AI in Fashion Market is valued approximately USD 161.9 million in 2018 and is anticipated to grow with a healthy growth rate of more than 40.8% over the forecast period 2019-2026. The Fashion industry has adopted the latest AI technology which enhances the customer experience and increases the sales in the industry by increasing customization by suggesting similar clothing patterns according to customer needs. Also, the use of AI has brought in Automatic operations in the mundane tasks like data entry, calculations and more. Further, customer’s demand for a personalized experience, increasing need for inventory management and the growing influence of social media in the fashion industry has led to the adoption of AI in Fashion across the forecast period. Also, Identifying future fashion trends in advance with customer’s buying behavior analysis and Growing fast fashion retail has boosted the adoption of artificial intelligence in the fashion industry.
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The regional analysis of global AI in Fashion market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing social media adoption, the expansion of local enterprises and the government initiatives that are focused on advancements in the AI technology. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as increasing population along with increasing disposable income has led to major investment of Tech giants would create lucrative growth prospects for the AI in Fashion market across Asia-Pacific region.
Major market player included in this report are:
Microsoft (US)
IBM (US)
Google (US)
AWS (US)
SAP (Germany)
Facebook (US)
Adobe (US)
Oracle (US)
Catchoom (Spain)
Huawei (China)
Vue.ai (US)
Heuritech (France)
Wide Eyes (Spain)
FINDMINE (US)
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Components:
Solution
Software Tools
Platforms
Services
Training and Consulting
System Integration and Testing
Support and Maintenance
By Applications:
Product Recommendation
Product Search and Discovery
Supply Chain Management and Demand Forecasting
Creative Designing and Trend Forecasting
Customer Relationship Management
Virtual Assistants
Others (Fraud detection, fabric waste reduction, and price optimization)
By Deployment Mode:
Cloud
On-premises
By Category:
Apparel
Accessories
Footwear
Beauty and Cosmetics
Jewelry and Watches
Others (eyewear, home decor)
By End-User:
Fashion Designers
Fashion Stores
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Market research objective you provided focuses on conducting a comprehensive analysis of a specific market. Here is a breakdown of the research objectives you mentioned:
To analyze and forecast the market size of the market:
- This objective involves assessing the current market size and using historical data and market trends to forecast its future size.
- This analysis helps in understanding the market’s growth potential and opportunities.
To classify and forecast the global market based on product, material, application, and region:
- This objective aims to categorize the market based on different factors such as product types, materials used, applications, and geographical regions.
- It also involves forecasting the market size and growth for each category, providing a detailed understanding of market segmentation.
To identify drivers and challenges for the global market:
- This objective focuses on identifying the factors that drive market growth and those that pose challenges or constraints.
- Understanding the drivers helps in recognizing opportunities, while understanding the challenges allows for mitigation strategies and informed decision-making.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations, and partnerships in the market:
- This objective involves analyzing the competitive landscape of the market. It includes studying activities such as mergers and acquisitions, agreements, collaborations, and partnerships among market players.
- This analysis provides insights into the market’s competitive dynamics and strategic moves by key players.
To conduct pricing analysis for the market:
- This objective aims to analyze pricing strategies within the market. It involves assessing pricing trends, price variations based on different factors, and understanding price sensitivity among customers.
- This analysis helps in formulating effective pricing strategies for market players.
To identify and analyze the profile of leading players operating in the market:
- This objective involves profiling and analyzing the key players in the market. It includes studying their business strategies, financial performance, product portfolios, market share, and competitive advantages.
- This analysis helps in understanding the competitive landscape and benchmarking against industry leaders.
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