Wilmington, Delaware, United States, Aug. 11, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global market for online home decor was estimated to have garnered a global market valuation around US$ 171 billion in 2022. The market is anticipated to grow with a steady 7% CAGR from 2022 to 2031 and by 2031; the market is likely to reach a valuation of US$ 313.5 billion.
Customers presently receive a virtually perfect and immersive shopping experience when they purchase online. This includes items being appropriately arranged and divided depending on color, use, and available space, as well as the use of augmented as well as virtual reality.
Users may build up an entire house or workplace using applications and portals that support AR and VR, helping them see and select the best furnishings. The global market is being driven by consumers’ need for high-end home decor furnishings and accessories to give their houses a classic appearance.
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|Market Revenue||US$ 171.0 Bn|
|Estimated Value||US$ 313.5 Bn|
|Growth Rate – CAGR||7.0%|
|No. of Pages||150 Pages|
|Market Segmentation||By Product Type, Price Category, Distribution Channel|
|Regions Covered||North America, Europe, Asia Pacific, Middle East & Africa, South America|
|Companies Covered||Ashley Home Stores, Ltd., Herman Miller, Inc., Home 24 SE, Home Depot Product Authority, IKEA Systems BV, Kimball International, Inc., Lowe’s Companies, Inc., Pepperfry, Signify Holding (Philips), Springs Window Fashions|
Key Findings of tea Market Report
- During the projected period, the furniture sector is anticipated to have the biggest global online home decor market share.
- Demand for bed and bath linens will probably increase, which will fuel the online home décor sector.
- Europe is an appealing market for online home decor due to customers’ growing preference for online home decor buying.
Market Trends for Online Home Decor
- During the projected period, the furniture sector is anticipated to have the biggest global online home decor market share. This is attributed to an increase in consumer expenditure on enhancing interior design to boost sales of home dcor and an increase in disposable income for consumers.
- With furniture acting as the representation of big durable commodities, the furniture sector has steadily adapted to the e-commerce marketing strategy as the Internet economy continues to grow and the logistics system gets better.
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Online Home Decor Regional Market Outlook
- Europe is seeing an enormous increase in demand on the worldwide market, which is followed by Asia Pacific as well as South America. Europe is becoming a desirable market for online home decor due to customers’ growing inclination for online home decor purchasing and their demand for fashionable, distinctive collections and multifunctional goods.
- Leading players are using the internet sales channel to launch creative and affordable items. For example, Fabindia debuted its new Vardaniya as well as Vatika home décor collections on 2022. The collection contained serve ware, lights, pillows, table linen, curtains, home décor, and collectibles. A growing millennial generation that is consistently spending money on home furnishings is having an impact on the market’s overall expansion.
Global Online Home Decor Market: Key Players
To assess their financials, significant product offerings, recent advancements, and strategies, the companies within the online home decor market research are given in-depth profiles. The majority of businesses invest a lot on thorough research and development initiatives, mostly to create cutting-edge items. The two main tactics used by firms in the international market are product portfolio expansion as well as merger & acquisition.
Inter IKEA Systems BV, Home Depot Product Authority, LLC, Kimball International, Inc., Herman Miller, Inc., Ashley Home Stores, Ltd., Home 24 SE, Lowe’s Companies, Inc., Signify Holding (Philips), Springs Window Fashions , and Pepperfry are some of the major companies active in the global online home decor market.
Some developments by the key players in the global market for online home decor are:
- Overstock debuted Bed Bath & Beyond, its new American website, in 2023. All Overstock.com clients are now sent to BedBathandBeyond.com following the formal rebranding of Overstock.com as Bed Bath & Beyond. The online store Bed Bath & Beyond sells items for the kitchen, bedroom, and bathroom as well as furniture and home accessories like carpets and lighting.
- Mensa Brands introduced fresh merchandise under the Folkulture home decor brand in 2023. The brand has now entered the Indian market and is already available on Amazon in the United States, the United Kingdom, and Canada. The business offers around 1,000 goods in more than 30 categories. For the purpose of accelerating its expansion in the furniture industry, the business bought Folkulture in 2021.
- The Home Depot unveiled StyleWell Kids in 2022, a fresh, in-vogue home decor brand with over 65 kid-friendly furniture. The new StyleWell kid’s product line, a unique collection, is made to enable families to furnish a child’s room that is distinctly individual. Collections from StyleWell Kids include modern princess, park ranger, dreamer, adventurer, and captain, among others. In order to serve customers of all ages, the firm aims to concentrate on both adult and children’s home design items.
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Global Online Home Decor Market Segmentation
- Product Type
- Living Room
- Bath Linen
- Kitchen Linen
- Ceramic & Stone Tiles
- Wood & Laminates
- Vinyl Flooring
- Carpets & Rugs
- wall decor
- wall decals
- Metal Works
- Lamps & Shades
- Price Category
- Distribution Channel
- Company Website
- E-Commerce Website
- North America
- Middle East & Africa
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