Overview
and Scope
The virtual mirror refers to a technology that
is used in retail stores for customers to try their dresses, tops, and other
apparel on their virtual avatars in the mirror. It uses augmented reality
technology to show the user how the outfit would look on them without having to
try it on physically. It displays the outfit and uses motion rendering
technology to let the spectator see the appearance in a variety of motions and
lighting conditions (for both day and night looks).
Sizing and Forecast
The virtual mirror market size has grown exponentially in recent years. It
will grow from $9.1 billion in 2023 to $11.1 billion in 2024 at a compound
annual growth rate (CAGR) of 22.0%. The growth in the historic period can be
attributed to customer expectations, market differentiation and innovation,
improved user interfaces, fashion and beauty industry trends, mobile and ar
adoption..
The virtual mirror market size is expected to see exponential growth in the
next few years. It will grow to $24.53 billion in 2028 at a compound annual
growth rate (CAGR) of 21.9%. The growth
in the forecast period can be attributed to sustainability and environmental
concerns, market competition, enhanced user experience, retail innovation and
customer engagement, mobile ar and app integration.. Major trends in the
forecast period include augmented reality (ar) advancements, contactless
shopping and remote try-ons, e-commerce and online retail integration, expanded
industry applications, mobile accessibility..
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https://www.thebusinessresearchcompany.com/report/virtual-mirror-global-market-report
Segmentation & Regional Insights
The virtual mirror market covered in this report is segmented –
1) By Component: Software, Hardware, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Technology: 3D Body Scanning, Photo Accurate VFR, 3D Augmented Reality
and Virtual Reality
4) By Industry: Retail, Other Industries
North America was the largest region in the virtual mirror market in 2023.
Asia-Pacific is expected to be the fastest-growing region in the forecast
period. The regions covered in the virtual mirror market report are Asia-Pacific,
Western Europe, Eastern Europe, North America, South America, Middle East,
Africa
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report:
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Major Driver Impacting Market Growth
The increase in online shopping activities is expected to propel the growth
of the virtual mirror market going forward. Online shopping refers to a form of
electronic commerce that allows consumers to directly buy goods or services
from a seller over the Internet using the Web. Virtual mirrors are available on
mobile phone applications that help users modify the appearance of their
hairstyle, make-up, or accessories. The technology is also used in online
shopping and in-store shopping to show people how an item or accessory might
look on them. For instance, according to the Indian Brand Equity Foundation, an
India-based export promotion agency, the Indian e-commerce market is expected
to grow by 21.5% in 2022, reaching a total value of $74.8 billion. Additionally, according to Forbes, a US-based
business magazine, in 2021, online shopping in the US increased by 14.2% for
the year, which is $870 billion when compared with the year 2020. E-commerce
represented 13.2% of all retail sales in the US in 2021. Therefore, an increase
in online shopping activities is driving the virtual mirror market growth.
Key Industry Players
Major companies operating in the virtual mirror market report are INDEL B.
V., SenseMi Technologies Pvt. Ltd., Terawe Corporation, Textronics Inc.,
Virtooal Studio SRL, ICON Multimedia S. L., Cisco Systems Inc., Fitnect
Interactive Inc., Metail Limited, MemoMi Labs Inc., Zugara Inc., My Size Inc.,
Virtusize Co. Ltd., DigitalDM Inc., ViuBox S. L., Dressformer LLC, Astrafit
LLC, Virtalis Limited, Vizoo GmbH, X-Rite Incorporated, zSpace Inc.,
3D-A-Porter Limited, Styku Inc., Total Immersion SAS, ViewAR GmbH, Vuforia
Solutions Inc., Wikitude GmbH, YouAR GmbH, Zappar Limited, Blippar Limited
The virtual mirror market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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