Immersive Fashion Market Size, Trends and Insights By Technology (Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR)), By Application (Virtual Shopping, Virtual Try-On, Virtual Fashion Shows, Virtual Design and Development), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI35203

Published Date: November 2023

Pages: 320+

Category: Technology

Report Snapshot

CAGR: 12.4%
1.5B
2022
1.9B
2023
9.9B
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Gucci
  • Ralph Lauren
  • Nike
  • Adidas
  • LVMH (Louis Vuitton Moet Hennessy)
  • Others

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Reports Description

As per the current market research conducted by CMI Team, the global Immersive Fashion Market is expected to record a CAGR of 12.4% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 1.9 Billion. By 2032, the valuation is anticipated to reach USD 9.9 Billion.

The Immersive Fashion market, a dynamic sector at the intersection of fashion and technology, involves the creation and utilization of virtual, augmented, and mixed reality experiences within the fashion industry. Its nature is rooted in digital innovation, blurring the lines between physical and virtual fashion realms.

Recent trends encompass metaverse integration, blockchain-driven digital fashion ownership, sustainability in virtual garments, personalized avatars, and immersive in-store experiences. This evolving market represents a fusion of technology, creativity, and sustainability, redefining how we engage with fashion in an increasingly digital world.

Immersive Fashion Market – Significant Growth Factors

The Immersive Fashion Market presents significant growth opportunities due to several factors:

  • Digital Transformation: The fashion industry is witnessing a digital revolution, offering opportunities for immersive fashion experiences. Brands can leverage this shift to create engaging virtual showrooms, enabling customers to visualize products before purchase and streamlining the supply chain.
  • Metaverse Integration: With the rise of the metaverse, fashion companies can establish a virtual presence, offering virtual clothing and accessories for avatars, fostering unique marketing and sales opportunities.
  • Sustainability: Immersive fashion can promote sustainable practices by reducing the need for physical samples, lowering carbon footprints, and minimizing textile waste, aligning with eco-conscious consumer preferences.
  • Customization: Immersive fashion allows personalization of virtual garments, opening opportunities for brands to offer bespoke digital fashion, catering to individual tastes and style preferences.
  • Blockchain & NFTs: The utilization of blockchain technology and NFTs in the fashion market can establish digital ownership, authentication, and provenance, creating new revenue streams and protecting digital fashion assets.
  • Enhanced In-Store Experiences: Retailers can enhance brick-and-mortar shopping through augmented reality, enabling customers to try on virtual garments in-store, blurring the line between physical and digital retail, and offering a unique and interactive shopping experience.

Immersive Fashion Market – Mergers and Acquisitions

The Immersive Fashion Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their Type offerings and profitability. Some notable examples of mergers and acquisitions in the Immersive Fashion Market include:

  • In 2022, Snap Inc. made a significant acquisition by purchasing the AR firm Vertebrae for a whopping $750 million. Vertebrae specializes in cutting-edge technology that empowers users to virtually try on clothing in real-time, adding an exciting dimension to the Snap ecosystem.
  • Meanwhile, in 2021, Meta Platforms Inc. made a bold move by acquiring Ray-Ban Stories, an AR company, for a staggering $1 billion. The Ray-Ban Stories offer smart glasses that enable users to capture photos and videos, enjoy music, and handle calls, introducing a new level of connected eyewear innovation within the Meta portfolio.

These mergers and acquisitions have helped companies expand their Type offerings, improve their market presence, and capitalize on growth opportunities in the Immersive Fashion Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Immersive Fashion Market Industrial Design Service Market Smart Wearable Fitness and Sports Devices Market
CAGR 12.4% (Approx) CAGR 5.3% (Approx) CAGR 5% (Approx)
USD 9.9 Billion by 2032 USD 75.6 Billion by 2032 USD 106.47 Billion by 2032

