The global virtual fitting room market size is expected to reach USD 20.63 billion by 2030, growing at a CAGR of 24.1% from 2023 to 2030, according to a new study by Grand View Research, Inc. The prevalence of high-tech simulations to mimic face-to-face buying behavior with the help of advanced 3D technologies is expected to drive the market growth. Furthermore, the intervention of digital transformation technologies, such as Artificial Intelligence (AI) and Augmented Reality (AR), is projected to create numerous growth opportunities for virtual fitting rooms over the forecast period. Virtual try-on technology is proving to be highly advantageous for retailers and is experiencing a surge in consumer adoption and preference in the current market landscape.
The virtual fitting room technology has been efficiently enabling consumers to try and reject products before ordering, thereby converting one-time buyers into repeat customers. For instance, in August 2022, be Retail Social, a virtual try-on and virtual fitting room platform, launched its first customer product called Get Cutie. This category sells vintage-inspired handmade garments and is the first fashion retailer to use accelerator and extension services, which is helping customers to virtually try-on the garments with the help of an avatar and make the buying decision accordingly.
This, in turn, is expected to boost the market demand over the forecast period. Furthermore, companies are developing advancements to enhance the sensory experience, including tactile, fabric, and texture perception, for consumers making online purchases. This aims to decrease return rates and foster brand loyalty. In addition, the virtual fitting room technology gathers extensive data, enabling the marketing analytics team to enhance customer experience and bolster brand recognition. This breakthrough in the retail industry leverages purchase data to inform future business strategies, thereby driving growth in the market over the forecast period.
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Based on the component segment, the service segment is expected to record the highest CAGR over the forecast period, owing to the market participants as they emphasize delivering consulting services that ensure the effective operation
Based on the application segment, the beauty and cosmetic application segment is expected to register the highest growth rate over the forecast period, owing to the rising popularity of e-marketplaces
Based on end-use segment, the virtual stores segment recorded a significant revenue share in 2022. This is attributed to the inclination of users towards the ease of e-commerce websites
The European region contributed the largest revenue share in 2022 to the market. This strong growth is attributed to the presence of several notable fashion brands in the region
Grand View Research has segmented the global virtual fitting room market based on component, application, end-use, and region:
Virtual Fitting Room Component Outlook (Revenue, USD Million, 2018 - 2030)
Hardware
Software
On-premise
Cloud
Services
Installation
Support & Maintenance
Consulting
Virtual Fitting Room Application Outlook (Revenue, USD Million, 2018 - 2030)
Apparel
Beauty & Cosmetic
Eyewear
Footwear
Others
Virtual Fitting Room End-use Outlook (Revenue, USD Million, 2018 - 2030)
Physical Store
Virtual Store
Virtual Fitting Room Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Russia
Asia Pacific
China
Australia
Japan
South Korea
Latin America
Brazil
Mexico
Middle East & Africa (MEA)
UAE
Saudi Arabia
List of Key Players in Virtual Fitting Room Market
Autumn Rock Ltd. (AstraFit)
ELSE Corp.
FXGear Inc.
Metail
Fit Analytics
Zugara Inc.
Sizebay
Magic Mirror
Fision AG
MemoMi Labs Inc.
SenseMI
triMirror
Virtusize Co. Ltd.
Visualook
Reactive Reality AG
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