The Asia Pacific Virtual Fitting Room Market would witness market growth of 24.5% CAGR during the forecast period (2023-2030).
Innovative sizing solutions have emerged due to the last decade's fast technical improvements. Virtual fitting tools, which simulate the experience of a dressing room using augmented reality and artificial intelligence, are one of the advancements. Virtual fitting rooms are quickly becoming a need for fashion stores as they not only answer consumers' size problems but also assist businesses in achieving their inclusiveness and sustainability objectives while boosting business success.
Several brands and retail-based businesses are significantly growing their market share with their popular fast fashion apparel and other accessories. Customers may try on clothes that fit and suit them best while still at home owing to these companies' and stores' e-commerce operations and virtual changing rooms, which enhances people's personalities and self-confidence. Due to the more effective and revolutionary ways made possible by these virtual fitting rooms, the original procedures such e-retailers use with their customer-friendly practices of exchanging and returning the items with poor fit are being abandoned and minimized.
The National Investment Promotion & Facility Agency of India predicts that owing to sociodemographic and economic variables, including urbanization, income growth, and a rise in nuclear couples, the Indian retail industry will reach $2 trillion by 2032. In India during the first half of 2021, e-commerce accounted for about a third of sales in several electrical categories, nearly half of all smartphone sales, and around a fifth of all textile sales. In 2021, consumer internet and e-commerce enterprises generated US$38 billion in sales, up from US$8 billion in 2020. The growth can be attributed to the significant investments in the fintech, hyperlocal, and e-commerce sectors, as well as the expansion of the Indian start-up ecosystem.
The China market dominated the Asia Pacific Virtual Fitting Room Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,534.7 million by 2030. The Japan market is anticipated to showcase a CAGR of 23.4% during (2023 - 2030). Additionally, The India market would grow at a CAGR of 24.9% during (2023 - 2030).
Based on End-use, the market is segmented into Virtual Store and Physical Store. Based on Component, the market is segmented into Software (Cloud and On-premise), Hardware and Services. Based on Application, the market is segmented into Apparel, Eyewear, Footwear, Beauty & Cosmetic and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Virtual Fitting Room Market is Projected to reach USD 19.1 Billion by 2030, at a CAGR of 23.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Zugara Inc., Sizebay (Bossanova Investimentos), Magic Mirror, Zalando SE (Fision AG), MemoMi Labs Inc. (Walmart Inc.), SenseMI Smart Solutions (Viubox), Else Corp Srl, FXGear Inc., Metail Limited (TAL Apparel), and Snap, Inc. (Fit Analytics).
By End-use
By Component
By Application
By Country
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