Dublin, Sept. 13, 2022 (GLOBE NEWSWIRE) -- 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
- 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/1816zk
