Online Home Decor Market by Product and Geography - Forecast and Analysis 2020-2024
発行: TechNavio (Infiniti Research Ltd.)
ページ情報: 英文 144 Pages
Technavio's online home decor market analysis considers sales from online home furniture, online home furnishings, and other online home decorative products. Our study also finds the sales of online home decor in APAC, Europe, MEA, North America, and South America. In 2019, the online home furniture segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising internet penetration rates and growing smartphone adoption will play a significant role in the online home furniture segment to maintain its market position. Also, our global online home decor market report looks at factors such as increasing residential construction, increase in demand for multifunctional furniture, rising popularity of blogs related to interior designing, and benefits of buying home decor products online. However, strict competition from offline channel, long product replacement cycle resulting in infrequent purchases, and high volatility in raw material prices and transportation costs may hamper the growth of the online home decor industry over the forecast period.
Developed countries such as the US and Canada are making significant investments in infrastructural development, which has increased the number of new residential construction projects in these countries. In addition, the growing number of renovation and modification projects and the rising focus on the development of infrastructure and real estate in developing countries such as China and India have increased the demand for furniture and furnishings. Also, factors such as the growth of e-commerce resulting from the increase in internet penetration and growth of the organized retail sector are encouraging the tech-savvy population to order home furnishing items online. This increasing residential construction will lead to the expansion of the global online home decor market at a CAGR of almost 13% during the forecast period.
Vendors are integrating the latest technologies such as AR and VR to help customers choose the best home decor products for their homes. For instance, some vendors are introducing apps that let customers enter the dimensions of their rooms and virtually experience the space equipped with home decor and furnishing products. Hereafter, customers can order the items online with the help of mobile applications. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global online home decor market during the forecast period 2020-2024, view our report.
With the presence of several major players, the global online home decor market is fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading online home decor manufacturers, that include Bed Bath & Beyond Inc., Chairish Inc., Coyuchi Inc., Herman Miller Inc., Home24 SE, Inter IKEA Holding B.V.,Lowe's Companies Inc., Pier 1 Imports Inc., Trendsutra Platform Services Pvt. Ltd., and Urban Ladder Home Decor Solutions Pvt. Ltd.
Also, the online home decor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.