Press release
The Global Apparel Software Market Reach USD 1,818.4 Billion by 2032 Growing at 9% CAGR
The global apparel software market has grown due to several factors such as the rise in adoption of online shopping in urban and rural areas and the increase in digitization across the globe are some of the main factors anticipated to propel the growth of the market. The rise in the use of the internet of things (IoT) and artificial intelligence among software developers will provide ample opportunities for the market's development during the forecast period.
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The global apparel software market size was valued at $834.3 billion in 2023, and is projected to reach $1, 818.4 billion by 2032, growing at a CAGR of 9% from 2024 to 2032.
The apparel software market size is segmented on the basis of deployment mode, application, and region. Depending on the deployment mode, it is segregated into on-premise and cloud. By application, it is categorized into apparel retail, apparel manufacturer, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
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By deployment mode, the on-premise segment held the highest market share in 2023. This is attributed to numerous advantages offered by on-premise deployment such as high level of data security and safety.
By application, the apparel retail segment held the highest market share in 2023. This is attributed to several factors, including the need for efficient inventory management, customer relationship management (CRM), point of sale (POS) systems, and the integration of e-commerce platforms in the retail sector.
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By region, North America held the highest market share in terms of revenue in 2023 and is expected to lead the market in terms of revenue throughout the forecast period. This demand is attributed to the rise in need for internet services to address the increasing adoption of digital technologies in the retail and e-commerce sectors. Individuals choose digital services to improve their knowledge and skills.
The major players operating in the apparel software market share include Systech Infovations Pvt. Ltd., AIMS 360 Apparel Software, Apparel Business Systems, Oracle Corporation, Orderhive Inc., Fast React Systems Ltd., AF Technologies, Inc., PowerSoft Computer Solutions Ltd., ApparelMagic, Computer Generated Solutions, Inc.
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Recent Industry Development:
● In February 2022, Aditya Birla Fashion and Retail Limited (ABFRL) collaborated with , for a digital transformation program designed to drive growth, increase business agility, and improve operational efficiency.
● In July 2022, The LYCRA Company partnered with Browzwear, to provide designers using VStitcher and Lotta, the pioneering platforms for 3D fashion design, the ability to quickly and easily develop products incorporating fabrics containing LYCRA, LYCRA T400, and COOLMAX® fibers.
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