Global Virtual Fitting Room Market Overview:
The latest report by IMARC Group, titled “Virtual Fitting Room Market: Global Industry Trends, Size, Share, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the virtual fitting room market report. The report also includes competitor and regional analysis, and contemporary advancements in the market. 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.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
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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.
Global Virtual Fitting Room Market 2022-2027 Analysis and Segmentation:
Competitive Landscape With Key Players:
- ELSE Corp Srl
- Fit Analytics
- FXGear Inc.
- Magic Mirror
- MemoMi Labs Inc.
- SenseMi DMCC
- True Fit Corporation
- Visualook and Zugara Inc.
Breakup by Application:
- Beauty and Cosmetic
- Physical Store
- Virtual Store
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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