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The global virtual fitting room market size is projected to grow from USD 3.50 billion in 2021 to USD 12.97 billion in 2028. The introduction of novel AR features by companies would provide customers with interactive features, such as gamification, product information, content, and augmented environments. Kohl, for instance, launched AR Virtual Closet to help customers try on clothes before buying. They can effectively go inside stores and try them virtually. As per a report by Fortune Business Insights™, titled, “Virtual Fitting Room Market Size, Share and COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Application (Apparel, Eyewear, Beauty & Cosmetic Products, Jewelry & Watches, and Others), By End-use (Physical Stores and Virtual Store), and Regional Forecast, 2021-2028,” the market stood at USD 2.97 billion in 2020. It is set to exhibit a CAGR of 20.6% during the forecast period in 2021-2028.
Zalando SE Acquires Fision to Offer Unique Body Scanning App and Fitting Rooms
In October 2020, Zalando SE, an e-commerce company headquartered in Germany, acquired Fision, a reputed software firm based in Zurich. The latter would provide state-of-the-art virtual fitting rooms and body scanning app to the former to enable customers to easily check whether apparel would fit their body. Zalando wants to invest in innovative technologies to solve size-related issues that customers often face while shopping for garments online. As per one of the company officials, “This new investment would help us to deliver the best customer experience. It would also strengthen our capabilities and make us one of the most prominent companies in the fashion industry.”
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Increasing Number of Features in Virtual Fitting Rooms to Augment Growth
The boost online platform sales and offer confidence, numerous online retailers are providing virtual try-ons to their customers. They can help customers to analyze the product virtually before purchasing. At the same time, retailers are equipping these platforms with various unique tools, such as comparison, screen sharing, video chatting, and similar others to attract more customers. However, a survey by PushOn stated that 82% shoppers find it difficult to buy a product online without touching. Also, many times, they are unable to find out the right size and order the wrong product. It may hamper the virtual fitting room market growth in the near future.
Key Companies Aim to Acquire Technology Providers to Intensify Competition
The market houses several small, medium, and large companies. Most of them are striving persistently to provide better service to their customers present in both offline and online stores. To do so, they are partnering up or acquiring start-up companies and other technology providers to integrate their solutions for intensifying competition.
Fortune Business Insights™ lists out the names of renowned manufacturers of virtual fitting room operating in the global market. They are as follows:
A Notable Industry Development-
Further Report Findings-
The global market can be segmented into:
Value (USD Billion)
Component; Application; End-use; and Geography