The global virtual fitting room market is anticipated to grow significantly over the forecast period .The rapidly growing advancements in scientific techniques have led to the development of technologies such as virtual reality and augmented reality. Vendors in the parasol are continuously focusing on integrating virtual technologies across various end-use verticals. Recently, they have developed virtual fitting room technology. This room enables users to dress their reflection in the mirror virtually. Thus, the customers can virtually try an outfit on their mirror image and gather a look at themselves from each desired angle. Factors such as increasing adoption of virtual fitting to provide enhanced customer experience and increasing deployment across various physical stores such as shopping malls and independent stores are expected to drive the growth of the market.
Virtual fitting rooms offer various features such as it allows users to take pictures in different outfits. These pictures can be shared with virtual stylists, friends, and others. Also, various backgrounds can be added to the image. Further, in order to provide such features rich customer experience, vendors are continually developing new products. For instance, In January 2018, Amazon.com, Inc., a technology company, has announced that it has filed a patent through which it will turn its echo look into a virtual fitting room. This will be done by its speech powered camera that will leverage augmented reality technology to help clients to try clothes virtually.
The virtual fitting room market can be categorized into three segments. Based on the component, the market is classified into hardware, software, and services. Further based on end-users, the market is classified into physical stores and e-commerce stores. In addition, the rising adoption of virtual commerce (v-commerce) is anticipated to drive the growth of the e-commerce store segment over the forecast period.
Based on the use case, the Virtual fitting room market can be bifurcated into accessories, apparel, beauty & cosmetics, and others. The apparels segment is expected to cater to a high share in the market, as the majority of users prefer trying various outfits using the virtual room in order to reduce the purchasing time. Based on the region, the virtual fitting room market (or virtual dressing room market) is bifurcated into North America, Europe, Asia Pacific, South America, and MEA. The North America region is expected to cater to the highest share due to the rapid adoption of advanced technologies across the region.
The key vendors are in the virtual fitting room market (or virtual dressing room market) are 3D-A-PORTER, Autumn Rock Limited (AstraFit), ELSE Corp Srl, Fitnect Interactive, Fit Analytics, Michael Teeuw, triMirror, True Fit Corporation, Visualook, Zugara, Inc.
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Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.