Hydrogen Power Research Continues/Fuel Cell Cars Enter Market
14. Electric Cars (EVs) and Plug-in Hybrids (PHEVs) Spur Changes at Auto Makers/Hybrid Sales See Sharp Growth
15. Major Technology Research in Batteries/Massive Investments in Battery Factories and Power Storage
16. Supercomputing Hits 1,742 Petaflops
17. Superconductivity Provides Advanced Electricity Distribution Technology
18. Private, Reusable Rockets Launch Commercial Satellites and Serve Both the U.S. Military & NASA
19. Technology Discussion—Synthetic Biology
20. The Future of Transportation and Supply Chains: Massive Investments in Infrastructure & Mobility Services
21. HPTP Thermoplastics, Thermoset and Engineered Plastics Enable Advanced Products/Nanocomposites Offer the Ultimate in Advanced Materials
22. Artificial Intelligence (AI), Deep Learning and Machine Learning Advance into Commercial Applications, Including Health Care and Robotics
23. Artificial Intelligence (AI) Enables Efficiencies and Accelerated Innovation in R&D
24. The Future of Space Commercialization and Private Rocket Launch Services

Plunkett Research Provides In-Depth Tables for the Following Engineering & Research Industry Statistics

1. Engineering & Research Industry Statistics and Market Size Overview
2. Quarterly Engineering & Research Industry Revenues, U.S.: 2024
3. Engineering & Scientific Research & Development Services: Estimated Sources of Revenue, U.S.: 2018-2022
4. Federal R&D Funding by Character of Work and Facilities and Equipment, U.S.: Fiscal Years 2023-2025
5. Federal R&D Budget & Distribution by Agency, U.S.: Fiscal Years 2023-2025
6. Federal R&D & R&D Plant Funding for National Defense, U.S.: Fiscal Years 2023-2025
7. Federal R&D & R&D Plant Funding for Health and Human Services, U.S.: Fiscal Years 2023-2025
8. Federal R&D & R&D Plant Funding for Space Flight, Research & Supporting Activities, U.S.: Fiscal Years 2023-2025
9. NASA Budget Appropriations & Projections: 2023-2029
10. Federal R&D & R&D Funding for Basic Research, U.S.: Fiscal Years 2023-2025
11. Federal R&D & R&D Plant Funding for Agriculture, U.S.: Fiscal Years 2023-2025
12. Federal R&D & R&D Plant Funding for Transportation, U.S.: Fiscal Years 2023-2025
13. Federal R&D & R&D Plant Funding for Energy, U.S.: Fiscal Years 2023-2025
14. U.S. Department of Energy Funding for Science & Energy Programs: 2023-2025
15. U.S. National Nanotechnology Initiative (NNI) Budget: Fiscal Years 2023-2025
16. NSF Budget by Appropriation (Dollars in Millions), Fiscal Years 2023-2025
17. Research Funding for Biological Sciences, U.S. National Science Foundation: Fiscal Years 2023-2025
18. Research Funding for Engineering, U.S. National Science Foundation: Fiscal Years 2023-2025
19. Top 30 U.S. Patent Recipient Organizations: 2024
20. The U.S. Drug Discovery & Approval Process
21. Employment in Engineering Occupations by Business Type, U.S.: 2021 – 2025
22. Employment in Life & Physical Science Occupations by Business Type, U.S.: May 2024

Credit: iStock.com/MaximShebeko

6.30.25

The global restaurant, hotel, and hospitality industry is on track to hit historic highs in 2025. Restaurant sales will near $2.6 trillion, global hotel revenues will reach $955 billion, and U.S. food service revenues alone have surpassed $1.1 trillion. These numbers mark a strong rebound from the pandemic’s lows—but behind the recovery is a rapidly transforming landscape driven by new consumer behaviors, rising wages, and disruptive technologies. Here are the most important trends defining this dynamic sector.

Even more information on this industry is available!  Check out our Restaurant Industry Center.

Plunkett’s Restaurant, Hotel & Hospitality Industry eBook, latest edition.

