Overview and Scope
A virtual fitting room refers to a digital platform or application that allows users to try on clothing and accessories virtually. It typically uses augmented reality (AR) or virtual reality (VR) technology to superimpose digital representations of clothing items onto the user’s body in real-time, often using a webcam or smartphone camera.
Sizing and Forecast
The virtual fitting room market size has grown exponentially in recent years. It will grow from $5.13 billion in 2023 to $6.30 billion in 2024 at a compound annual growth rate (CAGR) of 22.9%. The growth in the historic period can be attributed to rise of e-commerce, reducing returns, enhancing brand engagement, omnichannel retail.
The virtual fitting room market size is expected to see exponential growth in the next few years. It will grow to $14.18 billion in 2028 at a compound annual growth rate (CAGR) of 22.5%. The growth in the forecast period can be attributed to consumer preferences for personalization, shift towards sustainability, regulatory environment, mobile shopping trends. Major trends in the forecast period include virtual wardrobe management, mobile-friendly experiences, integration with social media platforms, enhanced analytics and insights.
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Segmentation & Regional Insights
The virtual fitting room market covered in this report is segmented –
1) By Type: In-Store Virtual Mirrors, App-Based Body Scanners, Sizing Surveys Backed By 3d Body Data
2) By Component: Hardware, Software, Services
3) By Application: Apparel, Eyewear, Cosmetic And Beauty Products, Jewelry And Watches, Other Applications
4) By End User: Brick And Mortar Stores, Virtual/E-Commerce Stores
North America was the largest region in the virtual fitting room Market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual fitting room market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rapid expansion of e-commerce is expected to propel the growth of the virtual fitting room market going forward. E-commerce refers to the buying and selling of goods and services conducted over the internet or other electronic networks. The demand for e-commerce arises due to convenience, accessibility, changing consumer behavior, and evolving business strategies. E-commerce leverages virtual fitting rooms to reduce returns, enhance customer confidence, and improve conversion rates by enabling shoppers to try on clothing virtually before purchasing. For instance, in November 2023, according to the United States Census Bureau, a US-based government agency, e-commerce increased and reached the 3rd quarter of 2023 at 7.6%, compared to the 4th quarter of 2022 by 6.9%. 15.4% of all sales in the second quarter of 2023 were made through online stores. Therefore, the rapid expansion of e-commerce is driving the growth of the virtual fitting room market.
Key Industry Players
Major companies operating in the virtual fitting room market are Zoovu GmbH, Total Immersion S.A., Fashion Fusion AG, Vue.ai Technologies Inc., WearWell Technologies Inc., True Fit Corporation, Visenze Pte. Ltd., Swivel Technologies Inc., 3DLook LLC, Fit Analytics GmbH, NexTech AR Solutions Corp., Tailor Store Sweden AB, My Size Inc., Reactive Reality AG, Virtusize AB, Fision Technologies Inc., Size Stream LLC, Zugara Inc., Trimirror Inc., StyleSpot Inc., Omnify Inc., StyleSage Inc., Coitor IT Tech Pvt. Ltd., Perfitly Inc., Metail
The virtual fitting room market report table of contents includes:
1. Executive Summary
2. Virtual Fitting Room Market Characteristics
3. Virtual Fitting Room Market Trends And Strategies
4. Virtual Fitting Room Market – Macro Economic Scenario
5. Global Virtual Fitting Room Market Size and Growth
………………..
32. Global Virtual Fitting Room Market Competitive Benchmarking
33. Global Virtual Fitting Room Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Virtual Fitting Room Market
35. Virtual Fitting Room Market Future Outlook and Potential Analysis
36. Appendix
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