Online Home Decor Market | Growth of Commercial Construction Industry to Boost the Market Growth

LONDON–(BUSINESS WIRE)–Oct 9, 2020–

The global online home decor market size is poised to grow by USD 83.32 billion during 2020-2024, progressing at a CAGR of almost 13% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Online Home Decor Market 2020-2024 (Graphic: Business Wire)

The growth of the global real estate and commercial construction industry is one of the key factors driving the growth of the online home decor market. The other significant factor contributing to online home decor sales is the increasing number of renovation and modification projects. Factors such as the growing tech-savvy population, increasing internet penetration, and the growth of the organized online retail sector have encouraged residents to order home furnishing items online. Moreover, the availability of various online home decor vendors, with wide product offerings, is providing customers with a wide range of furniture and furnishings to choose from. As a result, the online home decor market growth should be substantial over the forecast period.

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Report Highlights:

The major online home decor market growth came from the online home furniture segment. The increasing use of digital platforms such as Instagram, Facebook, and LinkedIn has augmented online sales of furniture. Moreover, the integration of AR/VR technologies has enhanced the online shopping experience for customers. Vendors are using these technologies to render a digital version of the customers’ homes, allowing them to view the suitability of various models of furniture virtually. As a result, customers can make appropriate shopping decisions. These factors will positively influence market growth.
Europe was the largest market for online home decor in 2019, and the region will continue to offer maximum growth opportunities to market vendors during the forecast period. The expansion of the urban population, increasing the need for residential construction projects, which will contribute to the online home decor market growth in the region. Moreover, the growing organized online retail sector is contributing to the market growth in the region.
The global online home decor market is fragmented. 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 Décor Solutions Pvt. Ltd. are some of the major market participants. To help clients improve their market position, this online home decor market forecast report provides a detailed analysis of the market leaders.
As the business impact of COVID-19 spreads, the global online home decor market 2020-2024 is expected to have Negative and Inferior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Enhancement of Consumer Experience through Technological Advancements will be a Key Market Trend

The integration of various technologies such as AR/VR by vendors has helped customers in making smart purchase decisions. For instance, IKEA launched a VR application, which allows customers to virtually experience rooms equipped with its home decor and home furnishing products. The application also allows users to input dimensions of rooms and then select items from the company’s catalog before the final purchase. These factors will boost the market growth.

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Online Home Decor Market 2020-2024: Key Highlights

CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist online home decor market growth during the next five years
Estimation of the online home decor market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the online home decor market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of online home decor market vendors

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

Preface
Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

Market ecosystem
Market characteristics
Market segmentation analysis
Value chain analysis

PART 04: MARKET SIZING

Market definition
Market size
Market sizing 2019
Market outlook
Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition

PART 06: MARKET SEGMENTATION BY PRODUCT

Market segmentation by product
Comparison by product
Online home furniture – Market size and forecast 2019-2024
Online home furnishings – Market size and forecast 2019-2024
Other online home decorative products – Market size and forecast 2019-2024
Market opportunity by product

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

Geographic segmentation
Geographic comparison
Europe – Market size and forecast 2019-2024
North America – Market size and forecast 2019-2024
APAC – Market size and forecast 2019-2024
South America – Market size and forecast 2019-2024
MEA – Market size and forecast 2019-2024
Key leading countries
Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
Market drivers
Market challenges

PART 11: MARKET TRENDS

Growing demand for eco-friendly home decor items
Enhancement of consumer experience through technologies
Increasing demand for contractual furniture

PART 12: VENDOR LANDSCAPE

Overview
Landscape disruption
Competitive scenario

PART 13: VENDOR ANALYSIS

Vendors covered
Vendor classification
Market positioning of vendors
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.
Urban Ladder Home Décor Solutions Pvt. Ltd.

PART 14: APPENDIX

Research methodology
List of abbreviations
Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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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KEYWORD:

INDUSTRY KEYWORD: ONLINE RETAIL HOME GOODS RETAIL

SOURCE: Technavio Research

PUB: 10/09/2020 03:30 PM/DISC: 10/09/2020 03:30 PM

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