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.
This product will be delivered within 3-5 business days.
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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Generative AI in Fashion Market Characteristics3. Generative AI in Fashion Market Trends and Strategies32. Global Generative AI in Fashion Market Competitive Benchmarking33. Global Generative AI in Fashion Market Competitive Dashboard34. Key Mergers and Acquisitions in the Generative AI in Fashion Market
4. Generative AI in Fashion Market - Macro Economic Scenario
5. Global Generative AI in Fashion Market Size and Growth
6. Generative AI in Fashion Market Segmentation
7. Generative AI in Fashion Market Regional and Country Analysis
8. Asia-Pacific Generative AI in Fashion Market
9. China Generative AI in Fashion Market
10. India Generative AI in Fashion Market
11. Japan Generative AI in Fashion Market
12. Australia Generative AI in Fashion Market
13. Indonesia Generative AI in Fashion Market
14. South Korea Generative AI in Fashion Market
15. Western Europe Generative AI in Fashion Market
16. UK Generative AI in Fashion Market
17. Germany Generative AI in Fashion Market
18. France Generative AI in Fashion Market
19. Italy Generative AI in Fashion Market
20. Spain Generative AI in Fashion Market
21. Eastern Europe Generative AI in Fashion Market
22. Russia Generative AI in Fashion Market
23. North America Generative AI in Fashion Market
24. USA Generative AI in Fashion Market
25. Canada Generative AI in Fashion Market
26. South America Generative AI in Fashion Market
27. Brazil Generative AI in Fashion Market
28. Middle East Generative AI in Fashion Market
29. Africa Generative AI in Fashion Market
30. Generative AI in Fashion Market Competitive Landscape and Company Profiles
31. Generative AI in Fashion Market Other Major and Innovative Companies
35. Generative AI in Fashion Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Generative AI In Fashion Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on generative AI in fashion market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for generative AI in fashion? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The generative AI in fashion market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Component: Solutions; Services2) By Deployment Mode: Cloud; On-premises
3) By Category: Clothing; Accessories; Beauty And Cosmetics; Other Categories
4) By Application: Product Recommendation; Product Search and Discovery; Supply Chain Management and Demand Forecasting; Creative Designing & Trend Forecasting; Customer Relationship Management; Virtual Assistants; Other Applications
5) By End User: Fashion Designers; Fashion Stores
Key Companies Mentioned: Amazon.com Inc.; Alphabet Inc.; Adobe Inc.; Zalando SE; Farfetch Group Limited
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | July 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 0.13 Billion |
Forecasted Market Value ( USD | $ 0.47 Billion |
Compound Annual Growth Rate | 38.1% |
Regions Covered | Global |