AI in Fashion Market Research Report

Arif

Sep 4, 2021

Global AI In Fashion Market by Component and by Geography, 2019-2026

 

The GMI Research predicts an augmentation in demand for AI In Fashion Market over the forecast period. This is mainly because of the aggravating impact of social media in the fashion industry, rising demand for a customized experience, and soaring fast fashion retail, and enlargement of various local enterprises.

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Introduction of the AI In Fashion Market

The AI in Fashion market statistics states that Artificial Intelligence is at the front line in the disorderliness of every industry because of the extensive switch in the way business is done. The modernization in artificial intelligence is partly allowed by the sophisticated processing power and innovation in the establishment of algorithms. In short, the capability of artificial intelligence for fashion retailers to execute digital innovation with creativity offers a competitive advantage.

Key Players of Market:

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

AI In Fashion Market Dynamics

The augmenting influence of social media on the fashion industry has stimulated organizations to adopt artificial intelligence, thereby contributing to the growth of global AI in Fashion Market. In addition, the assorted potential of AI to direct in several areas such as designing, projecting, and selling as well as the production and delivery of automation, further add to the market growth. Also, various fashion brands are increasingly deploying AI to optimize the shopping experience of users and improve the sale system, which further supplements the market demand.  Furthermore, as per the AI in Fashion market by solutions, artificial intelligence persuades activity owing to its capability to unfold a massively innovative idea and improves the speed by its computing power which will prove to be an advantage for the fashion supply chain. Besides this, the AI-powered tools assist in solving the pain point concerned with the inventory management of the industry and help retailers to conserve money on customer service staff at the time of raising customer loyalty which is energizing the market growth. On the other hand, the inflated cost of engendering artificial intelligence is hindering the market share.

Component Segment Drivers

The global AI in Fashion market by component is divided into solutions and services. Amongst which, the solution is projected to expand at a higher rate over the forecast period. Fashion retailers are progressively acquiring sophisticated technologies to simplify their business processes and attracting new customers. Moreover, recognizing contemporary trends through different social media platforms and serve the customer's daily needs has become a major challenge for organizations. Thus, fashion retailers and brands are increasingly implementing AI-based solutions, including platform and software tools like APIs, SDKs, and ML models.

Regional Drivers

As per the geographical coverage, North America is contemplated to witness a faster rate due to the prevalence of leading producers, the massive acquisition of technologically developed tools, and the increasing influence of social media.

AI In Fashion Market Segmentation:

Segmentation by Component
  • Services
  • Solutions
Segmentation by Deployment Mode
  • On-Premises
  • Cloud
Segmentation by Application
  • Product Search & Discovery
  • Creative Designing & Trend Forecasting
  • Product Recommendation
  • Supply Chain Management & Demand Planning
  • Virtual Assistant
  • Customer Relationship Management

Others

Segmentation by Category
  • Beauty Cosmetics
  • Apparel
  • Jewelry & Watches
  • Footwear
  • Accessories
  • Others
Segmentation by End User
  • Fashion Stores
  • Fashion Designers
Segmentation by Region:
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • North America
    • United States of America
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • RoW
    • UAE
    • Brazil
    • South Africa
    • Saudi Arabia

About GMI Research

The organisation is a consulting and market research company with a team of seasoned and expert analysts offering fact-based research to energy, healthcare, FMCG, and healthcare sectors. The research team provides insights and market research reports to help clients comprehend the effect of market dynamics like drivers, size, growth opportunities, share, etc. The information about the industry is accumulated using external and internal databases. Our main emphasis is to impart a step-by-step guidance to our clients through consulting services to assist them making an actionable decision.

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GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects.