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Increasing Adoption Of Online Shopping Is Driving The Growth Of The Virtual Try-On Technology Market. Driving Market Acceleration in the Virtual Try-On Technology Industry, 2025
Virtual Try-On Technology
How Large Will the Virtual Try-On Technology Market Size By 2025?
The market size of virtual try-on technology has witnessed a rapid surge in recent times. The market is predicted to increase from $9.59 billion in 2024 to $12.17 billion in 2025, showing a compound annual growth rate (CAGR) of 26.9%. The historical growth can be correlated with the rise in fashion and retail tech companies, expansion of social media platforms, growth in research and development organizations, increased funding in VTO startups, and the proliferation of virtual influencers.
How Big Is the Virtual Try-On Technology Market Size Expected to Grow by 2029?
The marketplace for virtual try-on technology is projected to surge exponentially in the upcoming years, reaching a valuation of $31.27 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 26.6%. The projected expansion during the forecast period is credited to the advancement of hardware, the rise in consumer knowledge and acceptance, the escalating popularity of tablets for online shopping, international enlargement of retailers, and changes in consumer behavior. Significant trends for the forecast span include technological advancements in graphics, improved machine learning, superior body scanning, compatibility across various platforms, and incorporation with voice assistants.
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Which Key Market Drivers Powering Virtual Try-On Technology Market Expansion and Growth?
The surge in online shopping is projected to boost the expansion of the virtual try-on technology market. Online shopping involves buying goods or services online, and its popularity is rising due to its convenience, an expansive variety of products, competitive prices, and the ability to shop at any time from anywhere, facilitated by technological advancements and secure payment alternatives. Virtual try-on technology enhances online shopping by enabling customers to see how products such as apparel or accessories will look on them prior to purchase, which aids in decision-making and decreases return rates. For instance, a report from the United States Census Bureau, a professional governmental organization in the US, stated that total e-commerce sales in August 2024 reached nearly $1,118.7 billion. This marked a 7.6% increase from 2022 and accounted for 15.4% of total sales, an increase from 14.7% the year before. Consequently, the rising adoption of online shopping is fueling the expansion of the virtual try-on technology market.
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Which Fast-Growing Trends Are Poised to Disrupt the Virtual Try-On Technology Market?
Leading firms in the virtual try-on technology market are concentrating their efforts on creating advanced features like virtual trial tools, intended to enrich the online purchasing experience. These digital tools essentially provide users the space to virtually try products like apparel, accessories, or cosmetics without physically wearing them. A case in point is Walmart Inc., a renowned retail corporation in the US, which announced the launch of Be Your Own Model in November 2022, catering to online shoppers with a platform to virtually try clothes on their photos. Highlight include a personalized visualization feature enabling customers to see how clothes would appear on them using their photos, more realistic drapes and shadow simulation courtesy of sophisticated algorithms and machine learning techniques, a voluminous assortment exceeding 270,000 items from both private and national brands, and a user-friendly interface having a 'try it on' button, facilitating users to view items on themselves or on models that have similar body figures.
What Are the Emerging Segments in the Virtual Try-On Technology Market?
The virtual try-on technologymarket covered in this report is segmented -
1) By Type: Apparel, Footwear, Accessories, Makeup, Jewelry
2) By Technology: Augmented Reality (AR), Virtual Reality (VR), Holographic Projection, 3D Scanning, Machine Learning
3) By Device: Smartphones, Tablets, Laptops, Head-Mounted Displays (HMDs), Holographic Projectors
4) By Application: E-Commerce, Retail Stores, Social Media, Personal Use, Healthcare
Subsegments:
1) By Apparel: Tops, Bottoms, Dresses, Outerwear, Swimwear
2) By Footwear: Sneakers, Boots, Sandals, Formal Shoes, Slippers
3) By Accessories: Hats, Bags, Scarves, Belts, Sunglasses
4) By Makeup: Lip Products, Eye Makeup, Face Makeup, Nail Products, Makeup Tools
5) By Jewelry: Necklaces, Earrings, Bracelets, Rings, Watches
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Who Are the Global Leaders in the Virtual Try-On Technology Market?
Major companies operating in the virtual try-on technology market are Walmart Inc., L'Oreal S.A., Shiseido Company Limited, Coty Inc., Snap Inc., Warby Parker Inc., Grid Dynamics Holdings Inc., Netguru S.A., Perfect Corp Ltd., ModiFace Inc., Bambuser AB, Stylitics Inc., Shopexp Inc., Vue.ai Inc., Banuba Ltd., FittingBox SAS, Queppelin Technologies Pvt. Ltd., Blippar Ltd., Holition Ltd., 3DLook Inc., Webelight Inc., Centaur Media plc, Modern Mirror Inc., Zakeke S.r.l., mirrAR Technologies Inc.
Which are the Top Profitable Regional Markets for the Virtual Try-On Technology Industry?
North America was the largest region in the virtual try-on technology market in 2024. The regions covered in the virtual try-on technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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