AI in Fashion Market Size, Share, and Industry Analysis, By Category (Apparel, Accessories, Footwear, Jewellery & Watches, Beauty & Cosmetics, and Others); By End-user (Fashion Designers, and Fashion Store); and Regional Forecast, 2024-2032

Artificial intelligence is transforming the fashion industry by optimizing the different aspects, from designing to retail. AI-based solutions help in trend analysis, personalized recommendations, supply chain management, and the creation of unique designs. AI-driven solutions have emerged as an innovative force in the fashion business to enhance customer experiences using virtual chatbots and try-on to develop an innovative fashion landscape. AI-powered tools create garment designs using data such as images from the brand's previous products and other designers, data about customer preferences (color and style choices), and current fashion trends. According to IBM, 52% of females of today’s generation want to try on tools that allow them to customize products for themselves.

The revolution of AI in the fashion industry enhanced the rend prediction, virtual try-on, and design processes, allowing fashion brands to stay relevant and meet consumer demand. In the fashion industry, aesthetics and consumer desire are the most important factors. While the growing demand for personalized fashion models is boosting sales, the reluctance of some brands to adopt new technology is hindering market growth.

During the COVID-19 pandemic, the digital commerce business has a big shot, rising from 35% to 55%, which has boosted the usage of digital devices among different generations. This factor has a huge impact on market growth and aims to generate the demand for the online presence of businesses. Thus, the market experienced a tremendous growth rate during the COVID-19 pandemic.

Impact of Generative AI

The global fashion industry is undergoing a major transformation with the advent of online shopping and e-commerce platforms, creating great opportunities for everyone.

Generative AI has had a significant impact on the fashion industry and revolutionized the design process by enabling the digital rendering of garments. It eliminates the need for physical photography by using augmented reality and virtual try-on technology to deliver a better customer experience with styling recommendations. This factor has boosted the demand for digital clothing, allowing consumers to experiment with their style without the need for physical production or distribution.

• According to industry experts, the technology could add USD 150 billion up to USD 275 billion value to the fashion, apparel, and luxury sector by using high-fidelity designs.

The integration of generative AI personalizes the online consumer journey by providing support of virtual assistants and conversational chatbots by providing remote access to reduce the need for physical interaction in stores and enhance the online shopping experience.

Key Insights

The report will cover the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by the Key Players


• Impact of Generative AI on the Global AI in Fashion Market


• Consolidated SWOT Analysis of Key Players

Segmentation

Analysis By End-user

Fashion designers are increasingly using AI for various tasks, which mainly include trend analysis, fabric selection, and design generation. The usage of AI streamlines the processes, enhances creativity, and enables designers to make data-driven decisions in predicting consumer preferences and optimizing supply chain performance. Moreover, fashion stores are using AI technology to help the sales assistant recommend and find the items without going through all the inventory, which saves time, helps deliver a better customer service experience, and increases the average basket value.

Regional Analysis

The global AI in fashion market has been studied across five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific. Increasing integration of social media platforms and rising investments by tech giants are key factors that boost the demand for the market across the globe. Rising digital transformation and growing integration of AI technology in the retail and e-commerce industry help to deliver personalized shopping experiences to customers by analyzing customer preferences. These factors are set to drive the market demand in the Asia Pacific region during the forecast period.

Distribution of the Global AI in Fashion Market, By Region

• North America – 33%


• South America – 7%


• Europe – 26%


• Middle East and Africa – 11%


• Asia Pacific – 23%

Key Players Covered

The report provides the profiles of key players such as 3DLOOK INC., Oracle Corporation, Microsoft Corporation, IBM Corporation, Amazon Web Services, Inc., Zalando SE, Lily AI, Vue ai, Huawei, Google Inc, and PTTRNS.ai.

Key Industry Developments

• September 2023: verce, a studio that generates virtual models in the fashion industry integrates with AI to develop high-quality visualizations of realistic virtual models.


• April 2023: Zalando, a European e-Commerce destination for fashion and lifestyle integrate with ChatGPT- powered virtual assistant to its online platform for fashion and lifestyle. This integration of generative AI capabilities with Zalando helps customers find and select items according to their needs and choices.