The AI In Fashion Global Market Report 2023 by The Business Research Company, provides ai in fashion market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s AI In Fashion Global Market Report 2023, the market size is expected to grow from$0.65 billion in 2022 to $0.91 billion in 2023 at a compound annual growth rate (CAGR) of 40.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the ai in fashion is expected to grow to $3.72 billion in 2027 at a CAGR of 42.0%.
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.
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The ai in fashion market is segmented:
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
Machine learning are 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.
The ai in fashion market report table of contents includes:
1. Executive Summary
2. AI in Fashion Market Characteristics
3. AI in Fashion Market Trends And Strategies
4. AI in Fashion Market – Macro Economic Scenario
5. COVID-19 Impact On AI in Fashion Market
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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
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