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PUBLISHER: Grand View Research | PRODUCT CODE: 1301235
PUBLISHER: Grand View Research | PRODUCT CODE: 1301235
Virtual Fitting Room Market Size, Share & Trends Analysis Report By End-use (Physical Store, Virtual Store), By Component (Hardware, Software), By Application (Apparel, Eyewear), By Region, And Segment Forecasts, 2023 - 2030
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Virtual Fitting Room Market Growth & Trends
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.
Virtual Fitting Room Market Report Highlights
- 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
Product Code: GVR-4-68039-334-2
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definitions
- 1.3 Information Procurement
- 1.3.1 Information Analysis
- 1.3.2 Market Formulation & Data Visualization
- 1.3.3 Data Validation & Publishing
- 1.4 Research Scope and Assumptions
- 1.4.1 List of Data Sources
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Competitive Landscape Snapshot
Chapter 3 Market Variables, Trends & Scope
- 3.1 Market Lineage Outlook
- 3.2 Industry Value Chain Analysis
- 3.3 Market Dynamics
- 3.3.1 Market Driver Analysis
- 3.3.2 Market Restraint Analysis
- 3.3.3 Market Challenges
- 3.3.4 Market Opportunities
- 3.4 Industry Analysis Tools
- 3.4.1 PORTER'S Analysis
- 3.4.2 MACROECONOMIC Analysis
Chapter 4 Component Estimates & Trend Analysis
- 4.1 Component Movement Analysis & Market Share, 2022 & 2030
- 4.2 Virtual Fitting Room Market Estimates & Forecast, By Component (USD Million)
- 4.2.1 Hardware
- 4.2.2 Software
- 4.2.2.1 On-premise
- 4.2.2.2 Cloud
- 4.2.3 Services
- 4.2.3.1 Installation
- 4.2.3.2 Support & Maintenance
- 4.2.3.3 Consulting
Chapter 5 Application Estimates & Trend Analysis
- 5.1 Application Movement Analysis & Market Share, 2022 & 2030
- 5.2 Virtual Fitting Room Market Estimates & Forecast, By Application (USD Million)
- 5.2.1 Apparels
- 5.2.2 Beauty and Cosmetics
- 5.2.3 Eyewear
- 5.2.4 Footwear
- 5.2.5 Others
Chapter 6 End-Use Estimates & Trend Analysis
- 6.1 End-use Movement Analysis & Market Share, 2022 & 2030
- 6.2 Virtual Fitting Room Market Estimates & Forecast, By End-use (USD Million)
- 6.2.1 Physical Stores
- 6.2.2 Virtual Stores
Chapter 7 Regional Estimates & Trend Analysis
- 7.1 Virtual Fitting Room Market by Region, 2022 & 2030
- 7.2 North America
- 7.2.1 North America Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.2.2 U.S.
- 7.2.2.1 U.S. Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.2.3 Canada
- 7.2.3.1 Canada Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3 Europe
- 7.3.1 Europe Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3.2 UK
- 7.3.2.1 UK Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3.3 Germany
- 7.3.3.1 Germany Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3.4 France
- 7.3.4.1 France Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3.5 Spain
- 7.3.5.1 Spain Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3.6 Italy
- 7.3.6.1 France Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.3.7 Russia
- 7.3.7.1 Spain Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.4 Asia Pacific
- 7.4.1 Asia Pacific Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.4.2 China
- 7.4.2.1 China Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.4.3 Australia
- 7.4.3.1 Australia Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.4.4 Japan
- 7.4.4.1 Japan Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.4.5 South Korea
- 7.4.5.1 South Korea Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.5 Latin America
- 7.5.1 Latin America Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.5.2 Brazil
- 7.5.2.1 Brazil Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.5.3 Mexico
- 7.5.3.1 Mexico Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.6 Middle East & Africa (MEA)
- 7.6.1 MEA Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Millions)
- 7.6.2 UAE
- 7.6.2.1 UAE Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
- 7.6.3 Saudi Arabia
- 7.6.3.1 Saudi Arabia Virtual Fitting Room Market Estimates & Forecasts, 2018 - 2030 (USD Million)
Chapter 8 Virtual Fitting Room Market - Competitive Landscape
- 8.1 Key Market Participants
- 8.1.1 Autumn Rock Limited (AstraFit)
- 8.1.2 ELSE Corp.