Immersive Fashion Market – Significant Threats

The Immersive Fashion Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Privacy Concerns: Immersive fashion often involves collecting vast amounts of user data, raising privacy concerns. Unauthorized access or misuse of this data can harm consumer trust and lead to legal repercussions.
  • Technological Challenges: Rapid advancements demand substantial investments in technology and infrastructure. Outdated hardware or software can hinder the immersive experience, frustrating users and stifling market growth.
  • Security Risks: As the market expands, it becomes a target for cyberattacks and digital fraud. Protecting digital assets and virtual identities from breaches and theft is paramount.
  • Digital Inequality: Not all consumers have equal access to immersive technology, potentially creating a digital divide that excludes certain demographics or regions from enjoying the benefits.
  • Intellectual Property Concerns: The replication of virtual fashion and its sale without proper authorization poses a significant threat. Protecting the intellectual property rights of designers and creators is a complex challenge.
  • Consumer Skepticism: Consumers may remain sceptical of the immersive fashion experience, doubting the accuracy of virtual try-ons and the quality of virtual garments, which can slow adoption and market growth.
  • Content Overload: The immersive fashion market may become oversaturated with content, making it challenging for consumers to discover quality virtual fashion items and experiences. This could lead to user fatigue and a decrease in engagement.
  • Regulatory Hurdles: Evolving legal and regulatory frameworks pose challenges for the market. Ensuring compliance with data protection, intellectual property, and consumer rights laws is crucial but can be complex and costly for businesses.
  • Economic Uncertainty: Economic downturns can reduce consumer spending, impacting the adoption of immersive fashion. A global recession or financial crisis can lead to a contraction in the market.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 1.9 Billion
Projected Market Size in 2032 USD 9.9 Billion
Market Size in 2022 USD 1.5 Billion
CAGR Growth Rate 12.4% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Technology, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Technology

  • Augmented Reality (AR): Augmented Reality in the Immersive Fashion Market involves overlaying digital elements in the real-world environment. AR technology enhances user experiences by enabling virtual try-ons, digital showrooms, and interactive in-store experiences. Recent trends in AR for fashion include AR-powered mobile apps, smart mirrors in retail spaces, and AR filters for virtual makeup and accessories. AR technology enables consumers to visualize how clothing and accessories look on them before making a purchase, enhancing engagement and personalization.
  • Virtual Reality (VR): Virtual Reality immerses users in entirely digital environments, providing an immersive experience. In the fashion market, VR is used for creating virtual fashion shows, virtual stores, and 3D garment design. A significant trend is the use of VR for virtual fashion events and runway shows, allowing consumers to attend fashion events from the comfort of their homes. VR is also being employed for virtual showrooms and collaborative design, providing a unique platform for designers and consumers to interact.
  • Mixed Reality (MR): Mixed Reality combines elements of both AR and VR, allowing users to interact with digital and physical objects simultaneously. In the Immersive Fashion Market, MR is leveraged for highly interactive shopping experiences, combining virtual try-ons with physical stores. MR headsets and smart glasses are used for combining real-world elements with digital fashion accessories and apparel. A trend in MR is the development of virtual fitting rooms in physical retail spaces, where users can try on virtual clothing and accessories while physically present in the store, bridging the gap between digital and physical fashion experiences.

By Application

  • Virtual Shopping: In the Immersive Fashion Market, virtual shopping involves creating immersive online retail environments where users can explore and purchase fashion products. It enhances the online shopping experience, providing virtual stores and showrooms with a more interactive and engaging way to discover and buy clothing and accessories. Trends include AI-driven personalization, augmented reality (AR) fitting rooms, and metaverse integration to create immersive digital shopping destinations.
  • Virtual Try-On: Virtual try-on allows users to virtually experience and assess how garments look on themselves through AR and 3D technology. It’s increasingly popular for eyewear, makeup, and clothing. Trends include improved accuracy in size and fit prediction, expanded use of AR in beauty, and integration with social media platforms for sharing and feedback.
  • Virtual Fashion Shows: Virtual fashion shows have gained prominence, especially during global events, enabling brands to showcase collections through 3D models or digital avatars. This trend combines elements of gaming and entertainment, with potential for metaverse integration, interactive viewer engagement, and real-time participation, redefining the traditional fashion show format.
  • Virtual Design and Development: In the immersive fashion market, virtual design and development encompass the creation and prototyping of fashion collections using digital tools and 3D rendering. This trend focuses on sustainability by reducing the need for physical samples, fostering collaborative design across borders, and streamlining production. It also includes advancements in virtual textile design and simulation for more sustainable, efficient, and innovative fashion creation processes.

