Global AI in Fashion Market – From FMI’s Viewpoint
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The AI in Fashion market study outlines the key regions – Region 1 (Country 1, Country 2), region 2 (Country 1, Country 2), region 3 (Country 1, Country 2) and region 4 (Country 1, Country 2). All the consumption trends and adoption patterns of the AI in Fashion are covered in the report. Prominent players, including player 1, player 2, player 3 and player 4, among others, account for substantial shares in the global AI in Fashion market.
TMRR, in its latest business report elaborates the current situation of the global AI in Fashion market in terms of volume (x units), value (Mn/Bn USD), production, and consumption. The report scrutinizes the market into various segments, end uses, regions and players on the basis of demand pattern, and future prospect.
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After reading the AI in Fashion market report, readers can
- Get hints about various agreements, product launches, acquisitions, and R&D projects of different AI in Fashion market players.
- Outline prominent regions holding significant share in the global AI in Fashion market along with the key countries.
- Investigate a comparative study between leading and emerging AI in Fashion market vendors.
- Comprehensive evaluation on the changing pattern of consumers across various regions.
- Important trends affecting the adoption pattern of AI in Fashion in various industries.
In this AI in Fashion market study, the following years are considered to project the market footprint:
- History Year: 2014 – 2018
- Base Year: 2018
- Estimated Year: 2019
- Forecast Year: 2019 – 2029
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On the basis of product type, the global AI in Fashion market report covers the key segments, such as
Some of the recent notable developments in the global AI in fashion market are listed below:
- Google has rolled out a new update for its highly popular Google Lens app. The app has the ability to provide users with similar product suggestions for clothing and other fashion related stuff. The app also provides a style idea feature that allows user to click picture of a clothing item and the results will show how others have bought or worn similar clothing items.
- Catchroom recently helped Privalia, a fashion ecommerce platform for scaling up their business. Cathcroom provided Privalia with AI-driven visual recognition technology that was able to automatically extract information about the product from their images. The technology also offers an interface to edit or add more attributes of products.
AI in Fashion Market: Drivers and Restraints
A number of factors are responsible for driving the growth of the global AI in fashion market. One of the biggest driving factors for the market growth has been the growing consumer demand to have superior personalized experience. With the help of AI technology, brands and distributors can provide the required customization according to the data insights. Such customization helps in building up the brand value and also creating a strong sense of loyalty among users. Naturally, the growth of the AI in fashion market is surging with this developing trend.
On the other hand, there has also been an increasing demand for inventory management. AI helps in the automation of such tasks. Thus, the market is flourishing with this increasing demand. There are other important driving factors such as increasing influence of social media in the fashion industry across the globe, increasing demand for AI technology to identify upcoming fashion trends and study the consumer behavioral patterns, and increasing adoption of artificial intelligence across major blocks of the overall value chain. Such factors are thus helping to push the development of the global AI in fashion market to newer levels.
AI in Fashion Market: Geographical Outlook
In terms of geographical segmentation, the global AI in fashion market is divided into five major regional segments. These regions are Asia Pacific, North America, Latin America, Middle East and Africa, and Europe. Currently, the biggest regional segment of the global AI in fashion market is of North America. The region is expected to continue its dominance over the course of the given forecast period of 2018 to 2028. Such dominance of the market is primarily due to the presence of several industry leaders in the region and the early availability and access to latest AI technology.
On the other hand, the region of Asia Pacific is expected show a great promise during this given forecast period. The region is home to two of the fastest developing economies in China and India. These countries possess a huge human resource with decent paying capacity. Naturally, the overall region is expected to offer huge business opportunities for the leading players in the market. Rise of ecommerce brands and retail channels too is helping to push the growth of the AI in fashion market in Asia Pacific region.
Global AI in Fashion Market is segmented as below:
- Software Tools
- Training and Consulting
- System Integration and Testing
- Support and Maintenance
- 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)
- Beauty and Cosmetics
- Jewelry and Watches
- Others (eyewear, home decor)
- Fashion Designers
- Fashion Stores
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The AI in Fashion market research addresses the following queries:
- Why end user remains the top consumer of AI in Fashion in region?
- Which segment does the consumers highly prefer?
- How will the global AI in Fashion market look like by the end of the forecast period?
- What product type are the AI in Fashion players using to get an edge over their rivals?
- What are the restraints affecting the growth of the global AI in Fashion market?
The market study depicts an extensive analysis of all the players running in the AI in Fashion market report based on distribution channels, local network, innovative launches, industrial penetration, production methods, and revenue generation. Further, the market strategies, and mergers & acquisitions associated with the players are enclosed in the AI in Fashion market report.