AI in Fashion Global Market to Reach $2.66 Billion by 2026 at a CAGR of 42.1%

DUBLIN, Sept. 19, 2022 /PRNewswire/ -- The "AI in Fashion Global Market Report 2022" report has been added to  ResearchAndMarkets.com's offering.

The global AI in fashion market is expected to grow from $0.47 billion in 2021 to $0.65 billion in 2022 at a compound annual growth rate (CAGR) of 40.0%. The AI in fashion market is expected to grow to $2.66 billion in 2026 at a CAGR of 42.1%.

North America was the largest region in the AI in fashion market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in AI in fashion report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing influence of social media on the fashion industry is driving the growth of AI in fashion market. Social media is a primary source of information for the fashion industry as there are many opinions and information from all sources globally. Fashion today is mainly dependent on brand promotion and fashion influencers that use social media to communicate their views on fashion.

For instance, according to influencer marketing hub, a social media resource for influencers, the marketing influencer market grew from $ 9.7 billion in 2020 to $ 13.8 billion in 2021. The increasing popularity of short video formats on platforms like TikTok, Facebook, and YouTube, as well as the impact of the global pandemic on consumers, which catalyzed social media consumption, and the optimization of data collection, which marketers used for social media ads, are all contributing to this growth. Such growing influence of social media is driving the growth of the market.

Machine learning is shaping the AI in fashion market. Machine learning is a part of artificial intelligence which defines the capabilities of the machine to copy human behavior. A machine can understand visualize and perform an action that helps in providing better information and suggestions to customers according to their behavior. For instance, in April 2021, Tommy Hilfiger, a renowned designer fashion brand applied machine-learning tools for product images of 15,000, and 600,000 publicly available runway images, and almost 100,000 fabric patterns sites. The applied AI gave insights into trending colors, and patterns, silhouettes to Tommy Hilfiger's style.

In September 2021, Syte company, an Israel-based software development company acquired Slyce for an undisclosed amount. Through this acquisition, Syte wants to expand its market in North America and support new and old clients. Slyce, is a US-based visual search company that has integrated apps and website technology for more than 60 retailers.

Scope

Markets Covered:

1) By Category: Apparels; Accessories; Footwear; Beauty And Cosmetics; Jewelry
2) By Deployment Mode: Cloud; On-premise
3) By Components: Solution; Services
4) By Application: Customer Relationship Management; Virtual Assistants; Product Recommendation; Product Search And Discovery; Supply Chain Management And Demand Forecasting; Creative Designing And Trend Forecasting
5) By End Users: Fashion Designers; Fashion Stores

Key Topics Covered:

1. Executive Summary

2. AI in Fashion Market Characteristics

3. AI in Fashion Market Trends And Strategies

4. Impact Of COVID-19 On AI in Fashion

5. AI in Fashion Market Size And Growth

6. AI in Fashion Market Segmentation

7. AI in Fashion Market Regional And Country Analysis

8. Asia-Pacific AI in Fashion Market

9. China AI in Fashion Market

10. India AI in Fashion Market

11. Japan AI in Fashion Market

12. Australia AI in Fashion Market

13. Indonesia AI in Fashion Market

14. South Korea AI in Fashion Market

15. Western Europe AI in Fashion Market

16. UK AI in Fashion Market

17. Germany AI in Fashion Market

18. France AI in Fashion Market

19. Eastern Europe AI in Fashion Market

20. Russia AI in Fashion Market

21. North America AI in Fashion Market

22. USA AI in Fashion Market

23. South America AI in Fashion Market

24. Brazil AI in Fashion Market

25. Middle East AI in Fashion Market

26. Africa AI in Fashion Market

27. AI in Fashion Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The AI in Fashion Market

29. AI in Fashion Market Future Outlook and Potential Analysis

30. Appendix

Companies Mentioned

• Microsoft
• IBM
• AWS
• SAP
• Facebook
• Adobe
• Oracle
• Catchoom
• Huawei
• Vue.ai
• Heuritech
• Wide Eyes
• FINDMINE
• Intelistyle
• Lily AI
• Pttrns.ai
• Syte
• mode.ai
• Stitch Fix
• Lily AI
• Heuritch
• Alphabet Inc.(Google)

For more information about this report visit https://www.researchandmarkets.com/r/i6n0j8

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SOURCE Research and Markets