Report : North America 3D Avatar Solution Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Solution and Services), Model (Stylized, Realistic, and Futuristic), and End User (Media and Entertainment, Healthcare, Fashion, and Others)
At 29.8% CAGR, the North America 3D Avatar Solution Market is speculated to be worth US$ 164.05 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America 3D avatar solution market was valued at US$ 34.28 million in 2022 and is expected to reach US$ 164.05 million by 2028, registering a CAGR of 29.8% from 2022 to 2028. Adoption of advanced technology like metaverse and 3D avatar in fashion industry and rise in development of new 3D avatar solutions are the critical factors attributed to the North America 3D avatar solution market expansion.
The fashion industry, over the last five years, has been experiencing rapid adoption of advanced technologies such as artificial intelligence (AI) and virtual reality (VR). The fashion industry is adopting several automated technologies for producing clothes and accessories for customized offerings and production of the same in less time. The industry is adopting AI for studying fashion trends among the population, and VR for designing clothes and accessories on 3D models for proper shaping & fitting. Fashion brands are adopting non-fungible tokens (NFTs) marketplaces for selling their products by offering services such as digital changing rooms and avatars. Thus, the fashion industry is rapidly adopting these NFTs platforms to sell their products owing to several benefits such as high-profit margin, secondary market profits, reduction in inventory wastage, and low design & production time. Therefore, these factors are positively influencing the demand for 3D avatar solutions in the fashion industry. Several fashion brands are also investing in the adoption of the metaverse for designing and selling their products. The rise in such partnerships and acquisitions by fashion brands in the adoption of various digital platforms to sell clothes and offer a personalized experience to customers is driving the demand for 3D avatar solutions, thereby contributing to the growth of the North America 3D avatar solution market.
On the contrary, high preference of shopping from of brick-and-mortar stores hurdles the growth of North America 3D avatar solution market.
Based on component, the North America 3D avatar solution market is bifurcated into solution and services. The solution segment held 71.6% market share in 2022, amassing US$ 24.55 million. It is projected to garner US$ 119.70 million by 2028 to expand at 30.2% CAGR during 2022–2028.
Based on model, the North America 3D avatar solution market is segmented into stylized, realistic, and futuristic. The stylized segment held 41.7% market share in 2022, amassing US$ 14.30 million. It is projected to garner US$ 65.14 million by 2028 to expand at 28.8% CAGR during 2022–2028.
Based on end user, the North America 3D avatar solution market is segmented into media and entertainment, healthcare, fashion, and others. The fashion segment held 36.8% market share in 2022, amassing US$ 12.61 million. It is projected to garner US$ 57.25 million by 2028 to expand at 28.7% CAGR during 2022–2028.
Based on country, the North America 3D avatar solution market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 72.8% market share in 2022. It was assessed at US$ 24.96 million in 2022 and is likely to hit US$ 121.72 million by 2028, exhibiting a CAGR of 30.2% during the forecast period.
Key players dominating the North America 3D avatar solution market are Bodygee AG, IN3D Inc, Itseez3D Inc, MotionWerx LLC, Polyga Inc, Texel Inc LLC, and TG3D Studio Inc among others.
- In 2021, Polyga Inc announced that they have upgraded and are expanding their Compact S1 professional 3D scanner series with two new models, which are S1 Standard and the S1 Wide. The new scanners provide a higher resolution projector which increases the scanner's accuracy by 25% and scanning speed by 50%.
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