Asia Pacific Digital Clothing Market Size, Share & Industry Trends Analysis Report By Transaction (On chain and Off chain), By Technology (Blockchain, 3D Software, Artificial Intelligence), By Application, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Digital Clothing Market would witness market growth of 27.7% CAGR during the forecast period (2022-2028).
Some well-known fast-fashion companies leveraged Instagram's cutting-edge AR technology to promote the latest collection and increase sales. By promoting itself primarily on Instagram and encouraging participants to make and distribute their unique music videos on other social media platforms, these initiatives attempted to engage with an intended audience of Generation Z customers.
Several of the biggest names in fashion developed augmented reality (AR) games in conjunction with Facebook as a part of their most recent collection, marking a first for the retail sector. In addition, retailers of fashion recently went digital. These cases show how brands value metaverse innovations because of their enormous potential for expanding audience reach and generating more income. It demonstrates how digital apparel and fashion have gone from the metaverse to the real world.
Digital fashion is gaining pace rapidly in Asia-Pacific, where awareness and appeal of sustainable apparel designs have increased in recent years. The digital clothing market is anticipated to expand due to millennials' strong purchasing power and affinity for digital clothes. In addition, the concept of phygital [digital and physical] fashion permits consumers to alter the meaning of what is genuine. For years, gamers have spent significant money on garments to outfit their avatars to their liking or according to the prevailing fashion. This is expected to accelerate market expansion in the region.
The China market dominated the Asia Pacific Digital Clothing Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $197.5 million by 2028. The Japan market is estimated to grow a CAGR of 26.9% during (2022 - 2028). Additionally, The India market would experience a CAGR of 28.5% during (2022 - 2028).
Based on Transaction, the market is segmented into on chain and Off chain. Based on Technology, the market is segmented into Blockchain, 3D Software, Artificial Intelligence, and Others. Based on Application, the market is segmented into Digital Content Creation, Fashion Design & Technology, Gaming, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Digital Clothing Market is Projected to reach USD 2.5 Billion by 2028, at a CAGR of 26.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Adidas AG, Guccio Gucci S.p.A. (Kering Group), Nike, Inc., LVMH SE, H&M Group, The Fabricant Agency B.V., Auroboros Ltd., More Dash, Inc. (DressX), Dolce & Gabbana S.r.l., and Replicant, Inc.
Scope of the Study
Market Segments Covered in the Report:
- On chain
- Off chain
- 3D Software
- Artificial Intelligence
- Digital Content Creation
- Fashion Design & Technology
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Adidas AG
- Guccio Gucci S.p.A. (Kering Group)
- Nike, Inc.
- LVMH SE
- H&M Group
- The Fabricant Agency B.V.
- Auroboros Ltd.
- More Dash, Inc. (DressX)
- Dolce & Gabbana S.r.l.
- Replicant, Inc.
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