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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

  • ID: 4764017
  • Report
  • Region: Global
  • 119 Pages
  • Markets and Markets
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Virtual Fitting Market Size to Grow from USD 2.9 Billion in 2019 to USD 7.6 Billion by 2024, at a CAGR of 20.9%

FEATURED COMPANIES

  • 3D-A-Porter
  • Coitor IT Tech
  • Fision Technologies
  • FXGear
  • Memomi
  • Sensemi
  • MORE

"The virtual fitting market to grow at a Compound Annual Growth Rate (CAGR) of 20.9% during the forecast period"

The author forecasts the virtual fitting market size to grow from USD 2.9 billion in 2019 to USD 7.6 billion by 2024, at a CAGR of 20.9% during 2019-2024. The major growth factor for the market is the increase in the adoption of advanced technologies such as AR and VR. Complexities between the virtual computerized world and the real physical world of the virtual fitting room market may restrain the market growth.

"By Component, software to grow at the highest rate during the forecast period"

The virtual fitting market by component is segmented into hardware, software, and services. Among these, software is expected to grow at the highest rate during the forecast period, owing to the increasing ecommerce. The software is further segmented into software tools and platforms. Whereas, hardware is further segmented into prefabricated and customized. Services include integration, support, and consulting. Among these, support services are expected to grow at the fastest rate, as virtual fitting room solutions and services are more effectively being used in the retail and eCommerce vertical to deliver a personalized experience to users.

"Apparel use cases to grow at the highest rate during the forecast period"

The virtual fitting room market by use cases is segmented into apparel, accessories, eyewear, jewelry and watches, beauty and cosmetics, and others. Among these, apparel is expected to grow at the highest rate, as virtual fitting room platform and solutions are effectively being used in the eCommerce to deliver enhanced customer buying journey, with reduced return rates.

"Among regions, APAC is expected to grow at the highest CAGR during the forecast period"

The virtual fitting room market by region is segmented into North America, Europe, APAC, MEA, and Latin America. Among these region, APAC is expected to grow at a higher CAGR due to the increasing adoption of advanced technologies such as AR and VR among retailers. The major APAC countries that are expected to record high growth rates include China, Japan, and India. However, this region demands skilled retailers to close the skill gaps and adopt effective infrastructure services, new digital technologies for enhanced customer experience, and better business operations. The growth in this region is expected to be driven by the presence of half of the world’s mobile users, the highest online shoppers, and increasing internet connection and speed.

Whereas, North America is expected to contribute maximum in terms of market size during the forecast period. There are various factors that are contributing to the growth of the market in North America, that include the growing use of smartphones and the adoption of AR and VR. Furthermore, the time people spent on mobile applications and shopping online is also growing at a considerable rate. This is further expected to boost the demand for virtual fitting room solutions across the region.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the virtual fitting room market.

By Company: Tier I: 15 %, Tier II: 39%, and Tier III: 46%
By Designation: C-Level: 55%, Director Level: 29%, and Others: 16%
By Region: North America: 39%, Europe: 27%, APAC: 24%, MEA: 9%, and Latin America: 1%

The report includes the study of the key players offering virtual fitting room solutions. It profiles major vendors in the global virtual fitting room market. Some of them 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). It also includes an in-depth competitive analysis of the key virtual fitting market players, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.

Research Coverage

The report segments the global virtual fitting room market by component, end user, use cases and regions. The use cases segment includes apparel, accessories, eyeware, jewelry and watches, beauty and cosmetics, and others (footwear, furniture and decor). The component segment comprises hardware, software, and services. The virtual fitting room market by software has been segmented into software tools and platforms. The market based on hardware is divided into prefabricated and customized. The report covers the virtual fitting room market with respect to 5 major regions, namely North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America.

Key benefits of buying the report

The report would help the market leaders and new entrants in the global virtual fitting room market in the following ways:

1. The report segments the market into various subsegments, hence it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split across applications and regions.

