Key players of the market include ELSE Corp, Fit Analytics, True Fit Corporation, FXGear, Inc., Autumn Rock Limited, and Magic Mirror, among others. The global virtual fitting room market reached a value of USD 3.8 billion in 2020. The market is expected to grow at a CAGR of 18% between 2022 and 2027.
The growing habit of online buying, the increasing number of mobile users, and the increasing usage of digital technology by retailers to expand their consumer base are significant factors driving the industry's growth. With the growing introduction of emerging technology, virtual reality has taken a step forward in online and offline shopping. North America was the largest market for virtual dressing room solutions in recent years. Further, significant adoption of advanced technologies, including AR and VR, and high usage of internet-based services in the region are the key factors that support the market's growth.
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The advantages of virtual dressing rooms providing a collaborative online purchasing experience are expected to drive demand in the Asia Pacific region over the forecast period. The European market is expected to have the highest revenue share during the forecast period. The presence of several notable fashion brands in the region is one of the key factors driving the regional market growth. The area has played an essential role in introducing new trends, styles, and designs, which are then adopted by other fashion enthusiasts worldwide. The presence of a large retailer base encourages the establishment of numerous startups in this region. Furthermore, rising retailer competition provides growth opportunities for the regional market, as retailers increasingly adopt innovative digital technologies to increase footfall and engagement levels. Such factors highly support the growth of the global virtual fitting room market.
Headquarters: Milan, Italy
An Italian startup that offers B2B and B2B2C solutions to brands, retailers, manufacturers, and independent designers; the company is designing and developing a Cloud SaaS platform that puts together the front-end retail processes such as product personalisation and virtual 3D commerce of exclusive, personalised, possibly made to measure products, with the cloud-based back-end processes like mass customisation, virtual fitting and order generation for clever hybrid manufacturing.
Headquarters: Berlin, Germany
With bases in Berlin and Chicago, FA supports partners across six continents and deliver unbeatably accurate sizing recommendations to millions of shoppers worldwide every month. FA uses the power of machine learning to give leading brands and retailers all the tools they need to solve sizing, sell smarter, and turn data into actionable insight. By using the solutions, customer will be able to conquer checkout doubt and sell more clothes to the right people at the right time.
Headquarters: Boston, United States
True Fit is the industry's leading consumer experience platform leveraged by apparel and footwear retailers to decode fit and size and connect shoppers with only what they love. It has organised and connected the broadest footwear, apparel, and consumer data in the world to provide best in class fit recommendations covering the industry’s brands and styles. The platform unites social, general, and personalised fit guidance into one cohesive experience, driving shopper confidence and loyalty.
Headquarters: Seoul, South Korea
Equipped with an intuitive head-tracking UI, the NOON VR app allows you to experience an ever-expanding collection of immersive 360 and stereoscopic VR content without the need to remove the headset. NOON VR's streaming server technology provides high-speed video loading and the delivery of the highest resolution 360-degree VR content. One can experience every pixel of 360 experiences through full 11K streams.
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