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Metaverse in fashion market size is set to grow by USD 6.61 billion from 2021 to 2026, Growing number of fashion brands entering the metaverse platform to boost the market – Technavio

NEW YORK, March 14, 2023 /PRNewswire/ — The global metaverse in fashion market size is estimated to grow by USD 6.61 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 36.47% during the forecast period. Moreover, the growth momentum will accelerate. The growing number of fashion brands entering the metaverse platform is a key factor driving the market growth. Fashion brands, including clothing apparel brands, are largely dependent on attractive labels and branding for sales. Clothing apparel brands use metaverse platforms to enhance brand awareness. Virtual product launches will improve brand awareness and consumer interaction. For more insights on the market – Request a sample report

What’s New?

  • Recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
  • Global competitiveness and key competitor positions 
  • Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – buy the report!

Metaverse in fashion market – Segmentation assessment
Segment overview
Technavio has segmented the market based on platform (computer, mobile, and headset). 

  • The computer segment will account for a significant share of the market growth during the forecast period. The metaverse provides a highly personalized digital experience. Many fashion brands are developing digital selling strategies, such as allowing clients to create customized goods. Moreover, large e-commerce companies are competing with each other to make products more accessible to customers. Such factors are expected to drive the segment’s growth during the forecast period.

Geography Overview
Based on geography, the global metaverse in the fashion market is segmented into North America, APAC, Europe, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global metaverse in the fashion market.

  • North America will account for 38% of the market’s growth during the forecast period. The US is a key contributor to the metaverse in the fashion market in the region. Moreover, market growth in this region will be faster than the growth of the market in South America and MEA. The presence of key vendors, growing investments in AR technology, a rise in the adoption of technologically advanced applications, and significant research activities will drive the metaverse in fashion market growth in North America during the forecast period.

Insights on the market contribution of various segments – Download a sample report

Metaverse in fashion market Market dynamics

Leading trends influencing the market 

  • The highly personalized digital experience is a key trend in the market.
  • Through metaverse technology, online shoppers will be able to engage with the clothing apparel of their choice in real-time using their own virtual avatars.
  • Customers will also be able to communicate with other users.
  • Moreover, brands will be able to provide shoppers with a highly personalized digital experience.
  • Many brands are developing digital selling strategies, allowing clients to create customized goods.
  • These factors will positively impact the growth of the global metaverse in fashion market during the forecast period.

Major challenges hindering the market growth

  • Privacy and security concerns over metaverse will challenge the metaverse in fashion market growth during the forecast period.
  • Metaverse collects and processes large amounts of data about users and their environment.
  • This may pose a threat to users’ privacy.
  • Moreover, hackers can gain access to users’ devices, such as VR and AR devices.
  • Smart glasses automatically screen and process a user’s environment, which violates their privacy.
  • Such developments may hinder the growth of the market during the forecast period.

Insights on market trends and challenges – Request a sample report!

What are the key data covered in this metaverse in fashion market report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the metaverse in fashion market between 2022 and 2026
  • Precise estimation of the size of the metaverse in fashion market and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the metaverse in fashion market across North America, APAC, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of metaverse in fashion market vendors

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Related Reports:

The metaverse in e-commerce market is estimated to grow at a CAGR of 39.65% between 2022 and 2027. The size of the market is forecasted to increase by USD 85,885.22 million. This report extensively covers market segmentation by platform (computer, mobile, and headset), technology (AR and VR, blockchain, mixed reality, and others), and geography (APAC, North America, Europe, South America, and Middle east and Africa).

