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Virtual Fitting Room Market to Witness Prominent Growth with Expansion of the E-Commerce Sector

May 15, 2023 | Information & Technology

The global virtual fitting room market size is estimated to display strong growth by reaching USD 18.31 billion by 2030. Fortune Business Insights™ in its report titled “Virtual Fitting Room Market Size, Share & COVID-19 Impact Analysis, By Type (In-store Virtual Mirrors, App-based Body Scanners, and Sizing Surveys Backed by 3D Body Data), By Application (Apparel, Eyewear, Cosmetic & Beauty Products, Jewelry & Watches, and Others), By End-use (Brick-and-Mortar Stores and Virtual/E-commerce Stores), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 4.03 billion and is expected to reach USD 4.79 billion in 2023. The market is expected to witness a strong CAGR of 21.1% during 2023-2030. One of the prominent reason that ramped up the demand for the product is the rising inclination toward the adoption of mobile e-commerce.


Perfitly Announced its Collaboration with to Act Brand to Ease Shopping Experience


Perfitly announced its partnership with Germany/U.K.-based To Act Brand to incorporate a cutting-edge virtual fitting platform powered with Artificial Intelligence (AI) virtual fitting room solution to engage customers properly while increasing conversion and reducing return rates. The firm is also giving an option to its customers to virtually try-on and personalize by sizing up and down. This will surge the sustainability efforts in the fashion industry.


Closure of Retail Shops Obstructed the Market Growth


The COVID-19 outbreak has had an influential impact on the virtual fitting room market growth due to imposed trade restrictions, closure of retail shops, and non-delivery of items. Despite the exposure to COVID-19 cases, the market still has shown a great sign of recovery as more consumers start making use of digital and virtual methods of payments, which helps in increasing the sales of e-commerce. Meanwhile, to overcome the new challenges, prominent industry players are adopting multiple strategies to find better opportunities.


Adoption of Advanced Technologies to Increase the Product Demand


Growing concerns about online fashion retailers and the rising popularity of the e-commerce sector to lure a strong customer base are expected to thrive global market growth. Another reason that plunged the demand for the product is the rising emergence of social platforms such as Snapchat, Pinterest, Instagram, and TikTok to enhance their shopping experience. Meanwhile, high investments associated with the try-on concept could dent the growth of the market.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/virtual-fitting-room-vfr-market-100322


Key Players Investing in Developing Advanced New Technologies


Market players, such as TikTok, Snapchat, Pinterest, and Instagram, have been investing in reinventing their existing products as well as launching new products to fortify their market presence. To introduce new augmented reality shopping tools, Snapchat teamed up with Gucci and American Eagle.


Notable Industry Development



  • July 2022:  Hugo Boss partnered with Reactive Reality to launch a 3D digital dressing room technology on its website, a virtual try-on platform. This collaboration could bring noteworthy advancements in the fashion industry and demonstrates customers some creative ways using, which they can interact online store effectively and boots the retail industry's future.


List of Key Companies Profiled in the Report:



  • Else Corp (Italy)

  • Fit Analytics (Snapchat) (Germany)

  • FX Gear Inc. (South Korea)

  • Magic Mirror (U.K.)

  • MeMo Labs Inc. (U.S.)

  • 3DLOOK Inc. (U.S.)

  • Zugara, Inc. (U.S.)

  • Visual Look (Spain)

  • triMirror (U.S.)

  • Sensemi DMCC (UAE)


Further Report Findings



  • The market in North America stood at USD 1.59 billion in 2022 and captured the maximum virtual fitting room market share. The dominance is attributed on account of rising advanced technologies in the retail sector and e-commerce stores.

  • Europe will likely have a moderate CAGR owing to the acceptance of high-tech virtual fitting room solutions in their stores.

  • Asia Pacific is experiencing the highest CAGR due to the adoption of novel technologies such as VR, AI technologies, and AR in shopping stores to enhance user experience.


Table of Segmentation 


























































  ATTRIBUTE



  DETAILS



Study Period



2019–2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023–2030



Historical Period



2019–2021



Growth Rate



CAGR of 21.1% from 2023 to 2030



Unit



Value (USD billion)



Segmentation



By Type, Application, End-use, and Region



By Type




  • In-store Virtual Mirrors

  • App-based Body Scanners

  • Sizing Surveys Backed by 3D Body Data



By Application




  • Apparel

  • Eyewear

  • Cosmetic & Beauty Products

  • Jewelry & Watches

  • Others (Footwear)



By End-use




  • Brick-and-Mortar Stores

  • Virtual/E-commerce Stores



By Region




  • North America (By Type, By Application, By End-use, and By Country)

    • U.S. (By Application)

    • Canada (By Application)





  • Europe (By Type, By Application, By End-use, and By Country)

    • U.K. (By Application)

    • Germany (By Application)

    • France (By Application)

    • Italy (By Application)

    • Rest of Europe





  • Asia Pacific (By Type, By Application, By End-use, and By Country)


    • China (By Application)

    • Japan (By Application)

    • India (By Application)

    • Singapore (By Application)

    • Rest of Asia Pacific




  • Middle East & Africa (By Type, By Application, By End-use, and By Country)

    • GCC (By Application)

    • South Africa (By Application)

    • Rest of Middle East & Africa





  • Latin America (By Type, By Application, By End-use, and By Country)

    • Brazil (By Application)

    • Mexico (By Application)

    • Rest of Latin America




Virtual Fitting Room (VFR) Market
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  • 2023
  • 2019-2022
  • 126

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