Asia Pacific Artificial Intelligence in Fashion Market
No. of Pages: 170 | Report Code: TIPRE00007520 | Category: Technology, Media and Telecommunications
No. of Pages: 170 | Report Code: TIPRE00007520 | Category: Technology, Media and Telecommunications
The artificial intelligence in the fashion market in Asia Pacific is expected to grow from US$ 55.1 Mn in 2018 to US$ 1015.8 Mn by the year 2027, with a CAGR of 39.0% from the year 2019 to 2027.
Driving factors such as the accessibility of massive amounts of data from different data sources and real-time consumer behavior insights and increased operational efficiency are driving the adoption of artificial intelligence in fashion market. Further, the advent of natural language programming (NLP) to the fashion industry is expected to facilitate significant growth opportunities for artificial intelligence in fashion market. NLP offers high-efficiency human experience and makes highly interactive chatbots. Vendors have a huge opportunity to improve their services by implementing NLP to its solutions. In the fashion industry, and NLP has capabilities to offer great help to fashion and apparel websites by filtering the majority of customer’s issues and send it to different customers to clarify the issues. Business is taking efforts for better understanding and implementation of NLP. NLP’s are capable of handling the number of systems that work together to handle end-to-end interactions between machines and humans.
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.
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$3.4 billion, more than any other sector, in artificial intelligence for capabilities such as expert shopping advisors, automated customer-service agents, and omnichannel merchandising. Thus, substantial investments and ongoing contracts among leading IT companies and fashion brands to develop advance software are propelling the growth of artificial intelligence in fashion market at a rapid pace. The solution segment led the artificial intelligence in fashion market in 2018 and is anticipated to dominate the market in the forecast period.
China dominated the artificial intelligence in fashion market in 2018 and is expected to dominate the market with the highest share in the Asia Pacific region through the forecast period. China is the biggest supplier of apparel to European countries. Some of the apparel companies are shifting their manufacturing units to Bangladesh and Vietnam due to lower labor costs. Pertaining to this factor, the country’s textile and apparel producers are struggling through an industrial restructuring. On the other hand, China still holds the position of largest clothing exporter worldwide with enormous production capacities. Also, the Chinese market is about to overtake the US fashion industry market in the forthcoming period because of the demand from the luxury segment. Therefore, the country has an opportunity to take benefit of artificial intelligence in fashion industry as the Chinese market is unique and is also crucial for the luxury fashion business. The figure given below highlights the revenue share of the rest of Asia Pacific in the artificial intelligence in fashion market in the forecast period:
Rest of Asia Pacific Artificial Intelligence in Fashion Market Revenue and Forecast to 2027
(US$ Mn)
Strategic insights for the Asia Pacific Artificial Intelligence in Fashion provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 55.1 Million |
| Market Size by 2027 | US$ 1015.8 Million |
| Global CAGR (2019 - 2027) | 39.0% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Offerings
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Artificial Intelligence in Fashion refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
ASIA PACIFIC ARTIFICIAL INTELLIGENCE IN FASHION MARKET SEGMENTATION
By Offerings
By Deployment
By Application
By End-User Industry
By Country
Artificial Intelligence in Fashion Market - Companies Mentioned
The List of Companies
The Asia Pacific Artificial Intelligence in Fashion Market is valued at US$ 55.1 Million in 2018, it is projected to reach US$ 1015.8 Million by 2027.
As per our report Asia Pacific Artificial Intelligence in Fashion Market, the market size is valued at US$ 55.1 Million in 2018, projecting it to reach US$ 1015.8 Million by 2027. This translates to a CAGR of approximately 39.0% during the forecast period.
The Asia Pacific Artificial Intelligence in Fashion Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Artificial Intelligence in Fashion Market report:
The Asia Pacific Artificial Intelligence in Fashion Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Artificial Intelligence in Fashion Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Artificial Intelligence in Fashion Market value chain can benefit from the information contained in a comprehensive market report.
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