Dublin, April 22, 2019 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
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.
The virtual fitting room is equivalent to the physical in-store changing room, which offers an effective way for shoppers to try clothes, accessories, and other items virtually rather than physically. The technology is gaining popularity in the last few years, and fashion retailers are expected to deploy the same to offer a more engaging experience to customers. The virtual fitting makes use of AR and works by superimposing a garment or an accessory onto the mirror image of the shopper. Another factor that is contributing to the market is the growing eCommerce trend and shift of consumer toward online shopping.
According to the Census Bureau of the Department of Commerce, the retail eCommerce sales for the fourth quarter of 2018 was USD 132.8 billion. Moreover, western countries are more inclined toward online purchasing. Hence, to help fashion retailers deliver a personalized experience, various vendors offer hardware and software solutions in the market. Most of the vendors in the market offer hardware-based smart mirrors/screens for physical stores and software solutions for online stores to end users seeking to engage their customers effectively.
Some of the major players in the virtual fitting room market include Zugara, Inc. (Zugara), Total Immersion (Total Immersion), True Fit Corporation (True Fit), Metail Limited (Metail), 3D-A-PORTER LTD (3D-A-PORTER), Magic Mirror (Magic Mirror), Autumn Rock Limited (AstraFit), Fit Analytics GmbH (Fit Analytics), Youbuy3D S.L. (Visualook), ELSE Corp srl (ELSE Corp), FXGear Inc. (FXGear), Sizebay, (Sizebay) triMirror (triMirror), MemoMi Labs Inc. (MemoMi), SenseMi (SenseMi), and Fision AG (Fision Technologies), Coitor IT Tech (Coitor IT Tech).
Partnerships, expansions, and new product developments are some of the key strategies implemented by the major vendors in the market.
Key Topics Covered:
1 Introduction
2 Introduction
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
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
10 Competitive Landscape
10.1 Start-Up Micro Quadrant
10.2 Strength of Product Portfolio
10.3 Business Strategy Excellence
11 Company Profiles
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
11.11 FXGear
11.12 Sizebay
11.13 Trimirror
11.14 Memomi
11.15 Sensemi
11.16 Fision Technologies
11.17 Coitor IT Tech
For more information about this report visit https://www.researchandmarkets.com/r/kk0v7p
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