GNAI Visual Synopsis: An engaging graphic displaying the integration of AI technology in the fashion industry, showcasing virtual assistants, personalized product recommendations, and advanced design processes.
One-Sentence Summary
The North American fashion market’s adoption of artificial intelligence is projected to grow significantly by 2027, from US$128.7 million to US$2254.2 million, with key players like Adobe, Amazon, and Microsoft driving innovation. Read The Full Article
Key Points
- 1. The North American AI in fashion market is anticipated to grow from US$ 128.7 million in 2018 to US$ 2254.2 million by 2027, showcasing a CAGR of 37.9% from 2019 to 2027.
- 2. Key market players in this space include Adobe Inc., Amazon.com, Inc., and Microsoft Corporation, with segments covering on-premise and cloud-based applications for product recommendation, virtual assistants, and more.
- 3. The report also analyzes the impact of COVID-19 on the market and presents insights into market opportunities, challenges, and the strategies of major competitors.
Key Insight
The article sheds light on the rapid growth and potential of artificial intelligence in revolutionizing the fashion industry, illustrating a shift towards more efficient and personalized consumer experiences, enhanced design processes, and improved customer relationship management.
Why This Matters
The advancement of AI in the fashion market not only indicates a significant technological evolution but also holds implications for consumer preferences, supply chain management, and the future of retail experiences. This growth also raises questions about data privacy, ethical AI use, and its impact on job roles within the fashion industry.
Notable Quote
“This report includes an analysis of the impact of the COVID-19 pandemic. The report offers a complete and analytical look at various companies striving to achieve high market shares in the North America Artificial Intelligence in Fashion Market.”
