The global artificial intelligence (AI) in fashion market revenue was around US$ 1.2 billion in 2022 and is estimated to reach US$ 21.6 billion by 2031, growing at a compound annual growth rate (CAGR) of 37.9% during the forecast period from 2023 to 2031.
AI-in fashion refers to an advisor that is utilized to suggest clothes based on the customer’s weight, height, shape, and current size. AI in fashion is used in product recommendation, product discovery and search, demand planning, supply chain management, trend forecasting creative designing, customer relationship management, virtual assistant, and others.
Market Driving Factors
The increasing customer demand for personalized experiences has driven the utilization of artificial intelligence in the fashion market. The tremendous use of e-commerce sites for shopping for footwear, apparel, beauty cosmetics, watches and jewelry, and other accessories has supported the market. For instance, Adobe stated that 67% of respondents expressed that brands must change content depending on the present context automatically. This would assist them in choosing the appropriate product in less time.
The surge in social media influence on the fashion industry propelled the market. The increase in social media utilization has led to raised social media accounts and many youngsters' broad reach. There are 4.8 billion social media users globally representing 59.9% of the global population and 92.7% of all internet users. There were 150 million new social media users between April 2022 and April 2023 which is a 3.2% growth year-over-year. A large number of readily available audiences have supported the fashion industry. Some of the advantages of social media for this industry comprise beneficial interactions, more comfortable shopping habits, expanded implementation of recommendations, and enhanced accessibility.
The presence of the legacy systems has limited the market growth.
Regional Analysis
North America dominates the market. This is due to the presence of the primary key players such as IBM, Facebook, Adobe, Vue.AI, Mode.AI, and Stitch Fix. In addition, the huge growth of e-commerce, social media, and many software enterprises has also driven the market. According to the Mobile Economy statement released by the GSM Organization, the United States had the largest number of smartphone users in 2019 which is 83%, and the figure is projected to hit 91% by 2025. Therefore, the surge in penetration of cutting-edge technologies fuels the market growth in the region.
Segmentation Insights
Component Insight
The solution segment dominates the market. This is due to a higher rate of adoption. Fashion retailers are increasingly moving towards cutting-edge technologies that can streamline their business processes and assist in acquiring new customers. Moreover, determining current trends through several social media platforms and catering to the customer’s every requirement has become difficult for organizations. Therefore, fashion brands and retailers are progressively adopting AI-based solutions, including software and platform tools such as APIs, SDKs, and ML models.
Deployment Mode Insight
The cloud segment dominates the market. This is due to the adaptability and flexibility offered by cloud computing for the fashion industry. Furthermore, increasing digital transformation has surged the demand for technologically cutting-edge technology and software across all sectors. According to a report by Salesforce, 91% of businesses decided that cloud storage would make it much easier to adhere to government regulations and rules and the increasing tendency of cloud providers to offer cost-effective and efficiently handled applications to the service and information industry has driven the market expansion.
Prominent Companies
Segmentation Outline
The global artificial intelligence (AI) in fashion market segmentation focuses on Component, Application, Deployment Mode, Category, End-User, and Region.
By Component
By Application
By Deployment Mode
By Category
By End-User
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN FASHION MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: ARTIFICIAL INTELLIGENCE (AI) IN FASHION MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN FASHION MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN FASHION MARKET, BY COMPONENT
5.1 OVERVIEW
5.2 SOLUTION
5.2.1 SOFTWARE TOOLS
5.2.2 PLATFORMS
5.3 SERVICES
5.3.1 TRAINING AND CONSULTING
5.3.2 SYSTEM INTEGRATION AND TESTING
5.3.3 SUPPORT AND MAINTENANCE
6 GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN FASHION MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 PRODUCT RECOMMENDATION
