Global Generative AI in Fashion Market By Component (Solutions and Services), By Application (Product Recommendation, Product Search & Discovery, and Other Applications), By Deployment Mode, By Category, By End User, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: March 2024
- Report ID: 98875
- Number of Pages: 319
- Format:
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Report Overview
The Global Generative AI in Fashion Market size is expected to be worth around USD 1,481 Million by 2032, from USD 95 Million in 2023, growing at a CAGR of 36.9% during the forecast period from 2024 to 2033.
Generative AI in fashion refers to the application of artificial intelligence techniques, particularly generative models, in the field of fashion design, creation, and innovation. Generative AI utilizes algorithms and machine learning to generate new and unique designs, patterns, and styles, empowering designers and brands to explore novel creative possibilities. By leveraging large datasets and learning patterns from existing fashion collections, generative AI can generate new designs, offer style recommendations, and assist in the design process.
The generative AI in fashion market is experiencing significant growth and interest from both fashion industry players and technology enthusiasts. The integration of AI in fashion opens up exciting opportunities for designers to streamline their creative process, discover fresh inspirations, and reduce time-to-market. It enables the exploration of unique design variations, customization options, and the creation of personalized fashion experiences for consumers.
In the rapidly evolving fashion industry, generative AI is set to mark a significant shift in how brands approach design and production. By 2024, it is estimated that over 60% of fashion brands and retailers will have embraced generative AI for at least one element of their design or production processes, according to the Fashion Innovation Alliance.
This integration of technology is expected to revolutionize the creation of digital fashion samples and virtual prototypes, with a projected increase of 50% in adoption among fashion houses from 2022 to 2024, as reported by Levi Strauss & Co.
Furthermore, the Parsons School of Design highlights that approximately 55% of fashion designers are planning to integrate generative AI tools into their workflow for ideation, trend forecasting, and design exploration by the end of 2024. This adoption underscores the potential of AI in enhancing creativity and efficiency within the fashion design process.
The transformation extends to fashion e-commerce platforms, where over 65% are anticipated to offer AI-generated personalized product recommendations and virtual try-on experiences by 2024, Zalando reports. This shift not only aims to personalize the shopping experience but also to streamline the consumer’s journey, making it more interactive and responsive to individual preferences.
Key Takeaways
- The Generative AI in Fashion Market is poised to reach a staggering USD 1,481 million by 2032, exhibiting an impressive CAGR of 36.9% from its 2022 value of USD 69 million.
- North America accounted for a significant share of global generative AI in the fashion market revenue share of 42%
- The use of generative AI for making custom clothing patterns and fitted apparel is expected to increase by 45% among fashion brands from 2022 to 2024.
- By 2024, more than 60% of fashion brands plan to use generative AI for designing textiles, prints, and patterns.
- About 50% of fashion retailers aim to integrate generative AI for enhancing product tagging, attribution, and visual search features by the end of 2024.
- It’s estimated that over 70% of fashion brands will use generative AI to create personalized marketing materials, product descriptions, and social media content by 2024.
- The adoption of generative AI for virtual clothing fitting and size recommendations is projected to rise by 40% among fashion e-commerce platforms between 2022 and 2024.
- Over 55% of fashion brands are expected to employ generative AI for better inventory management and demand prediction by 2024.
- Approximately 45% of fashion designers plan to use generative AI to develop digital fashion items and virtual outfits for the metaverse and gaming by the end of 2024.
- By 2024, over 65% of fashion brands are anticipated to utilize generative AI for automated photo editing, retouching, and the creation of creative assets.
- The use of generative AI in developing sustainable materials and for upcycling efforts is expected to grow by 35% among fashion companies from 2022 to 2024
By Application Analysis
The segment supply chain management is expected to grow the fastest during the forecast period 2023-2032.
By application analysis, the global generative AI in the fashion market is segmented into supply chain management & demand forecasting, product recommendation, creative designing & trend forecasting, virtual assistants, product search & discovery, customer relationship management, and other applications.
The segment of supply chain management & demand forecasting is expected to grow the fastest during the forecast period 2023-2032. By using AI technology, it is possible to predict future sales and product performances. The fashion businesses can make more deliberate decisions about what & when to make and deliver. This reduces unnecessary waste, improves consumer satisfaction, and increases the market value of Generative AI.
