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Virtual Fitting Room Market to Exhibit 20.6% CAGR till 2028; My Size, Inc. Launches SWEET FIT Interactive Virtual Fitting Mirror to Select Right Size of Clothing

August 17, 2021 | Information & Technology

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.”


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


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:



  • AstraFit (Kyiv, Ukraine)

  • Else Corp Srl (Milan, Italy)

  • FXGear Inc. (Seoul, South Korea)

  • Fit Analytics (Snapchat) (Berlin, Germany)

  • Fision AG (Zürich, Switzerland)

  • Magic Mirror LLC (New York, United States)

  • MemoMi Labs Inc. (California, United States)

  • Zugara Inc. (California, United States)

  • NeXR Technologies SE (Berlin, Germany)

  • Sizebay (Coimbra, Portugal)

  • My Size Inc. (Israel)

  • SenseMi ViuBox (Dubai)

  • Shandong Yashe Information Technology Co., Ltd. (Shandong)

  • Reactive Reality AG (Graz, Austria)

  • True Fit Corporation (Boston, United States)


A Notable Industry Development-



  • June 2020: My Size, Inc. introduced an interactive virtual fitting mirror called SWEET FIT. It is equipped with the MySizeID and uses AR technology to display a virtual outfit by scanning a customer’s figure. They can easily choose the perfect size of a particular brand on the basis of real-time body measurements.


Further Report Findings-



  • By applications, the apparels segment earned 34.8% and 33.2% in 2020 in terms of the virtual fitting room market share globally and in the U.S., respectively. This is set to remain at the forefront because of the surging trend of shopping for clothes online. Therefore, numerous fashion brands are using virtual try-on services to increase sales of their apparels section.

  • In 2020, North America held USD 1.18 billion in terms of revenue and dominate this industry throughout the forthcoming years. IBM Corporation, for instance, declared in its 2020 U.S. Retail Index report that the COVID-19 pandemic accelerated digital shopping by five years due to the rising demand for contactless shopping experiences.

  • Europe is estimated to stand in the second position on account of the expansion of the apparel and fashion industry in the region. The demand for virtual fitting room is also set to grow in this region because of the increasing online shopping trends in Italy, the U.K., and France.


The global market can be segmented into:


















































  ATTRIBUTE



  DETAILS



Study Period



  2017-2028



Base Year



  2020



Forecast Period



  2021-2028



Historical Period



  2017-2019



Unit



  Value (USD Billion)



Segmentation



  Component; Application; End-use; and Geography



By Component




  • Hardware

  • Software

  • Services



By Application




  • Apparel

  • Eyewear

  • Cosmetics & Beauty Products

  • Jewelry & Watches

  • Others



By End-use




  • Physical Store

  • Virtual Store



By Region




  • North America (By Component, By Application, By End Use, and By Country)

    • United States (By Application)

    • Canada (By Application)





  • Europe (By Component, By Application, By End Use, and By Country)

    • UK (By Application)

    • Germany (By Application)

    • France (By Application)

    • Italy (By Application)

    • Rest of Europe





  • Asia Pacific (By Component, By Application, By End Use, and By Country)


    • China (By Application)

    • Japan (By Application)

    • India (By Application)

    • Singapore (By Application)

    • Russia (By Application)

    • Rest of Asia Pacific




  • The Middle East & Africa (By Service, By Type, By Platform, and By Country)

    • GCC (By Application)

    • South Africa (By Application)

    • Rest of the Middle East & Africa





  • Latin America (By Component, 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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