Digital Clothing Market

WILMINGTON, DE, UNITED STATES, February 8, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Digital Clothing Market Share by Technology (3D Software, Blockchain, Artificial Intelligence, Others), by Transaction (On Chain, Off Chain), by Application Area (Digital Content Creation, Fashion Design and Technology, Gaming, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031"

According to the report, the global digital clothing industry generated $498.7 million in 2021, and is estimated to reach $4.8 billion by 2031, witnessing a CAGR of 26.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Rise in the development of the metaverse, the growing demand for sustainable clothing, and the surge in digitalization drive the growth of the global digital clothing market. However, high cost of digital garments hinders the global market growth. On the other hand, the growing trend of fast fashion and non-fungible tokens (NFTs) and a rapid advancement in augmented reality (AR) and virtual reality (VR) gaming industry present new growth opportunities for the global market in the coming years.

Digital clothing isn’t made of fabric or anything tangible. These garments are made from pixels rather than textiles, using computer technologies UX designs, and 3D software. Humans will not be able to wear an item of digital clothing in real life. Instead, customers may explore a collection of digital clothing online and purchase anything they choose. The user can either send a picture of themselves to a team of 3D designers depending on the tailor, who may either digitally fit the item of clothing on a photo or download and manipulate the files using 3D software, to post on social media.

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Covid-19 Scenario

Before the pandemic, digitization and fashion technology were not completely unrelated. Designers used digital fashion technology to create intricate and geometric patterns that were difficult to create manually. Data-integrated supply chains, AI-assisted design, tech-infused brick-and-mortar stores, and more already existed for some brands and retailers.
The Covid-19 pandemic accelerated the trend of digital transformation tenfold in the fashion industry, and normalized and democratized the idea of going digital even more.
Thus, the Covid-19 pandemic had a positive impact on the digital clothing industry.

Based on region, North America was the largest market in 2021, capturing nearly two-fifths of the global digital clothing market share and likely to lead in terms of revenue in 2031. Digital clothing continues to fuel business revenue growth in North America, due to growth in the metaverse, virtual reality, and augmented reality technology in the region. Rise in investments in non-fungible assets (NFT) and digital penetration also drive the growth of digital clothing in this region. However, the market in Asia-Pacific is expected to manifest the fastest CAGR of 27.84% during the forecast period. This is due to rapid urbanization and an increase in digital content creation and acceptance in the region.

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Leading Market Players

The Fabricant
Adidas AG
Auroboros
DRESSX
Kerings (Gucci)
LVMH
H&M Group
Dolce & Gabbana S.r.l.
Replicant, Inc.
Nike, Inc.

The report analyzes these key players of the global digital clothing market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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