1. Labor Shortages Fuel Automation and AI Integration

Labor scarcity is a mounting challenge.  In the U.S., hospitality wages are climbing, California’s 2024 fast-food law mandates a minimum $20 per hour for large chains.  Hotels and restaurants, long reliant on large low-wage workforces, now face both political and demographic pressure to increase pay.  The response?  Automation.  Restaurants are introducing robotics like “Flippy” for burger flipping and AI-enhanced kiosks for customer orders.  McDonald’s and Wendy’s are investing in smaller, drive-thru-only formats featuring self-service kiosks and mobile ordering lockers.  Yum! Brands, parent company of Taco Bell and KFC, is deploying AI voice-ordering at 500 U.S. locations in 2025, a shift expected to improve speed, reduce labor needs, and boost average order value.  Hotels, too, are adopting AI-driven concierges and IoT-enabled rooms that automate climate, lighting and entertainment preferences.

2. Rise of Ghost Kitchens and Delivery-Only Models

Consumers’ pandemic-era digital habits have become permanent.  Delivery apps like DoorDash and Uber Eats still claim 15–30% of every restaurant check. This has given rise to ghost kitchens which are delivery-only cooking facilities with no customer seating, signage, or service staff.  Platforms like CloudKitchens, Wonder and Grubhub are enabling operators to launch multiple virtual brands from a single kitchen, maximizing output while minimizing overhead.  These models are ideal for densely populated areas and cater to the growing demand for convenience.

3. Experience-Driven Travel and Dining

Today’s travelers, especially Millennials and Gen Z, seek authenticity, wellness and sustainability over luxury.  This generational shift has birthed a new “experiential economy” where locally sourced food, craft breweries, volunteer tourism and eco-certified lodges win out over cookie-cutter experiences.  Hotels are adapting with wellness offerings like Hilton’s Five Feet to Fitness rooms and menus featuring regional cuisine.  Social-media-ready aesthetics, immersive excursions, and cause-based itineraries (such as tree planting or teaching abroad) are becoming standard in high-end travel.

4. Sharing Economy Challenges Traditional Lodging

Airbnb now lists 7.7 million active properties across over 100,000 cities.  This massive supply has changed how people think about lodging, blurring the lines between commercial hospitality and residential rental.  To compete, hotel chains are launching branded home-rental services (e.g., Marriott’s Homes & Villas) and embracing micro-rooms, extended-stay suites, and hostel-inspired “poshtels” to appeal to younger, value-conscious travelers.  Hotels are also adopting hybrid models where apartments or condos near hotel properties are integrated into reservation systems and offer access to full-service hotel amenities.

5. Online Travel Agencies vs. Hotel Brands: The Loyalty Battle

Online travel agencies (OTAs) such as Expedia and Booking.com dominate the online booking space, charging hotels commissions up to 25%.  In response, hotel chains are fighting back by offering exclusive perks like mobile check-in, digital room keys, loyalty points, and room selection features only to direct-booking guests.  Mobile-first marketing, app-based personalization and social media promotions are essential tools in this war for customer loyalty.

6. The Cruise Industry’s Dual Expansion

Cruising is growing at both extremes: mega-ships and micro-expeditions.  Royal Caribbean’s Icon of the Seas can carry over 7,000 guests and includes theme park-like amenities, while luxury cruise lines such as Seabourn and Uniworld are investing in smaller vessels with 100–500 passengers focused on intimacy and adventure.  The river cruise segment is especially strong, offering boutique experiences and higher fares per guest with significantly lower capital investment.  Companies like Viking and AmaWaterways are thriving in this niche.

7. Booming Food Truck and Craft Brewery Movements

Urban areas continue to embrace food trucks and craft breweries as symbols of local flavor and innovation.  Food trucks, often operated by women, immigrants or minority entrepreneurs, are affordable to start and flexible to operate.  Cities like Denver and Philadelphia offer some of the best regulatory environments for mobile kitchens.  Craft beer, with nearly 10,000 breweries across the U.S., offers opportunities for restaurants and brewpubs to differentiate through unique food and beverage pairings.