The metaverse in entertainment market is estimated to grow at a CAGR of 9.07% between 2022 and 2027. The size of the market is forecasted to increase by USD 33,323.31 million. This report extensively covers market segmentation by end-user (film production, music labels, OTT platforms, television broadcasters, and others), component (hardware, software, and services), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

Metaverse in Fashion Market Scope

Report Coverage

Details

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 36.47%

Market growth 2022-2026

USD 6.61 billion

Market structure

Fragmented

YoY growth 2021-2022 (%)

30.5

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 38%

Key countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading vendors, market positioning of vendors, competitive strategies, and industry risks

Key companies profiled

Accenture Plc, Active Theory LLC, adidas AG, Alibaba Group Holding Ltd., Animoca Brands Corp. Ltd, ByteDance Ltd., Gap Inc., Globant SA, Infosys Ltd., Kering SA, Magic Leap Inc., Meta Platforms Inc., Microsoft Corp., Mobiloitte Technologies, NetEase Inc., NexTech AR Solutions Corp., Nike Inc., NVIDIA Corp., Queppelin, Roblox Corp., and Tencent Holdings Ltd.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents

1 Executive Summary

  • 1.1 Market overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Platform
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition 
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 12: Market segments
  • 3.4 Market outlook: Forecast for 2021-2026 
    • Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary 
    • Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers 
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers 
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants 
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes 
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry 
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition 
    • Exhibit 23: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by Platform

  • 5.1 Market segments 
    • Exhibit 24: Chart on Platform – Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Platform – Market share 2021-2026 (%)
  • 5.2 Comparison by Platform 
    • Exhibit 26: Chart on Comparison by Platform
    • Exhibit 27: Data Table on Comparison by Platform
  • 5.3 Computer – Market size and forecast 2021-2026
    • Exhibit 28: Chart on Computer – Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Computer – Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Computer – Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Computer – Year-over-year growth 2021-2026 (%)
  • 5.4 Mobile – Market size and forecast 2021-2026
    • Exhibit 32: Chart on Mobile – Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Mobile – Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Mobile – Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Mobile – Year-over-year growth 2021-2026 (%)
  • 5.5 Headset – Market size and forecast 2021-2026
    • Exhibit 36: Chart on Headset – Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on Headset – Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on Headset – Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on Headset – Year-over-year growth 2021-2026 (%)
  • 5.6 Market opportunity by Platform 
    • Exhibit 40: Market opportunity by Platform ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview 
    • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation 
    • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison 
    • Exhibit 44: Chart on Geographic comparison
    • Exhibit 45: Data Table on Geographic comparison
  • 7.3 North America – Market size and forecast 2021-2026
    • Exhibit 46: Chart on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on North America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on North America – Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on North America – Year-over-year growth 2021-2026 (%)
  • 7.4 APAC – Market size and forecast 2021-2026
    • Exhibit 50: Chart on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on APAC – Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on APAC – Year-over-year growth 2021-2026 (%)
  • 7.5 Europe – Market size and forecast 2021-2026
    • Exhibit 54: Chart on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on Europe – Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on Europe – Year-over-year growth 2021-2026 (%)
  • 7.6 South America – Market size and forecast 2021-2026
    • Exhibit 58: Chart on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on South America – Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on South America – Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on South America – Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa – Market size and forecast 2021-2026 
    • Exhibit 62: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
  • 7.8 US – Market size and forecast 2021-2026
    • Exhibit 66: Chart on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on US – Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on US – Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on US – Year-over-year growth 2021-2026 (%)
  • 7.9 China – Market size and forecast 2021-2026
    • Exhibit 70: Chart on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on China – Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on China – Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on China – Year-over-year growth 2021-2026 (%)
  • 7.10 Germany – Market size and forecast 2021-2026
    • Exhibit 74: Chart on Germany – Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on Germany – Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on Germany – Year-over-year growth 2021-2026 (%)
  • 7.11 UK – Market size and forecast 2021-2026
    • Exhibit 78: Chart on UK – Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on UK – Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on UK – Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on UK – Year-over-year growth 2021-2026 (%)
  • 7.12 Japan – Market size and forecast 2021-2026
    • Exhibit 82: Chart on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on Japan – Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on Japan – Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography 
    • Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.3 Impact of drivers and challenges 
    • Exhibit 87: Impact of drivers and challenges in 2021 and 2026

