Global AI in Fashion Market: Major Trends Reshaping the Future of the Industry

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What Will the AI in Fashion Industry Market Size Be by 2025?
In recent times, there has been a tremendous increase in the size of the AI in fashion market. It is expected to rise from $1.26 billion in 2024 to $1.75 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 39.2%. Factors contributing to the growth during the historic period include visual search and recognition, improvements in 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?
Anticipated to experience remarkable expansion over the upcoming years, the size of the AI in fashion market is projected to reach $6.8 billion in 2029, boasting a compound annual growth rate (CAGR) of 40.3%. This projected growth during the forecast period is largely due to factors such as the rise of voice-activated shopping, predictive trend analytics, and dynamic pricing strategies. Key trends anticipated during this period are the virtual try-on experience, personalized suggestions, the use of computer vision for style identification, optimization of the supply chain, plus the incorporation of chatbots and virtual assistants.

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What Are the Key Growth Drivers Fueling the AI in Fashion Market Expansion?
The expanding role of social media in the fashion sector is fueling the rise of AI in the fashion market. Social media serves as a primary data hub for the fashion field, aggregating numerous views and information from worldwide sources. Today's fashion is largely reliant on brand publicity and fashion influencers who utilize social media to express their fashion perceptions. For example, the influencer marketing hub, a resource for influencers on social media, predicts that the influencer marketing market will expand from $9.7 billion in 2020 to $13.8 billion in 2021. The growth is stoked by the rising preference for short video formats on platforms like TikTok, Facebook, and YouTube, the changes in consumer behavior due to the global pandemic which sparked an increase in social media usage, and the enhancement of data collection methods used for social media advertisements. This increasing influence of social media is propelling the development of the AI in fashion market.

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What Are the Key Trends Driving AI in Fashion Market Growth?
Leading organizations in the AI in fashion market are concentrating on the development of machine learning technologies, such as AI platforms, to increase personalization, maximize inventory efficiency, and simplify supply chains. These technological advancements are intended to emphasize enhancing consumer satisfaction and promoting sustainable operations within the industry. Typically, an AI platform is a well-rounded environment that offers the necessary tools and resources for the development, deployment, and management of AI applications, incorporating elements like development frameworks, data management, computational resources, and deployment services. For example, in October 2023, Mango, a store company based in Spain, introduced Lisa, a conversational generative AI platform. Lisa assists in streamlining operations and improving user interactions by offering immediate support in areas like design, trend analysis, and customer service. Acting as a supportive associate for employees, Lisa promotes efficiency and inspires innovation, aligning with Mango's digital transformation strategy.

How Is the AI in Fashion Market Segmented?
The ai in fashionmarket 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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