The global homeware market will register a CAGR of almost 7% by 2023.
LONDON, Nov. 13, 2018 /PRNewswire/ --
129 pages, November 2018
About this market
The growing demand for smart homes and the development of smart cities is identified as one of the key trends that will gain traction in the market during the estimated period. Many countries are undertaking smart city projects. The number of smart cities is expected to increase, and vendors are planning to develop new devices and software specifically for smart cities. Technavio's analysts have predicted that the global homeware market will register a CAGR of almost 7% by 2023.
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Market Overview
Growing construction industry globally
The demand for luxury and superior quality homeware products is increasing among customers around the world due to the growth in the real estate industry and residential establishments.
High competition from unorganized players are low product replacement cycle
Well-established vendors face high competition from unorganized players that are not registered with the respective governments and have irregular terms of employment.
For the detailed list of factors that will drive and challenge the growth of the homeware market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies and the competitive environment is quite intense. Factors such as the growing demand for smart homes and the development of smart cities and demand for luxury and superior quality homeware products will provide considerable growth opportunities to homeware market manufactures. Amazon, Bed Bath & Beyond, Home Depot Product Authority, Target Brands, and Walmart are some of the major companies covered in this report.
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