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Virtual Mirror Market size was valued at USD 6.13 billion in 2019 and is poised to grow from USD 7.6 billion in 2023 to USD 20.66 billion by 2031, growing at a CAGR of 23.7% in the forecast period (2024-2031).

virtual mirror market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Astrafit', 'MemoMi', 'Fits.me', 'VIRTusize', 'SmartPixels', 'SenseMi', 'Virtual Mirror', 'Reflexion', 'Zugara', 'Holition', 'Styku', 'MirrAR', 'True Fit', 'Fashion3D', 'Sizebay', 'Styliff', 'Dressformer', '3D-A-PORTER', 'Metail', 'Tylko'

The option of consumer trial on clothes in a simulated environment in stores, a distinguished attention on hygiene for cosmetics and other retail products, and virtual trial of the product before purchasing on e-commerce sites is assumed to drive the market growth during the forecast period.

In the modern world, the merchants developed these solutions and the progress is still continuing in association with leading automotive brands including AUDI AG, Jaguar Land Rover Automotive PLC, and Lexus.Multiple vendors are also focussing on providing smart mirrors in the retail sector owing to the growing trend of shopping online and at stores.

North America dominated and held the largest virtual mirror market share in 2021 and the region is also projected to register for the highest revenue share over the forecast period. The United States is a pivotal point of the largest retail brands and hotel chains, resulting in fuelling the demand for virtual mirrors in the country. On the other hand, application of virtual mirrors in the automotive industry is expected to experience obstruction as the U.S. government has listed virtual side mirrors under the mirrorless section.The market in Asia Pacific (APAC) is further expected to grow fast during the projected period because of increasing online purchasing and also increasing digitization along with cloud adoption in the developing economies including India, China, and others. The virtual mirrors are in high demand as of 2022 in major automobile and retailing centres such as China, Japan, and India.

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Global Virtual Mirror Market

Product ID: SQSG45J2032

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