The Virtual Dressing Rooms market accounted for $2.91 billion in 2019 and is expected to reach $10.37 billion by 2027 growing at a CAGR of 17.2% during the forecast period.
Some of the key factors propelling the growth of the market are increasing range of products available for customers, need for ensuring the security of products and increasing investments by various retailers.
However, lack of knowledge about the products is the restraining factor for the growth of the market. Virtual dressing rooms are the online equivalent of in-store fitting rooms which allows customers to try on clothes and check its fit, size and style virtually.
It has superior speed and efficiency than conventional dressing rooms. By component, the services segment is expected to grow at a significant market share during the forecast period as it offers customization and maintenance facilities for various solutions offered.
Based on geography, North America is anticipated to hold considerable market share during the forecast period owing to the existence of highly competitive retail sector in the region. Some of the key players in Virtual Dressing Rooms Market include Magic Mirror, Metail, Trimirror, Total Immersion, Visualook, AstraFit, Fision Technologies, Zugara, FXGear, Sensemi, Fit Analytics, 3D-A-Porter, True Fit, ELSE Corp, Memomi, Sizebay, Coitor IT Tech, REACTIVE REALITY GMBH, Dressformer, 3DLOOK Inc., Elpro Technologies and Fitnect Interactive.