Apparel Software Market By Deployment Type (On-premise, Cloud) , By Application (Apparel Retails, Apparel Manufacturer, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2032
Apparel Software Market
The apparel software market was valued at $834.3 billion in 2023 and is projected to reach $1818.4 billion by 2032, growing at a CAGR of 9% from 2024 to 2032.
Apparel software is a type of management software for retail businesses that manages the manufacturing, distribution, and retailing of clothing products. The database of the software records all the details of products and tracks down the sales, helping businesses to make inventory decisions through data analysis. The major functions performed by apparel software include product scheduling, apparel forecasting, accounting, inventory management, e-commerce, and customer relationship management (CRM). The ability of the software to streamline operational and administrative activities aids garment businesses to enhance their efficiency & productivity.
Surge in inclination toward integrating digital technologies to simplify the operations of retail business is a major driver of the apparel software market. Moreover, the software exhibits the capability to regulate complex supply chains and reduce the lead times through data analytics, which augments the development of the market. In addition, rise of the e-commerce industry is propelling the market growth as the software facilitates smooth online order processing and CRM. The use of AI and ML algorithms to assimilate predictive analytics capabilities into the software is currently trending in the apparel software market. Predictive analytics aids the businesses to elevate their presence in the market and make well-informed decisions through future fashion forecasting & consumer behavior prediction.
However, the implementation and management of the software is a time-consuming and capital-intensive process, deterring several small-scale apparel businesses from investing in it. This restrains the growth of the apparel software market significantly. Furthermore, the use of digital technology poses concerns related to data security and leak of sensitive business information, which limits the adoption of software and hampers the market development. On the contrary, increase in awareness among businesses regarding the multidimensional benefits of apparel software is presenting several lucrative opportunities for the market expansion. Global consulting firm, McKinsey & Company mentioned in a recent report that in 2021, the investment of fashion companies in technology was 1.6-1.8% of their total revenue. The firm predicts this figure to increase to 3-3.5% by 2030. This surge in investment in technology is poised to open new avenues for the apparel software market.
Segment ReviewThe apparel software market is segmented into deployment type, application, and region. On the basis of deployment type, the market is bifurcated into on-premise and cloud. Depending on application, it is divided into apparel retails, apparel manufacturer, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and MEA.
Key FindingsOn the basis of deployment type, the on-premise segment dominated the market in 2023.
Depending on application, the apparel retails segment acquired a high stake in the market in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition AnalysisThe leading players operating in the global apparel software market include Systech Infovations Pvt. Ltd., AIMS 360 Apparel Software, Apparel Business Systems, Oracle Corporation, Orderhive Inc., Fast React Systems Ltd., AF Technologies, Inc., PowerSoft Computer Solutions Ltd., ApparelMagic, and Computer Generated Solutions, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Key Market SegmentsBy Deployment TypeOn-premise
Cloud
By ApplicationApparel Retails
Apparel Manufacturer
Others
By RegionNorth America
U.S.
Canada
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
Latin America
Brazil
Colombia
Argentina
Rest of Latin America
MEA
Saudi Arabia
South Africa
UAE
Rest of MEA
Key Market PlayersSystech Infovations Pvt. Ltd.
AIMS 360 Apparel Software
Apparel Business Systems
Oracle Corporation
Orderhive Inc.
Fast React Systems Ltd.
AF Technologies, Inc.
PowerSoft Computer Solutions Ltd.
ApparelMagic
Computer Generated Solutions, Inc.