8. Eco-Tourism, Pet-Friendly Perks and Personalized Experiences

Sustainability is now a core value proposition.  Green-certified hotels and cruise ships with biofuel initiatives, advanced wastewater systems and local sourcing practices are becoming mainstream.  Certification programs like Green Globe and EarthCheck lend credibility to these claims.  At the same time, hotels are tapping into lifestyle trends such as pet ownership.  Dog-friendly rooms, on-site pet menus and perks like massage services for dogs are now surprisingly common, particularly among Millennials and Boomers who prefer traveling with pets.

The future of the hospitality industry is being defined by converging pressures: rising wages, changing consumer values and rapid tech adoption.  Automation and artificial intelligence will drive cost-efficiency and personalization.  Meanwhile, the real differentiators will be experience, sustainability, and emotional resonance.

Key Concepts:  Restaurant, business, cruises, economics, hotel, entrepreneurship, finance, future, globalization, fast food, food service, catering, innovation, investing, marketing, consumer goods, technology, hospitality, artificial intelligence (AI)

Source: Plunkett Research, Ltd., Copyright © 2025

Plunkett Research, Ltd., a Houston, Texas-based market research firm, has completed its latest research on the Restaurant, Hotel & Hospitality Industry.  (See: https://www.plunkettresearch.com/industries/restaurant-hotel-and-hospitality-market-research/).  This revised and updated data is part of our massive Plunkett Research Online subscription service, where we continuously monitor the world’s 40 most vital business sectors, including such industries as retailing, artificial intelligence, health care, sports/recreation and much, much more.  Our analysts and market research continually monitor the world’s leading industries and companies and post thorough updates yearly.

Key Findings:

A complete market research report, including forecasts and market estimates, technologies analysis and developments at innovative firms within the Restaurant, Hotel & Hospitality Industry.  Gain vital insights that can help shape strategy for business development, product development and investments.

Key Features:

• Business trends analysis
• In-depth industry overview
• Technology trends analysis
• Forecasts
• Spending, investment, and consumption discussions
• In-depth industry statistics and metrics
• Industry employment numbers
  
  

Additional Key Features Include:

Industry Glossary

Industry Contacts list, including Professional Societies and Industry Associations

Profiles of industry-leading companies

• U.S. and Global Firms
• Publicly held, Private and Subsidiaries
• Executive Contacts
• Revenues
• For Public Companies: Detailed Financial Summaries
• Statistical Tables
  
  

Key Questions Answered Include:

• How is the industry evolving?
• How is the industry being shaped by new technologies?
• How is demand growing in emerging markets and mature economies?
• What is the size of the market now and in the future?
• What are the financial results of the leading companies?
• What are the names and titles of top executives?
• What are the top companies and what are their revenues?
  
  

This feature-rich report covers competitive intelligence, market research and business analysis—everything you need to know about the Restaurant, Hotel & Hospitality Industry.

Plunkett Research Provides Unique Analysis of the Following Major Trends Affecting the Restaurant, Hotel & Hospitality Industry

1. Major Trends Affecting the Restaurant, Hotel & Hospitality Industry
2. Introduction to the Restaurant, Hotel & Hospitality Industry
3. McDonald’s and Other Fast-Food Companies Reposition to Adapt to New Consumer Tastes, Robotics and AI
4. Wages Rise for Restaurant, Hotel and Hospitality Workers
5. Food Trucks Enjoy a Boom
6. Craft/Microbreweries Proliferate
7. Grubhub, DoorDash and Others Deliver Restaurant Meals
8. Virtual Restaurants with No Seats (Ghost Kitchens) Serve the Home Delivery Market
9. Obesity Sparks Government, School and Corporate Initiatives/Snack Foods Get Healthier
10. Retail Technologies Advance for Restaurant Online Ordering, along with Robotics and Automation
11. Cruise Industry Enjoys High Occupancy and Launches New Ships
12. Small Cruise Ships Feature Adventure, Luxury, Intimacy or Access to More Places
13. River Cruise Lines Reap the Benefits of Low Capital Investment and High Fares
14. Chinese Tourists Create Growth Opportunities for the Cruise and Hotel Industries
15. Ecotourism, Sustainable Tourism, Adventure Tourism and Volunteerism Grow as Certification Standards Are Set
16. Luxury Hotel Chains Expand Globally
17. What Millennials and Mobile-Savvy Consumers Want as Tourists and Travelers
18. Hotels Target Young Customers with Strategies Ranging from Micro Rooms and Hostels, to Hip Hotels that Encourage Mingling to Fitness Options
19. Sharing Economy Gains Market Share in Travel with Online Sites Like Airbnb, Vrbo and Many Global Competitors
20. Online Travel Agencies (OTAs)/Hotels Fight to Keep Control of the Customer
21. Localization Drives Hotel Features, Marketing
22. Dog-Friendly Hotels Gain Market Share
23. The Future of the Restaurant, Hotel & Hospitality Industry

