The immersive fashion global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Immersive Fashion Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size —
The immersive fashion market size has grown exponentially in recent years. It will grow from $1.97 billion in 2023 to $2.42 billion in 2024 at a compound annual growth rate (CAGR) of 22.7%. The growth in the historic period can be attributed to increased online shopping, interest in personalization, the surge in popularity of online communities and virtual platforms, rising social media influence, and increasing desire for unique experiences.
The immersive fashion market size is expected to see exponential growth in the next few years. It will grow to $5.49 billion in 2028 at a compound annual growth rate (CAGR) of 22.8%. The growth in the forecast period can be attributed to a rise in willingness to pay more for products with immersive experiences, growing consumer interest in novel, engaging, and interactive shopping, significant growth in younger generations’ affinity for digital and gaming experiences, increasing opportunities to enhance brand image, and rise in potential to reduce return rates by enabling virtual try-on. Major trends in the forecast period include technological advancements, wearable technology, digital fashion prototyping, virtual fashion shows, and a sustainability focus.
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Scope Of Immersive Fashion Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Immersive Fashion Market Overview
Market Drivers –
The increased online shopping is expected to propel the growth of the immersive fashion market going forward. Online shopping refers to the process of purchasing goods or services over the Internet, allowing consumers to buy from retailers digitally and have items delivered to their location. Online shopping is growing mainly due to convenience, various product offerings, and personalized product recommendations. Immersive shopping improves online shopping by using virtual and augmented reality, helping shoppers better visualize and interact with products and leading to a more engaging experience. For instance, in August 2024, according to the Census Bureau of the Department of Commerce, a US-based government department, the estimated U.S. retail e-commerce sales for the second quarter of 2024 reached $282.3 billion, reflecting a 5.3% (± 0.7) increase from the first quarter of 2023. Therefore, the increased online shopping is driving the immersive fashion market.
Market Trends —
Major companies operating in the immersive fashion market are focused on developing advanced virtual try-on app experiences to enhance the shopping experience. Virtual try-on app experiences refer to digital tools that allow users to visualize how products, such as clothing or accessories, will look on them using augmented reality technology. For instance, in July 2024, Balenciaga, a France-based luxury fashion house, launched an app for the Apple Vision Pro headset, offering users exclusive drone views and stereoscopic footage of its Spring or Summer 2025 show. This innovative application allows users to immerse themselves in Balenciaga’s collections through interactive lookbooks and past fashion show content, providing a new way to experience runway shows and brand storytelling. The app highlights Balenciaga’s commitment to integrating cutting-edge technology to enhance audience engagement, positioning the brand as a leader in the use of virtual and augmented reality within the fashion industry.
The immersive fashion market covered in this report is segmented —
1) By Technology: Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR)
2) By Device: Smartphones And Tablets, Computer
3) By Application: Virtual Shopping, Virtual Try-On, Virtual Fashion Shows, Virtual Design And Development
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Regional Insights —
Europe was the largest region in the immersive fashion market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the immersive fashion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies —
Major companies operating in the immersive fashion market are Louis Vuitton Moet Hennessy (LVMH), Christian Dior SE, Amazon Web Service, Nike Inc., Adidas AG, Hennes & Mauritz AB (H & M), Luxottica Group S.p.A., Guccio Gucci S.p.A., Ralph Lauren Corporation, ASOS plc, Tommy Hilfiger Corporation, Snap Inc., Burberry Group plc, Hugo Boss Group, Tory Burch LLC, Zara España S.A., Farfetch Limited, Balenciaga SA, Obsess Inc., The Fabricant Agency B.V., Aura Vision Labs Ltd., More Dash Inc (DressX)
Table of Contents
1. Executive Summary
2. Immersive Fashion Market Report Structure
3. Immersive Fashion Market Trends And Strategies
4. Immersive Fashion Market — Macro Economic Scenario
5. Immersive Fashion Market Size And Growth
…..
27. Immersive Fashion Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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