NEW YORK, Nov. 18, 2022 /PRNewswire/ — The online home decor market size is expected to grow by USD 58.99 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 8.92% during the forecast period, according to Technavio. The rise in online spending and smartphone penetration, the increase in demand for multifunctional furniture, and rising popularity of blogs related to interior design are propelling the market growth. However, factors such as strict competition from offline channels, long product replacement cycles, and lack of touch-and-feel element will hammer the market growth. Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format
Online Home Decor Market: Geographic Landscape
By geography, the market has been segmented into Europe, North AmericaAPAC, South Americaand Middle East and Africa. Europe is going to have lucrative growth during the forecast period. About 42% of the market’s overall growth is expected to originate from Europe. The UK and Germany are the key markets for online home decor in Europe. The growth of the market in the region is driven by factors such as the expansion of the urban population base, which is expected to increase the need for residential construction projects. However, market growth in this region will be slower than the growth of the market in APAC.
Learn about the contribution of each region summarized in concise infographics and thorough descriptions. Buy Now to access regional and country-level market information
Online Home Decor Market: Vendor Landscape
The online home decor market is fragmentedwith multiple established players. The vendors are deploying organic and inorganic growth strategies to compete in the market. These players compete on different factors, including quality, price, brand, and variety. The acquisition of new brands will help leading competitors maintain the in the global online home decor market during the forecast period. The practice of sustainability is also followed by major competitors. Market players are focusing on the customization of furniture through consumer interactions, which is a trend in the global online home decor market.
Online Home Decor Market: Market Drivers
The rise in online spending and smartphone penetration is driving market growth. Online shopping has gained popularity owing to the high penetration of the Internet, improved economic growth, and purchase and delivery options with the emergence of m-commerce. Security features for online payments, improved online customer services, free delivery, and customer-friendly designs of shopping websites are also contributing to the growth of the market. Rising online sales are also driving the growth of the global online home decor market. The growing emphasis on mobile commerce is primarily driven by the purchase of new smartphones and the creation of more shopping opportunities.
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Online Home Decor Market: Product Landscape
By product, the market has been segmented into online home furniture, online home furnishings, and other online home decorative products. The online home furniture segment will be a major contributor to market growth during the forecast period. The preference for online shopping is rising worldwide, owing to the growing Internet penetration and the increasing number of smartphone users. Online channels enable manufacturers to expand with their distribution networks by third partners -party e-retailers or creating their own online shopping portals.
Online Home Decor Market: Some Companies Covered
- Amazon.com Inc.
- Ashcomm LLC
- Bed Bath and Beyond Inc.
- Century Furniture LLC
- Chairish Inc.
- Coyuchi Inc.
- D decor Home Fabrics Pvt. Ltd.
- Herman Miller Inc.
- Hoffner Online GmbH & Co. KG
- Inter IKEA Holding BV
- LaZBoy Inc.
- Otto GmbH & Co KG
- Pier 1 Imports Inc.
- The Home Depot Inc.
- Urban Ladder Home Decor Solutions Pvt. Ltd.
- Urban Outfitters Inc.
- Walmart Inc.
- Wayfair Inc.
- Williams Sonoma Inc.
Online Home Decor Market: What our Reports Offer
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data from 2021 to 2026
- Market trends (drivers, opportunities, investment opportunities, threats, challenges, and recommendations)
- Strategic recommendations in key business segments based on the market estimates
- Competitive landscape mapping the key common trends
- Company profiling with financials, detailed strategies, and recent developments
- Supply chain trends mapping the latest technological advancements
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Online Home Decor Market in india Growth, Size, Trends, Analysis Report by Type, Application, Region, and Segment Forecast 2022-2026: Growing demand for eco-friendly home decor items is a key trend. The increasing consciousness of a healthy environment has increased the demand for eco-friendly furniture and other furniture. Moreover, various legal agencies help vendors in developing eco-friendly home furniture.
Online Furniture Market Growth, Size, Trends, Analysis Report by Type, Application, Region, and Segment Forecast 2022-2026: Mobile commerce and network marketing are a trend in the market. Smartphones have become an important part of modern life, which has paved the way for online shopping. Hence, retailers such as Amazon.com, Flipkart, and Alibaba Group have launched mobile applications.
Online Home Decor Market Scope