AI In Fashion Market was valued at USD 319 Million in 2018 and is expected to register a CAGR of 40% during the forecast period.

Introduction of AI in Fashion Market Research Report

Artificial Intelligence has been at the forefront in disruption of every industry as it has been the cause of dramatically shift in the way business is done. The advancement in artificial intelligence (computer system which has the ability to learn for itself and perform those tasks which were once the preserve of humans) has been partly enabled by the enhanced processing power and innovation in the development of algorithms. The potential of artificial intelligence for fashion retailers, which can implement digital innovation with creativity, has a powerful competitive edge.

Artificial Intelligence has diverse capabilities to drive enhancements in certain areas, including capacity planning, forecasting, and merchandising, along with delivery & production automation, which drives the fashion sectors further propelling the growth of AI in fashion market. Rising effects of social media in the industry of fashion is leading to an increase in the adoption of AI in fashion industry. In addition, fashion brands are using AI for maximizing the users shopping experience and enhance the sales systems efficiency by the use of intelligent automation is propelling the growth of global AI in fashion market during the forecast period. Moreover, inventory management being a huge pain point for apparel brands, the AI-powered tools help solve the pain point of industry and help retailers to save money on customer service staff while building customer loyalty leading to increased adoption of artificial intelligence in the fashion industry bolstering the growth of market around the world. Artificial intelligence encourages creativity as it opens out a hugely innovative idea, and its computing power improves the speed, which will be an advantage for fashion supply chain. The high cost of creating artificial intelligence is a factor hampering the growth of global AI in fashion market.

North America is expected to increase at the highest compound annual growth rate during the forecast period owing to a large presence of key manufacturers, high adoption of technologically advanced tools, and rising adoption of social media in this region.

Various notable players operating in the global AI in Fashion market include Microsoft Corporation, IBM Corporation, Google, AWS, SAP, Facebook, Adobe, Oracle, Catchoom, Huawei, Vue.AI, Heuritech, Wide Eyes and Findmine among others.

The global AI in Fashion market has been segmented on the basis of component, deployment mode, application, category, end user, and key geographies. The component segment market is segmented into Services and Solutions. Based on deployment mode, the market is segmented into On-Premises and Cloud. The application segment market is categorized into Product Search & Discovery, Creative Designing & Trend Forecasting, Product Recommendation, Supply Chain Management & Demand Planning, Virtual Assistant, Customer Relationship Management, and Others. The category segment market is categorized into Beauty & Cosmetics, Apparel, Jewellery & Watches, Footwear, Accessories and Others. The end user, the market is segmented into Fashion Stores and Fashion Designers.

Key questions answered in this research report:

• At what pace is global AI in fashion market growing? What will be the growth trend in the future?
• What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
• What is the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global AI in fashion market?
• What are the various application areas and how they are poised to grow?

Market Segmentation

By Component

• Services
• Solutions

By Deployment Mode

• On-Premises
• Cloud

By Application

• Product Search & Discovery
• Creative Designing & Trend Forecasting
• Product Recommendation
• Supply Chain Management & Demand Planning
• Virtual Assistant
• Customer Relationship Management
• Others

By Category

• Beauty Cosmetics
• Apparel
• Jewelry & Watches
• Footwear
• Accessories
• Others

By End User

• Fashion Stores
• Fashion Designers

By Geography

• North America (As a part of the customization)

o By Component
o By Deployment Mode
o By Application
o By Category
o By End User
o US
o Canada
o Mexico

• Europe(As a part of the customization)

o By Component
o By Deployment Mode
o By Application
o By Category
o By End User
o UK
o Germany
o Spain
o Rest of Europe

• Asia-Pacific(As a part of the customization)

o By Component
o By Deployment Mode
o By Application
o By Category
o By End User
o China
o Australia
o India
o Rest of APAC

• ROW(As a part of the customization)

o By Component
o By Deployment Mode
o By Application
o By Category
o By End User
o Brazil
o South Africa
o GCC countries
o Rest of world (remaining countries of the LAMEA region)

Leading market players

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