Technavio’s Online Home Decor Market Report Highlights Key Findings of Vendor Landscape, Regions, and Latest Drivers and Trends

Supplier Landscape
The market structure is expected to remain fragmented over 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 position in the market.

Various market players are engaging in strategic partnerships and joint ventures coupled with the launch of differentiated products to up their game in the online home decor industry.

See more on the highlights of the market vendor landscape with a comprehensive list of vendors and their offerings.

Key market segmentation

  • Segmentation by product:
    • Home furnishings online:
      • Rising preference for online shopping is significantly driving the growth of online home furniture market share.
      • The online channel allows manufacturers to partner with other third-party online retailers and expand their distribution network or even create their own online shopping portals. Moreover, it has allowed manufacturers to ensure that products sold offline are also available online. Additionally, Tier I and Tier II cities are the target markets primarily for furniture manufacturers as sellers in these cities provide access to all the operating requirements of their online distribution channels such as logistics and online retailers.
    • Furniture online
    • Other decoration products online

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Regional Market Outlook
Europe will contribute 42% of the market growth over the forecast period. The growth of this region can be attributed to the increase in residential construction projects due to the expanding urban population. This region is expected to grow faster than other market regions such as North America, South Americaand MEA.

Outside of regions, if we look at market growth by country, Germany and the UK are the top markets driving home decor online in Europe.

Download our FREE sample report for more key highlights on the regional market share of most of the countries mentioned above.

Latest Trends Driving the Global Online Home Decor Market

  • Market engine:
    • Rising online spending and smartphone penetration:

Rising internet penetration and online shopping via smartphones is one of the major drivers for the growth of the global online home decor market share. As the websites provide more detailed information about product quality, usage tips, safety measures, which in turn increases the demand for online retail. Additionally, consumers are much more comfortable shopping on the go, with the inclusion of secure payments, free shipping and an improved user interface. Hence, the increase in online retail is a key driver for the growth of the online home decor market over the forecast period.

  • Market trend:
    • Growing demand for eco-friendly interior design:

Growing awareness of healthy environment is another key factor enhancing the growth of online home decor market share over the forecast period. Additionally, strict government regulations in controlling the use of non-recyclable components compel brand owners to opt for eco-friendly furniture and other home furnishing products. This has motivated various home decor manufacturers to go green and provide eco-friendly home decor items. Hence, growing environmental concerns resulting from the use of eco-friendly manufacturing materials are positively impacting the global online home decor market.

Find additional information on various other market drivers and trends mentioned in our Sample FREE Report.

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Related reports:

Online Furniture by Market Application and Geography – Forecast and Analysis 2020-2024

Home Furnishings Market by Product and Geography – Forecast and Analysis 2021-2025

Online Home Decor Market Scope

Report cover

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 9%

Market Growth 2021-2025

$52.95 billion

Market structure

Fragmented

Annual growth (%)

7:30 a.m.

Regional analysis

Europe, North America, APAC, South America and MEA

Successful market contribution

Europe at 42%

Main consumer countries

United States, United Kingdom, China, Germany, Canada and Japan

Competitive landscape

Leading Companies, Competitive Strategies, Consumer Engagement Reach

Profiled Key Companies

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 Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID-19 Impact and Recovery Analysis and Future Consumer Dynamics, Market Status Analysis market for the forecast period

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

About Us
Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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