Global AI in fashion market is anticipated to grow at an exponential CAGR of 26.0% during the forecast period (2024-2031). AI is revolutionizing the fashion industry by offering a range of advanced tools and technologies. These include personalized product recommendations, visual search capabilities, virtual try-on solutions, demand forecasting, trend forecasting, supply chain optimization, customer service chatbots, and AI-assisted product design and development. These innovations are enhancing the shopping experience, improving efficiency, and driving sales in the fashion industry. Furthermore, the market has seen significant growth primarily owing to increased focus on R&D by both public and private organizations and growing applications.
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For instance,in July 2023, Ssense launched a generative-AI chatbot that integrates directly into ChatGPT, allowing users to ask styling and shopping questions. The chatbot uses OpenAI’s technology and proprietary AI models, providing responses with product links from the retailer’s catalogue.
Further, in November 2023,MEFLEX, launched the domain of Fashion AI NFTs, threatening the fashion industry’s creative expression. It opens up new creative and expressive options by introducing a platform where users can produce AI-driven fashion imagery.
Furthermore, in December 2023, Tommy Hilfiger launched Mobile AI Fashion Game in 2024 ‘FashionVerse’ utilized artificial intelligence to let players craft photorealistic avatars, settings and accessories in a community-based format.
Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered-
o By Components
o By Applications
o By Deployment Mode
o By Category
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape-Adidas AG, H&M, Heuritech, Nike, Inc., Hennes & Mauritz AB, Adobe, Inc., and Stitch Fix, Inc. and others.
Key questions addressed by the report.
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global AI in Fashion Market Report Segment
By Component
- Solution
- Software Tools
- Platforms
- Services
- Training and Consulting
- System Integration and Testing
- Support and Maintenance
By Applications
- Product Recommendation
- Product Search and Discovery
- Supply Chain Management and Demand Forecasting
- Creative Designing and Trend Forecasting
- Customer Relationship Management
- Virtual Assistants
- Others (Fraud detection, fabric waste reduction, and price optimization)
By Deployment Mode
- Cloud
- On-premises
By Category
- Apparel
- Accessories
- Footwear
- Beauty and Cosmetics
- Jewelry and Watches
- Others (Eyewear, Home Decor)
By End-User
- Fashion Designers
- Fashion Stores
A full report of Artificial Intelligence (AI) in Fashion Market available @ https://www.omrglobal.com/industry-reports/ai-in-fashion-market
Company Profiles
- AWS
- Catchoom
- FindMine
- Google LLC
- Heuritech
- HuaweiTechnologies Co., Ltd.
- IBM Corp.
- Intelistyle
- Lily AI
- Loomia
- Mad Street Den Inc.
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- We cover more than 15 major industries, further segmented into more than 90 sectors.
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