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Emerging gaming and fashion industries will provide growth opportunities for the 3D avatar solutions market during 2022-2028
New York, USA, February 21, 2023 /EINPresswire.com/ — According to our latest market research”3D Avatar Solution Market Forecast to 2028 – Global Analysis – By Component, Model and End User”, the market is projected to grow from USD 106.43 million in 2022 to USD 544.87 million in 2028; it is projected to grow at a CAGR of Annual growth to 31.3% from 2022 to 2028.
3D Avatar Solutions Market – Strategic Insights
Report scope details
Market size worth USD 106.43 million in 2022
Market size worth USD 544.87 million by 2028
CAGR of 31.3% from 2022 to 2028
Forecast period 2022-2028
Base year 2022
Pages 158
Number of tables 83
Number of Charts 83
Historical data available is
Segmentation covers components, models and end users
Regional coverage North America, Europe, Asia Pacific, Middle East and Africa, South and Central America
Country coverage United States, Canada, Mexico, United Kingdom, Germany, Spain, Italy, France, India, China, Japan, Korea, Australia, United Arab Emirates, Saudi Arabia, South Africa, Brazil, Argentina
Report Scope Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors and Trends
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The global fashion industry has experienced rapid integration of advanced technologies in its apparel, design, and manufacturing processes. Global fashion brands such as Zara, Gucci, Burberry, Adidas, and Nike have all launched their virtual storefronts, where consumers can shop for clothes and accessories for their avatars. For example, in July 2019, Under Armor partnered with Alvanon to announce the launch of its 3D fashion designs to improve sizing and standardization of its activewear. Hence, the growing popularity of 3D designing of apparel and accessories using advanced technologies is driving the adoption of 3D avatar solutions in the global fashion industry, thereby boosting the growth of the 3D avatar solutions market over the forecast period.
Over the past five years, the fashion industry has been rapidly adopting advanced technologies such as artificial intelligence (AI) and virtual reality (VR). The fashion industry is adopting several automation technologies to produce garments and accessories for custom-made products and to do so in less time. The industry is using AI to study the fashion trends of the global population and VR to design clothing and accessories on 3D models for proper shape and fit. The aforementioned technologies are expected to drive the market size of 3D avatar solutions.
Global fashion brands are adopting non-fungible token (NFT) marketplaces to sell their products by offering services such as digital dressing rooms and avatars. For example, in February 2021, Nike digitally sold more than 500 pairs of sneakers through the RTFKT platform. Buyers will have the option to try on the sneakers virtually by creating their digital avatar and trying out their favorite colors and styles. Similarly, in June 2021, Gucci sold a bag for $4,000 on the Roblox platform. Such developments will enable the rise of the market for 3D avatar solutions.
Therefore, the fashion industry is rapidly adopting these NFT platforms to sell their products due to the many benefits such as high profit margins, secondary market profits, reduced inventory waste, and short design and production times. Hence, these factors are positively influencing the demand for 3D avatar solutions in the global fashion industry, thereby affecting the market size of 3D avatar solutions.
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Key findings of the market research:
The Middle East and Africa 3D avatar solutions market is segmented into South Africa, Saudi Arabia, UAE, and Rest of MEA. The healthcare industry in MEA has experienced significant growth owing to rising investments in the industry by both private and public players. The rapid adoption of various healthcare technologies has increased the efficiency of the healthcare system in the region. As a result, healthcare technology companies are developing new and innovative healthcare products for the treatment of various diseases and disorders. For example, MEA-based healthcare startup Esaal raised $1.7 million in June 2022 to develop a telemedicine platform. The platform is expected to integrate advanced technology and live-action characters to provide visitors with a personalized experience.
Over the years, the UAE fashion industry has been thriving. The rapid adoption of digital solutions is supporting the fashion industry across the country, including the shift of urban populations to e-commerce. As fashion brands increasingly adopt digital marketing strategies to cater to modern digital audiences, the digitization of the fashion industry is expected to regulate the industry path in the coming years. These factors are expected to lead to increased demand for 3D avatars, thereby penetrating the 3D avatar solutions market. Additionally, in October 2021, the country hosted the Future Blockchain Summit, focusing on 3D NFT meta-avatars. Such events are expected to raise awareness about 3D avatar across industries in the country and encourage investors to invest in it, thereby offering lucrative opportunities for the country’s 3D avatar solutions market share.
3D Avatar Solutions Market: Competitive Landscape and Key Developments
MotionWerx LLC, Texel Inc LLC, Osensus GmbH, Bodygee AG, Polyga Inc, IN3D Inc, TG3D Studio Inc, Itseez3D Inc, 3D Generation GmbH, and NeXR Technologies SE are some of the major 3D avatar solutions market players profiled during the study. In the course of this market study, several other significant 3D Avatar Solutions market players are studied and analyzed to gain a comprehensive understanding of the market and its ecosystem.
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The Insight Partners is a one-stop industry research provider for actionable intelligence. We help clients obtain solutions for their research needs through syndicated and consultative research services. We specialize in industries such as Semiconductor & Electronics, Aerospace & Defense, Automotive & Transportation, Biotechnology, Healthcare IT, Manufacturing & Construction, Medical Devices, Technology, Media & Telecommunications, and Chemicals & Materials.
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