Market Size – The virtual dressing rooms market size has grown rapidly in recent years. It will grow from $5.36 billion in 2023 to $6.09 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to consumer demand for convenience, COVID-19 pandemic, fashion industry pressure, smartphone penetration, improved internet connectivity, retailer adoption..
The virtual dressing rooms market size is expected to see rapid growth in the next few years. It will grow to $10.36 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to social media integration, growing adoption of mobile e-commerce, growing consumer online preferences, and growing adoption of smartphones. Major trends in the forecast period include Extended reality (XR) technologies, 3D scanning technologies, body scanning technology, virtual stylist assistance, expanded product range, inclusivity and diversity.
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Scope Of Virtual Dressing Rooms MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Virtual Dressing Rooms Market Overview
Market Drivers –The growing online shopping is expected to propel the growth of the virtual dressing room market going forward. Online shopping refers to the process of purchasing goods or services directly from a seller over the internet, without the need for an intermediary service. The growth of online shopping is due to several reasons, such as convenience, product selection, cost savings, technological advancements, price comparison, time- savings, personalization, easier returns and refunds, and reviews and recommendations. Virtual dressing rooms enhance the online shopping experience for customers, increase sales and customer satisfaction for e-commerce businesses, and contribute to a more sustainable and efficient retail industry. For instance, in February 2024, according to a report published by the Census Bureau, an US-based government, total e-commerce sales for 2023 were estimated at $1,118.7 billion, an increase of 7.6 percent (±1.2%) from 2022, and total retail sales in 2023 increased 2.1 percent (±0.4%) from 2022. Therefore, growing online shopping is driving the growth of the virtual dressing room market.
Market Trends – Major companies operating in the virtual dressing room market are focusing on developing advanced technology innovations to gain a competitive advantage. Virtual dressing rooms are an application of mixed reality technology that allows online shoppers to virtually try on clothing before making a purchase, improving the shopping experience and reducing waste. For instance, in September 2022, Walmart Inc., a US-based retailer company, launched a Be Your Own Model tool that allows customers to upload their own photos and see how clothing items would look on them, with the goal of improving the online shopping experience and driving higher sales. The Be Your Own Model feature uses computer vision and neural networks to analyze the catalog images of garments and create a realistic simulation of how the clothing would drape and fit on the customer’s own body.
The virtual dressing rooms market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Application: Apparel, Beauty And Cosmetic, Eyewear, Footwear, Other Applications
3) By End User: E-Commerce, Physical Stores
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Regional Insights – North America was the largest region in the virtual dressing rooms market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual dressing rooms market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies operating in the virtual dressing rooms market are Vitro S.A.B. de C.V., Reactive Reality AG, Finery, Visenze Pte. Ltd., ELSE Corp., Virtusize Co. Ltd., 3DLook Inc., Style.me, Fitle, Dressformer, Sizebay, AstraFit, Metail, Vue.ai, FXGear Inc., Fit Analytics GmbH, Coitor IT Tech Private Limited , True Fit Corp., Autonomous Retail Shopping Solutions, Zeekit Online Shopping Ltd., MemoMi Labs Inc., Zugara, Styliff Tech., Fision Technologies Inc., Fitnect Interactive Kft
Table of Contents 1. Executive Summary2. Virtual Dressing Rooms Market Report Structure3. Virtual Dressing Rooms Market Trends And Strategies4. Virtual Dressing Rooms Market – Macro Economic Scenario5. Virtual Dressing Rooms Market Size And Growth…..27. Virtual Dressing Rooms Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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