IMARC Group's latest report, titled "Virtual Fitting Room Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," finds that the global virtual fitting room market is expected to exhibit a CAGR of 22.57% during 2022-2027. A virtual fitting room (VFR), also known as a virtual dressing room, refers to an online equivalent of an in-store changing room. It enables shoppers to virtually try on different products, such as clothing, accessories and footwear. VFR solutions work by placing the chosen item over a customer's live video feed, allowing them to check its size, fit and style. Thus, they offer a more personalized, immersive, flexible and hassle-free shopping experience than traditional brick-and-mortar outlets. Nowadays, virtual fitting rooms are gaining immense popularity among retailers and shoppers since VFR solutions assist individuals in making better purchase decisions.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Virtual Fitting Room Market Trends:
The expanding e-commerce industry, along with the high internet penetration rate and growing usage of smartphones, represents the primary factor driving the global market. Since online retail channels offer more flexibility, convenience and options, consumers are rapidly shifting toward online shopping. This, in confluence with the emerging high fashion trend and increasing consumer expenditure capacities, is acting as another major growth-inducing factor. Additionally, the rising health and safety concerns amid the recent coronavirus disease (COVID-19) outbreak, along with the growing need to maintain social distancing norms, are augmenting the demand for VFR solutions. Besides this, the increasing need to deliver products that fit properly is encouraging online retailers to adopt VFR solutions to offer an improved shopping experience, reduce product return rates and build brand loyalty. Furthermore, the widespread adoption of augmented reality (AR) and virtual reality (VR) for immersive experiences and recent advancements in VFR technologies are positively influencing the market growth. Other factors, including the rising try-before-you-buy trend and heavy investments in personalized ads and promotional campaigns by retailers, are also creating a favorable market outlook.
- Based on the component, the market has been divided into hardware, software and services.
- The market has been classified based on the application into apparel, beauty and cosmetic, eyewear, footwear and others.
- Based on the end use, the market has been bifurcated into physical and virtual stores.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico and others), Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being AstraFit, ELSE Corp Srl, Fit Analytics GmbH, FXGear Inc., Magic Mirror, MemoMi Labs Inc., Metail Limited, SenseMi DMCC, True Fit Corporation, Visualook and Zugara Inc.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter : @imarcglobal