By Deployment Analysis
The Cloud Segment Holding the Largest Market Share in 2022
The cloud segment is expected to have the highest CAGR over the forecast period. The use of generative AI with cloud-based 3D imaging technology is growing due to its advantages, such as simple and effective management, picture data maintenance, flexible nature, low cost-effectiveness, and scalability. The on-premises segment anticipates a one-use license purchase, a global internal network that can be performed anytime, and data is stored generally with high security.
Note: Actual Numbers Might Vary In The Final Report
By Category Analysis
The Segment of Clothing is Expected to Grow the Fastest During the Forecast Period 2023-2032.
By category analysis, the global generative AI in the fashion market is segmented into clothing, accessories, beauty & cosmetics, and others. The segment of clothing is expected to grow the fastest during the forecast period 2023-2032.
Virtual try-on in the Generative AI is used to create virtual representations of different fashion products that are superimposed onto actual images of people, helping customers to “try on” outfits virtually. The AI models can be personalized to differentiate a large range of body types, skin colors, and sizes, making it an easy way for customers to see how exactly the outfits would look overall on them.
By End-User Analysis
The Fashion Stores Segment Will Account for a Significant Share of the Fashion
By end-user analysis, the market is divided into fashion designers & fashion stores. A high percentage of generative AI is used in fashion stores. Basically, the upcoming and leading fashion designers flaunt their idea to the customers in their personalized way. This generative AI makes the easiest way for the designers to showcase different ideas in the frame.
Key Market Segments
By Component
- Solutions
- Services
By Application
- Product Recommendation
- Product Search and Discovery
- Supply Chain Management and Demand Forecasting
- Creative Designing & Trend Forecasting
- Customer Relationship Management
- Virtual Assistants
- Others (Fraud Detection, Fabric Waste Reduction, and Price Optimization)
By Deployment Mode
- Cloud
- On-premises
By Category
- Clothing
- Accessories
- Beauty & Cosmetics
- Others
By End User
- Fashion Designers
- Fashion Stores
Drivers
Rise in Demand for Generating Representative Fashion Models Providing Personalizing Results Experience
Generative AI helps to create a variety of 3D fashion models which can help major fashion companies to serve a large range of requirements of customers and focus their products in a more antique and required way. A Cambridge University research stated that when leading a soap and solutions company, Dove in their advertising video showcased different women with various skin tones and different body types,. This directly increased their sales by 600% within two months. Hence like this, it can be used to create a variety of fashion models in a number of ways.
Restraints
High Interest in Current Fashion Trends
The denial of the use of the simple market methods is mainly due to some of the old methods’ inconvenience in lining up with the upcoming technological novel innovations, due to showing issues with converting the old systems with the new ones. The minimum utilization of new technology by these prominent companies and some other major brands has lowered their output and audience. Due to this, the traditional old method systems have restrained the global generative AI in fashion market growth.
By Component Analysis
The Segment Solution Hold a Largest Market Share throughout the Forecast Period (2023-2032)
The global generative AI in the fashion market is segmented on the basis of components such as solutions and services. In 2022, the solutions segment accounted for the highest share. The solution segment dominated the services segment and may further show higher growth during the forecast year due to an increased rate of acceptance.
Fashion individuals are rapidly moving to novel technologies that can make a platform for their business criteria and help to gain new customers. Additionally, analyzing recent trends through different social media pages and gathering the customer’s essential requirements has become more difficult for fashion organizations. Hence, fashion organizations and brands are rapidly using AI-based products, platforms, and other software tools.
Opportunity
Rising Marketing & Trend Analysis for Fashion Brands
AI generative models help companies to boost and improve their novel product forecasting and marketing capabilities. Due to this, top companies stay ahead in the market while getting the consumer’s future needs more precisely.
Generative AI helps in creating various opportunities by bringing a variety of techniques, like machine learning and realistic programming. These techniques help in creating generative models that help to bring customer desires to the fashion market by generating novel personalized outfits for specific customers’ desires that as beyond traditional methods and consumer demand.
Regional Analysis
North America accounted for a significant share of global generative AI in the fashion market revenue share of 42%, due to the presence of the major key players, such as Oracle, IBM, Facebook, Google, Microsoft Corporation AWS, Adobe, Vue.AI, Lily AI, Mode.AI, Stitch Fix, Findmine, and others. However, the rapid growth of social media and e-commerce and many fashion enterprises have also boosted the market’s growth.