Plunkett Research Provides In-Depth Tables for the Following Restaurant, Hotel & Hospitality Industry Statistics

1. Restaurant, Hotel & Hospitality Industry Statistics and Market Size Overview
2. Estimated U.S. Restaurant & Food Service Industry Revenues by NAICS Code: 2017-2024
3. Estimated U.S. Hotel & Accommodations Sector Quarterly Revenues: 2021-4th Quarter 2024
4. Consumer Food Price Indexes, Food Away from Home & Food at Home, U.S.: 1997-2023
5. Restaurant, Hotel and Hospitality Industry Employment by Business Type, U.S.: 2020-2025
6. Restaurant & Food Service Employment and Wage Estimates by Occupation, U.S.: May 2024

6.24.25

The apparel, shoes, and textiles industry is navigating one of the most dynamic periods in its history. With global retail clothing and footwear sales projected to top $2.4 trillion in 2024, the sector is both a cornerstone of consumer markets and a hotbed of transformation. As manufacturers, designers, and retailers contend with changing consumer values, technological disruption, and geopolitical pressures, several defining trends are shaping the future of fashion and footwear.

Even more information on this industry is available!  Check out our Apparel Industry Center!

Plunkett’s Apparel, Shoes & Textiles Industry eBook, latest edition.

1. Shifting Global Manufacturing Landscape

For decades, China dominated global apparel and footwear manufacturing thanks to low labor costs and vast production capacity. However, this supremacy is waning. Rising wages and a shrinking workforce in China are pushing manufacturers to seek lower-cost alternatives. Countries like Vietnam, Bangladesh, India, and Indonesia are becoming attractive manufacturing hubs, offering cost efficiency, improving infrastructure, and growing technical capabilities.

Vietnam, in particular, is a standout. In 2024, the U.S. imported $16.1 billion in apparel from Vietnam, up from $14.4 billion the year before. This migration is creating new economic opportunities in these emerging markets while diversifying supply chains, a critical lesson learned during the COVID-19 pandemic.

At the same time, there is a modest yet notable trend toward reshoring or nearshoring. Automation and digital manufacturing technologies have enabled some apparel production to return to the U.S., Mexico, and Central America. While not labor-intensive, these high-tech operations offer faster turnaround times and greater flexibility, allowing brands to respond more swiftly to market trends.

2. Sustainability Takes Center Stage

Sustainability is no longer a niche concern, it is now a central pillar of brand identity and consumer expectation. Millennials and Gen Z consumers, in particular, are demanding transparency and eco-consciousness from their favorite labels.

This has catalyzed a shift toward environmentally friendly materials such as organic cotton, bamboo, and recycled polyester. Brands are also developing closed-loop systems in which clothing is designed with recyclability in mind. Adidas, for example, is investing heavily in single-material apparel that can be fully recycled. Similarly, Levi Strauss is reducing water usage in denim production through its “Water<Less” initiative.

Furthermore, the circular fashion economy is gaining traction. Companies like Rent the Runway are leading the charge in clothing rental, while platforms like The RealReal and Poshmark promote resale and upcycling. Mainstream retailers such as H&M, Patagonia, and Uniqlo are even offering in-store recycling bins and repair services.

The footwear sector is seeing parallel changes. Nike and Allbirds have launched shoes made from sustainable or recycled materials, while others explore biodegradable and vegan alternatives. Sustainable production is no longer an add-on—it is becoming a baseline.

