Analysis and Forecasts by Offerings (Solutions and Services); Deployment (On-premise and Cloud-based); Application (Product Recommendation, Virtual Assistant, Product Search and Discovery, Creative Designing and Trend Forecasting, Customer Relationship Management, and Others); End-User Industry (Apparel, Accessories, Cosmetics, and Others)
No. of Pages:174
Report Code:
TIPRE00007521
Category:
Technology, Media and Telecommunications
The artificial intelligence in the fashion market in Europe is expected to grow from US$ 69.2 Mn in 2018 to US$ 933.9 Mn by the year 2027, with a CAGR of 34.0% from the year 2019 to 2027.
In the past few years, AI and its applications, such as Machine Learning (ML), Natural Language Processing (NLP), Expert Systems, Automated Speech Recognition, AI Planning, and Computer Vision, have gained considerable traction in terms of both R&D and use cases across the globe. Multiple industry verticals have implemented AI technology for various use cases that require real-time analytics with self-learning technology to gain useful business insights. AI has enormous potential in the fashion industry. Fashion companies use AI-based solutions to design tools that would provide recommendations to customers based on their purchase history. Driving factors such as availability of massive amount of data due to increasing proliferation of digital services, and increase in operational efficiency and sales through intelligent automation are driving the adoption of AI in fashion industry will drive the market during the forecast period and have a high impact in the short term. However, challenges posed by data privacy and security issues is anticipated to hinder the market growth in the coming years.
On the basis of end-user industry, artificial intelligence in fashion market is segmented into apparel, accessories, cosmetics, and others. As retailers, apparel, luxury, and beauty brands look for technologies to build a more satisfying and smooth shopping experience; they’re gradually observing AI together with other data-related solutions. With increasing commercialization of AI technology, the simplicity of solutions is developing in line with the technology’s accessibility. The fashion industry is progressively implementing the latest progress in AI to improve e-commerce productivity, enhance the retail experience, and offer promotional campaigns as well as clothes themselves. The apparel segment led the artificial intelligence in fashion market in 2018 and is expected to dominate the market in the forecast period.
France led the Europe artificial intelligence in fashion market in 2018 and is expected to continue its dominance during the forecast period. France, Germany, and Italy are at the forefront of artificial intelligence in fashion market in the European region. This is due to the fact that these countries house several well-established, financially balanced, and massive customer base clothing and accessory companies. The remarkable customer base with huge financials has enabled these companies to invest in artificial technologies to boost their customer shopping experience, thereby, driving their business. This factor has catalyzed the growth of artificial intelligence in fashion in Europe. The figure given below highlights the revenue share of the rest of Europe in the artificial intelligence in fashion market in the forecast period:
Rest of Europe Artificial Intelligence in Fashion Market Revenue and Forecast to 2027
(US$ Mn)
EUROPE ARTIFICIAL INTELLIGENCE IN FASHION MARKET SEGMENTATION
By Offerings
Solutions
Services
By Deployment
On-Premise
Cloud-Based
By Application
Product Recommendation
Virtual Assistant
Product Search and Discovery
Creative Designing and Trend Forecasting
Customer Relationship Management
Others
By End-User Industry
Apparel
Accessories
Cosmetics
Others
By Country
France
Germany
UK
Italy
Switzerland
Rest of Europe
Artificial Intelligence in Fashion Market - Companies Mentioned
Adobe Inc.
Amazon.com, Inc.
Catchoom
Facebook, Inc.
Google, Inc. (Alphabet Inc.)
Huawei Technologies Co., Ltd
IBM Corporation
Microsoft Corporation
Oracle Corporation
SAP SE
Europe Artificial Intelligence in Fashion Market Strategic Insights
Get more information on this report
Europe Artificial Intelligence in Fashion Market Segmentation Analysis
Europe Artificial Intelligence in Fashion Market Report Highlights
Europe Artificial Intelligence in Fashion Report Scope
Report Attribute
Details
Market size in 2018
US$ 69.2 Million
Market Size by 2027
US$ 933.9 Million
CAGR (2019 - 2027)
34.0%
Historical Data
2016-2017
Forecast period
2019-2027
Segments Covered
By Offerings
Solutions
Services
By Deployment
On-premise
Cloud-based
By Application
Product Recommendation
Virtual Assistant
Product Search and Discovery
Creative Designing and Trend Forecasting
Customer Relationship Management
By End-User Industry
Apparel
Accessories
Cosmetics
Regions and Countries Covered
Europe
UK
Germany
France
Russia
Italy
Rest of Europe
Market leaders and key company profiles
Adobe Inc.
Amazon.com, Inc.
Catchoom
Facebook, Inc.
Google, Inc. (Alphabet Inc.)
Huawei Technologies Co., Ltd
IBM Corporation
Microsoft Corporation
Oracle Corporation
SAP SE
Get more information on this report
Europe Artificial Intelligence in Fashion Market Country and Regional Insights
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Identical Market Reports with other Region/Countries
How big is the Europe Artificial Intelligence in Fashion Market?
The Europe Artificial Intelligence in Fashion Market is valued at US$ 69.2 Million in 2018, it is projected to reach US$ 933.9 Million by 2027.
What is the CAGR for Europe Artificial Intelligence in Fashion Market by (2019 - 2027)?
As per our report Europe Artificial Intelligence in Fashion Market, the market size is valued at US$ 69.2 Million in 2018, projecting it to reach US$ 933.9 Million by 2027. This translates to a CAGR of approximately 34.0% during the forecast period.
What segments are covered in this report?
The Europe Artificial Intelligence in Fashion Market report typically cover these key segments-
Offerings (Solutions, Services)
Deployment (On-premise, Cloud-based)
Application (Product Recommendation, Virtual Assistant, Product Search and Discovery, Creative Designing and Trend Forecasting, Customer Relationship Management)
End-User Industry (Apparel, Accessories, Cosmetics)
What is the historic period, base year, and forecast period taken for Europe Artificial Intelligence in Fashion Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Artificial Intelligence in Fashion Market report:
Historic Period : 2016-2017
Base Year : 2018
Forecast Period : 2019-2027
Who are the major players in Europe Artificial Intelligence in Fashion Market?
The Europe Artificial Intelligence in Fashion Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
Adobe Inc.
Amazon.com, Inc.
Catchoom
Facebook, Inc.
Google, Inc. (Alphabet Inc.)
Huawei Technologies Co., Ltd
IBM Corporation
Microsoft Corporation
Oracle Corporation
SAP SE
Who should buy this report?
The Europe Artificial Intelligence in Fashion Market report is valuable for diverse stakeholders, including:
Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the Europe Artificial Intelligence in Fashion Market value chain can benefit from the information contained in a comprehensive market report.
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