Latest News- Metaverse Market In Fashion: Computer is expected to lead the Platform segment during 2025-2029

The Metaverse Market In Fashion is being driven by Growing number of fashion brands entering metaverse platform

The Metaverse Market In Fashion is expected to grow at a CAGR of 39.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 19581.5 million. In the realm of e-commerce, the metaverse represents a significant advancement, offering immersive virtual reality experiences for online shoppers. By utilizing their own customized avatars, consumers can interact with clothing apparel in real time within digital stores. E-commerce businesses that establish a metaverse presence enable customers to enter, explore, and purchase items, fostering communication with other users. This novel shopping experience in the metaverse significantly alters perceptions of both virtual and traditional retail environments, revolutionizing the clothing industry. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Platform
  • Computer
  • Mobile
  • Headset
• Device
  • VR or AR devices
  • Computing devices
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing number of fashion brands entering metaverse platform
• Increasing consumer demand for personalized and immersive shopping experiences
• Rising popularity of virtual tokens and nonfungible tokens

However, the market also witnesses some limitations, which are as follows:

• Privacy and security concerns over metaverse
• Complexities pertaining to integrating virtual fashion experiences across devices and platforms
• Limited market penetration in adult consumers

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Market Scope in Metaverse Market In Fashion Research Report

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Research Analysis Overview

In the Metaverse, a new lifestyle emerges as digital meets physical in the realms of fashion. NFTs (Non-Fungible Tokens) revolutionize clothing, with VR (Virtual Reality) and MR (Mixed Reality) providing immersive geographic landscapes. Start-ups innovate with VR headsets, MR headsets, HUDs, smart glasses, and helmets, merging natural user interfaces and gaming experiences. Digital technology players explore virtual wellness, offering fitness, mental health, and doctor-patient interaction in the medical sector. Blockchain secures this new industry, influencing trends set by industry leaders.

Market Research Overview

The Metaverse market in fashion is a significant segment of the global technology hardware, storage, and peripherals market, which encompasses the manufacturing of virtual reality (VR) equipment, including clothing and accessories sold as Non-Fungible Tokens (NFTs). This market is driven by the increasing adoption of VR technology and the digital experience economy. Technavio, a leading technology research firm, estimates the global technology hardware, storage, and peripherals market size based on revenue generated from hardware sales. Key growth factors include the escalating 4Vs of data - volume, velocity, veracity, and variety - necessitating advanced data storage solutions. The burgeoning number of data centers fuels this demand.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/