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Global Virtual Mirror Market to reach USD XX million by 2027.

Global Virtual Mirror Market Size study, by Component (Software, Hardware and Services), by Deployment (Cloud and On-premises), by Technology (3D Body Scanning Photo Accurate VFR, 3D Augmented Reality & Virtual Reality and Others), Industry (Retail and Others) and Regional Forecasts 2021-2027

Product Code: ENGE-39464516
Publish Date: 12-10-2021
Page: 200

Global Virtual Mirror Market is valued approximately at USD XX Million in 2020 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2021-2027. A virtual mirror is a device that displays a user’s own image on a screen as if that screen is a mirror. This technology is used in online shopping and in-store shopping to show people how an apparel, handbag and other would suit them. Growing sale of fashion products on e-commerce platforms is pushing the need for virtual trial of the product on e-commerce platforms. Wide use of virtual exterior mirror in automotive sector owing to better viewing experience and rising number of fashion stores across the world are creating demand for virtual mirrors. According to Statista, apparel, footwear and accessories retail e-commerce revenue in United States, reached USD 110602 million in 2020 from USD 102542 million in 2019. Furthermore, new product launch and increased preference for hygiene for cosmetics and other retail items are expected to fuel demand for the virtual mirror in coming years. In June 2020, My Size Inc., launched Sweet Fit, an interactive virtual mirror. This mirror is equipped with augmented reality as it scans a human figure and display a virtual outfit. However, high cost of virtual mirror coupled with expensive maintenance may hinder the growth during forecast period.

Among Asia Pacific, North America, Europe, Latin America, and Rest of the World, North America is dominating the world market in terms of revenue, owing to presence of large retail brands and wide adoption by prominent automotive manufacturers. Whereas, Europe is expected to show significant growth rate during forecast period, due to growing adoption of virtual mirrors among retail and hospitality verticals.

Major market player included in this report are:

Cisco Systems, Inc.
Coitor IT TTech
FittingBox SA
Icon Multimedia, Sl
INDE
SenseMi ViuBox
Terawe Corp.
Textronics. Inc.
Virtooal
Virtual On Ltd

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:
Software
Hardware
Services
By Deployment:
Cloud
On-premises
By Technology:
3D Body Scanning
Photo Accurate VFR
3D Augmented Reality & Virtual Reality
Others
By Industry:
Retail
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global Virtual Mirror Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Virtual Mirror Market, by region, 2019-2027 (USD Billion)
1.2.2. Virtual Mirror Market, by Component, 2019-2027 (USD Billion)
1.2.3. Virtual Mirror Market, by Deployment, 2019-2027 (USD Billion)
1.2.4. Virtual Mirror Market, by Technology, 2019-2027 (USD Billion)
1.2.5. Virtual Mirror Market, by Industry, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Virtual Mirror Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Virtual Mirror Market Dynamics
3.1. Virtual Mirror Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Wide use of virtual exterior mirror in automotive sector
3.1.1.2. Growing sale of fashion products on e-commerce platforms
3.1.2. Market Restraint
3.1.2.1. High cost
3.1.2.2. Expensive maintenance
3.1.3. Market Opportunities
3.1.3.1. Increased preference for hygiene for cosmetics and other retail items
3.1.3.2. New product launches
Chapter 4. Global Virtual Mirror Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economic
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Virtual Mirror Market, by Component
5.1. Market Snapshot
5.2. Global Virtual Mirror Market by Component, Performance – Potential Analysis
5.3. Global Virtual Mirror Market Estimates & Forecasts by Component 2018-2027 (USD Billion)
5.4. Virtual Mirror Market, Sub Segment Analysis
5.4.1. Software
5.4.2. Hardware
5.4.3. Services
Chapter 6. Global Virtual Mirror Market, by Deployment
a. Market Snapshot
6.1. Global Virtual Mirror Market by Deployment, Performance – Potential Analysis
6.2. Global Virtual Mirror Market Estimates & Forecasts by Deployment 2018-2027 (USD Billion)
6.3. Virtual Mirror Market, Sub Segment Analysis
6.3.1. Cloud
6.3.2. On-premises
Chapter 7. Global Virtual Mirror Market, by Technology
b. Market Snapshot
7.1. Global Virtual Mirror Market by Technology, Performance – Potential Analysis
7.2. Global Virtual Mirror Market Estimates & Forecasts by Technology 2018-2027 (USD Billion)
7.3. Virtual Mirror Market, Sub Segment Analysis
7.3.1. 3D Body Scanning
7.3.2. Photo Accurate VFR
7.3.3. 3D Augmented Reality & Virtual Reality
7.3.4. Others
Chapter 8. Global Virtual Mirror Market, by Industry
c. Market Snapshot
8.1. Global Virtual Mirror Market by Industry, Performance – Potential Analysis
8.2. Global Virtual Mirror Market Estimates & Forecasts by Industry 2018-2027 (USD Billion)
8.3. Virtual Mirror Market, Sub Segment Analysis
8.3.1. Retail
8.3.2. Others
Chapter 9. Global Virtual Mirror Market, Regional Analysis
9.1. Virtual Mirror Market, Regional Market Snapshot
9.2. North America Virtual Mirror Market
9.2.1. U.S. Virtual Mirror Market
9.2.1.1. Component breakdown estimates & forecasts, 2018-2027
9.2.1.2. Deployment breakdown estimates & forecasts, 2018-2027
9.2.1.3. Technology breakdown estimates & forecasts, 2018-2027
9.2.1.4. Industry breakdown estimates & forecasts, 2018-2027
9.2.2. Canada Virtual Mirror Market
9.3. Europe Virtual Mirror Market Snapshot
9.3.1. U.K. Virtual Mirror Market
9.3.2. Germany Virtual Mirror Market
9.3.3. France Virtual Mirror Market
9.3.4. Spain Virtual Mirror Market
9.3.5. Italy Virtual Mirror Market
9.3.6. Rest of Europe Virtual Mirror Market
9.4. Asia-Pacific Virtual Mirror Market Snapshot
9.4.1. China Virtual Mirror Market
9.4.2. India Virtual Mirror Market
9.4.3. Japan Virtual Mirror Market
9.4.4. Australia Virtual Mirror Market
9.4.5. South Korea Virtual Mirror Market
9.4.6. Rest of Asia Pacific Virtual Mirror Market
9.5. Latin America Virtual Mirror Market Snapshot
9.5.1. Brazil Virtual Mirror Market
9.5.2. Mexico Virtual Mirror Market
9.6. Rest of The World Virtual Mirror Market
Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Cisco Systems, Inc.
10.2.1.1. Key Information
10.2.1.2. Overview
10.2.1.3. Financial (Subject to Data Availability)
10.2.1.4. Product Summary
10.2.1.5. Recent Developments
10.2.2. Coitor IT TTech
10.2.3. FittingBox SA
10.2.4. Icon Multimedia, Sl
10.2.5. INDE
10.2.6. SenseMi ViuBox
10.2.7. Terawe Corp.
10.2.8. Textronics. Inc.
10.2.9. Virtooal
10.2.10. Virtual On Ltd.

Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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