AI in Fashion Market Regional Analysis:
North America Market Insights
North America industry is estimated to dominate majority revenue share of 32% by 2035. owing to the presence of major key players such as Microsoft Corporation, IBM Corporation, Adobe Inc., and others. These key players are continuously investing in R&D for the launch of new AI technologies in the fashion sector. In addition, the key players are adopting new AI tools in the fashion industry for the management of clothes, and other fashion accessories with sustainability.
The market growth in Canada is set to grow over the forecast period due to the increasing government initiatives for the advancement of AI technologies. In June 2022, the Artificial Intelligence and Data Act (AIDA) was introduced in parliament to promote the development and use of AI systems in Canada’s private sector. Additionally, the surging use of smartphones and other devices among consumers for getting along with the new trend in fashion is another factor that is anticipated to foster market expansion in the country.
The AI in fashion market in the U.S. is projected to experience significant growth by 2035. This growth can be attributed to the growing use of different social media platforms such as Facebook, Instagram, and Snapchat, providing different fashion ideas to customers.
APAC Market Insights
By 2035, Asia Pacific AI in fashion market is set to hold more than 27% share. due to the growing e-commerce industry. AI provides different benefits to customers over the e-commerce platforms, such as product recommendations, chatbots, virtual assistants, and others.
The ongoing fashion trend and rising availability of clothes, and accessories at discounted rates is contributing to the expansion of the sector in China. The manufacturing and labor costs of producing clothes are low in this country owing to low tax & duty rates and strong business ecosystem.
The market in India is projected to experience notable growth by 2035, fueled by the increasing investment by the companies for marketing strategies and rapidly expanding fashion sector. AI analyzes the purchasing patterns of customers to understand the influencing fashion choices, which helps in tailoring marketing strategies. As a result, companies in the country can offer products as per the needs of the customers.
Japan's AI in fashion market is anticipated to grow over the forecast period due to surging use of AI robotics to manufacture better fashion products. AI robotics uses a 3D imaging lens to scan the clothing products and pack them accurately. Additionally, Japan is one of the major suppliers of industrial robotics to various countries such as the U.S. and China.
