Generative AI In Fashion Market Trends, Market Share, Size, Growth Status And Forecast To 2033

The new report published by The Business Research Company, titled Generative AI In Fashion Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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E-Commerce Fuels Growth Of Generative AI In Fashion
The rising e-commerce industry is expected to propel the growth of generative AI in the fashion market going forward. E-commerce refers to the buying and selling of goods or services over the internet, typically through online platforms or websites. The rise in the e-commerce industry is due to convenience in shopping, shifting consumer preferences, social media, influencer marketing, and improved logistics. Generative AI in fashion enriches e-commerce by providing unique, personalized, and trend-driven products, optimizing supply chains, promoting sustainability, and boosting customer engagement, loyalty, and sales. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, the United States e-commerce sales for 2023 were estimated at $1,118.7 billion, marking a 7.6% rise from 2022. Therefore, the rising e-commerce industry is driving the growth of generative AI in the fashion market.

Innovative Generative AI Platforms Revolutionizing Fashion Industry
Major companies operating in the generative AI in fashion market are focusing on technological advancements such as generative AI-driven platforms to automate the design process and create unique and customizable fashion concepts. A generative AI-driven platform for the apparel and fashion industry is a technological solution that leverages artificial intelligence (AI) algorithms to generate and create designs, patterns, and styles for clothing and accessories. For instance, in April 2024, Navan AI, a Singapore-based software company, launched niia.ai, a generative AI-driven platform designed to assist the apparel and fashion industry. Niia.ai is a subscription-as-a-service (SaaS) model FashionTech platform that enables apparel designers and makers to create, visualize, and commercialize their designs more efficiently. The platform leverages the power of generative AI to deliver significant time and cost savings to apparel designers while complementing 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.

The generative AI in fashion market covered in this report is segmented -

1) By Component: Solutions, Services
2) 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

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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

Contents of the report:
1. Executive Summary
2. Generative AI In Fashion Market Report Structure
3. Generative AI In Fashion Market Trends And Strategies
4. Generative AI In Fashion Market - Macro Economic Scenario
5. Generative AI In Fashion Market Size And Growth
…..
27. Generative AI In Fashion Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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