Market Report: Visual Search SaaS Fashion Technology, Oct 2016

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FashionTech: Visual Search, Machine Learning, and AI in E-commerce

The market for Visual Search technologies has experienced accelerated growth in the period from our last sector report published in April 2016. The primary driver is thought to be an increased understanding of the benefits of the technology among merchants. Despite a number of companies closing down we see the niche growing fast over the next 6-18 months, especially as land-and-grow strategies come to fruition as merchants push the technologies into other spaces.

This report profiles 24 companies in the FashionTech: Visual Search niche including the likes of: Asap54, Cortexica, Deepomatic, Kuznech, Mad Street Den, Picalike, Pomika, Sentient Technologies, Shot and Shop, Skimbit, Slyce, Snapshopr, The Hunt, ViSenze, Wazzatlabs, and Wide Eyes.

We conducted in-depth interviews (30 minutes+) with C-level executives in the key companies. We also interviewed industry market specialists as a part of this report.

 PDF format report with 66 pages. Downloadable after payment.

Visual Search allow your customers to engage with your company using imagery as a communication tool. Customers can search retaile catalogues using images and retailers can offer customers a more personalised and unique shopping journey by implementing visual search tools such as Machine Learning and Artificial Intelligence.

The most popular product is currently search similar with most of the companies interviewed relating to this. The mobile app snap-to-go API segment is facing increasing competition from startups with more advanced technology, but offering a stable tried-and-tested product is more important for the larger ecommerce clients.

Machine Learning and Artificial Intelligence technologies have developed faster than ecommerce use cases leading to issues with explaining possibilities.

The leading ecommerce stores have started recruiting their own in-house  teams of ML and AI scientists to develop these technologies offering competition to the sector. However, with an increased understanding of technologies there will also be opportunities for Visual Search companies to sell their products and explain use cases.

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