NEW YORK, Jan. 18, 2022 /PRNewswire/ -- The latest online home décor market report by Technavio indicates that the increased online spending of consumers and smartphone penetration is driving this market's growth.
Resulting in market growth of USD 52.95 billion from 2020 to 2025, read additional information about the online home decor market. Get FREE sample report.
Vendor Landscape
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.
Amazon.com Inc., Ashley Furniture Industries Inc., Bed Bath and Beyond Inc., Inter IKEA Holding BV, Herman Miller Inc., Urban Outfitters Inc., LaZBoy Inc., Wayfair Inc., Walmart Inc. and Williams-Sonoma Inc. among others are some of the few key vendors competing to maintain their market position in the market.
Various players in the market are engaging in strategic partnerships and joint ventures coupled with launching differentiated products to enhance their game in the online home décor industry.
View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
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Regional Market Outlook
Europe will contribute to 42% of the market growth during the forecast period. The growth of this region can be attributed to increase in residential construction projects due to the expansion of urban population base. This region is expected to witness faster growth than the other market regions such as North America, South America, and MEA.
Apart from regions, if we look at the country-wise market growth, Germany and UK are the key markets driving the online home décor in Europe.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Trends, Driving the Global Online Home Décor Market
The rise in internet penetration and online shopping through smartphones is one of the key drivers for the global online home décor market share growth. As websites provide more detailed information about the product quality, user guidance, safety measures which, in turn, is rising the demand for e-retailing. Moreover, consumers are a lot more comfortable purchasing on-the-go, along with the inclusion of secured payments, free delivery, and improved user interface. Therefore, rising online retail is a key driver for the growth of online home décor market during the forecast period.
The rise in consciousness for a healthy environment is another key driver enhancing the online home décor market share growth during the forecast period. Moreover, the stringent government regulations for monitoring the usage of non-recyclable components is forcing the brand owners to opt for eco-friendly furniture and other-furnishing products. This has motivated various home decor manufacturers to go green and provide eco-friendly home decor items. Therefore, the increased environmental concerns resulting in the use of eco-friendly manufacturing material is positively impacting the global online home décor market.
Find additional information about various other market drivers & trends mentioned in our FREE sample report.
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Online Home Decor Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9% |
Market growth 2021-2025 |
$ 52.95 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.30 |
Regional analysis |
Europe, North America, APAC, South America, and MEA |
Performing market contribution |
Europe at 42% |
Key consumer countries |
US, UK, China, Germany, Canada, and Japan |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key 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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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. |
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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.
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SOURCE Technavio
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