Global AI in Fashion Market Overview:
Fashion is a growing industry with economic and social implications worldwide. With the advent of modern cognitive computing technologies such as machine learning, deep learning, virtual reality, and natural language processing for analyzing huge amounts of fashion data, the impact of AI in the fashion industry is transforming. Additionally, fashion brands are using machine learning and AI for maximizing customer shopping experience and enhancing the efficiency of sales systems through intelligent process automation using predictive analytics and well-organized sales processes. Moreover, growth in the fast fashion retail industry expected to fuel the growth of AI in the fashion market during the forecasted period. Some of the key players profiled in the study are Microsoft (United States), IBM (United States), Google (United States), AWS (United States), SAP (Germany), Facebook (United States), Adobe (United States), Oracle (United States), Catchoom (Spain), Huawei (China), Vue.ai (United States), Heuritech (France), Wide Eyes (Spain), FINDMINE (United States), Intelistyle (England) and Lily AI (United States). According to Market Analyst at AMA, the Global AI in Fashion market may see a growth rate of 38.19%
On the basis of geography, the market of AI in Fashion has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment Mode, the sub-segment i.e. Cloud will boost the AI in Fashion market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Category, the sub-segment i.e. Apparel will boost the AI in Fashion market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Fashion Designers will boost the AI in Fashion market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Solution [Software Tools, Platforms] will boost the AI in Fashion market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Customer Demand for Personalized Fashion Experience
- Growing Need for Automated Inventory Management in Fashion Industry
- Increasing Influence of Social Media on the Fashion Industry
- Growing Fast Fashion Retail Industry
- Difficult Integration with Legacy Systems
- Emergence of Technologies Such As Machine Learning, Deep Learning, Natural Language Processing, and Virtual Reality in Fashion Industry
- Growing Demand from the Developing Economies
- Lack of Awareness among End Users
Major Market Developments:
15th October 2019, Amazon Fashion launched a new AI-powered StyleSnap feature integrated with matching learning technology to find style and clothing by analyzing a photo to its application. This tool is currently available in Germany and the United Kingdom for bottoms, tops, dresses, bags, and shoes in menswear and womenswear categories.
AI in Fashion Providers, Technology Providers, Potential Investors, Government and Research Organizations, Trade Associations and Industry Bodies and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global AI in Fashion market on the basis of product  , application [Product Recommendation, Product Search and Discovery, Supply Chain Management and Demand Forecasting, Creative Designing and Trend Forecasting, Customer Relationship Management, Virtual Assistants and Others [Fraud Detection, Fabric Waste Reduction, and Price Optimization]], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the AI in Fashion market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the AI in Fashion industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Pttrns.ai (Netherlands), Syte (Israel), Mode.ai (United States) and Stitch Fix (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the AI in Fashion market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.