Virtual Fitting Room Market Drivers, Restraints, Opportunities, and Trends, 2030

1. 2022 Virtual Fitting Room Market Opportunities, Growth, Challenges, Business Trends and Forecast 2030

2. The virtual fitting room market will advance at a rate of 18.5% from 2020 to 2030 and reach a $19,250.4 million value by the year 2030, attributed to rising online shopping activities, smart phone-led internet penetration and rise in adoption of advanced technologies to cater the large customer base. A virtual fitting room allows shoppers to try items virtually and gives a perspective of how they will appear while trying them in reality. Under the component segment, the software category holds a significant virtual fitting room market revenue share. It is expected to follow the same trend in the near future, ascribed to the rise in the number of retailers adopting software platforms to cater to the large customer base and increased investments in the virtual fitting rooms to reduce the incidences of product returns caused due to size issues resulting in wastage of time to manage the returned products and inventory cost. Under the end user segment, physical stores contribute more significantly in the virtual fitting room market, resulting in increased deployment of technology in the physical stores proliferating the market. The evolving technologies comprised of augmented reality (AR) and virtual reality (VR) results in the rising demand of customers to witness the virtual surroundings in various product applications. Numerous retail stores are utilizing integrated 3D image mirrors that enable customers to view themselves virtually wearing the products.

3. North America is a significant contributor to the virtual fitting room market, ascribed to the massive usage of the virtually fitting room solutions. The major factors that proliferate the market are extensive adoption of advanced technologies, including usage of internet services, AR and VR. In addition, the surge in online shopping is resulting in the expansion of the e-commerce sector as customers do not want to visit physical stores since they have also started deploying these solutions to attract customers and increase their sales. APAC is expected to witness the fastest growth in the virtual fitting room market, attributed to the rapid digitization in the region's retail industry, resulting in customers willing to use digital retailing options. Moreover, Japan and China have a large online shopping community, resulting in expanding the virtual fitting room industry. However, China holds the largest APAC market share, attributed to the early adoption of the technology and the presence of a massive population using smartphones resulting in internet penetration. The players are focusing on launching new solutions to reach a larger audience. For instance, L'Oréal S.A partnered with ModiFace Inc. and launched the virtual makeup fitting application on Amazon for the first time in June 2019; the application users can test the beauty products on themselves virtually by uploading their picture or video. The rise in solution offerings has resulted in the increased adoption of the virtual fitting room technology as it facilitates the retailers to offer personalized shopping experiences.

4. Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/virtual-fitting-room-market/report-sample • Therefore, the demand for the virtual fitting room is rising due to the rise in online shopping activities facilitated by increased internet penetration with the rising number of smartphone users. • Market Segmentation by Component • Software • Hardware • Pre-fabricated • Customized • Service • Consulting • Integration • Support

5. Market Segmentation by Application • Apparel • Beauty and Cosmetics • Eyewear • Footwear • Jewelry and Watches • Others • Market Segmentation by End User • Physical Stores • E-Commerce Platforms

6. Market Segmentation by Region • North America • U.S. and Canada • Europe Virtual • U.K., Germany, Italy, France, Spain and Rest of Europe • Asia-Pacific (APAC) • China, Japan, India, South Korea, Australia, and Rest of APAC • Latin America (LATAM) • Brazil, Mexico, and Rest of LATAM • Middle East and Africa (MEA) • Saudi Arabia, U.A.E., Turkey, South Africa, and Rest of MEA

7. This study covers 1. Historical and the present size of the Virtual Fitting Room Market 2. Historical and the present size of the market segments and understand their comparative future potential 3. Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings 4. Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders Major players operating in the market and their service offerings Browse More Latest Reports by P&S Intelligence: Web Content Management Market Enterprise Asset Management Market AR and VR Market Cyber Security Market

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