Artificial Intelligence (AI) in Fashion Market Size Latest Report 2021 Segment by Manufacturers, Type, Applications and Dynamics with COVID-19 Impact Analysis

Global 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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In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years. According to the statistics by GSMA Intelligence, total cellular connections worldwide as of May 2020 was recorded to 10,18 billion.

As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.

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)

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

By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026

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Target Audience of the Global AI in Fashion Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investor

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2017-2026 (USD Billion)
1.2.1. AI in Fashion Market, by Region, 2017-2026 (USD Billion)
1.2.2. AI in Fashion Market, by Component, 2017-2026 (USD Billion)
1.2.3. AI in Fashion Market, by Application, 2017-2026 (USD Billion)
1.2.4. AI in Fashion Market, by Deployment Mode, 2017-2026 (USD Billion)
1.2.5. AI in Fashion Market, by Category, 2017-2026 (USD Billion)
1.2.6. AI in Fashion Market, by End-user, 2017-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global AI in Fashion Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global AI in Fashion Market Dynamics
3.1. AI in Fashion Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global AI in Fashion Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants

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