Online Home Decor Market size to grow by USD 52.95 billion, Market Research insights highlight the rise in online spending and smartphone penetration as Key Driver - Technavio
NEW YORK, Aug. 4, 2022 /PRNewswire/ -- According to the research report, the Online Home Decor Market will witness a YOY growth of 7.30% at a CAGR of 9% during the forecast period. The report is segmented by product (online home furniture, online home furnishings, and other online home decorative products) and geography (Europe, North America, APAC, South America, and MEA).
For more insights on YOY and CAGR, Read FREE Sample Report
Global Online Home Decor Market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including:
Geographical Market Analysis
Europe will account for 42% of market growth. The main European markets for online home decor are the UK and Germany. This region's market will grow more quickly than the markets in North America, South America, and MEA combined. The need for residential construction projects is anticipated to rise as the urban population base grows. Over the anticipated timeframe, this will help the European online home decor market flourish.
Furthermore, countries such as the US, UK, China, Germany, Canada, and Japan are expected to emerge as prominent markets for Online Home Decor Market during the forecast period.
Know more about this market's geographical distribution along with the detailed analysis, Download the free sample report.
Key Market Drivers & Challenges
The increase in online spending and the use of smartphones are two major drivers propelling growth in the online home decor market. Due to the widespread usage of Internet services, increased economic growth, and the advancement of purchase and delivery choices brought about by the emergence of m-commerce, online shopping through smart devices has become more and more popular over time.
The industry is expanding as a result of other factors such as free delivery, enhanced online customer care, and user-friendly website designs for online retailers. The global online home decor business is expanding as a result of increasing online sales. Although factors such as strict competition from the offline channel may impede the market growth.
Customize Your Report
Don't miss out on the opportunity to speak to our analyst and know more insights about this market report. Our analysts can also help you customize this report according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.
Do reach out to our analysts for more customized reports as per your requirements. Speak to our Analyst now!
Furniture Market Growth, Size, Trends, Analysis Report by Type, Application, Region, and Segment Forecast 2022-2026: The furniture market share is expected to increase to USD 122.32 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.01%.
Baby Cribs and Cots Market by Product Type, Type, and Geography - Forecast and Analysis 2022-2026: The baby cribs and cots market share is expected to increase by USD 979.24 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.05%.
Browse for Technavio "Consumer Discretionary" Research Reports
Table of Contents
Five Forces Analysis
Market Segmentation by Product
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 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/online-home-decor-market-size-to-grow-by-usd-52-95-billion-market-research-insights-highlight-the-rise-in-online-spending-and-smartphone-penetration-as-key-driver---technavio-301599154.html