Expert Market Research’s new report titled ‘Global Virtual Dressing Room Market Report and Forecast 2021-2026′, gives an in-depth analysis of the global Virtual Dressing Room market, assessing the market based on its segments such as component, application, end-use, and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): USD 3.8 billion
- Forecast CAGR (2021-2026): 18%
- Forecasted market size (2026): 10.5 billion USD
In the retail industry, a rapidly changing retail landscape, a dramatic shift towards cutting-edge shopping, and increasingly changing perceptions from increasingly educated consumers are contributing to a new perception. In order to significantly improve the online and in-store shopping experience and save time for their consumers, fashion stores are adopting virtual fitting rooms. A major factor that is expected to drive the revenue growth in the global virtual fitting room market is the rise in adoption of improved technology to deliver better shopping experiences to customers. This virtual fitting room technology is introduced to reduce this exchange and return rate and to increase the online shopping experience by many online retailers.
Industry definition and major segments
An innovative technology that allows customers to try on different clothes in a virtual pattern is a virtual fitting room. Instead, a virtual body is used to test clothes and verify and make purchase choices while using this technology, and individuals do not need to wear clothes to verify. The simulated fitting room helps consumers choose the color, size, costume, design and other important choices for the purchased product.
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By component, the market is divided into:
- Software tools
- Integration services
- Support and maintenance
Based on Application, the market is segmented into:
- Jewelry and Watches
- Beauty and Cosmetics
On the basis of end-use, the market is split into:
- Physical store
- Virtual store
Regional markets for the product include:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
Several apparel companies are adopting virtual fitting room solutions. To engage customers with their products, the 3D virtual try-on approach is enhanced with multi-sensory simulations. The demand for 3D virtual dressing rooms is fueled by virtual reality (VR) and augmented reality (AR) deployments. Rising usage of smartphones and growing trend of online shopping owing to lack of time and attractive offers are also factors that are expected to boost the growth of the global virtual fitting room market. Another major factor expected to fuel the growth of the global virtual fitting industry is increasing investment in the adoption of advanced technological devices in the apparel retail industry to enhance the client experience.
Main market players
The major market players are ELSE Corp Srl, Autumn Rock Limited, Magic Mirror, Fit Analytics GmbH, True Fit Corporation, and FXGear Inc., among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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