According
to the new market research "Virtual Fitting Room Market
by Component (Hardware (Prefabricated & Customized), Software and
Services), End-User (Physical Store & Virtual Store), Use Cases (Apparel,
Eye Wear, Jewelry & Watches, Beauty & Cosmetics), Region - Global
Forecast to 2024",published by MarketsandMarkets™,
the virtual fitting room market size to
grow from USD 2.9 billion in 2019 to USD 7.6 billion by 2024, at a Compound
Annual Growth Rate (CAGR) of 20.9% during the forecast period.
The virtual fitting room market is said to have a potential
scope for growth in the years to come due to the digitalization, increase in
the IT spend, increasing adoption of new technologies by retail brands.
Browse and
in-depth TOC on "Virtual Fitting Room Market"
64
- Tables
28
- Figures
118
- Pages
Apparel segment is expected to grow with the highest CAGR during
the forecast period
The use
cases segment is sub-segmented as apparel, accessories, eye wear, jewelry and
watches, beauty and cosmetics, and others (footwear, furniture, and decor).
Among these segments, apparel is expected to grow with the highest CAGR. Using
virtual fitting room solutions, apps, and software shoppers can get a feel of
how the apparels and accessories look on them without physically wearing it.
Retailers can do their promotions directly to the consumers and engage them
using virtual fitting room solutions.
Virtual fitting room software to have the largest market size
during the forecast period
The virtual
fitting room market by component has 3 segments: hardware, software, and
services. The software segment is expected to have the largest market share
during the forecast period because of the increase in the use of virtual
fitting room solutions in physical stores and virtual stores.
North America to hold the largest market size during the forecast
period
North
America is expected to hold the largest market size during the forecast period.
In North America, the growth rate can be attributed to various factors
including the adoption of advanced technologies, economic developments,
increasing customer demand, and high investments by virtual fitting room
solution providers.
The virtual
fitting room market report provides competitive landscape and company profiles
of the key vendors by their product offerings and business strategies. Major
vendors in the global virtual fitting room market include Zugara (US), Total
Immersion (France), True Fit (US), Metail (UK), 3D-A-PORTER (UK), Magic Mirror
(UK), AstraFit (US), Fit Analytics (Germany), Visualook (Spain), ELSE Corp
(Italy), FXGear (Korea), Sizebay (Brazil), triMirror (US), MemoMi (US), SenseMi
(UAE), Fision Technologies (Switzerland), and Coitor IT Tech (India).
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