Global Immersive Fashion Market 2023–2032 (By Billion)

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Immersive Fashion Market – Regional Analysis

The Immersive Fashion Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

  • North America: In North America, the Immersive Fashion Market involves the fusion of fashion and technology to create captivating virtual experiences for consumers. Trends in this region include an emphasis on augmented reality (AR) try-on solutions, immersive shopping experiences through virtual reality (VR), and collaborations with tech giants to propel fashion into the metaverse. North America showcases a strong appetite for digital fashion and its integration into mainstream culture, with brands actively exploring innovative ways to connect with tech-savvy consumers.
  • Europe: In Europe, the Immersive Fashion Market is marked by the integration of virtual and augmented reality into the fashion industry. The region emphasizes sustainability in digital fashion, showcasing a commitment to eco-conscious practices, and the creation of immersive in-store experiences. Collaborations with luxury brands are on the rise, combining traditional craftsmanship with digital innovation. European fashion companies are also at the forefront of metaverse exploration, creating unique opportunities for consumers to engage with digital fashion experiences.
  • Asia-Pacific: The Asia-Pacific Immersive Fashion Market is defined by rapid technological adoption and a surge in virtual fashion applications. The region is witnessing extensive use of augmented reality for e-commerce, particularly in countries like China and Japan. Asia-Pacific leads in virtual try-on solutions, driving consumer engagement and expanding the digital fashion landscape. Emerging markets in Southeast Asia are contributing to the growth, with fashion-forward consumers seeking immersive experiences in both online and offline retail.
  • LAMEA: LAMEA’s Immersive Fashion Market is characterized by the adoption of technology in fashion retail and consumer engagement. This region is increasingly embracing virtual fashion showrooms and AR-enhanced shopping experiences. Local designers are exploring the possibilities of digital fashion, creating unique virtual clothing lines. In the Middle East, luxury brands are actively incorporating immersive technologies, while Africa is experiencing a rise in digital fashion influencers and online platforms, driving growth in the market.

Global Immersive Fashion Market 2023–2032 (By Technology)

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Competitive Landscape – Immersive Fashion Market

The Immersive Fashion Market is highly competitive, with a large number of manufacturers and others operating globally. Some of the key players in the market include:

  • Gucci
  • Ralph Lauren
  • Nike
  • Adidas
  • LVMH (Louis Vuitton Moet Hennessy)
  • Farfetch
  • Tommy Hilfiger
  • Zara
  • H&M
  • Burberry
  • ASOS
  • Virtual Shoe Museum
  • The Fabricant
  • AURA Vision
  • DressX
  • Obsess
  • Superpersonal
  • Ray-Ban (AR Smart Glasses)
  • Snapchat (Bitmoji and AR Filters for Fashion)
  • Amazon (with Amazon Wardrobe and Augmented Reality Try-On)
  • Others

These companies operate in the market through various strategies such as application innovation, mergers and acquisitions, and partnerships.

New entrants like DressX, Obsess, and Superpersonal have adopted innovation and development to enter the Immersive Fashion market. They focus on creating virtual fashion experiences, customizing digital garments, and developing AR/VR technologies. These startups are gaining traction by offering unique solutions that align with the industry’s digital shift.

Key players like Gucci, LVMH, and Nike are dominating the Immersive Fashion market through strategic investments in virtual fashion shows, AR try-on experiences, and metaverse integration. They leverage their established brand recognition and resources to pioneer immersive technologies, create engaging virtual experiences, and expand their digital presence, thus solidifying their leadership positions in the market.

The Immersive Fashion Market is segmented as follows:

By Technology

  • Augmented Reality (AR)
  • Virtual Reality (VR)
  • Mixed Reality (MR)

By Application

  • Virtual Shopping
  • Virtual Try-On
  • Virtual Fashion Shows
  • Virtual Design and Development

