NEW YORK, March 10, 2022 /PRNewswire/ -- According to Technavio, the online home decor market is estimated to grow by USD 52.95 bn from 2020 to 2025. The market is projected to progress at a CAGR of 9% during the forecast period.
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Online Home Decor Market: Driver
The rise in online spending and smartphone penetration is one of the key factors driving the growth of the online home decor market. Online shopping through smart devices has gained popularity over the years because of the high penetration of Internet services, improved economic growth, and the up-gradation of purchase and delivery options with the emergence of m-commerce. Security features for online payments, free delivery, improved online customer services, and the customer-friendly designs of online shopping websites are also contributing to the growth of the market. Increasing online sales act as a key market driver for the growth of the global online home decor market. The rising emphasis on mobile commerce is mainly driven by the purchase of millions of new smartphones and the creation of more opportunities for buyers to shop.
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Online Home Decor Market: Segmentation Analysis
By product, the market has been segmented by online home furniture, online home furnishings, and other online home decorative products. The online home furniture segment will have significant market share growth during the forecast period. The preference for online shopping is increasing, backed by the growing Internet penetration rate and the increasing number of smartphone users worldwide. The online channel allows manufacturers to expand their distribution networks by partnering with third-party e-retailers or establishing their own online shopping portals.
By geography, the market has been segmented by Europe, North America, APAC, South America, and MEA. Europe will account for 42% of the market's growth during the forecast period. The UK and Germany are the key countries for the online home decor market in Europe. Moreover, market growth in this region will be faster than the growth of the market in the North American, South American, and MEA regions.
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Online Home Decor Market: Key Vendors and their Offerings
The online home decor market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. The key offerings of some of the key vendors are listed below:
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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 |
USD 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. |
Table of Contents
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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