A recent report published by
Infinium Global Research on the virtual fitting room market provides in-depth
analysis of segments and sub-segments in the global as well as regional virtual
fitting room market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional virtual fitting
room market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecasts, and dollar values of the global
virtual fitting room market. According to the report, the global virtual
fitting room market is projected to grow at a CAGR of 21.80% over the forecast
period of 2020-2026.
Market Insight
Virtual fitting room enables apparel
businesses to offer their customers more detailed sizing information to make
enhanced clothing purchases online. Retailers can allow customers to create a
size profile or create custom sizing charts for their clothing items that will
suggest items with the best fit. Apparel businesses can integrate virtual
fitting software into their e-commerce platform or in-store kiosks to improve
customer experience. The virtual fitting room gives customers the opportunity
to virtually dress their personal avatar, in a fully interactive 3D Virtual
Dressing Room. VFR dressing solution allocates customers to explore the size
and fit as well as to assess different outfits in real-time.
The growing adoption of advanced
technologies, such as AR and VR, to offer a superior shopping experience to
customers is a primary driving factor for the virtual fitting room market.
Furthermore, the modern world is a digital world and the number of active
internet users across the globe is increasing rapidly. The augmented reality
makes advertising more interactive and allows a new way of interaction between
the consumers and marketers & advertisers. The adoption of innovative
technologies such as IoT, VR, and automation is anticipated to augment market
growth in the future. Also, the e-commerce shopping industry has a
comparatively higher rate of returns and apparel exchanges due to improper
fitting and size. This virtual fitting room technology is being initiated to
reduce this exchange and return rate and augment the online shopping experience
by various online retailers. These advantages further stimulate the growth of
the virtual fitting room market size. However, Complexities in Real-Time
Control hamper market growth. Complexities between the virtual computerized
world and the real physical world of the virtual fitting room market restrain
the market. Moreover, the growing number of startups to raise funds in the
virtual fitting room market-creating growth opportunities. Furthermore, the
spread has novel coronavirus has had a significant influence on the retail
& fashion industry around the world. Many fashion designers and designer
houses have stopped their production, which has collaterally damaged the supply
chain and the industry. The industries have started to reform their business
model for 2021, and many small fashion designers and large fashion houses have
stopped or suspended any new technology upgrade in their production units or
retail stores to recover from the losses caused by the global lockdown and
economic slowdown.
In terms of region, North America
is anticipated to dominate the Virtual fitting room market over the forecast
period. The growing adoption of advanced technologies such as advanced
analytics, virtual and augmented reality, advanced robotics, and artificial intelligence
by the retail chains is majorly driving the growth of the North America Virtual
fitting room market. Moreover, the government and private organizations are
investing heavily in R&D for developing advanced VR systems. On the other
hand, the Asia Pacific Virtual fitting room market is anticipated to grow with
the fastest CAGR over the forecast period. The market growth in the Asia
Pacific is attributed to rapid globalization, urbanization, and improving
economic conditions. Furthermore, the governments in countries including China
and India are promoting the development in the field of AI and Machine
Learning, which in turn, augments the growth of the market in the Asia Pacific.
The report on the global virtual
fitting room market covers segments such as component and end user. On the
basis of component, the sub-markets include hardware, software, and services.
On the basis of end user, the sub-markets include e-commerce, and physical
store.
The report provides profiles of
the companies in the market such as Zugara, Inc., Visualook, True Fit
Corporation, Virtusize AB, SIZEBAY, REACTIVE REALITY GMBH, Secret Sauce
Partners, Imaginate Technologies Inc, Fit Analytics GmbH, and Fitnect
Interactive.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the virtual fitting room market. Moreover, the study highlights current
market trends and provides forecasts from 2020-2026. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.