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Virtual Fitting Room Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

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Global Virtual Fitting Room Market is calculated to value over USD 7.8 Billion by 2026 end and register a CAGR of over 20% during the forecast period of 2019 to 2026. E-commerce and retail companies are massively investing in virtual fitting room so
Virtual Fitting Room Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2026
Global Virtual Fitting Room Market is calculated to value over USD 7.8 Billion by 2026
end and register a CAGR of over 20% during the forecast period of 2019 to 2026.
E-commerce and retail companies are massively investing in virtual fitting room
solutions in order to reduce inefficiency, wastage of time and inventory costs. By
implementing this system, e-commerce and retail companies can offer ads based on
the online activity of the user. Additionally, buying and selling and personalized
retargeting can be enabled in real-time. These are some of the key factors
responsible for the growth of the virtual fitting room market.
With advancements in AR and VR technology, the end-users are expecting to gain
experience of virtual surroundings in various applications and that is driving the
market further. Moreover, retailers and e-commerce companies are striving hard to
keep the apparel exchange and return rate as low as possible and are trying to
increase the rate of conversion which is helping the market grow even more.
Increased online shopping is another factor that drives the global market further.
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Insights on Global Virtual Fitting Room Market:
1. By Region
• North America
• Europe
• Asia Pacific
North America is the major shareholder of the global market due to the adoption of
advanced internet-based services in the region. It is then followed by Europe as
adopting and implementing these advanced technologies is an easy task for
developed economies.
Asia Pacific region has a huge potential for the market to grow as there has been a
significant rise in online shopping. Additionally, e-commerce and retailing companies
are investing heavily in virtual surrounding solutions in the region which boosts the
market further and it is anticipated that this market region will gain significant
traction during the forecast period.
2.
•
o
o
By Component
Hardware
Prefabricated
Customised
• Software
o Firmware/Platform
o Mobile Application
• Services
o Consulting
o Integration
o Maintenance
The software segment has the potential to dominate the market, especially in the
mobile application sector owing to high usage of smartphones across the world.
Similarly, there is a rising demand for software platform solutions as well and this is
due to the ease of access that these platforms provide. All these factors will surely
help the software segment grow rapidly during the forecast period.
3. By End-User
• Physical Store
• Virtual Store
The physical store segment dominates this market as there has been a rise in the
application of virtual fitting rooms in physical stores. Virtual stores have great
potential for market growth but the apparel return rate is more in the case of the
virtual store which might restrain the market growth.
4.
•
•
•
•
By Use Cases
Apparel
Eye Wear
Jewellery & Watches
Beauty & Cosmetics
The apparel segment dominates the market and is anticipated to grow at the highest
CAGR during the forecast period as shoppers can get an idea as to how the
accessories and apparels look on them without trying them out physically. It is
helpful to retailers for consumer engagement.
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Competitive Landscape:
• Metail Ltd.
• AstraFit
• True Fit
• Magic Mirror
• Zugara Inc.
• Visuallook
• 3D-A-PORTER
Metail and Princess Polly established a partnership in May 2017 which helped Metail
enter the Australian market enabling shoppers to try clothes online. This partnership
has helped Metail strengthen their market position globally as well.
Zugara uses computer vision technologies and AR for user interaction. Additionally,
Zugara has important patents from the AR sector under their belt.
True Fit secured funding of USD 55 million in January 20118 which would help them
develop their own AI data platform and innovate out of the analytical solutions that
it provides. Chabot virtual stylist and visualization enhancement are some of the
services that the company can offer.
FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global virtual fitting room market
by region, by component, by end-user, by use cases
• To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America,
Europe and the Asia Pacific
• To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
Table of Contents
1: Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders
2: Introduction
2.1 Research Data
3: Executive Summary
4: Premium Insights
4.1 Attractive Market Opportunities in the Market
4.2 Market: Top 3 Use Cases
4.3 Market: By Region
4.4 Market in North America, By End User and Region
5: Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Key Acquisitions in the Last Few Years
5.4 Regulatory Implications
6: Market, By Component
6.1 Introduction
6.2 Hardware
6.3 Software
6.4 Services
7: Market, By End User
7.1 Introduction
7.2 Physical Store
7.3 Virtual Store
8: Virtual Fitting Room Market, By Use Case
8.1 Introduction
8.2 Apparel
8.3 Accessories
8.4 Eyewear
8.5 Jewelry and Watches
8.6 Beauty and Cosmetics
8.7 Others
9: Geographic Analysis
9.1 Introduction
9.2 North America
9.3 Europe
9.4 Asia Pacific
9.5 Middle East and Africa
9.6 Latin America
10: Competitive Landscape
10.1 Start-Up Micro Quadrant
10.2 Strength of Product Portfolio
10.3 Business Strategy Excellence
11: Company Profiles
11.1 Metail
11.2 Zugara
11.3 True Fit
11.4 Total Immersion
11.5 3D-A-Porter
11.6 Magic Mirror
11.7 AstraFit
11.8 Fit Analytics
11.9 Visualook
11.10 ELSE Corp
11.11 FXGear
11.12 Sizebay
11.14 Memomi
11.15 Sensemi
11.16 Fision Technologies
11.17 Coitor IT Tech
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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