What Is The Current and Historic Market Size Analysis Of The Virtual Try On Technology Market?
The virtual try on technology market has seen considerable growth due to a variety of factors.
• In the recent years, there has been exponential growth in the market size of virtual try-on technology. Projected growth indicates a rise from $9.59 billion in 2024 to $12.17 billion in 2025, a compound annual growth rate (CAGR) of 26.9%.
The growth during the historic period can be linked to the rise of fashion and retail technology firms, expansion of social media platforms, the growth of research and development institutions, increased funding in Virtual Try-On (VTO) startups, and the rise of virtual influencers.
What are the Market Size and Expected Growth Rates for the Virtual Try On Technology Market?
The virtual try on technology market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, a substantial upsurge is projected in the market size of virtual try-on technology, escalating to $31.27 billion by 2029, with a compound annual growth rate (CAGR) of 26.6%.
Various factors such as the advancement of hardware, consumer knowledge and acceptance, the predominant use of tablets for online shopping, the global outreach of retailers, and alterations in consumer behaviors are responsible for this predicted growth. Key tendencies during the forecast period comprise improvements in graphics technology, development in machine learning, augmented body scanning, compatibility across different platforms, and amalgamation with voice assistants.
Which Key Drivers Are Propelling The Virtual Try On Technology Market's Growth?
The growing preference for online shopping is predicted to drive the expansion of the virtual try-on technology market in the future. Online shopping involves buying products or services via the internet. The escalating trend toward online shopping can be attributed to the ease of shopping, expanded product variety, competitive prices, and the freedom to shop anytime, anywhere, complemented by technological advancements and secure payment methods. The virtual try-on technology enhances the experience of online shopping as it enables customers to envision how the products, such as apparel or accessories, might appear before they purchase it, thus facilitating better decision-making and decreasing product return rates. For example, in August 2024, as per the report released by the United States Census Bureau, a US-based government agency, in 2023, the total e-commerce sales hit approximately $1,118.7 billion, showing a 7.6% increase compared to 2022 and making up 15.4% of total sales, a rise from 14.7% the preceding year. Hence, the burgeoning adoption of online shopping is fueling the expansion of the virtual try-on technology market.
What Are The Key Segments Within The Global Virtual Try On Technology Market?
The virtual try-on technologymarket covered in this report is segmented –
1) By Type: Apparel, Footwear, Accessories, Makeup, Jewelry
2) By Technology: Augmented Reality (AR), Virtual Reality (VR), Holographic Projection, 3D Scanning, Machine Learning
3) By Device: Smartphones, Tablets, Laptops, Head-Mounted Displays (HMDs), Holographic Projectors
4) By Application: E-Commerce, Retail Stores, Social Media, Personal Use, Healthcare
Subsegments:
1) By Apparel: Tops, Bottoms, Dresses, Outerwear, Swimwear
2) By Footwear: Sneakers, Boots, Sandals, Formal Shoes, Slippers
3) By Accessories: Hats, Bags, Scarves, Belts, Sunglasses
4) By Makeup: Lip Products, Eye Makeup, Face Makeup, Nail Products, Makeup Tools
5) By Jewelry: Necklaces, Earrings, Bracelets, Rings, Watches
Pre-Book The Virtual Try On Technology Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Shaping The Virtual Try On Technology Market?
Major corporations in the virtual try-on technology market are driving their focus towards the creation of sophisticated solutions such as virtual fitting tools to upgrade the quality of online shopping. A virtual fitting tool is a digital instrument that enables users to preview how products like clothes, accessories, or cosmetics, would appear on them without the need for physical fitting. For example, in November 2022, Walmart Inc., a retail company from the United States, unveiled the Be Your Own Model, permitting online customers to envisage how clothes would look on them using their own photographs. The program delivers distinct elements like individualized visualizations derived from customers' photographs to preview clothing fits, vivid replication of clothing drape and shadow effects via progressive algorithms and AI, an extensive portfolio of over 270,000 products that includes both proprietary and national brands, and an intuitive interface equipped with a try on feature, enabling customers to see items on either themselves or on similar body type models.
Who Are the Key Players In The Virtual Try On Technology Market?
Major companies operating in the virtual try-on technology market are:
• Walmart Inc.
• L'Oreal S.A.
• Shiseido Company Limited
• Coty Inc.
• Snap Inc.
• Warby Parker Inc.
• Grid Dynamics Holdings Inc.
• Netguru S.A.
• Perfect Corp Ltd.
• ModiFace Inc.
• Bambuser AB
• Stylitics Inc.
• Shopexp Inc.
• Vue.ai Inc.
• Banuba Ltd.
• FittingBox SAS
• Queppelin Technologies Pvt. Ltd.
• Blippar Ltd.
• Holition Ltd.
• 3DLook Inc.
• Webelight Inc.
• Centaur Media plc
• Modern Mirror Inc.
• Zakeke S.r.l.
• mirrAR Technologies Inc.
What Are The Regional Insights Into The Virtual Try On Technology Market?
North America was the largest region in the virtual try-on technology market in 2024. The regions covered in the virtual try-on technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
