What is Global AI in Fashion Market?
The Global AI in Fashion Market is a rapidly growing sector that leverages artificial intelligence (AI) to revolutionize the fashion industry. This market encompasses a wide range of applications, from predicting fashion trends to personalizing customer experiences. AI is used to analyze vast amounts of data, including customer preferences, social media trends, and sales data, to predict what styles and products will be popular in the future. This allows fashion brands to make more informed decisions about what products to design and produce. AI is also used to create personalized shopping experiences, by recommending products based on a customer's past purchases and preferences. Furthermore, AI can automate many aspects of the fashion industry, from manufacturing to customer service, making the industry more efficient and cost-effective. The Global AI in Fashion Market is a game-changer, offering exciting opportunities for innovation and growth in the fashion industry.
Apparel, Accessories, Footwear, Beauty and Cosmetics, Jewelry and Watches, Others in the Global AI in Fashion Market:
The Global AI in Fashion Market is not just limited to clothing. It also includes accessories, footwear, beauty and cosmetics, jewelry, watches, and other fashion-related products. AI is used in these sectors to predict trends, personalize customer experiences, and automate processes. For example, in the accessories sector, AI can analyze sales data and social media trends to predict what types of accessories will be popular in the future. In the beauty and cosmetics sector, AI can recommend products based on a customer's skin type and preferences. In the footwear sector, AI can be used to design shoes that are both stylish and comfortable, based on data about foot shapes and sizes. In the jewelry and watches sector, AI can predict what styles and materials will be popular, allowing brands to design products that will appeal to their target market. The use of AI in these sectors can lead to more innovative products, improved customer experiences, and increased sales.
Fashion Designers, Fashion Stores (Online and Offline Brand Stores) in the Global AI in Fashion Market:
The Global AI in Fashion Market is also transforming the way fashion designers and stores operate. Fashion designers can use AI to analyze trends and predict what styles will be popular in the future. This allows them to design products that are likely to be successful, reducing the risk of producing products that won't sell. AI can also automate many aspects of the design process, making it more efficient and cost-effective. Fashion stores, both online and offline, can use AI to personalize the shopping experience for their customers. AI can recommend products based on a customer's past purchases and preferences, making shopping more enjoyable and increasing the likelihood of a purchase. AI can also automate many aspects of running a store, from managing inventory to providing customer service, making the business more efficient and profitable.
Global AI in Fashion Market Outlook:
The outlook for the Global AI in Fashion Market is very promising. In 2023, the market was valued at US$ 380.7 million, and it is expected to grow to US$ 922.5 million by 2030, with a compound annual growth rate (CAGR) of 12.7% during the forecast period from 2024 to 2030. This growth is driven by the increasing adoption of AI in the fashion industry, as brands recognize the benefits of using AI to predict trends, personalize customer experiences, and automate processes. The growth of the AI industry in China is particularly noteworthy. In 2022, the size of China's core AI industry reached 508 billion, an increase of 18% from the previous year. From 2013 to November 2022, there were 729,000 patent applications for AI inventions worldwide, with China accounting for 53.4% of these applications. This demonstrates China's leading role in the development and application of AI technology.
| Report Metric | Details |
| Report Name | AI in Fashion Market |
| Accounted market size in 2023 | US$ 380.7 million |
| Forecasted market size in 2030 | US$ 922.5 million |
| CAGR | 12.7% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Microsoft (US), IBM (US), Google (US), AWS (US), SAP (Germany), Facebook (US), Adobe (US), Oracle (US), Vue.ai (US), Lily AI (US), Syte (Israel), mode.ai (US), Stitch Fix (US), Heuritech (France), Wide Eyes (Spain), FINDMINE (US), Catchoom (Spain), Huawei (China), Intelistyle (England), Pttrns.ai (Netherlands) |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
