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Massive Growth of Asia Pacific Artificial Intelligence in Fashion Market growth during Forecast 2019-2027 | Adobe Inc., Amazon.com, Catchoom, IBM Corporation
artificial intelligence in fashion market
This technology enables users to interact more naturally. Business is making huge investments in developing NLP-enabled solutions for the fashion industry. For instance, Zalando SE, Germany based Fashion Company, implemented the NLP model to its website based on PyTorch and Python.
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On the basis of offerings, artificial intelligence in fashion market is segmented into solutions and services. Cognitive computing and artificial intelligence are increasing agility for retailers. Significant investments are being made by some of the leading IT companies as well as fashion retailers. In 2018, the retail industry invested approximately US$3.4 billion, more than any other sector, in artificial intelligence for capabilities such as expert shopping advisors, automated customer-service agents, and omnichannel merchandising.
Thus, substantial investments and ongoing contracts among leading IT companies and fashion brands to develop advance software are propelling the growth of artificial intelligence in fashion market at a rapid pace. The solution segment led the artificial intelligence in fashion market in 2018 and is anticipated to dominate the market in the forecast period.
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China dominated the artificial intelligence in fashion market in 2018 and is expected to dominate the market with the highest share in the Asia Pacific region through the forecast period. China is the biggest supplier of apparel to European countries. Some of the apparel companies are shifting their manufacturing units to Bangladesh and Vietnam due to lower labor costs. Pertaining to this factor, the country’s textile and apparel producers are struggling through an industrial restructuring.
ASIA PACIFIC ARTIFICIAL INTELLIGENCE IN FASHION MARKET SEGMENTATION
By Offerings
Solutions
Services
By Deployment
On-Premise
Cloud-Based
By Application
Product Recommendation
Virtual Assistant
Product Search and Discovery
Creative Designing and Trend Forecasting
Customer Relationship Management
Others
By End-User Industry
Apparel
Accessories
Cosmetics
Others
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