The Asia-Pacific is anticipated to be the second-largest market during the forecast period due to the presence of prominent and larger design organizations and investment in novel marketing strategies. Increasing fashion needs in the entertainment industry are the major factor propelling the growth of the Asia- pacific region. The rising need for communicating with the target audience designs that business purpose to survive in the market.
Note: Actual Numbers Might Vary In The Final Report
Key Regions and Countries Covered in this Report:
- North America
- The US
- Canada
- Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia
- Netherland
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia
- New Zealand
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
Key Players Analysis
The generative AI fashion market is highly competitive, with several key players vying for a larger share of the market. To stay ahead of the competition and maintain their position, these companies often utilize different strategies, such as collaborations, mergers and acquisitions, and partnerships.
Market Key Players
Listed below are some of the most prominent global generative AI in the fashion market’s key players.
- Microsoft Corporation
- Adobe Inc.
- IBM Corporation
- Catchoom Technologies SL.
- Huawei Technologies Co., Ltd.
- Facebook, Inc.
- SAP SE
- Amazon Web Services, Inc.
- Google LLC
- Oracle Corporation
- Other Key Players.
Recent Developments
- In 2023, Microsoft announced enhancements in generative AI through its Cloud for Retail, enabling personalized shopping experiences using copilot templates. This innovation allows for more natural interactions between customers and online shopping platforms, akin to having a personal shopper.
- August 2023: Designovel, a generative AI company, acquired the struggling fashion brand Dali Hotel. Designovel then used its AI to analyze trends and design clothes, leading to a major sales revival for Dali Hotel
Report Scope
Report Features Description Market Value (2023) USD 95 Mn Forecast Revenue (2032) USD 1,481 Mn CAGR (2023-2032) 36.9% Base Year for Estimation 2023 Historic Period 2018-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Component (Solutions and Services); By Application (Product Recommendation, Product Search & Discovery, Supply Chain Management & Demand Forecasting, Creative Designing & Trend Forecasting, Customer Relationship Management, Virtual Assistants, and Other Applications (Fraud detection, fabric waste reduction, and price optimization)); By Deployment Mode (Cloud and On-premises); By Category (Clothing, Accessories, Beauty & Cosmetics, and Others); By End User (Fashion Designers and Fashion Stores). Regional Analysis North America – The U.S. & Canada; Europe – Germany, France, The UK, Spain, Italy, Russia, Netherlands & Rest of Europe; APAC- China, Japan, South Korea, India, Australia, New Zealand, Singapore, Thailand, Vietnam & Rest of APAC; Latin America- Brazil, Mexico & Rest of Latin America; Middle East & Africa- South Africa, Saudi Arabia, UAE & Rest of MEA Competitive Landscape Microsoft Corporation, Adobe Inc., IBM Corporation, Catchoom Technologies SL, Huawei Technologies Co., Ltd., Facebook, Inc., SAP SE, Amazon Web Services, Inc., Google LLC, Oracle Corporation, Other Key Players. Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the estimated CAGR of the global generative AI in the fashion market between 2023 and 2032?The estimated CAGR of the global generative AI in the fashion market between 2023 and 2032 is 36.9%.
What will be the valuation of the global generative AI in the fashion market by 2032?The global generative AI in the fashion market is estimated to reach a valuation of USD 1,481 Mn by 2032.
What are the benefits of generative AI in the fashion industry?Generative AI can enhance customer satisfaction, adapt to online retailers, expand and personalize antique fashion designs, and create AI-generated models.
Which segment of the global generative AI in the fashion market is expected to grow the fastest during the forecast period?The segment of supply chain management & demand forecasting is expected to grow the fastest during the forecast period.
Which region dominated the Generative AI in Fashion Industry?North America dominated the Generative AI in Fashion Industry with a total market share of over 42%.
How do AI generative models help fashion companies?AI generative models help fashion companies to boost and improve their novel product forecasting and marketing capabilities.
Generative AI in Fashion MarketPublished date: March 2024add_shopping_cartBuy Now get_appDownload Sample - Microsoft Corporation Company Profile
- Adobe Inc.
- IBM Corporation
- Catchoom Technologies SL.
- Huawei Technologies Co., Ltd.
- Facebook, Inc.
- SAP SE Company Profile
- Amazon Web Services, Inc.
- Google LLC
- Oracle Corporation
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