9 Vendor Landscape

  • 9.2 Vendor landscape 
    • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption 
    • Exhibit 89: Overview on factors of disruption
  • 9.4 Industry risks 
    • Exhibit 90: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered 
    • Exhibit 91: Vendors covered
  • 10.2 Market positioning of vendors 
    • Exhibit 92: Matrix on vendor position and classification
  • 10.3 adidas AG 
    • Exhibit 93: adidas AG – Overview
    • Exhibit 94: adidas AG – Business segments
    • Exhibit 95: adidas AG – Key news
    • Exhibit 96: adidas AG – Key offerings
    • Exhibit 97: adidas AG – Segment focus
  • 10.4 Globant SA 
    • Exhibit 98: Globant SA – Overview
    • Exhibit 99: Globant SA – Product / Service
    • Exhibit 100: Globant SA – Key news
    • Exhibit 101: Globant SA – Key offerings
  • 10.5 Kering SA 
    • Exhibit 102: Kering SA – Overview
    • Exhibit 103: Kering SA – Business segments
    • Exhibit 104: Kering SA – Key offerings
    • Exhibit 105: Kering SA – Segment focus
  • 10.6 Meta Platforms Inc. 
    • Exhibit 106: Meta Platforms Inc. – Overview
    • Exhibit 107: Meta Platforms Inc. – Business segments
    • Exhibit 108: Meta Platforms Inc. – Key news
    • Exhibit 109: Meta Platforms Inc. – Key offerings
    • Exhibit 110: Meta Platforms Inc. – Segment focus
  • 10.7 Microsoft Corp. 
    • Exhibit 111: Microsoft Corp. – Overview
    • Exhibit 112: Microsoft Corp. – Business segments
    • Exhibit 113: Microsoft Corp. – Key news
    • Exhibit 114: Microsoft Corp. – Key offerings
    • Exhibit 115: Microsoft Corp. – Segment focus
  • 10.8 Nike Inc. 
    • Exhibit 116: Nike Inc. – Overview
    • Exhibit 117: Nike Inc. – Business segments
    • Exhibit 118: Nike Inc. – Key news
    • Exhibit 119: Nike Inc. – Key offerings
    • Exhibit 120: Nike Inc. – Segment focus
  • 10.9 NVIDIA Corp. 
    • Exhibit 121: NVIDIA Corp. – Overview
    • Exhibit 122: NVIDIA Corp. – Business segments
    • Exhibit 123: NVIDIA Corp. – Key news
    • Exhibit 124: NVIDIA Corp. – Key offerings
    • Exhibit 125: NVIDIA Corp. – Segment focus
  • 10.10 Queppelin 
    • Exhibit 126: Queppelin – Overview
    • Exhibit 127: Queppelin – Product / Service
    • Exhibit 128: Queppelin – Key offerings
  • 10.11 Roblox Corp. 
    • Exhibit 129: Roblox Corp. – Overview
    • Exhibit 130: Roblox Corp. – Product / Service
    • Exhibit 131: Roblox Corp. – Key offerings
  • 10.12 Tencent Holdings Ltd. 
    • Exhibit 132: Tencent Holdings Ltd. – Overview
    • Exhibit 133: Tencent Holdings Ltd. – Business segments
    • Exhibit 134: Tencent Holdings Ltd. – Key offerings
    • Exhibit 135: Tencent Holdings Ltd. – Segment focus

11 Appendix

  • 11.2 Inclusions and exclusions checklist 
    • Exhibit 136: Inclusions checklist
    • Exhibit 137: Exclusions checklist
  • 11.3 Currency conversion rates for US$ 
    • Exhibit 138: Currency conversion rates for US$
  • 11.4 Research methodology 
    • Exhibit 139: Research methodology
    • Exhibit 140: Validation techniques employed for market sizing
    • Exhibit 141: Information sources
  • 11.5 List of abbreviations 
    • Exhibit 142: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Originally published at https://www.prnewswire.com/news-releases/metaverse-in-fashion-market-size-is-set-to-grow-by-usd-6-61-billion-from-2021-to-2026–growing-number-of-fashion-brands-entering-the-metaverse-platform-to-boost-the-market—technavio-301770480.html
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