AI's Surge In Fashion Market Influenced By Social Media: Powering Innovation and Expansion in the AI in Fashion Market by 2025

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What Will the AI in Fashion Industry Market Size Be by 2025?
The market size of AI in fashion has seen significant growth over the last few years. It is projected to rise from $1.26 billion in 2024 to $1.77 billion in 2025, with a compound annual growth rate (CAGR) of 40.4%. The significant growth during the historical period can be associated with factors such as visual search and recognition, optimization of the supply chain, virtual try-on services, fraud detection, and sustainable practices.

What's the Long-Term Growth Forecast for the AI in Fashion Market Size Through 2029?
The market size for AI in fashion is anticipated to witness substantial growth in the upcoming years, with a predicted value of $6.99 billion in 2029, reflecting a compound annual growth rate (CAGR) of 41.0%. This growth during the forecast period can be attributed to factors like voice-activated shopping, predictive trend analysis, and dynamic pricing strategies. Notable trends projected during this period encompass virtual fitting experiences, tailored suggestions, style recognition through computer vision, optimization of the supply chain, along with chatbots and virtual assistant services.

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What Are the Key Growth Drivers Fueling the AI in Fashion Market Expansion?
The expansion of artificial intelligence (AI) in the fashion industry is significantly fueled by the escalating impact of social media. Social media acts as a chief knowledge hub for the fashion world, aggregating views and data from worldwide sources. The contemporary fashion realm heavily relies on brand promotion and fashion influencers, who use social media as a platform to express their fashion perspectives. For instance, the influencer marketing hub, a resource center for influencers, anticipates the influencer marketing sector to burgeon from $9.7 billion in 2020 to $13.8 billion in 2021. The advancing popularity of compact video formats on platforms like TikTok, Facebook, and YouTube, combined with the global pandemic's impact on consumers, has spiked social media usage. Furthermore, the enhancement of data collection methods employed for social media advertising also adds to this growth. This escalating sway of social media thus propels the expansion of the AI in the fashion market.

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What Are the Key Trends Driving AI in Fashion Market Growth?
Key players in the AI in fashion industry are concentrating their efforts on the development of machine learning, such as AI platforms, with the goal of enhancing personalization, optimizing stock levels, and simplifying supply chains. These innovative strategies are designed to elevate the consumer experience and promote sustainability within the sector. An AI platform is a holistic environment offering the necessary tools and resources for the creation, deployment, and management of artificial intelligence applications, typically encompassing development frameworks, data management, computational resources, and deployment services. For example, in October 2023, Mango, an outlet store business based in Spain, unveiled a new product called Lisa. Lisa is Mango's proprietary AI platform that simplifies operations and improves the user experience by offering immediate support in areas such as design, trend assessment, and customer service. Functioning as an aide to Mango's staff, Lisa promotes operational efficiency and innovation, aligning with the company's strategy of digital transformation.

How Is the AI in Fashion Market Segmented?
The AI in fashion market covered in this report 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

Subsegments:
1) By Apparels: Smart Clothing, Customizable Fashion, Virtual Fitting Rooms
2) By Accessories: AI-Powered Handbags and Bags, Wearable Tech Accessories, Personalized Jewelry Recommendations
3) By Footwear: Custom Fit Solutions, AI-Driven Footwear Design, Smart Shoes with Tracking Capabilities
4) By Beauty And Cosmetics: Virtual Makeup Try-Ons, Personalized Skincare Solutions, AI-Based Color Matching Tools
5) By Jewelry: Virtual Try-On Solutions, Custom Design Tools, AI-Driven Recommendations Based On Trends And Preferences

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Which Companies Are Leading the Charge in AI in Fashion Market Innovation?
Major companies operating in the AI in fashion market include Alphabet Inc., Microsoft Corporation, Meta Platforms Inc, Huawei Technologies Co. Ltd., Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, SAP SE, Adobe Inc., Stitch Fix Inc., Optitex Ltd., Syte Visual Conception Ltd., True Fit Corporation, Nextail Labs S.L., Lily AI inc., AiFi Technologies Inc., Revieve Oy, Heuritech SAS, Dressformer, StyleSage Inc., Donde Search Ltd., Wide Eyes Technologies S.L., Vue.ai, ZyloTech Inc., FINDMINE Inc., Mode.ai, Intelistyle, Catchoom Technologies S.L., Pttrns.ai, Fashwell AG, Wide Eyes Technologies S.L., H&M Group's Ivyrevel AB, Choosy Inc., SnapFashion Limited, ELSE Corp Srl, Farfetch Limited

Which Regions Are Leading the Global AI in Fashion Market in Revenue?
North America was the largest region in the AI in fashion market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AI in fashion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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