The global online clothing rental market is segmented based on end-users, clothing styles, and geography.

Portland, OR -- (SBWire) -- 11/07/2017 --According to a new report published by Allied Market Research, titled, Online Clothing Rental Market by End User and Clothes Style: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global online clothing rental market was valued at $1,013 million in 2017, and is estimated to reach $ 1,856 million by 2023, registering a CAGR of 10.6% from 2017 to 2023.

North America is the market leaders and accounted for 40% share of the global market in 2017, followed by Europe in geographical segment. In addition, Asia-Pacific is estimated to grow at the highest CAGR as projected to be 11.4% during the forecast period. The market is increasing in developing economies of Asia-Pacific mainly because of the need of an economical alternative to direct purchasing each time, gradual increase in social acceptance of rental clothes, and overall increase in sales in online clothing industry.

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The primary driver of the global online clothing rental market is the increase in ease of use of online retail. Moreover, rapid advancement observed in internet penetration, growing popularity of online shopping portals over the last decade as boost the market. The advancement in mobile internet technology has further driven the demand for online rental by making the process even more convenient.

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Rapid growth and rise in urbanization have spawned consumers with more expenditure in the market and an urge for fashion. Significant new growth opportunities for foreign and domestic players are observed, owing to high-growth and fast-changing retail and online clothing market in the Asia-Pacific region.

Online Clothing Rental Market Key Segments:

By End Users

-Women
-Men
-Kids

By Clothing Styles

-Ethnic
-Western
-Others