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Immersive Fashion Market, (2023 – 2032) (USD Billion)
    • 2.2 Global Immersive Fashion Market: snapshot
  • Chapter 3. Global Immersive Fashion Market – Industry Analysis
    • 3.1 Immersive Fashion Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Digital Transformation
      • 3.2.2 Metaverse Integration
      • 3.2.3 Sustainability
      • 3.2.4 Customization
      • 3.2.5 Blockchain & NFTs
      • 3.2.6 Enhanced In-Store Experiences.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Technology
      • 3.7.2 Market Attractiveness Analysis By Application
  • Chapter 4. Global Immersive Fashion Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Immersive Fashion Market: Company Market Share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Immersive Fashion Market – Technology Analysis
    • 5.1 Global Immersive Fashion Market Overview: By Technology
      • 5.1.1 Global Immersive Fashion Market Share, By Technology, 2022 and 2032
    • 5.2 Augmented Reality (AR)
      • 5.2.1 Global Immersive Fashion Market by Augmented Reality (AR), 2023 – 2032 (USD Billion)
    • 5.3 Virtual Reality (VR)
      • 5.3.1 Global Immersive Fashion Market by Virtual Reality (VR), 2023 – 2032 (USD Billion)
    • 5.4 Mixed Reality (MR)
      • 5.4.1 Global Immersive Fashion Market by Mixed Reality (MR), 2023 – 2032 (USD Billion)
  • Chapter 6. Global Immersive Fashion Market – Application Analysis
    • 6.1 Global Immersive Fashion Market Overview: By Application
      • 6.1.1 Global Immersive Fashion Market Share, By Application, 2022 and 2032
    • 6.2 Virtual Shopping
      • 6.2.1 Global Immersive Fashion Market by Virtual Shopping, 2023 – 2032 (USD Billion)
    • 6.3 Virtual Try-On
      • 6.3.1 Global Immersive Fashion Market by Virtual Try-On, 2023 – 2032 (USD Billion)
    • 6.4 Virtual Fashion Shows
      • 6.4.1 Global Immersive Fashion Market by Virtual Fashion Shows, 2023 – 2032 (USD Billion)
    • 6.5 Virtual Design and Development
      • 6.5.1 Global Immersive Fashion Market by Virtual Design and Development, 2023 – 2032 (USD Billion)
  • Chapter 7. Immersive Fashion Market – Regional Analysis
    • 7.1 Global Immersive Fashion Market Regional Overview
    • 7.2 Global Immersive Fashion Market Share, by Region, 2022 & 2032 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Immersive Fashion Market, 2023 – 2032 (USD Billion)
        • 7.3.1.1 North America Immersive Fashion Market, by Country, 2023 – 2032 (USD Billion)
    • 7.4 North America Immersive Fashion Market, by Technology, 2023 – 2032
      • 7.4.1 North America Immersive Fashion Market, by Technology, 2023 – 2032 (USD Billion)
    • 7.5 North America Immersive Fashion Market, by Application, 2023 – 2032
      • 7.5.1 North America Immersive Fashion Market, by Application, 2023 – 2032 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe Immersive Fashion Market, 2023 – 2032 (USD Billion)
        • 7.6.1.1 Europe Immersive Fashion Market, by Country, 2023 – 2032 (USD Billion)
    • 7.7 Europe Immersive Fashion Market, by Technology, 2023 – 2032
      • 7.7.1 Europe Immersive Fashion Market, by Technology, 2023 – 2032 (USD Billion)
    • 7.8 Europe Immersive Fashion Market, by Application, 2023 – 2032
      • 7.8.1 Europe Immersive Fashion Market, by Application, 2023 – 2032 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Immersive Fashion Market, 2023 – 2032 (USD Billion)
        • 7.9.1.1 Asia Pacific Immersive Fashion Market, by Country, 2023 – 2032 (USD Billion)
    • 7.10 Asia Pacific Immersive Fashion Market, by Technology, 2023 – 2032
      • 7.10.1 Asia Pacific Immersive Fashion Market, by Technology, 2023 – 2032 (USD Billion)
    • 7.11 Asia Pacific Immersive Fashion Market, by Application, 2023 – 2032
      • 7.11.1 Asia Pacific Immersive Fashion Market, by Application, 2023 – 2032 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America Immersive Fashion Market, 2023 – 2032 (USD Billion)
        • 7.12.1.1 Latin America Immersive Fashion Market, by Country, 2023 – 2032 (USD Billion)
    • 7.13 Latin America Immersive Fashion Market, by Technology, 2023 – 2032
      • 7.13.1 Latin America Immersive Fashion Market, by Technology, 2023 – 2032 (USD Billion)
    • 7.14 Latin America Immersive Fashion Market, by Application, 2023 – 2032
      • 7.14.1 Latin America Immersive Fashion Market, by Application, 2023 – 2032 (USD Billion)
    • 7.15. The Middle East and Africa
      • 7.15.1 The Middle-East and Africa Immersive Fashion Market, 2023 – 2032 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa Immersive Fashion Market, by Country, 2023 – 2032 (USD Billion)
    • 7.16 The Middle-East and Africa Immersive Fashion Market, by Technology, 2023 – 2032
      • 7.16.1 The Middle-East and Africa Immersive Fashion Market, by Technology, 2023 – 2032 (USD Billion)
    • 7.17 The Middle-East and Africa Immersive Fashion Market, by Application, 2023 – 2032
      • 7.17.1 The Middle-East and Africa Immersive Fashion Market, by Application, 2023 – 2032 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 Gucci
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Ralph Lauren
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Nike
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Adidas
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 LVMH (Louis Vuitton Moet Hennessy)
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Farfetch
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Tommy Hilfiger
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Zara
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 H&M
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Burberry
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 ASOS
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
    • 8.12 Virtual Shoe Museum
      • 8.12.1 Overview
      • 8.12.2 Financials
      • 8.12.3 Product Portfolio
      • 8.12.4 Business Strategy
      • 8.12.5 Recent Developments
    • 8.13 The Fabricant
      • 8.13.1 Overview
      • 8.13.2 Financials
      • 8.13.3 Product Portfolio
      • 8.13.4 Business Strategy
      • 8.13.5 Recent Developments
    • 8.14 AURA Vision
      • 8.14.1 Overview
      • 8.14.2 Financials
      • 8.14.3 Product Portfolio
      • 8.14.4 Business Strategy
      • 8.14.5 Recent Developments
    • 8.15 DressX
      • 8.15.1 Overview
      • 8.15.2 Financials
      • 8.15.3 Product Portfolio
      • 8.15.4 Business Strategy
      • 8.15.5 Recent Developments
    • 8.16 Obsess
      • 8.16.1 Overview
      • 8.16.2 Financials
      • 8.16.3 Product Portfolio
      • 8.16.4 Business Strategy
      • 8.16.5 Recent Developments
    • 8.17 Superpersonal
      • 8.17.1 Overview
      • 8.17.2 Financials
      • 8.17.3 Product Portfolio
      • 8.17.4 Business Strategy
      • 8.17.5 Recent Developments
    • 8.18 Ray-Ban (AR Smart Glasses)
      • 8.18.1 Overview
      • 8.18.2 Financials
      • 8.18.3 Product Portfolio
      • 8.18.4 Business Strategy
      • 8.18.5 Recent Developments
    • 8.19 Snapchat (Bitmoji and AR Filters for Fashion)
      • 8.19.1 Overview
      • 8.19.2 Financials
      • 8.19.3 Product Portfolio
      • 8.19.4 Business Strategy
      • 8.19.5 Recent Developments
    • 8.20 Amazon (with Amazon Wardrobe and Augmented Reality Try-On)
      • 8.20.1 Overview
      • 8.20.2 Financials
      • 8.20.3 Product Portfolio
      • 8.20.4 Business Strategy
      • 8.20.5 Recent Developments
    • 8.21 Others.
      • 8.21.1 Overview
      • 8.21.2 Financials
      • 8.21.3 Product Portfolio
      • 8.21.4 Business Strategy
      • 8.21.5 Recent Developments
List Of Figures

