GITNUX MARKETDATA REPORT 2024

Ai In The Textile Industry Statistics

The use of AI in the textile industry has the potential to optimize production processes, improve quality control, and enhance customer experiences through data-driven insights and predictive analytics.

Statistic 1

"As per the Allied Market Research in 2020, the global market size of AI in the textile industry was $240 million."

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Statistic 2

"The AI in textile industry is expected to grow at a CAGR of 13.6% from 2021 to 2027 according to a report by Allied Market Research."

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Statistic 3

"North America accounted for approximately 40% of the total AI in the textile industry market in 2020."

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Statistic 4

"AI applications in the textile sector can potentially increase the industry’s productivity by 45% as reported by McKinsey in 2019."

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Statistic 5

"According to a report from Google Trends, search interest for 'AI in Textiles' has risen by over 200% in the last five years."

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Statistic 6

"By 2027, AI in the textile industry will reach $780 million, as projected by Allied Market Research."

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Statistic 7

"According to a study published on Springer, AI can enhance the accuracy of color prediction in textile design by up to 98%."

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Statistic 8

"AI has the potential to improve the overall supply chain efficiency in the garment and textile industry by 25%-40%, according to McKinsey."

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Statistic 9

"As per PR Newswire, fashion-tech businesses implementing AI increased by 60% in 2020."

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Statistic 10

"According to Accenture, AI has the potential to boost profitability rates by an average of 39% in the textile industry by 2035."

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Statistic 11

"By 2024, over 60% of textile manufacturers plan to extensively use AI in their operations, from a report by IBM."

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Statistic 12

"According to MarketsandMarkets, AI in the fashion market is projected to grow from $228 million in 2019 to $1.26 billion by 2024, at a CAGR of 41.1%."

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Statistic 13

"The AI in fashion market in APAC is expected to grow at the highest CAGR during the forecast period (2019–2024)."

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Statistic 14

"The prescriptive analytics segment of the AI in fashion market is expected to grow at the highest CAGR during the forecast period (2019–2024)."

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Statistic 15

"Fashion brands that implement AI are seeing an increase in customer engagement by 47%, and an increase in customer conversions by 35%, according to a report by ResearchAndMarkets."

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Statistic 16

"41% of the most successful textile brands claim that AI is helping them adjust in real-time to changing fashion trends, as per fashionunited.com."

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Statistic 17

"The rise in the number of start-ups entering the fashion and textile industry with AI-based solutions increased by 30% in 2020."

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Statistic 18

"Over 80% of fashion retailers plan to significantly increase their AI budgets in 2021, as mentioned by retailtouchpoints.com."

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Statistic 19

"The integration of AI with CRM systems in the textile industry resulted in an increase of 65% in sales productivity."

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