The virtual fitting room global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Virtual Fitting Room Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of Virtual Fitting Room Market
The 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 Fitting Room Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the mobile virtual fitting market are concentrating on innovative advancements such as virtual fitting room pilot to provide an immersive shopping experience and the increasing demand for accurate size and fit recommendations. This is a technology that allows customers to try on clothes virtually without physically touching or buying them. It leverages the power of technology to enable shoppers to see the size, style, and fit of items. For instance, in April 2023, Zalando SE, a Germany-based online retail company, introduced a virtual fitting room pilot to reduce return rates, provide intelligent data management, and offer a more personalized and convenient shopping experience. allowing customers to create a 3D avatar and virtually try on clothing items, particularly jeans, which are often challenging to find the right size for due to the lack of sizing standards. It offers several key features, including the ability for customers to create a 3D avatar by entering their height, weight, and gender. This avatar can then be used to try on different sizes of jeans from various brands, with a heatmap indicating whether the item sits tight or loose. Additionally, it enhances the shopping experience, particularly for challenging items like jeans, reduces returns, and also provides valuable data for retailers to improve their product offerings and inventory management.
The aerospace support and auxiliary equipment market covered in this report is segmented –
1) By Type: Commercial Radars, Satellites
2) By Ownership: Public, Private
3) By Platform: Airborne, Land, Naval, Space
Subsegments Covered: Continuous Waveform, Pulse Waveform, Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite
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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.
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
Table of Contents
1. Executive Summary
2. Virtual Fitting Room Market Report Structure
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
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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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