Due to the rising integration of advanced technologies, increasing usage of smartphones, and the growing popularity of online shopping, the global virtual fitting room market is expected to generate a revenue of $19,250.4 million in 2030, demonstrating a CAGR of 18.5% between 2020 and 2030. The coronavirus pandemic has caused a massive revenue loss of the virtual fitting room market, on account of the lockdown implemented in many countries to contain the spread of the disease.
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The shutting down of retail stores and shopping malls have halted the progress of the market in 2020. However, despite these setbacks, the growth rate of the market is predicted to pick up in the near future. The rising requirement of safe and secure solutions, especially at the time of the pandemic, is one of the biggest factors driving the advancement of the market. This is due to the fact that these solutions provide the option of trying the products virtually, without visiting the outlets. Additionally, these solutions provide accurate size recommendations so that the customer can get the perfect fit.
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Beauty and cosmetics, apparel, eyewear, jewelry and watches, and footwear are the main categories under the application segment of the virtual fitting room market. Out of these categories, the apparel one registered the highest growth in the market in 2019. This is ascribed to the rising deployment of virtual fitting rooms by the retailers to reduce the return rates of products, which is generally quite high in e-commerce apparel purchases because of the size issues that occur due to the lack of proper product trials. Moreover, these virtual fitting rooms enhance the overall shopping experience of customers. These are the major factors bolstering the growth of the category.
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Based on Component
Based on Application
Based on End User
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