Online Home Decor Market Growth Dominated by Home Furniture and Furnishing Segments
PUNE, India, May 2, 2016 /PRNewswire/ --
According to the online home decor market 2016 report, in 2015 global online home furniture market and global online home furnishings market, combined, were worth $39.9 Billion, with overall global furnishings market forecast to grow at a CAGR of 8.87% in the next five years. With smartphones and increasing Internet penetration, consumers can now check and buy products online while on the move. This feature has led a significant number of vendors to conduct their business operations online. Vendors in the online home decor market also provide hassle-free home delivery options to customers.
Complete report on online home decor market spread across 68 pages, analyzing 4 major companies and providing 37 data exhibits is now available at http://www.sandlerresearch.org/global-online-home-decor-market-2016-2020.html
Analysts forecast global online home decor market to grow at a CAGR of 19.45% during the period 2016-2020.Growing environmental consciousness and concern for a healthy environment have led to increased demand for eco-friendly furniture and other furnishings. Awareness of the effect of deforestation on climate change and the effects of toxic finishes in the air inside homes has led many furniture manufacturers to go green. Manufacturers offer a wide range of aesthetic furniture constructed using bamboo, which is stronger and harder than most other wood, including oak.
In 2015, the home furniture segment dominated the market and accounted for more than 47% of the market share in terms of revenue. The online home furniture markets in developed countries such as the US, Japan, the UK, and Germany are mature. Nearly 40% of the revenue from home furniture came from these developed markets in 2015. Factors such as the availability of detailed catalogs with defined product categories on most e-commerce platform and the ease and convenience of online shopping will impel the growth prospects for this market over the forecast period.
Europe dominated the global online home decor market and held a market share of more than 44% during 2015. The increased sale of premium-priced and customized home décor products in the UK, France, Italy, and Germany and the presence of leading vendors like IKEA in the region will contribute to the growth of this market in Europe in the coming years.
The global online home decor market is fragmented due to the presence of a few international vendors and several regional players in the market. Vendors in the market compete on the basis of product portfolio, differentiation, and pricing to gain maximum market traction during the forecast period. To survive and succeed in highly competitive environment, vendors need to distinguish their product and service offerings through a clear and unique value proposition.
Key players in the global online home decor market: Amazon, Bed Bath & Beyond, IKEA, and Wayfair. Other prominent vendors in the market are: Ashley Furniture, ATG Stores, Cabela's, Carrefour, Costco Wholesale, Herman Miller, Home24, J.C. Penney, Otto, Sears Holdings, Target, Tesco, and Walmart. Order a copy of Global Online Home Decor Market 2016-2020 report @ http://www.sandlerresearch.org/purchase?rname=53689
Further, the online home decor market report states that despite the availability of numerous apps and other services online, choosing the correct product with the correct dimensions can be a concern for consumers.
Another related report is Global Home Furnishings Market 2016-2020, which forecasts worldwide home furnishings market to grow at a CAGR of 5.36% during the period 2016-2020. The home furnishings market will show positive growth during the forecast period. The growing globalization of companies has played a major role in driving the market, allowing top players to expand their operations and meet customer needs across boundaries. Browse complete report @ http://www.sandlerresearch.org/global-home-furnishings-market-2016-2020.html
Key players in the global home furnishings market: Bed Bath & Beyond, IKEA, Macy's, and Walmart. Other prominent vendors in the market are: 9to5 Seating, Amazon, ATG Stores, Berco Furniture Solution, Clarin, Carrefour, Costco Wholesale, Creative Wood, Godrej & Boyce, HNI, Herman Miller, Godrej & Boyce, J.C. Penney, KI, Knoll, Steinhoff International, Target, Tesco, and Wayfair.
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