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Virtual Fitting Room Market By Component (Hardware, Software, Service), By Application (Apparel, Beauty & Cosmetics, Eye Wear, Jewelry & Watches, Others), By End-Use (Online, Offline) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027

Increasing Demand Among the Enterprises to Provide Personalized Shopping Experience is Driving the Growth of Virtual Fitting Room Market

Globally, the virtual fitting room market is expected to grow with a CAGR of 20.5% during the forecast period from 2019 to 2027. The market is driven by the increasing focus of retailers on providing personalized shopping experience to the customers. As the competition among the online and offline retailer are increasing and business models are changing, the companies started to focus more on enhancing customer experience. To address these challenges, retailers are shifting towards more advance and digital technologies to provide personalized shopping experience to the customers Retailers are adopting rich 3D graphic content to engage customer in a more efficient manner and provide immersive shopping experience. 

The growing trend of online shopping across the globe is also acting as a major factor driving the growth of the market. Moreover, the increasing collaboration activities among the technology solution providers and retailers are also encouraging the market growth. However, complexities in providing real time experience to the customers are acting as a major restraint in the growth of the market. Additionally, the need to develop more user friendly platform for customers has also emerged as one of the most significant challenges in the market. 

Market Synopsis

Virtual Fitting Room Market 

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Eyewear is Estimated to Grow Significantly During the Forecast Period  

The virtual fitting room market is characterized based on the application into the apparels, accessories, eye wear, jewelries and watch, cosmetics, and others. Apparels market accounted for more than 30% share of the overall revenue generated in 2018. The growth of the market is driven by the large scale shopping of apparels on online stores. On the other hand, eye wear is estimated to grow significantly during the forecast period due to increasing integration of virtual fitting room across the domain.  

Virtual Fitting Room Market

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North America is Leading the Virtual fitting room Market                             

North America held more than 42% share in the virtual fitting room market in 2018. The growth of the market is driven by the increasing e-commerce market in the region. U.S. is one of the largest e-commerce markets across the globe with high number of online shoppers. Furthermore, high number of smartphone users and internet users in the region also foster the growth of the market. Additionally, increasing venture capital investment in the tech startups in the region is also backing the growth of the market.

Virtual Fitting Room Market

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The key players in the virtual fitting room market are 3D-A-PORTER, AstraFit, Coitor IT Tech, ELSE Corp, Fision Technologies, Fit Analytics, FXGear, Magic Mirror, MemoMi, Metail, SenseMi, Sizebay, Total Immersion, triMirror, True Fit, Visualook, and Zugara. 

Virtual Fitting Room Market

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027

Report Scope by Segments

The virtual fitting room market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global virtual fitting room market based on component, end-use, application and geography. Key segments covered in the report are as follows:

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion
Segmentation

 Component Segment (2017–2027; US$ Bn)
 • Hardware
       o Prefabricated
       o Customized
 • Software
 • Services

 Application Segment (2017–2027; US$ Bn)
 • Apparel
 • Beauty & Cosmetics
 • Eye Wear
 • Jewelry & Watches
 • Others

 End-Use Segment (2017–2027; US$ Bn)
 • Online
 • Offline

 Geography Segment (2017–2027; US$ Bn)
 • North America (U.S. and Rest of North America)
 • Europe (U.K., Germany, France, and Rest of Europe)
 • Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
 • Rest of World (Middle East & Africa (MEA), Latin America)

Key questions answered in this report

  • What was the market size of virtual fitting room in 2018 and forecast up to 2027?
  • Which is the largest regional market for virtual fitting room?
  • What are the major trends followed in virtual fitting room market across different regions?
  • Who are the key companies in the virtual fitting room market?
  • What are the key strategies adopted by the leading virtual fitting room companies in market?

Unique data points of this report

  • Statistics on virtual fitting room and spending worldwide
  • Recent trends across different regions in terms of adoption of virtual fitting room across applications
  • Notable developments going on in the industry
  • Attractive investment proposition for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
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Budget Buying
Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Nov 2019
Category:  Technology & Media
Report ID:   60010
Report Format:   PDF
Pages:   120
Rating:    4.2 (49)
Delivery Time: 24 Hours to 48 Hours   
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