Virtual Fitting Room Market (Updated Version Available)

Key Market Overview:

The Virtual Fitting Room Market was valued at USD 4,030 Million in 2022, registering a CAGR of 20.5% during the forecast period (2023-2030), and the market is projected to be worth USD 15047.58 Million by 2030.

Virtual fitting room is referred as a technology which articulate realistic impressions and offers fascinating experience to the customers. Virtual fitting room is considered as collaborative platform between customers and fashion brands, resulting to accelerate the demand of virtual fitting room in fashion retail industry. Increasing number of fashion brands set up variety of options for customers to choose from. Virtual fitting room have potential benefits which attract online customers to fashion retailers. Thus, fashion retailers tend to invest significantly in virtual fitting room technologies. The latest technologies such as high-definition lenses, high quality smartphone cameras and smart mirrors are boosting the growth of virtual fitting room market.

Virtual fitting room is unable to detect the whole human body structure which is limiting the growth of virtual fitting room market. Moreover, erratic internet speeds hinder tracking accuracy which hamper the growth of virtual fitting room market. To overcome this, technologies are upgraded to enhance the visualization and improve accuracy which helps to drive the growth of virtual fitting room market.

Furthermore, companies are seeking for strategic alliances and collaboration to increase customer reach. For instance, in May 2022, Snapchat in collaboration with Gucci and American Eagle, introduced new AR solution for virtual shopping. The solution includes Snap\\\'s 3D asset manager, camera kit for virtual shopping, and dress up tool.

Virtual Fitting Room Report Coverage:

Report Attributes	Report Details
Study Timeline	2017-2030
Market Size in 2030 (USD Million)	15047.58 million
CAGR (2022-2030)	20.5 %
Base Year	2022
By Component	Hardware, Software, and Services
By Application	Apparel, Beauty and Cosmetics, Footwear, Eyewear, and Others
By End-User	Virtual store and Physical store
By Geography	Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru]
Key Players	AstraFit, Else Corp Srl, True Fit Corporation, MemoMi Labs Inc., Fit Analytics, FXGear Inc., Magic Mirror, Metail, Zugara, Fision Technologies, Coitor IT Tech.

Request Sample

Market Dynamics:

Driver:

Increasing fashion brands and growing adoption of mobile commerce is boosting the growth of virtual fitting room market.

Increasing fashion brands and growing adoption of mobile commerce is boosting the growth of virtual fitting room market.
Increasing number of fashion brands set up variety of options for customers to choose from. Several retailers such as Amazon, Shopify, and Walmart provide virtual dressing room apps with virtual trials of outfits for customers which drive the market of virtual fitting room. Additionally, by creating personal avatars on social media platform including TikTok, Snapchat, Pinterest, and Instagram, customers are gaining virtual dressing experience helps to boost the growth of virtual fitting room market.

Restraint:

Expensive installation of virtual try-on is hampering the growth of virtual fitting room market.

Expensive installation of virtual try-on is hampering the growth of virtual fitting room market.
Virtual fitting room is expensive technology for small enterprises. Several factors of virtual fitting room such as smart mirrors, creating 3D assets, artificial intelligence (AI) and incorporating augmented reality are expensive technologies to implement in small enterprises. Additionally, virtual fitting room is unable to detect the whole human body structure which is limiting the growth of virtual fitting room market. Moreover, erratic internet speeds hinder tracking accuracy thus hampering the growth of virtual fitting room market.

Virtual Fitting Room Market Segmentation:



By Component:

The Component segment is categorized into Hardware, Software, and Services.
Software segment accounted major market share for virtual fitting room owing to rising adoption of software for virtual dressing room technology. Software is considered as core of virtual fitting room technology aims to increase the customer base. Rising adoption of software tools and platforms are driving the growth of virtual fitting room market.
Software segment is expected to grow during the forecast period due to recent advancements in software solutions including 3D stimulation, 360°visualization and artificial intelligence (AI) for virtual fitting room.

By Application:

The Application segment is divided into Apparel, Beauty and Cosmetics, Footwear, Eyewear, and Others.
Apparel segment holds largest revenue share for virtual fitting room market due to rising adoption of virtual try-on software by clothing industry. For instance, in September 2022, Walmart acquired Zeekit to introduce new virtual try-on to enhance customer experience.
Eyewear segment is projecting to showcase rapid growth of virtual fitting room market owing to rising adoption in eyewear industry to select frames virtually.

By End-User

The End-User segment is bifurcated into Virtual store and Physical store.
Virtual store segment captured major market share for virtual fitting room market due to rising demand of e-commerce sector. Virtual fitting room technology helps the users to make better purchasing decision from online retailers. Virtual store offers online platform for virtual dressing owing to wide portfolios, product comparison and hassle-free purchases.

Physical store is anticipated to witness rapid growth of virtual fitting room market due to rising adoption of advanced technologies to improve sales. The availability of smart mirrors, and advanced interactive screens aid to increase the number of customers for physical store. Implementation of virtual fitting room technology for physical store boost the sales and improve efficiency of physical store.

By Region

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America holds major share of virtual fitting room market due to maximum number of smartphone users. In this region retailers are focusing on implementation of virtual fitting room to target large number of customers to drive the virtual fitting room market. Additionally, retailers are focusing on acquisition to increase the customer base and brand building. For instance, in August 2021, GAP, an apparel retailer acquired Drapr, an e-commerce startup to develop virtual fitting room technology.



Asia Pacific region is anticipating significant growth for virtual fitting room market. Increasing demand for advanced solutions and rising adoption of virtual fitting room for fascinating virtual dressing experience tend to boost the growth of virtual fitting room market. Additionally, Asia Pacific region leads ecommerce sector owing to presence of India, China, Japan, and South Korea. For instance, China accounted 38% of the global fashion industry from past 10 years.

Virtual Fitting Room Market Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and application launches have accelerated the growth of the Global Virtual Fitting Room Market. Key players in the market include-

• AstraFit â€\" USA
• Else Corp Srl - Italy
• True Fit Corporation â€\" USA
• MemoMi Labs Inc. â€\" USA
• Fit Analytics â€\" Germany
• FXGear Inc. â€\" Korea
• Magic Mirror â€\" UK
• Metail â€\" UK
• Zugara â€\" USA
• Fision Technologies â€\" Switzerland
• Coitor IT Tech â€\" India

Recent Developments:

• In June 2021, Vue.ai introduced Vuemodel dressing room for customers. The tool enables the customers to visualize item on model to select relevant product.

• In May 2021, SenseMi launched ViuBox Eye and ViuBox Switch, an AI-based solution, for e-commerce fashion industry.