COVID-19 Impact Analysis

• The demand for virtual fitting rooms has grown since the outbreak of the COVID-19 pandemic since the government has imposed a lockdown that prevents customers from going outside and visiting businesses. Consumers were compelled to migrate to online shopping as a result of the limitation, and the virtual fitting room was the only method to try on items.
• Disruption in the supply channel was a significant reason because the manufacturing sectors were unable to obtain the appropriate raw material. It was not feasible to transport hardware kiosks to specific retailers and stores. Since outside inspections were not permitted, industrial firms were compelled to rely on artificial intelligence-assisted internet software.

Top Impacting Factors

• The rise in the number of fashion firms throughout the world has provided customers with a variety of options from which they can choose. Virtual fitting rooms give businesses multimodal stimulation while also providing customers with an immersive user experience to help them choose the right product. The potential benefits of virtual fitting rooms in luring online clients to fashion merchants' web and mobile apps are prompting them to spend heavily in virtual dressing room technology.
• The technology's inability to identify the whole human body structure at a look, since it only detects discrete body parts, is one of the major issues restricting the market's development potential. In addition, slow internet rates might impair real-time tracking accuracy. The major parties are developing technological advancements linked to posing estimations using key locations in the frame. The technological advancements might help enhance the accuracy of the technology and the precision with which human anatomy is shown.

Market Trends

Demand for VFR solutions to gain traction in the industry.

The need for innovative technology is increasing as online merchants compete to deliver a better shopping experience to their customers. The rapid rise of internet purchasing is forcing retailers and businesses to implement these solutions. Customers may virtually try on several items using this interactive online platform, allowing them to pick the best product for their needs. A vigilant interactive purchase platform also aids retailers in reducing bad fitting experiences, increasing personalized demand, and increasing overall purchasing process efficiency.

Virtual fitting solutions will be enhanced by the capacity to improve online garment sales by increasing consumer happiness and engagement on websites. VFR solutions are used by e-commerce companies such as Caratlane, Lenskart, Metail, Model my Outfit, and 3D-A-Porter, among others, to cater to their consumers.

Retailer's focus on maintaining brand commitment drives the market.

Customers are unsure about their right to pick from a variety of brand alternatives and have several possibilities for switching brands. In such a fast-paced and competitive environment, brand devotion has become a top priority for the retailers. For example, in February 2018, Alibaba Group Holding Limited launched Tmall, an economic platform. At its city-based store, it began an AI-powered smart dressing room. Many fashion businesses are using VFR solutions since brand experience is a significant motivator for brand commitment. Since the 3D virtual fitting solution is enhanced with multi-sensory stimulation to engage customers with brands, adoption of these solutions is expected to increase in the future years.

Key Benefits of the Report

• This study presents the analytical depiction of the virtual fitting room industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the virtual fitting room market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario of the virtual fitting room market.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market. 
• The report provides a detailed virtual fitting room market analysis on the basis of competitive intensity and how the competition will take shape in coming years

Questions Answered in the Virtual Fitting Room Market Research Report

• Which are the leading players active in the virtual fitting room market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?