Dublin, Jan. 07, 2025 (GLOBE NEWSWIRE) -- The "Immersive Fashion Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global immersive fashion market is undergoing a dynamic expansion, as evidenced by remarkable growth rates and increasing investment in innovation. Current estimations project the market to escalate from a notable $1.97 billion in 2023 to an impressive $2.42 billion in 2024, representing a robust compound annual growth rate (CAGR) of 22.7%. This surge is attributed to various factors including the rise of online shopping, advancing personalization trends, and burgeoning virtual platforms - all encapsulated within the immersive fashion experience.
Technological Innovations Fueling Growth
Incorporation of advanced technologies is a key driver in the immersive fashion industry, with stakes set high for continuous growth, projected at a CAGR of 22.8%, reaching an anticipated $5.49 billion by 2028. Technological advancements, wearable tech, digital prototyping, alongside virtual shows, are expected to underpin this growth. Furthermore, sustainability efforts within the sector represent both a conscious shift and a market trend.
Strategic Moves by Leading Players
Prominent market participants are embarking on strategic enhancements and collaborations to cater to the evolving consumer landscape and strengthen market positioning. Recent initiatives include the launch of virtual try-on applications and the adoption of augmented reality to enrich consumer engagement and facilitate innovative shopping experiences.
Regional Developments
From a geographical standpoint, Europe was at the forefront of the immersive fashion market in 2023, while Asia-Pacific is projected to be the fastest-growing region in the coming years. An expanding consumer base and growing technological adoption are contributing to this regional market dynamism.
Decoding Immersive Fashion
Immersive fashion is redefining the consumer experience by interweaving digital technology with physical apparel. The market revolves around the implementation of augmented reality (AR), virtual reality (VR), and mixed reality (MR), proposing an enhanced and interactive fashion narrative.
Market Value and Scope
The market's valuation incorporates revenues generated from an array of services, including virtual styling, digital fashion shows, and try-on experiences, as well as the sale of virtual accessories and 3D fashion models. Such revenues are testament to the market's vigorous environment and its potential for further expansion.
This press release presents an overarching view of the market's current state and future potential, underscoring the interplay between technological innovation and consumer engagement driving the immersive fashion industry. The insights provided reflect on the market's contribution to the broader fashion and technological sectors, offering a comprehensive understanding of its trajectory.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $2.42 Billion |
| Forecasted Market Value (USD) by 2028 | $5.49 Billion |
| Compound Annual Growth Rate | 22.8% |
| Regions Covered | Global |
The major companies profiled in this Immersive Fashion market report include:
- 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)
For more information about this report visit https://www.researchandmarkets.com/r/8i1fyc
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