- 8.1.3 FXGear Inc.
- 8.1.4 Metail
- 8.1.5 Fit Analytics
- 8.1.6 Zugara Inc.
- 8.1.7 Sizebay
- 8.1.8 Magic Mirror
- 8.1.9 Fision AG
- 8.1.10 MemoMi Labs Inc.
- 8.1.11 SenseMI
- 8.1.12 triMirror
- 8.1.13 Virtusize Co. Ltd.
- 8.1.14 Visualook
- 8.1.15 Reactive Reality AG
- 8.2 Recent Development & Impact Analysis, By Key Market Participants
- 8.3 Company Categorization
- 8.4 Participant's Overview
- 8.5 Financial Performance
- 8.6 Product Benchmarking
- 8.7 Company Heat Map Analysis
- 8.8 Key Company Market Share Analysis, 2022
- 8.9 Strategy Mapping
- 8.9.1 Partnership
- 8.9.2 Merger & Acquisition
- 8.9.3 New Product/Feature Launch
- 8.9.4 Expansion
Product Code: GVR-4-68039-334-2
List of Tables
- Table 1 Key market driver impact
- Table 2 Key market restraint impact
- Table 3 Global virtual fitting room market revenue estimates and forecast, by component, 2018 - 2030 (USD Million)
- Table 4 Global virtual fitting room market revenue estimates and forecast, by application, 2018 - 2030 (USD Million)
- Table 5 Global virtual fitting room market revenue estimates and forecast, by end-use, 2018 - 2030 (USD Million)
- Table 6 Company heat map analysis
- Table 7 Key companies undergoing partnerships
- Table 8 Key companies involved in merger & acquisition
- Table 9 Key companies involved in new product launch
- Table 10 Key companies involved in expansion
List of Figures
- Fig. 1 Virtual fitting room market segmentation
- Fig. 2 Information procurement
- Fig. 3 Data analysis models
- Fig. 4 Market formulation and validation
- Fig. 5 Data validating & publishing
- Fig. 6 Market snapshot
- Fig. 7 Segment snapshot
- Fig. 8 Industry snapshot
- Fig. 9 Virtual Reality market value, 2022 (USD Million)
- Fig. 10 Value chain analysis
- Fig. 11 Market dynamics
- Fig. 12 Virtual fitting room market: Porter's analysis
- Fig. 13 Virtual fitting room market: PESTEL analysis
- Fig. 14 Virtual fitting room market, by component, key takeaways, 2018 - 2030 Revenue (USD Million)
- Fig. 15 Virtual fitting room market, by component: market share, 2022 & 2030
- Fig. 16 Hardware market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 17 Software market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 18 Services market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 19 Virtual fitting room market, by application, key takeaways, 2018 - 2030 Revenue (USD Million)
- Fig. 20 Virtual fitting room market, by application: market share, 2022 & 2030
- Fig. 21 Apparels market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 22 Beauty and cosmetics market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 23 Eyewear market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 24 Footwear market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 25 Others market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 26 Virtual fitting room market, by end-use, key takeaways, 2018 - 2030 Revenue (USD Million)
- Fig. 27 Virtual fitting room market, by end-use: market share, 2022 & 2030
- Fig. 28 Physical stores market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 29 Virtual stores market estimates & forecasts, 2018 - 2030 (USD Million)
- Fig. 30 Virtual fitting room market by region, 2022 & 2030, Revenue (USD Million)
- Fig. 31 Regional marketplace: Key takeaways
- Fig. 32 North America virtual fitting room market estimates & forecast, 2018 - 2030 (USD Millions)
- Fig. 33 U.S. virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 34 Canada virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 35 Europe virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 36 U.K. virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 37 Germany virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 38 France virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 39 Spain virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 40 Italy virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 41 Russia virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 42 Asia Pacific virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 43 China virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 44 Australia virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 45 Japan virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 46 South Korea virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 47 Latin America virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 48 Brazil virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 49 Mexico virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 50 MEA virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 51 UAE virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 52 Saudi Arabia virtual fitting room market estimates & forecast, 2018 - 2030 (USD Million)
- Fig. 53 Key company categorization
- Fig. 54 Key company market share analysis, 2022
- Fig. 55 Strategy framework
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