Artificial Intelligence (AI) in Fashion Market

AI In Fashion Market was valued at USD 319 Million in 2022 and is expected to register a CAGR of 40% during the forecast period.

Introduction of AI in Fashion Market Research Report

Artificial Intelligence has been at the forefront in disruption of every industry as it has been the cause of dramatically shift in the way business is done. The advancement in artificial intelligence (computer system which has the ability to learn for itself and perform those tasks which were once the preserve of humans) has been partly enabled by the enhanced processing power and innovation in the development of algorithms. The potential of artificial intelligence for fashion retailers, which can implement digital innovation with creativity, has a powerful competitive edge.

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Key AI in Fashion Market Drivers

Artificial Intelligence has diverse capabilities to drive enhancements in certain areas, including capacity planning, forecasting, and merchandising, along with delivery & production automation, which drives the fashion sectors further propelling the growth of AI in fashion market. Rising effects of social media in the industry of fashion is leading to an increase in the adoption of AI in fashion industry. In addition, fashion brands are using AI for maximizing the users shopping experience and enhance the sales systems efficiency by the use of intelligent automation is propelling the growth of global AI in fashion market during the forecast period. Moreover, inventory management being a huge pain point for apparel brands, the AI-powered tools help solve the pain point of industry and help retailers to save money on customer service staff while building customer loyalty leading to increased adoption of artificial intelligence in the fashion industry bolstering the growth of market around the world. Artificial intelligence encourages creativity as it opens out a hugely innovative idea, and its computing power improves the speed, which will be an advantage for fashion supply chain. The high cost of creating artificial intelligence is a factor hampering the growth of global AI in fashion market.

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Regional – Segment Analysis

North America is expected to increase at the highest compound annual growth rate during the forecast period owing to a large presence of key manufacturers, high adoption of technologically advanced tools, and rising adoption of social media in this region.

Top Market Players

Various notable players operating in the global AI in Fashion market include Microsoft Corporation, IBM Corporation, Google, AWS, SAP, Facebook, Adobe, Oracle, Catchoom, Huawei, Vue.AI, Heuritech, Wide Eyes and Findmine among others.

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Segments covered in the Report:

The global AI in Fashion market has been segmented on the basis of component, deployment mode, application, category, end user, and key geographies. The component segment market is segmented into Services and Solutions. Based on deployment mode, the market is segmented into On-Premises and Cloud. The application segment market is categorized into Product Search & Discovery, Creative Designing & Trend Forecasting, Product Recommendation, Supply Chain Management & Demand Planning, Virtual Assistant, Customer Relationship Management, and Others. The category segment market is categorized into Beauty & Cosmetics, Apparel, Jewellery & Watches, Footwear, Accessories and Others. The end user, the market is segmented into Fashion Stores and Fashion Designers.

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Market Segmentation

Global AI in Fashion Market by Component

• • Services
  • Solutions

Global AI in Fashion Market by Deployment Mode

• • On-Premises
  • Cloud

Global AI in Fashion Market by Application

• • Product Search & Discovery
  • Creative Designing & Trend Forecasting
  • Product Recommendation
  • Supply Chain Management & Demand Planning
  • Virtual Assistant
  • Customer Relationship Management
  • Others

Global AI in Fashion Market by Category

• • Beauty Cosmetics
  • Apparel
  • Jewelry & Watches
  • Footwear
  • Accessories
  • Others

Global AI in Fashion Market by End User

• • Fashion Stores
  • Fashion Designers

Global AI in Fashion Market by Region

• • North America Global AI in Fashion Market (Option 1: As a part of the free 25% customization)
    • By Component
    • By Deployment Mode
    • By Application
    • By Category
    • By End User
    • US Market All-Up
    • Canada Market All-Up
  • Europe Global AI in Fashion Market (Option 2: As a part of the free 25% customization)
    • By Component
    • By Deployment Mode
    • By Application
    • By Category
    • By End User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Global AI in Fashion Market (Option 3: As a part of the free 25% customization)
    • By Component
    • By Deployment Mode
    • By Application
    • By Category
    • By End User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Global AI in Fashion Market (Option 4: As a part of the free 25% customization)
    • By Component
    • By Deployment Mode
    • By Application
    • By Category
    • By End User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Leading market players

• • Microsoft Corporation
  • IBM Corporation
  • Google
  • AWS
  • SAP
  • Facebook
  • Adobe
  • Oracle
  • Catchoom
  • Huawei
  • AI
  • Heuritech
  • Wide Eyes
  • Findmine