3. Technological Integration and Smart Fashion

Technology is revolutionizing every aspect of the apparel and shoe industries. In manufacturing, automation, robotics, and 3D knitting machines allow for precision and speed. 3D printing and digital prototyping reduce waste and accelerate product development cycles, enabling quicker time-to-market.

Wearable technology is an emerging frontier. From biometric fitness tracking embedded in apparel to smart shoes with GPS and pressure sensors, fashion is merging with functionality. Under Armour, Adidas, and other activewear giants are building ecosystems around tech-enhanced products. While still a small market, wearable fashion is poised for strong growth, especially in sports, wellness, and healthcare.

Consumer-facing technologies are also transforming the shopping experience. Virtual try-ons, powered by augmented reality (AR), are reducing returns and improving satisfaction. AI and machine learning algorithms now help brands personalize recommendations, optimize inventory, and predict trends with stunning accuracy.

4. E-Commerce and Direct-to-Consumer (DTC) Disruption

The rapid growth of e-commerce continues to reshape the retail landscape. Amazon has become a major apparel and footwear retailer, leveraging its data capabilities and fast shipping to capture a growing share of the market. At the same time, digitally native vertical brands (DNVBs) such as Everlane, Warby Parker, and Allbirds are disrupting traditional retail by bypassing middlemen and selling directly to consumers online.

These DTC brands offer transparency, ethical sourcing, and community-building as core values, resonating strongly with younger demographics. Many are also innovating with “drop” models and limited releases to drive urgency and loyalty.

Even traditional brick-and-mortar retailers are adopting hybrid approaches. BOPIS (Buy Online, Pick Up In Store), curbside delivery, and livestreamed shopping events are becoming the norm. Store associates are being re-trained as digital stylists, offering video consultations to replicate in-store experiences online.

5. Personalization and Inclusivity

Today’s consumers expect products that reflect their identity, values, and body types. This has led to the rapid rise of size inclusivity, gender-neutral fashion, and culturally diverse design. Major retailers are expanding their size ranges and showcasing more diverse models in advertising campaigns.

The plus-size market is especially noteworthy. It’s estimated to be worth over $30 billion in the U.S. alone, and it continues to grow. Brands like Torrid, Eloquii, and Good American are catering to this demand with style-forward options.

Customization is another growing trend. Nike’s “By You” platform and Adidas’ customization tools allow shoppers to design their own apparel and sneakers. As AI and manufacturing technology improve, mass customization may become more accessible across brands.

6. Fast Fashion Under Fire

Fast fashion, epitomized by brands like Zara, Shein, and H&M, continues to thrive in terms of sales volume, but faces increasing scrutiny for its environmental and social impact. While the affordability and rapid trend turnover appeal to budget-conscious consumers, concerns about waste, pollution, and labor exploitation are intensifying.

Regulatory efforts in Europe and parts of the U.S. are attempting to enforce more sustainable practices, while activists push for better labor rights and lower carbon footprints. As awareness grows, even fast fashion giants are investing in eco-conscious initiatives, though critics argue that true sustainability is incompatible with the fast fashion business model.

7. Athleisure and Lifestyle Integration

The COVID-19 pandemic accelerated the shift toward casual, comfortable clothing. Athleisure, apparel designed for both athletic and everyday wear, has become a dominant category, blurring the lines between gym gear and streetwear.

Brands like Lululemon, Alo Yoga, and Vuori have become household names, while luxury brands such as Gucci and Balenciaga are launching high-end versions of sneakers, joggers, and hoodies. The continued hybridization of work-from-home and in-office life suggests this trend will remain a powerful force.

Footwear is following suit, with sneakers outselling dress shoes in many markets. “Sneaker culture” has evolved into a collector’s ecosystem, driving demand for limited releases and collaborations.

The apparel, shoes, and textiles industry is at a pivotal moment. It must reconcile rapid innovation with pressing environmental and social challenges, all while catering to increasingly sophisticated and digitally fluent consumers. Brands that succeed will be those that embrace sustainability, harness technology, and put customers at the center of their strategies.

Key Concepts:  Stores, business, fashion, design, fabrics, entrepreneurship, finance, jobs, offshore, branding, smart fabrics, investing, marketing, retail, online, fast fashion

Source: Plunkett Research, Ltd., Copyright © 2025