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Global AI in Fashion Market : Industry Analysis and Forecast (2020-2027)

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Global AI in Fashion Market : Industry Analysis and Forecast (2020-2027)

Global AI in Fashion Market accounted for US$ XX Mn. in 2019 and is expected to grow at a CAGR of 41.7% over the forecast period, to account for nearby US$ 2,160 Mn.

Role of AI (Artificial Intelligence) and its Impact on the Fashion Industry:
AI in fashion is changing the fashion industry by playing a vital role in the many key divisions. From design to manufacturing, marketing, and logistic supply chain, AI in fashion is playing a big role in transforming this industry. Artificial Intelligence-enabled applications and systems are enhancing the consumer’s experience that goes beyond personalized ads, notification alerts on chatbot assistance or cost drops.

Market Trends of AI in the Fashion industry:

The report covers all the trends and technologies playing a major role in the growth of the AI in the fashion market during 2020-2027. The patterns and designs with a suitable color combination are the key point to design a costume to make it attractive among the clients. AI can detect the new trends with demand in projecting the new trend reducing the estimating error.

Trends in the fashion industry change rapidly with new patterns or designs come every day in the market. Designers must keep pacing with new styles. And AI algorithms can study designs through images to copying popular styles.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Market Dynamics:

The MMR report contains a detailed list of factors that will drive and restrain the growth of the AI in fashion market. The fashion industry has implemented the newest AI (Artificial Intelligence) technology which enhances the consumer experience and upsurges the sales in the industry by growing customization by signifying related clothing patterns according to client needs.

Similarly, the use of AI has transported in automatic operations in ordinary tasks such as calculations, data entry, and many more. Also, clients demand a personalized experience, a growing need for inventory management and the rising influence of social media in the fashion industry has led to the adoption of AI in Fashion during the forecast period.

However, data security and privacy concerns through the sector would pose a stern challenge to the growth of the global market for AI in fashion during the forecast period. Despite these restrictions, the introduction of NPL (Natural Language Programming) to the fashion industry is a huge opportunity for Artificial Intelligence in fashion vendors are anticipated to provide ample growth opportunities for the companies operating in the AI in fashion market during the forecast period.

Manufacturing process:

Fashion brands using AI (Artificial Intelligence) and ML (Machine Learning) tools are now able to find fast-changing fashion trends and supply the latest fashion accessories to retail defers faster than the “traditional” fashion retailer. Consequently, prominent fashion brands such as Top Shop, Zara, and H&M are faster in providing instant satisfaction to retail customers by recognizing seasonal demands and developed the right supply of modern clothing.

Market segmentation:

The report provides an in-depth segment analysis of the Global AI in Fashion Market, thereby providing valuable insights at the macro as well as micro levels. Based on end-users, fashion stores segment held the largest market share of XX% in 2019 and is projected to grow at the highest CAGR of XX% to reach US$ XX Mn by 2027. Fashion stores contain offline fashion stores and online fashion stores that have started deploying Artificial Intelligence technologies into their operations. Growing deployment of cloud-based AI-powered solution by fashion retailers has aided brands to gain a competitive benefit over other players.

AI helping to promote and sell fashion goods:

The fashion industry is just as much about making demand and brand awareness as it is about the manufacturing of fashion products. Clothing and apparel brands are always looking for new ways to get their goods in front of buyers and generate awareness and demand in the market. Progressively, fashion brands are using AI and ML to exploit users’ shopping experience, improve the efficiency of sales systems through intelligent automation, and boost the sales processes using predictive analytics and conducted sales processes.

Regional Analysis:

North America AI in fashion market was valued at US$ XX million in 2019 and is expected to reach a value of US$ XX million by 2027, with a CAGR of XX% during the forecast period. The North American economies are developing many policies and outlining best practices to implement AI for helping innovation in various industry sectors.

AI technologies like self-adapting machine learning, deep learning or Natural language processing(NLA) are expected to transform the way businesses work. Governments of several North American economies are working on drafting a robust and comprehensive set of regulations and policies for the holistic development of AI in this region. Besides, the inclination of the Asia Pacific economies toward emerging technologies like 3G and 4G is also expected to drive the growth of the AI in the fashion market. However, privacy issues, the lack of technological awareness, and limited technical expertise in advanced technologies remain major hurdles in the AI in fashion adoption across the APAC.

The objective of the report is to present a comprehensive analysis of the Global AI in Fashion Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global AI in Fashion Market dynamics, structure by analyzing the market segments and project the Global AI in Fashion Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global AI in Fashion Market make the report investor’s guide.
Scope of the Global AI in Fashion Market

Global AI in Fashion Market, by Components

• Solution
Software Tools
Platforms
• Services
Training and Consulting
System Integration and Testing
Support and Maintenance
Global AI in Fashion Market, 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)
Global AI in Fashion Market, by Deployment Mode

• Cloud
• On-premises
Global AI in Fashion Market, by Category

• Apparel
• Accessories
• Footwear
• Beauty and Cosmetics
• Jewelry and Watches
• Others (eyewear, home decor)
Global AI in Fashion Market, by End-User

• Fashion Designers
• Fashion Stores
Global AI in Fashion Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global AI in Fashion Market

• Microsoft
• IBM
• Google
• AWS
• SAP
• Facebook
• Adobe
• Oracle
• Catchoom
• Huawei
• Vue.AI
• Heuritech
• Wide Eyes
• Findmine
• Intelistyle
• Lily AI
• Pttrns.AI
• Syte
• Mode.AI
• Stitch Fix
• Alibaba.
• Amazon.
• H&M.
• Tommy Hilfiger.
• ASOS.

Global AI in Fashion Market Request For View Sample Report Page :@
About Us:

Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.

Contact info:
Name: Vikas Godage
Organization: MAXIMIZE MARKET RESEARCH PVT. LTD.
Email: [email protected]
Contact: +919607065656 / +919607195908
Website:www.maximizemarketresearch.com

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