LONDON--(BUSINESS WIRE)--The wall decor market in the US is expected to post a CAGR of close to 9% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The introduction of premium products due to the improved standard of living will be one of the major drivers in the wall decor market in the US. Modern and designer home decor products including wall decor items encourage people to do home renovations. Various wall decor manufacturers are also leveraging the internet and social media to market their products owing to the higher preference for personalized products. In addition, retailers are expanding their portfolio by introducing specialized products to meet the growing and diverse demand. Therefore, the increasing demand for premium wall decor products is expected to propel market growth in the US during the forecast period.
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As per Technavio, the increased demand for personalized and customized wall decor, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Wall Decor Market in the US: Increased Demand for Personalized and Customized Wall Decor
Retailers are equipping their product assortment with several personalized wall decor products due to rising trend of personalization. Retailers are often able to gain significant margins on products as many customers are willing to pay extra for product personalization. Thus, vendors and retailers offering customized and personalized wall decor items at both macro and micro levels is expected to drive the market in the US.
“The rising trend for interior designing and the increasing residential construction sector are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Wall Decor Market in the US: Segmentation Analysis
This market research report segments the wall decor market in the US by distribution channel (offline and online) and product (wall art, picture frames, wall clock, and other decorative accents).
The wall art segment led the market share in 2018, followed by picture frames, wall clock, and other decorative accents respectively. During the forecast period, the wall art segment is expected to maintain its dominance over the global market. This is due to the increasing inclination of wealthy individuals toward enhancing the aesthetic appeal of their home interiors.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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