By 2030, the global market for fashion-related artificial intelligence (AI) will be worth $16.3 billion.
In 2022, the global Artificial Intelligence (AI) in Fashion market was estimated to be worth US$1.2 billion. By 2030, it is anticipated that this market will have grown to US$16.3 billion, with a stunning CAGR of 37.9%.
Solutions, Services, Other Applications, Product Recommendation, Product Search & Discovery, Customer Relationship Management, Supply Chain Management & Demand Forecasting, Creative Designing & Trend Forecasting, Fashion Stores, and Fashion Designers are just a few of the segments that are covered in the analysis.
Particularly, it is anticipated that the Solutions segment will grow significantly—36.4% CAGR—and complete the assessment year with US$9.1 billion. The Services segment is also expected to experience strong growth in light of the post-pandemic recovery, with a revised CAGR of 40.1% over the next 8 years.
The global Artificial Intelligence (AI) in Fashion market is thoroughly examined in this in-depth study, which covers yearly sales data from 2014 to 2030 across important geographic regions like the USA, Canada, Japan, China, Europe, Asia-Pacific, and the Rest of the World.
It also provides an 8-year view, providing information on how value sales will be divided up by region in 2023 and 2030. This comprehensive market analysis may be used by businesses in the fashion sector to help them build informed AI adoption and strategy decisions.
Notably, whereas China, the second-largest economy in the world, is expected to reach an estimated market size of US$2.6 Billion by 2030 with a strong CAGR of 36.2% from 2022 to 2030, the U.S. Artificial Intelligence (AI) in the Fashion industry is anticipated to be worth US$375.8 Million in 2022.
Japan and Canada are two more important markets that are anticipated to increase at rates of 33.2% and 31.2%, respectively, between 2022 and 2030. Germany is anticipated to increase at a respectable rate of roughly 23.8% CAGR throughout Europe.
The research provides information on important market participants, including Adobe, Google, Facebook, IBM, and Microsoft, as well as insights into competition dynamics.