2. It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.

3. It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.

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FEATURED COMPANIES

  • 3D-A-Porter
  • Coitor IT Tech
  • Fision Technologies
  • FXGear
  • Memomi
  • Sensemi
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders

2 Introduction
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup of Primary Profiles
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
2.5 Research Assumptions
2.6 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Market
4.2 Market: Top 3 Use Cases
4.3 Market: By Region
4.4 Market in North America, By End User and Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Adoption of Advanced Technologies, Such as AR and VR, to Offer Better Shopping Experience to Customers
5.2.1.2 Increasing Focus on R&D Activities
5.2.1.3 Trend of Online Shopping Increasing the Demand for Virtual Fitting Room Technologies in Retail and eCommerce
5.2.2 Restraints
5.2.2.1 Complexities in Real-Time Control
5.2.3 Opportunities
5.2.3.1 Increasing Number of Partnerships
5.2.3.2 Growing Number of Startups to Raise Funds in the Virtual Fitting Room Market
5.2.4 Challenges
5.2.4.1 Developing User-Friendly Virtual Fitting Room Solutions
5.3 Key Acquisitions in the Last Few Years
5.4 Regulatory Implications
5.4.1 General Data Protection Regulation
5.4.2 Simulation Interoperability Standards Organisation
5.5 Use Cases
5.5.1 Use Case: Scenario 1
5.5.2 Use Case: Scenario 2
5.5.3 Use Case: Scenario 3
5.5.4 Use Case: Scenario 4
5.5.5 Use Case: Scenario 5

6 Market, By Component
6.1 Introduction
6.2 Hardware
6.2.1 Prefabricated
6.2.1.1 Virtual Mirrors to Be Major Hardware Segment in the Market
6.2.2 Customized
6.2.2.1 Adoption of Customized Virtual Mirrors Based on the AR Technology By Major Retailers to Drive the Market
6.3 Software
6.3.1 Software Tools
6.3.1.1 Plugins Continue to Be Widely Used Software Components in the Market
6.3.2 Platforms
6.3.2.1 3D Body and Face Scanning to Boost the Adoption of Virtual Fitting Room Software
6.4 Services
6.4.1 Consulting
6.4.1.1 Technicalities Involved in Implementing Virtual Fitting Room Solutions and Platform to Boost the Growth of Consulting Services
6.4.2 Integration Services
6.4.2.1 Integration and Installation Services to Gain Traction in Coming Years
6.4.3 Support Services
6.4.3.1 Growing Deployment of Edge and AI Solutions to Drive Support and Maintenance Services

7 Market, By End User
7.1 Introduction
7.2 Physical Store
7.3 Virtual Store

8 Virtual Fitting Room Market, By Use Case
8.1 Introduction
8.2 Apparel
8.2.1 Online Shopping to Play Key Role in the Adoption of Virtual Fitting Room Solutions
8.3 Accessories
8.3.1 Low Time Utilization to Boost Growth of Virtual Fitting Room Solution in Accessories
8.4 Eyewear
8.4.1 Demand for Personalization to Play A Significant Role in Eyewear Use Cases
8.5 Jewelry and Watches
8.5.1 Virtual Fitting Room to Provide Better Targeting Capabilities to Jewellers
8.6 Beauty and Cosmetics
8.6.1 Virtual Fitting Room to Help Travel and Luxury Enterprises Increase the Visibility of Offers
8.7 Others

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 United States
9.2.1.1 Rapid Growth of eCommerce to Lead High Adoption of Virtual Fitting Room Solutions
9.2.2 Canada
9.2.2.1 Increasing Awareness About AR Technology Among Retailers to Drive the Adoption of Virtual Fitting Room in Canada
9.3 Europe
9.3.1 United Kingdom
9.3.1.1 Increasing Digitization of Fashion to Boost the Demand for Retail Fitting Room Solutions in the Country
9.3.2 Germany
9.3.2.1 Increasing Online Returns of Products to Fuel the Adoption of Virtual Fitting Room Solutions in Germany
9.3.3 France
9.3.3.1 Growing eCommerce Encouraging Retailers to Integrate Virtual Fitting Room Solutions
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.1.1 Demand for Enhanced Customer Experience Throughout the Buying Journey Among Clients to Drive the Market
9.4.2 Japan
9.4.2.1 Virtual Fitting Room Solution Providers’ Growing Focus in Japan to Drive Market Growth
9.4.3 India
9.4.3.1 Companies Expanding and Collaborating to Grow Their Business in India
9.4.4 Rest of Asia Pacific
9.5 Middle East and Africa
9.5.1 United Arab Emirates
9.5.1.1 On-The-Go Installation of Virtual Fitting Gadgets Across Fashion Stores to Boost Demand for Virtual Fitting Room Solutions
9.5.2 Israel
9.5.2.1 Increasing Research and Development to Instigate the Need for Virtual Fitting Room Technology for Retailers
9.5.3 Rest of Middle East and Africa
9.6 Latin America
9.6.1 Brazil
9.6.1.1 Emerging Startups in Brazil to Drive the Virtual Fitting Room Market
9.6.2 Mexico
9.6.2.1 Growing Use of Various Technologies to Achieve A Customers' Realistic Clothing Choice Based Prediction in Mexico to Create the Demand for Virtual Fitting Room Solutions
9.6.3 Rest of Latin America