6.3 PRODUCT SEARCH AND DISCOVERY
6.4 SUPPLY CHAIN MANAGEMENT AND DEMAND FORECASTING
6.5 CREATIVE DESIGNING AND TREND FORECASTING
6.6 CUSTOMER RELATIONSHIP MANAGEMENT
6.7 VIRTUAL ASSISTANTS
6.8 OTHERS
7 GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN FASHION MARKET, BY DEPLOYMENT MODE
7.1 OVERVIEW
7.2 CLOUD
7.3 ON-PREMISES
8 GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN FASHION MARKET, BY CATEGORY
8.1 OVERVIEW
8.2 APPAREL
8.3 ACCESSORIES
8.4 FOOTWEAR
8.5 BEAUTY AND COSMETICS
8.6 JEWELRY AND WATCHES
8.7 OTHERS
9 GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN FASHION MARKET, BY END-USER
9.1 OVERVIEW
9.2 FASHION DESIGNERS
9.3 FASHION STORES
10 GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN FASHION MARKET, BY GEOGRAPHY
10.1 OVERVIEW
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA MARKET SNAPSHOT
10.2.2 U.S.
10.2.3 CANADA
10.2.4 MEXICO
10.3 EUROPE
10.3.1 EUROPE MARKET SNAPSHOT
10.3.2 WESTERN EUROPE
10.3.2.1 THE UK
10.3.2.2 GERMANY
10.3.2.3 FRANCE
10.3.2.4 ITALY
10.3.2.5 SPAIN
10.3.2.6 REST OF WESTERN EUROPE
10.3.3 EASTERN EUROPE
10.3.3.1 POLAND
10.3.3.2 RUSSIA
10.3.3.3 REST OF EASTERN EUROPE
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC MARKET SNAPSHOT
10.4.2 CHINA
10.4.3 JAPAN
10.4.4 INDIA
10.4.5 AUSTRALIA & NEW ZEALAND
10.4.6 ASEAN
10.4.7 REST OF ASIA PACIFIC
10.5 MIDDLE EAST & AFRICA
10.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
10.5.2 UAE
10.5.3 SAUDI ARABIA
10.5.4 SOUTH AFRICA
10.5.5 REST OF MEA
10.6 SOUTH AMERICA
10.6.1 SOUTH AMERICA MARKET SNAPSHOT
10.6.2 BRAZIL
10.6.3 ARGENTINA
10.6.4 REST OF SOUTH AMERICA
11 GLOBAL ARTIFICIAL INTELLIGENCE (AI) IN FASHION MARKET COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 COMPANY MARKET RANKING
11.3 KEY DEVELOPMENT STRATEGIES
11.4 COMPETITIVE DASHBOARD
11.5 PRODUCT MAPPING
11.6 TOP PLAYER POSITIONING, 2022
11.7 COMPETITIVE HEATMAP
11.8 TOP WINNING STRATEGIES
12 COMPANY PROFILES
12.1 ADOBE
12.1.1 OVERVIEW
12.1.2 FINANCIAL PERFORMANCE
12.1.3 PRODUCT OUTLOOK
12.1.4 KEY DEVELOPMENTS
12.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.2 AWS
12.2.1 OVERVIEW
12.2.2 FINANCIAL PERFORMANCE
12.2.3 PRODUCT OUTLOOK
12.2.4 KEY DEVELOPMENTS
12.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.3 CATCHOOM
12.3.1 OVERVIEW
12.3.2 FINANCIAL PERFORMANCE
12.3.3 PRODUCT OUTLOOK
12.3.4 KEY DEVELOPMENTS
12.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.4 FACEBOOK
12.4.1 OVERVIEW
12.4.2 FINANCIAL PERFORMANCE
12.4.3 PRODUCT OUTLOOK
12.4.4 KEY DEVELOPMENTS
12.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.5 FINDMINE
12.5.1 OVERVIEW
12.5.2 FINANCIAL PERFORMANCE
12.5.3 PRODUCT OUTLOOK
12.5.4 KEY DEVELOPMENTS
12.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.6 GOOGLE
12.6.1 OVERVIEW
12.6.2 FINANCIAL PERFORMANCE
12.6.3 PRODUCT OUTLOOK
12.6.4 KEY DEVELOPMENTS
12.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.7 HEURITECH
12.7.1 OVERVIEW
12.7.2 FINANCIAL PERFORMANCE
12.7.3 PRODUCT OUTLOOK
12.7.4 KEY DEVELOPMENTS
12.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.8. HUAWEI
12.8.1 OVERVIEW
12.8.2 FINANCIAL PERFORMANCE
12.8.3 PRODUCT OUTLOOK
12.8.4 KEY DEVELOPMENTS
12.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.9 IBM
12.9.1 OVERVIEW
12.9.2 FINANCIAL PERFORMANCE
12.9.3 PRODUCT OUTLOOK
12.9.4 KEY DEVELOPMENTS
12.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.10 INTELISTYLE
12.10.1 OVERVIEW
12.10.2 FINANCIAL PERFORMANCE
12.10.3 PRODUCT OUTLOOK
12.10.4 KEY DEVELOPMENTS
12.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.11 LILY AI
12.11.1 OVERVIEW
12.11.2 FINANCIAL PERFORMANCE
12.11.3 PRODUCT OUTLOOK
12.11.4 KEY DEVELOPMENTS
12.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.12 MICROSOFT
12.12.1 OVERVIEW
12.12.2 FINANCIAL PERFORMANCE
12.12.3 PRODUCT OUTLOOK
12.12.4 KEY DEVELOPMENTS
12.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.13 MODE.AI
12.13.1 OVERVIEW
12.13.2 FINANCIAL PERFORMANCE
12.13.3 PRODUCT OUTLOOK
12.13.4 KEY DEVELOPMENTS
12.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.14 ORACLE
12.14.1 OVERVIEW
12.14.2 FINANCIAL PERFORMANCE
12.14.3 PRODUCT OUTLOOK
12.14.4 KEY DEVELOPMENTS
12.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.15 PTTRNS.AI
12.15.1 OVERVIEW
12.15.2 FINANCIAL PERFORMANCE
12.15.3 PRODUCT OUTLOOK
12.15.4 KEY DEVELOPMENTS
12.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.16 SAP
12.16.1 OVERVIEW
12.16.2 FINANCIAL PERFORMANCE
12.16.3 PRODUCT OUTLOOK
12.16.4 KEY DEVELOPMENTS
12.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.17 STITCH FIX
12.17.1 OVERVIEW
12.17.2 FINANCIAL PERFORMANCE
12.17.3 PRODUCT OUTLOOK
12.17.4 KEY DEVELOPMENTS
12.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.18 SYTE
12.18.1 OVERVIEW
12.18.2 FINANCIAL PERFORMANCE
12.18.3 PRODUCT OUTLOOK
12.18.4 KEY DEVELOPMENTS
12.18.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.19 VUE.AI
12.19.1 OVERVIEW
12.19.2 FINANCIAL PERFORMANCE
12.19.3 PRODUCT OUTLOOK
12.19.4 KEY DEVELOPMENTS
12.19.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.20 WIDE EYES
12.20.1 OVERVIEW
12.20.2 FINANCIAL PERFORMANCE
12.20.3 PRODUCT OUTLOOK
12.20.4 KEY DEVELOPMENTS
12.20.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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