According to MarketsandMarkets the Virtual Fitting Room Market size is expected to grow from USD 2.9 billion in 2019 to USD 7.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 20.9% during the forecast period. The virtual fitting room market is said to have a potential scope for growth in the years to come due to the trend of online shopping has increased the demand of virtual fitting room technologies in retail and eCommerce.
Apparel segment is expected to grow with the highest CAGR during the forecast period
The use cases segment is sub-segmented as apparel, accessories, eye wear, jewelry and watches, beauty and cosmetics, and others (footwear, furniture, and decor). Among these segments, apparel is expected to grow with the highest CAGR. Using virtual fitting room solutions, apps, and software shoppers can get a feel of how the apparels and accessories look on them without physically wearing it. Retailers can do their promotions directly to the consumers and engage them using virtual fitting room solutions.
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Virtual fitting room software to have the largest market size during the forecast period
The virtual fitting room market by component has 3 segments: hardware, software, and services. The software segment is expected to have the largest market share during the forecast period because of the increase in the use of virtual fitting room solutions in physical stores and virtual stores.
A virtual fitting room is the online equivalent of an in-store changing room. It helps shoppers to try on clothes to check size, fit, or style, in the virtual mode rather than physically. It scans the body of the shopper and fits the product as per the size of the shopper. In this way, the customer gets a hyper-personalized shopping experience and can visualize full looks in 3D and ultra-high resolution.
Major vendors in the global virtual fitting room market 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), and Fision Technologies (Switzerland), Coitor IT Tech (India).
Metail is a virtual fitting room service provider company, founded in 2008 and is headquartered in London, UK. It is one of the digital companies that uses advanced computer vision technology to serve retailers and consumers. The company offers eCommerce model photography to retailers and consumers.
Moreover, the company offers a solution with the ability to try clothes online. Moreover, Metail makes use of composed photography technology that saves retailers’ time and money on online model photography without compromising on image quality and impact. In the virtual fitting room market, Metail offers solutions such as MeModel Experience and Composed Photography. The company has its presence in the UK, Europe, Asia, and Australia. In May 2017, Metail partnered with Princess Polly, the fastest-growing fashion brand. This partnership helped Metail enter the Australian market and enabled shoppers to try clothes online.
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Another important player of the virtual fitting room market, Zugara is a US-based company which was founded in 2001 and is headquartered in California. The company is a technology innovator and is one of the top-augmented reality companies. It is engaged in providing AR and VR software solutions focused on solving user interaction and industry-specific problems. Zugara has a patent portfolio specific to augmented reality, mixed reality, and computer vision ecosystems. The company has executed web, in-store retail, and mobile projects by using body detection, gesture recognition, image recognition, and facial recognition technologies. The company has licensed its products directly to the retailers and has distributed them through an international network of eCommerce platforms and resellers. The company has its presence in the US. Moreover it works with resellers across the globe to offer their products in North America, Europe, APAC, MEA, and Latin America.
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