10 Competitive Landscape
10.1 Start-Up Micro Quadrant
10.1.1 Progressive Companies
10.1.2 Responsive Companies
10.1.3 Dynamic Companies
10.1.4 Starting Blocks
10.2 Strength of Product Portfolio
10.3 Business Strategy Excellence

11 Company Profiles
(Business Overview, Solutions/Products/Platforms Offered, Recent Developments, SWOT Analysis, and View)*
11.1 Metail
11.2 Zugara
11.3 True Fit
11.4 Total Immersion
11.5 3D-A-Porter
11.6 Magic Mirror
11.7 AstraFit
11.8 Fit Analytics
11.9 Visualook
11.10 ELSE Corp
*Details on Business Overview, Solutions/Products/Platforms Offered, Recent Developments, SWOT Analysis, and View Might Not Be Captured in Case of Unlisted Companies.
11.11 FXGear
11.12 Sizebay
11.13 Trimirror
11.14 Memomi
11.15 Sensemi
11.16 Fision Technologies
11.17 Coitor IT Tech

List of Tables
Table 1 United States Dollar Exchange Rate, 2015-2018
Table 2 Factor Analysis
Table 3 Global Market Size and Growth Rate, 2017-2024 (USD Million and Y-O-Y%)
Table 4 Virtual Fitting Room Market Size, By Component, 2017-2024 (USD Million)
Table 5 Hardware: Market Size, By Type, 2017-2024 (USD Million)
Table 6 Hardware: Market Size, By Region, 2017-2024 (USD Million)
Table 7 Prefabricated Market Size, By Region, 2017-2024 (USD Million)
Table 8 Customized Market Size, By Region, 2017-2024 (USD Million)
Table 9 Software: Market Size By Type, 2017-2024 (USD Million)
Table 10 Software: Market Size By Region, 2017-2024 (USD Million)
Table 11 Software Tools Market Size, By Region, 2017-2024 (USD Million)
Table 12 Platforms Market Size, By Region, 2017-2024 (USD Million)
Table 13 Services: Market Size By Type, 2017-2024 (USD Million)
Table 14 Services: Market Size By Region, 2017-2024 (USD Million)
Table 15 Consulting Market Size, By Region, 2017-2024 (USD Million)
Table 16 Integration Services Market Size, By Region, 2017-2024 (USD Million)
Table 17 Support Services Market Size, By Region, 2017-2024 (USD Million)
Table 18 Virtual Fitting Room Market Size, By End User, 2017-2024 (USD Million)
Table 19 Physical Store: Market Size By Region, 2017-2024 (USD Million)
Table 20 Virtual Store: Market Size By Region, 2017-2024 (USD Million)
Table 21 Virtual Fitting Room Market Size, By Use Case, 2017-2024 (USD Million)
Table 22 Apparel: Market Size By Region, 2017-2024 (USD Million)
Table 23 Accessories: Market Size By Region, 2017-2024 (USD Million)
Table 24 Eyewear: Market Size By Region, 2017-2024 (USD Million)
Table 25 Jewelry and Watches: Market Size By Region, 2017-2024 (USD Million)
Table 26 Beauty and Cosmetics: Market Size By Region 2017-2024 (USD Million)
Table 27 Others: Market Size By Region, 2017-2024 (USD Million)
Table 28 Virtual Fitting Room Market Size, By Region, 2017-2024 (USD Million)
Table 29 North America: Market Size By Component, 2017-2024 (USD Million)
Table 30 North America: Market Size By Hardware, 2017-2024 (USD Million)
Table 31 North America: Market Size By Software, 2017-2024 (USD Million)
Table 32 North America: Market Size By Service, 2017-2024 (USD Million)
Table 33 North America: Market Size By End User, 2017-2024 (USD Million)
Table 34 North America: Market Size By Use Case, 2017-2024 (USD Million)
Table 35 North America: Market Size By Country, 2017-2024 (USD Million)
Table 36 Europe: Virtual Fitting Room Market Size, By Component, 2017-2024 (USD Million)
Table 37 Europe: Market Size By Hardware, 2017-2024 (USD Million)
Table 38 Europe: Market Size By Software, 2017-2024 (USD Million)
Table 39 Europe: Market Size By Services, 2017-2024 (USD Million)
Table 40 Europe: Market Size By End User, 2017-2024 (USD Million)
Table 41 Europe: Market Size By Use Cases, 2017-2024 (USD Million)
Table 42 Europe: Market Size By Country, 2017-2024 (USD Million)
Table 43 Major Eretailers in Europe
Table 44 Asia Pacific: Virtual Fitting Room Market Size, By Component, 2017-2024 (USD Million)
Table 45 Asia Pacific: Market Size By Hardware, 2017-2024 (USD Million)
Table 46 Asia Pacific: Market Size By Software, 2017-2024 (USD Million)
Table 47 Asia Pacific: Market Size By Service, 2017-2024 (USD Million)
Table 48 Asia Pacific: Market Size By End User, 2017-2024 (USD Million)
Table 49 Asia Pacific: Market Size By Use Case, 2017-2024 (USD Million)
Table 50 Asia Pacific: Market Size By Country, 2017-2024 (USD Million)
Table 51 Middle East and Africa: Virtual Fitting Room Market Size, By Component, 2017-2024 (USD Million)
Table 52 Middle East and Africa: Market Size By Hardware, 2017-2024 (USD Million)
Table 53 Middle East and Africa: Market Size By Software, 2017-2024 (USD Million)
Table 54 Middle East and Africa: Market Size By Service, 2017-2024 (USD Million)
Table 55 Middle East and Africa: Market Size By End User, 2017-2024 (USD Million)
Table 56 Middle East and Africa: Market Size By Use Case, 2017-2024 (USD Million)
Table 57 Middle East and Africa: Market Size By Sub-Region, 2017-2024 (USD Million)
Table 58 Latin America: Virtual Fitting Room Market Size, By Component, 2017-2024 (USD Million)
Table 59 Latin America: Market Size By Hardware, 2017-2024 (USD Million)
Table 60 Latin America: Market Size By Software, 2017-2024 (USD Million)
Table 61 Latin America: Market Size By Service, 2017-2024 (USD Million)
Table 62 Latin America: Market Size By End User, 2017-2024 (USD Million)
Table 63 Latin America: Market Size By Use Case, 2017-2024 (USD Million)
Table 64 Latin America: Market Size By Country, 2017-2024 (USD Million)

