Global Virtual Fitting Room Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028
The Virtual Fitting Room Market report has been segmented on the basis of component, end-use, and region.
Virtual Fitting Room Market: Overview
“The Virtual Fitting Room Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
A virtual fitting room is an advanced technology that helps buyers to try various clothes in a virtual pattern. By using this technology, an individual does not need to wear clothes and check, instead, a virtual body is used to try clothes to check and make decisions while shopping.
The virtual fitting room allows consumers to select the color of clothes, size, fitting, style, and other options that are relevant to the product purchased.
In other words, a virtual fitting room is an artificial way of trying clothes while purchasing and is similar to a video games version of a changing room.
Virtual Fitting Room Market: Dynamics
Increasing implementation of improved technology in order to offer a better shopping experience to buyers is a major factor expected to drive revenue growth of the global virtual fitting room market.
Additionally, increasing the focus of sellers towards increasing conversion rates of sales and minimizing exchange and return rates of purchased clothes are other major factors projected to drive the growth of the global virtual fitting room market.
Moreover, the E-commerce shopping industry has a comparatively higher rate of returns and exchanges of apparel due to wrong fitting and size.
To reduce this exchange and return rate, and to enhance the online shopping experience various online retailers are adopting this virtual fitting room technology.
These are some of the other key factors expected to drive the growth of the global virtual fitting room market.
Increasing usage of smartphones and the rising trend of online shopping owing to shortage of time and attractive offers are also factors projected to drive the growth of the global virtual fitting room market.
Rising investments in the adoption of technologically advanced devices in the clothing retail industry to enhance customer experience is another major factor expected to fuel the growth of the global virtual fitting room market.
However, lack of awareness about this advanced technology is a major factor expected to hamper the growth of the global virtual fitting room.
In addition, the high costs of such type of technology are expected to hinder the growth of the global virtual fitting room market.
Virtual Fitting Room Market, Analysis by Segments
Among the end-use segments, the physical store segment is estimated to dominate in the global virtual fitting room market.
Increasing implementation of these virtual fitting rooms in physical stores in order to enhance customer experience is a major factor expected to drive the growth of this segment.
In addition, usage of high-tech technology such as VR and AR, to fulfill the increasing expectations of customers, various physical stores have adopted virtual fitting room technology, which is expected to boost revenue contribution from the physical store segment in the global market.
Moreover, retailers all over the world are using this virtual fitting room in physical stores for various purposes such as for apparel, eyewear, jewelry, watches, etc. and this is expected to support higher adoption of virtual fitting rooms in physical stores.
Virtual Fitting Room Market, Analysis by Region
The North American market is expected to account for the highest revenue share in the global virtual fitting room market.
Permeation of virtual fitting room technology in North America, as well as penetration of network-based solutions, are factors expected to drive revenue growth for the manufacturers in the global virtual fitting room in North America.
Virtual Fitting Room Segmentation:
Segmentation by Component:
- Mobile Application
Segmentation by End-use:
- Physical Store
- Jewelry and Watches
- Others (Shoes, Accessories)
Segmentation by Region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Zugara, Inc.
- Virtusize AB
- True Fit Corporation
- Total Immersion
- Secret Sauce Partners Inc.
- VRnow GmbH
- Metail Limited
- Imaginate Software Labs Pvt Ltd.
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