What Has Been The Evolution of the Virtual Mirror Market in Recent Years?
The virtual mirror market has seen considerable growth due to a variety of factors.
• The market size of the virtual mirror has seen massive growth in the past few years. It is projected to increase from $10.88 billion in 2024 to $13.14 billion in 2025, with a compound annual growth rate (CAGR) of 20.8%.
Factors contributing to this growth in the historical period are customer demand, market uniqueness and innovation, enhanced user interfaces, trends in the fashion and beauty industry, and the adoption of mobile and augmented reality.
What Is the Forecasted Market Size and Growth Rate for The Virtual Mirror Market?
The virtual mirror market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations indicate a significant expansion in the virtual mirror market size in the years to come. By 2029, it's projected to surge to $30.42 billion, with a compound annual growth rate (CAGR) of 23.3%.
This growth spurt during the forecast period can be linked to factors such as environmental sustainability concerns, intense market competition, improved user experience, innovations in retail, customer engagement, and the integration of mobile AR and apps. The forecast period is also set to see major trends, including advancements in augmented reality (AR), contactless shopping and remote try-ons, the integration of e-commerce and online retail, broader industry applications, and mobile accessibility.
What Are The Core Factors Supporting Growth In The Virtual Mirror Market?
The rise in internet-based shopping operations is anticipated to boost the virtual mirror market's expansion. Essentially, online shopping denotes a kind of e-commerce enabling buyers to purchase goods or services directly from the seller via internet web pages. Mobile applications often offer virtual mirrors to users for altering the visual appearance of their hair, make-up, or accessories. This innovation is integrated into both online and in-store shopping to illustrate how a product or accessory may look on a person. For example, the Indian Brand Equity Foundation, a promotional agency for exports based in India, predicts that the Indian e-commerce market will experience a growth of 21.5% in 2022 to hit a net worth of $74.8 billion. As such, the upsurge in online shopping is fueling the development of the virtual mirror market.
What Are The Major Segments Within The Global Virtual Mirror Market?
The virtual mirror market covered in this report is segmented –
1) By Component: Software, Hardware, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Technology: 3D Body Scanning, Photo Accurate VFR, 3D Augmented Reality And Virtual Reality
4) By Industry: Retail, Other Industries
Subsegments:
1) By Software: Augmented Reality (AR) Software, Virtual Try-On Applications, Customization And Personalization Tools
2) By Hardware: Display Screens, Cameras And Sensors, Interactive Touchscreens
3) By Services: Installation And Setup Services, Maintenance And Support Services, Consulting Services For Integration
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Which Trends Are Expected To Transform The Virtual Mirror Market?
The introduction of novel product innovations is becoming a prominent trend in the virtual mirror market. Most companies in this sector are shifting towards introducing fresh products to maintain their market viability. One example is My Size Inc., an American company that in January 2022, unveiled an advanced smart mirror. Its innovative design enables users to try on clothing and receive size suggestions, by utilizing GK Software's retail solutions and MySize's AI-driven sizing system, perfecting the process of selecting accurate sizes. The MySizeID Mirror is easily incorporated into diverse retail environments such as fitting rooms or areas with high footfall.
Who Are the Key Players in the Virtual Mirror Market?
Major companies operating in the virtual mirror market include:
• SenseMi Technologies Pvt. Ltd.
• Terawe Corporation
• Textronics Inc.
• Virtooal Studio SRL
• ICON Multimedia S. L.
• Cisco Systems Inc.
• Fitnect Interactive Inc.
• Metail Limited
• MemoMi Labs Inc.
• Zugara Inc.
• My Size Inc.
• Virtusize Co. Ltd.
• DigitalDM Inc.
• ViuBox S. L.
• Dressformer LLC
• Astrafit LLC
• Virtalis Limited
• Vizoo GmbH
• zSpace Inc.
• 3D-A-Porter Limited
• Styku Inc.
• Total Immersion SAS
• ViewAR GmbH
• Vuforia Solutions Inc.
• Wikitude GmbH
• YouAR GmbH
• Zappar Limited
• Blippar Limited
What Is The Most Dominant Region In The Virtual Mirror Market?
North America was the largest region in the virtual mirror market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual mirror market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