List of Figures
Figure 1 Virtual Fitting Room Market: Research Design
Figure 2 Market: Top-Down and Bottom-Up Approaches
Figure 3 Market Snapshot, By Component
Figure 4 Market Snapshot, By Hardware
Figure 5 Market Snapshot, By Software
Figure 6 Market Snapshot, By Service
Figure 7 Market Snapshot, By End User
Figure 8 Market Snapshot, By Use Case
Figure 9 Increasing Adoption of Advanced Technologies to Offer Better Shopping Experiences for Customers to Drive the Overall Growth of the Virtual Fitting Room Market During the Forecast Period
Figure 10 Apparel Segment to Grow at the Highest CAGR During Forecast Period
Figure 11 North America to Hold the Highest Market Share in 2019
Figure 12 Virtual Store and Asia Pacific Accounted for the Highest Growth Rates in the Market in 2019
Figure 13 Drivers, Restraints, Opportunities, and Challenges: Virtual Fitting Room Market
Figure 14 Software Segment to Register the Highest CAGR During the Forecast Period
Figure 15 Prefabricated to Register A Higher CAGR During the Forecast Period
Figure 16 Software Tools to Register A Higher CAGR During the Forecast Period
Figure 17 Support Services to Grow at the Highest CAGR During the Forecast Period
Figure 18 Virtual Store Segment to Register A Higher CAGR During the Forecast Period
Figure 19 Apparel Segment to Register the Highest CAGR During the Forecast Period
Figure 20 North America to Hold the Largest Market Size and APAC to Grow at the Highest CAGR During the Forecast Period
Figure 21 India to Register Growth at the Highest CAGR During the Forecast Period
Figure 22 North America Market Snapshot
Figure 23 Europe: Market Snapshot
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Virtual Fitting Room Market (Global) Competitive Leadership Mapping for Start-Ups, 2018
Figure 26 SWOT Analysis: Metail
Figure 27 SWOT Analysis: Zugara
Figure 28 SWOT Analysis: True Fit

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  • 3D-A-Porter
  • AstraFit
  • Coitor IT Tech
  • ELSE Corp
  • Fision Technologies
  • Fit Analytics
  • FXGear
  • Magic Mirror
  • Memomi
  • Metail
  • Sensemi
  • Sizebay
  • Total Immersion
  • Trimirror
  • True Fit
  • Visualook
  • Zugara
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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