Figures NO 1 to 21

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • Gucci
  • Ralph Lauren
  • Nike
  • Adidas
  • LVMH (Louis Vuitton Moet Hennessy)
  • Farfetch
  • Tommy Hilfiger
  • Zara
  • H&M
  • Burberry
  • ASOS
  • Virtual Shoe Museum
  • The Fabricant
  • AURA Vision
  • DressX
  • Obsess
  • Superpersonal
  • Ray-Ban (AR Smart Glasses)
  • Snapchat (Bitmoji and AR Filters for Fashion)
  • Amazon (with Amazon Wardrobe and Augmented Reality Try-On)
  • Others

FAQs

The key factors driving the Market are Digital Transformation, Metaverse Integration, Sustainability, Customization, Blockchain & NFTs And Enhanced In-Store Experiences.

The “Virtual Reality (VR)” category dominated the market in 2022.

The key players in the market are Gucci, Ralph Lauren, Nike, Adidas, LVMH (Louis Vuitton Moet Hennessy), Farfetch, Tommy Hilfiger, Zara, H&M, Burberry, ASOS, Virtual Shoe Museum, The Fabricant, AURA Vision, DressX, Obsess, Superpersonal, Ray-Ban (AR Smart Glasses), Snapchat (Bitmoji and AR Filters for Fashion), Amazon (with Amazon Wardrobe and Augmented Reality Try-On), Others.

“North America” had the largest share in the Immersive Fashion Market.

The global market is projected to grow at a CAGR of 12.4% during the forecast period, 2023-2032.

The Immersive Fashion Market size was valued at USD 1.9 Billion in 2023.

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