Artificial intelligence and machine learning are becoming major trends in the apparel industry
The Business Research Company Apparel Market Report – Opportunities and Strategies – Global Forecast to 2030
LONDON, GREATER LONDON, United Kingdom, April 19, 2021 /EINPresswire.com/ – Our reports have been revised for market size, forecast and strategies to be taken in 2021 after the impact of COVID-19: https://www.thebusinessresearchcompany.com/global-market-reports
Apparel manufacturing companies are investing in artificial intelligence (AI) and machine learning to predict the themes of trends, silhouettes, colors, styles and feelings of customers around, according to fashion market research. of the product. Tommy Hilfiger announced a partnership with IBM and the Institute of Fashion Technology to develop an artificial intelligence system with Infor Design and Tech lab for a project called Reimagine Retail, to show how the capabilities of AI, y including computer vision, natural language understanding and especially deep learning techniques trained with fashion data. These machine learning tools have been applied to 15,000 Tommy Hilfiger product images, 600,000 publicly available runway images and nearly 100,000 designs from fabric sites. The AI has produced information on Tommy Hilfiger’s style and silhouettes, trendy colors and AI-generated patterns. Another San Francisco-based company, Stitch Fix, which supplies clothing to customers with the help of online stylists, works with AI. Stitch Fix now designs garments created by algorithms that identify trends and styles missing from inventory based on combinations of consumers’ selections of their favorite colors, patterns and textiles selected by AI systems.
The global clothing market is segmented by type into womenswear, menswear, kidswear, by distribution channel in retail stores, online stores and by type of man-made fiber, man-made fiber, cotton, fiber of animal origin, vegetable-based. fibers. The sub-segments covered are dresses and skirts, womens pants, blouses, womens shirts, sweatshirts and pullovers, womens coats and jackets, womens suits and sets, womens blazers, nightwear and underwear (women and girls), t-shirts and slarlets for women, sports and swimwear, other clothing for women, pants for men, shirts for men, shirts for men, sweatshirts and pullovers, men’s coats and jackets, men’s blazers, men’s suits, sleepwear and underwear (men and boys), men’s t-shirts and slarlets, sports and swimwear for men, other clothing for men, clothing for babies and toddlers, clothing for young children.
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The size of the global apparel market is expected to grow from $ 527.8 billion in 2020 to $ 635.7 billion in 2021 at a compound annual growth rate (CAGR) of 20%. Growth of the clothing market is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the shutdown of business activities that have resulted in operational challenges. The market is expected to reach $ 842.3 billion in 2025 with a CAGR of 7%.
Major companies in the apparel industry include NIKE Inc, Adidas AG, VF Corporation, PVH Corp, Hanesbrands Inc.
Global Apparel Market – By Type (Women’s Clothing, Men’s Clothing, Children’s Clothing), By Fiber Type (Artificial Fibers, Cotton Fibers, Animal Fibers, Plant Fibers), By Distribution Channel ( online sales, offline sales), and by region, opportunities and strategies – Global Forecast To 2030 is part of a series of new reports from The Business Research Company that provides apparel market insight, forecasts clothing market size and growth for the whole market, apparel market segments and geographies, apparel market trends, apparel market drivers, restraints, revenue, profiles and market share of major competitors.
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