The global virtual fitting room market size was at USD 2.28 billion in 2018 and is projected to reach USD 10.75 Billion by 2026, exhibiting a CAGR of 22.0% during the forecast Period.
Virtual fitting room technology offers consumers with luxury to plug indefinite body metrics. This gives impetus to the global virtual fitting room market. Fortune Business Insights finds this in a report, titled ‘‘Virtual Fitting Room (VFR) Market Size, Share and Global Trend by Type (Hardware, Software, Services), By Application (E-Commerce & Physical store) and Geography Forecast till 2025.’’ The market for the virtual fitting room is likely to expand considerably in the coming years.
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Rising Popularity of E-commerce will Fuel Demand for Virtual Fitting Room
The virtual fitting room is very similar to the physical in-store changing room, which provides an active way for buyers to try attires, accessories, and other things virtually instead of tangible. Automation has gradually attained marketability in the past few years, and fashion traders are anticipated to set out with equivalent to offer a more likeable experience to fashion enthusiasts. The virtual fitting room makes use of augmented reality (AR) and works by overlaying an apparel or an accessory onto the mirror copy of the shopper.
Another aspect that is enabling growth in the market is the budding e-commerce drift and increasing inclination of a buyer towards online shopping. These factors together are likely to bode well for the overall market. E-commerce application segment is estimated to dominate the VFR market as the e-commerce industry is rising rapidly and in the e-commerce industry, the apparel market is exhibiting growth at an accelerated pace. Virtual fitting room offers an engaging and personalized experience to shoppers online and allowing them to choose and purchase outfits at their convenience which a physical store does not provide. This is factor is aiding the expansion of the overall market. Online/E-commerce virtual fitting room is gaining more popularity as compared to an offline virtual fitting room owing to its time and effort saving features. Besides these, VFR lets the customer try and buy from home, which is a key factor aiding the market’s growth.
Asia Pacific Expected to have an Immense affect in the trade of Virtual fitting room
Asia Pacific is expected to show high demand for virtual fitting rooms. The market will witness lucrative growth prospects, especially in India, China, and other Southeast Asia countries. Countries such as Japan and South Korea have a vast range of e-commerce customer data and the market size is expected to raise more than $180 million in these countries. North America is expected to offer attractive growth opportunities to the market, especially in the U.S. The expansion of ecommerce industry and tremendous growth registered by online shopping sites are expected to drive the virtual fitting room market in North America. Moreover, the virtual fitting room market in Germany, France, South Africa, Brazil, and others are also expected to expand significantly during the forecast period 2018-2025.
Some of the leading companies in the global virtual fitting room industry are
- Virtusize AB
- Truefit Corporation
- Total Immersion
- Imaginate Technologies Inc.
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