AI in Fashion Market Size

AI in Fashion Market size was valued at USD 1.6 billion in 2023 and is expected to reach USD 91 billion by the end of 2036, registering around 40% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of AI in fashion is assessed at USD 3 Billion.

Over the years, the fashion industry has witnessed significant growth due to globalization, the rapidly expanding online sector, and the adoption of advanced technologies like artificial intelligence (AI). AI solutions are widely used in the fashion industry to improve the customer experience by understanding their behavior, purchasing patterns, and preferences. This information helps in tailoring marketing strategies, and product offerings to align with the customer experience.

 In May 2024, Oracle Corporation announced the new generative AI capabilities of Oracle Fusion Cloud Applications Suite to help consumers improve decision-making, and enhance their experience. The latest addition AI is embedded in existing business workflows across HR, sales, supply chain, marketing that enables organizations to focus on meaningful tasks to engage buyers and accelerate purchase decisions in a more precise manner through automating repetitive processes.