Press release
Global Virtual Fitting Room Market Insights and Forecast to 2028
The global virtual fitting room market size was estimated at USD 2973.1 million in 2021 and is expected to reach USD 8501.1 million in 2028, market is expected to grow at a compound annual growth rate of 16% from 2022 to 2028. Key drivers of the virtual fitting room market include the increasing penetration of the eCommerce industry and concerns related to delivering properly fitted products online. The emergence of Virtual Reality(VR), Augmented Reality(AR) technologies to ease customer shopping experience will drive the growth of the virtual fitting room market in the coming years.
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A virtual fitting room (also often referred to as a virtual dressing room and virtual changing room although they do, on examination, perform different functions) is the online equivalent of an in-store changing room.
Growing Ecommerce Industry And Concerns Of Online Shopping
The eCommerce industry is booming as consumers are buying everything online. There is a need to replicate the dressing room-like experience online for improving customer engagement and reducing returns. Virtual fitting rooms enable consumers to get a feel of the product before purchasing thereby increasing satisfaction and boosting repeat visits. Thus retailers are investing heavily into virtual fitting room solutions for their websites, online and physical stores. This is boosting the growth of the virtual fitting room market during the forecast period.
Emergence Of Virtual Reality(VR) And Augmented Reality(AR) Technologies
The adoption of emerging technologies has accelerated especially during the pandemic as people are moving towards digital experiences. AR and VR provide an interactive online experience based on real-life objects that are helping brands boost their conversion rate. Consumers are able to adjust and customize products according to their own preferences and size. Thus the emergence of AR, VR technologies will provide lucrative opportunities for the growth of the virtual fitting room market in the coming years.
Virtual Fitting Room Market, By Application
Based on application, the eCommerce segment is expected to provide huge scope for growth in the virtual fitting room market share as eCommerce websites are gaining huge popularity due to easy shopping, variety of products, and hassle-free experience.
Virtual Fitting Room Market, By Type
Based on type, the software segment is expected to provide lucrative opportunities for growth in the virtual fitting room market share due to rapid innovations in software solutions by key market players such as AR, VR, etc.
Virtual Fitting Room Market, By Region
Based on the region, North America is expected to hold a share of 36% and will provide huge opportunities for growth in the virtual fitting room market share due to the presence of big retailers and eCommerce companies in the region. In addition to it, Europe and Japan hold 28% and 7%.
Key Market Segments
By Type
Hardware
Software
Services
By Application
E-commerce
Physical Store
By Region
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Nordic Countries
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Key Market Players
Perfitly
triMirror
Zugara
Magic Mirror
Visualook
Fit Analytics
AstraFit
ELSE Corp
Coitor It Tech
Reactive Reality AG
Sizebay
Virtusize
Virtooal
Quytech
Shandong Yashe Information Technology
Fision AG (Zalando)
WearFits
True Fit Corporation
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SIMILAR REPORT
https://reports.valuates.com/market-reports/ALLI-Auto-4H304/augmented-and-virtual-reality
https://reports.valuates.com/market-reports/QYRE-Othe-2Z282/ar-in-retail
https://reports.valuates.com/market-reports/QYRE-Auto-6K6319/global-e-commerce
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