Press release
Digital Clothing Market to grow at a CAGR of 26.4 by 2031 and to reach $4.8 billion by 2031
Digital Clothing Market
The digital clothing market was valued at $498.70 million in 2021, and is estimated to reach $4.8 billion by 2031, growing at a CAGR of 26.4% from 2022 to 2031.
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Digital clothing isn't made of fabric or anything tangible. These garments are made from pixels rather than textiles, using computer technologies UX designs, and 3D software. Humans will not be able to wear an item of digital clothing in real life. Instead, customers may explore a collection of digital clothing online and purchase anything they choose. The user can either send a picture of themselves to a team of 3D designers depending on the tailor, who may either digitally fit the item of clothing on a photo or download and manipulate the files using 3D software, to post on social media.
According to digital clothing market research, the U.S. digital clothing market was valued at $175 million in 2021 and is projected to reach $1,500 million by 2031, registering a CAGR of 26%. The on-chain segment was the highest revenue contributor, accounting for $130 million in 2021, and is estimated to reach $1,280 million by 2031, with a CAGR of 26%. The off-chain segment is estimated to reach $302 million by 2031, at a significant CAGR of 23%.
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Competitive Analysis:
The competitive environment of Digital Clothing Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Digital Clothing Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key Players:
Adidas AG
Auroboros
Dolce & Gabbana S.r.l.
DRESSX
Kering (Gucci)
H&M Group
LVMH
Nike, Inc.
Replicant, Inc.
The Fabricant and Many More
By region, North America held a significant global digital clothing market share, due to expansion in smartphone penetration and growth in digitalization of the region, the U.S. and Canada currently dominate the regional market for the North America region. The main drivers of the growth of the digital clothing industry in this region are the rapid advancements in artificial intelligence and blockchain technology. Moreover, rapid urbanization and an increase in digital content creation and acceptance are the primary factors that drive the growth of the digital clothing market in Asia-Pacific, Europe, and LAMEA.
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Digital clothing has become a significant aspect of business with the emergence of machine learning and AI, and its future effects may be enormous. The visual depiction of clothing created with computer technology and 3D software is known as digital fashion. The utilization of digital fashion technology, such as artificial intelligence to produce items with complicated social and technological software, and ethical awareness are both contributing to the growth of this business. Digital fashion is another way that technology and couture interact. Information and communication technologies (ICTs) have become a significant part of both the fashion business and the experiences of customers and potential customers.
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