What Is The Current and Historic Market Size Analysis Of The Virtual Fitting Room Market?
The virtual fitting room market has seen considerable growth due to a variety of factors.
• The size of the virtual fitting room market has seen a significant increase in the past few years. The market, which is estimated to be valued at $6.3 billion in 2024, is predicted to rise up to $7.73 billion in 2025, marking a compound annual growth rate (CAGR) of 22.6%.
This impressive growth seen in the historical period can supposedly be due to the emergence and rise of e-commerce, reduction in product returns, increased brand engagement and the prevalence of omnichannel retail.
What are the Market Size and Expected Growth Rates for the Virtual Fitting Room Market?
The virtual fitting room market is expected to maintain its strong growth trajectory in upcoming years.
• Predictions suggest an substantial increase in the size of the virtual fitting room market in the ensuing years. The estimation is that it will balloon to a size of $17.4 billion by 2029, experiencing a compound annual growth rate (CAGR) of 22.5%.
This anticipated growth over the forecast period can be linked to various factors such as the consumer's inclination towards personalization, a shift to sustainable practices, regulatory environment and trends in mobile shopping. Key trends during the forecast period encompass the management of virtual wardrobes, creating mobile-friendly experiences, integration with various social media platforms, and improved analytics and insights.
Which Key Drivers Are Propelling The Virtual Fitting Room Market's Growth?
The burgeoning growth of e-commerce is predicted to drive the expansion of the virtual fitting room market. E-commerce describes the online or electronically networked purchase and sale of goods and services. Its rise is driven by factors such as convenience, accessibility, shifting consumer patterns, and sophisticated business strategies. Utilizing virtual fitting rooms is a key e-commerce strategy that minimizes returns, boosts customer trust, and increases conversion rates by letting buyers virtually try on clothes prior to purchase. For example, the US Census Bureau reported in November 2023 that e-commerce growth rose to 7.6% in the third quarter of 2023, marking an increase from 6.9% in the fourth quarter of 2022. Furthermore, online outlets accounted for 15.4% of all sales in 2023's second quarter. As such, the swift expansion of e-commerce is a major contributor to the growth of the virtual fitting room market.
What Are The Key Segments Within The Global Virtual Fitting Room Market?
The virtual fitting room market covered in this report is segmented –
1) By Type: In-Store Virtual Mirrors, App-Based Body Scanners, Sizing Surveys Backed By 3d Body Data
2) By Component: Hardware, Software, Services
3) By Application: Apparel, Eyewear, Cosmetic And Beauty Products, Jewelry And Watches, Other Applications
4) By End User: Brick And Mortar Stores, Virtual Or E-Commerce Stores
Subsegments:
1) By In-Store Virtual Mirrors: Interactive Virtual Try-On Mirrors, Augmented Reality (AR) Mirrors
2) By App-Based Body Scanners: Mobile Apps For Body Measurement, 3D Body Scanning Apps
3) By Sizing Surveys Backed By 3D Body Data: Online Sizing Surveys, AI-Driven Fit Recommendation Tools
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How Are New Trends Impacting The Size Of The Virtual Fitting Room Market?
Leading firms in the mobile virtual fitting market are focusing on pioneering innovations like the virtual fitting room pilot to cater to the rising demand for precise size and fit advice and to offer an enriched shopping journey. This technology lets customers virtually try on clothes without any physical interaction or purchase, thus harnessing the potential of technology to provide shoppers with an insight into the size, style and fit of products. For example, in April 2023, Zalando SE, an e-commerce firm based in Germany, launched a virtual fitting room pilot with an aim to lower return rates, provide smart data management and facilitate a more tailored and easy shopping experience. This allows customers to generate a 3D model of themselves by inputting details like their height, weight, and gender. The avatar created can then be used to virtually try on different sizes of jeans from various brands, with a heatmap showing if the product is too tight or loose. Furthermore, it enhances the shopping experience especially for hard-to-find items like jeans, decreases returns, and also offers crucial data to retailers to upgrade their product assortment and stock control.
Who Are the Key Players In The Virtual Fitting Room Market?
Major companies operating in the virtual fitting room market are:
• Zoovu GmbH
• Total Immersion S.A.
• Fashion Fusion AG
• Vue.ai Technologies Inc.
• WearWell Technologies Inc.
• True Fit Corporation
• Visenze Pte. Ltd.
• Swivel Technologies Inc.
• 3DLook LLC
• Fit Analytics GmbH
• NexTech AR Solutions Corp.
• Tailor Store Sweden AB
• My Size Inc.
• Reactive Reality AG
• Virtusize AB
• Fision Technologies Inc.
• Size Stream LLC
• Zugara Inc.
• Trimirror Inc.
• StyleSpot Inc.
• Omnify Inc.
• StyleSage Inc.
• Coitor IT Tech Pvt. Ltd.
• Perfitly Inc.
• Metail
What Are The Regional Insights Into The Virtual Fitting Room Market?
North America was the largest region in the virtual fitting room Market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual fitting room market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
