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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 Experiences is Driving the Growth of the 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 retailers' increasing focus on providing customers with personalized shopping experiences. Furthermore, as the competition among online and offline retailers is increasing and business models are changing, companies started to focus more on enhancing customer experience. To address these challenges, retailers are shifting towards more advanced digital technologies to provide a personalized shopping experience to customers. In addition, retailers are adopting rich 3D graphic content to engage customers in a more efficient manner and provide an immersive shopping experience. 

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

Market Synopsis

Eyewear is Estimated to Grow Significantly During the Forecast Period  

The virtual fitting room market is characterized based on the application of apparel, accessories, eyewear, jewelry and watches, cosmetics, and others. The 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 apparel in online stores. On the other hand, eyewear is estimated to grow significantly during the forecast period due to the increasing integration of virtual fitting rooms across the domain.  

North America is Leading the Virtual fitting room Market.                             

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

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

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. In addition, the report provides a holistic view of the global virtual fitting room market based on component, end-use, application, and geography. Key segments covered in the report are as follows:

 

Segmentation Component Segment (2017–2027; US$ Bn)

  • Hardware
  • Prefabricated
  • 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)

Unique data points of this report

  • Statistics on virtual fitting rooms and spending worldwide
  • Recent trends across different regions in terms of the adoption of virtual fitting rooms 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)

Frequently asked questions :

The market for Virtual Fitting Room Market is expected to reach US$ XX Bn in 2027.

The Virtual Fitting Room Market is expected to see significant CAGR growth over the coming years, at 20.5%.

The report is forecasted from 2018-2027.

The base year of this report is 2018.

3D-A-PORTER, Astafit, Coitor IT Tech, ELSE Corp, Fision Technologies, Fit Analytics are some of the major players in the global market.

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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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