Major driving factors for the Virtual Fitting Room Market include increasing IT spending in the retail industry and the adoption of the advanced solution to enhance customer experience.
Retailers are adopting new technologies to increase customer engagement and enhance customer experience. Increase in the use of online and offline shopping by consumers is contributing to the high demand for virtual fitting room market.
In the virtual fitting room market by component, the software segment is expected to grow at a higher CAGR during the forecast period. With a growing trend of virtual mirrors, virtual fitting room apps and software the shopper are using it to try the clothes and accessories online. Moreover, retailers are using this to enhance the customer experience.
The virtual fitting room market by end users comprises 2 sub-segments namely physical store and virtual store. The virtual store is expected to grow at a higher CAGR during the forecast period. The increase in the use of online shopping using various platforms is helping the shopper to try new AR based technologies to try clothes and accessories online. Fashion retailers are implementing virtual fitting room solutions.
The virtual fitting room market by use cases is segmented into apparel, accessories, eye wear, jewelry and watches, beauty and cosmetics, and others (footwear, furniture, and decor). Apparel is expected to grow at the highest CAGR during the forecast period. Fashion retailers are adopting it to increase the customer engagement and enhancing the consumer experience thereby increasing the sales of the retail brand.