Online Home Decor Market Size to record USD 52.95 Bn growth — Technavio identifies Europe as key market
NEW YORK, July 14, 2022 /PRNewswire/ — The global online home decor market is forecasted to grow by USD 52.95 billion, accelerating at a CAGR of 9{6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827} between 2020 and 2025. Technavio segments the market by product (online home furniture, online home furnishings, and other online home decorative products) and geography (Europe, North America, APAC, South America, and MEA). The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.
Key points covered in the online home decor market study:
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Market estimates and forecast 2021-2025
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Key drivers, trends, and challenges impacting market growth
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Segment-wise, region-wise, and country-wide analysis
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Analysis on market share by vendors
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Key product launches and regulatory climate
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Post-COVID-19 impact on the market landscape. Download PDF Report Sample
Globalization has created various channels for the import and export of home decor products across the world. This is encouraging many global manufacturing companies to expand their production networks across geographies. For instance, In September 2019, IKEA announced its plans to invest USD 1.4 billion in China and open a few more stores in the country. In December 2020, the company opened its store in Mumbai, India. In addition, growing urbanization and the expansion of the real estate industry have increased the construction and sales of luxury apartments and high-end villas in emerging markets. Many such factors are creating significant growth opportunities for vendors operating in the online home decor market.
Technavio categorizes the global online home decor market as a part of the global home furnishings market within the global household durables industry. The parent global home furnishings market covers products and companies engaged in manufacturing/marketing of furniture, home textiles, floor coverings, and decorative products.
The online home decor market is primarily driven by the rise in online spending and smartphone penetration. Shopping through online channels has gained significant popularity over the years. Factors such as the high penetration of internet services, improved economic growth, and the emergence of m-commerce have increased consumer spending online. To capitalize on this trend, many vendors in the market are launching their own applications and ensure secure online payments, free delivery, improved online customer services, and customer-friendly designs. Such developments are expected to have a positive impact on the growth of the online home decor market during the forecast period.
The full report provides information on other drivers, trends, and challenges that are impacting the growth of the market. Request a Sample PDF Report
Europe to dominate the online home decor market with 42{6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827} share and the market will record the highest growth in the region during the forecast period. The expansion of the urban population is creating a need for the construction of residential projects, which is consequently driving the demand for home decor products in Europe. Besides, the availability of low-interest rates, easy access to mortgages, and an increase in the immigrant population are expected to further foster the growth of the regional market.
Online home furniture segment to generate maximum revenue in the online home decor market. The segment includes products such as chairs, tables, beds, sofas, cupboards, stools, desks, and benches. The demand for these products is increasing due to the growing Internet penetration rate and the increasing number of smartphone users worldwide. The market growth in the segment will be significant during the forecast period.
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The global online home decor market is fragmented and is characterized by the presence of several established players. Vendors are focusing on adopting various organic and inorganic growth strategies to remain competitive in the market. Some of the key strategies include new product launches, competitive pricing, strategic alliances, and mergers and acquisitions.
Some of the key players in the online home decor market include:
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Related Reports:
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Online Home Decor Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9{6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827} |
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Market growth 2021-2025 |
USD 52.95 billion |
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Market structure |
Fragmented |
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YoY growth ({6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827}) |
7.30 |
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Regional analysis |
Europe, North America, APAC, South America, and MEA |
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Performing market contribution |
Europe at 42{6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827} |
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Key consumer countries |
US, UK, China, Germany, Canada, and Japan |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Amazon.com Inc., Ashley Furniture Industries Inc., Bed Bath & Beyond Inc., Herman Miller Inc., Inter IKEA Holding BV, LaZBoy Inc., Urban Outfitters Inc., Walmart Inc., Wayfair Inc., and Williams-Sonoma Inc. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period. |
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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. |
Table of Contents:
Executive Summary
Market Landscape
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Market ecosystem
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Value chain analysis
Market Sizing
Five Forces Analysis
Market Segmentation by Product
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Market segments
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Comparison by Product
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Online home furniture – Market size and forecast 2020-2025
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Online home furnishings – Market size and forecast 2020-2025
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Other online home decorative products – Market size and forecast 2020-2025
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Market opportunity by Product
Customer landscape
Geographic Landscape
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Geographic segmentation
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Geographic comparison
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Europe – Market size and forecast 2020-2025
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North America – Market size and forecast 2020-2025
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APAC – Market size and forecast 2020-2025
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South America – Market size and forecast 2020-2025
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MEA – Market size and forecast 2020-2025
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Key leading countries
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Market opportunity by geography
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Market drivers
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Market challenges
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Market trends
Vendor Landscape
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Vendor landscape
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Landscape disruption
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides 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.
Contact
Technavio Research
Jesse Maida
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US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
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