Global Generative AI in Fashion Market Report 2024

The generative AI in fashion market size has grown exponentially in recent years. It will grow from $0.09 billion in 2023 to $0.13 billion in 2024 at a compound annual growth rate (CAGR) of 37.7%. The growth observed during the historic period can be attributed to several factors, including the emergence of fashion tech startups, leveraging consumer insights and trend forecasting, cross-industry inspiration for innovation, and increasing concerns about sustainability within the fashion industry.

The generative AI in fashion market size is expected to see exponential growth in the next few years. It will grow to $0.47 billion in 2028 at a compound annual growth rate (CAGR) of 38.1%. The anticipated growth in the forecast period can be attributed to several factors, including the rising demand for hyper-personalized fashion experiences, the growing adoption of sustainability solutions in the industry, the increasing prevalence of on-demand manufacturing practices, and the heightened demand for generating representative fashion models. Key trends expected during this period include advancements in machine learning technologies, the proliferation of virtual try-on solutions, customization trends in fashion products, real-time trend analysis capabilities, the emergence of AI-generated influencer fashion content, and the integration of AI-powered styling tools into fashion platforms.

The burgeoning e-commerce industry is poised to drive the growth of generative AI in the fashion market. E-commerce involves the online buying and selling of goods or services, facilitated primarily through digital platforms or websites. The surge in the e-commerce sector is attributed to factors such as shopping convenience, evolving consumer preferences, the influence of social media and influencer marketing, and advancements in logistics. Generative AI in fashion enhances the e-commerce experience by offering unique, personalized, and trend-driven products, optimizing supply chains, promoting sustainability, and enhancing customer engagement, loyalty, and sales. For example, in February 2024, the United States Census Bureau reported that e-commerce sales in the United States for 2023 amounted to $1.11 trillion, representing a 7.6% increase from 2022. Consequently, the growing e-commerce industry is propelling the expansion of generative AI in the fashion market.

Key players in the generative AI in fashion market are focusing on technological innovations such as generative AI-driven platforms to automate the design process and create distinctive and customizable fashion concepts. A generative AI-driven platform for the apparel and fashion industry is a technological solution that utilizes artificial intelligence (AI) algorithms to generate and craft designs, patterns, and styles for clothing and accessories. For instance, in April 2024, Navan AI, a Singapore-based software company, introduced niia.ai, a generative AI-driven platform tailored for the apparel and fashion industry. Niia.ai operates on a subscription-as-a-service (SaaS) model FashionTech platform, empowering apparel designers and makers to efficiently create, visualize, and commercialize their designs. Leveraging the capabilities of generative AI, the platform delivers significant time and cost savings to apparel designers while fostering their creativity. It enables fashion and furnishing brands to generate prints, designs, and studio-quality product try-on images within seconds using generative AI technology.

In December 2021, Farfetch, an England-based e-commerce company, acquired Allure Systems for an undisclosed sum. This acquisition underscores Farfetch's commitment to enhancing its digital fashion assets and imagery capabilities by integrating Allure Systems' AI-driven technology. Allure Systems, a US-based generative A.I. company, specializes in creating striking fashion apparel images for eCommerce through its AI-driven technology, facilitating 360-degree renderings to streamline image quality at scale.

Major companies operating in the generative AI in fashion market are Amazon.com Inc., Alphabet Inc., Adobe Inc., Zalando SE, Farfetch Group Limited, Stitch Fix Inc., Myntra Designs Pvt. Ltd., Choosy, Vue.ai, True Fit Corporation, Mode.ai, Synflux AI Lab LLP, Heuritech SAS, Bigthinx Technologies Pvt. Ltd., Dressformer Technologies Inc., Intelistyle Ltd., Omnivor, RivetAI Inc., Streamoid Technologies, Style.me Technologies Limited, Revery Inc., Stylumia Intelligence Technology Pvt. Ltd., ZyseMe.

North America was the largest region in the generative AI in fashion market in 2023. The regions covered in the generative AI in fashion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the generative AI in fashion market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Generative AI in fashion entails leveraging advanced AI models and algorithms to elevate creativity, efficiency, personalization, and sustainability throughout the fashion industry value chain. These algorithms are typically trained on extensive datasets of existing fashion designs, enabling them to discern underlying patterns and styles and produce innovative outputs.

The primary components of generative AI in fashion consist of solutions and services. Generative AI in fashion solutions involve the application of artificial intelligence techniques, particularly generative models, to various facets of the fashion industry. These solutions can be deployed via cloud-based platforms or on-premises infrastructure, covering categories such as clothing, accessories, beauty, cosmetics, and others. They find utility across diverse applications including product recommendation, product search and discovery, supply chain management, demand forecasting, creative design and trend forecasting, customer relationship management, virtual assistants, among others. Additionally, these solutions cater to a range of end-users including fashion designers and fashion stores.

The generative AI in fashion market research report is one of a series of new reports that provides generative AI in fashion market statistics, including generative AI in fashion industry global market size, regional shares, competitors with a generative AI in fashion market share, detailed generative AI in fashion market segments, market trends and opportunities, and any further data you may need to thrive in the generative AI in fashion industry. This generative AI in fashion market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The generative AI in fashion consists of revenues earned by entities by providing services such as design generation, prototyping and iteration, fabric and material selection, supply chain optimization, and sustainability assessment. The market value includes the value of related goods sold by the service provider or included within the service offering. The generative AI in the fashion market also includes sales of products including creative inspiration platforms, sustainable fashion assessment tools, supply chain optimization software, and virtual try-on solutions. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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