Modular TV Stands Market Analysis By Growth Rate, Development Factors, Development Factors and Business Outlook 2020 to 2027
Rise in disposable income enhances the purchasing power of the people living in Asia-Pacific countries. People are spending more than before on luxury, comfort, and lifestyle products. Changes in lifestyle and increase in modern home renovation also supports the growth of the modular TV stand market.
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The changes in lifestyle and availability of modern home renovation influence people to have a luxurious looking modular TV stand for enhancing the aesthetic appeal of the home. The usage of smart TV in hospitality industry, offices, and in such other industry increases the demand for the modular TV stand product.
Leading market players are extending their distribution network toward e-commerce platform. Selling through e-commerce platform enables them to serve to large number of customers. The wide range of different brands of modular TV stands on e-commerce platform is propelling the growth of the market. In addition many e-commerce platforms are providing discounts on the branded modular TV stand. For instance, pepperfry, an online furniture and home décor selling retailer is offering discounts from 10 to 50% on Indian brands of modular TV stand such as space wood, Akshay furniture, and Crystal furnitech. It is also providing discounts on some other international brands of modular TV stand of up to 68% such as Eros, Evok and Royaloak among others. Companies are also trying to develop new innovative modular TV stand to the increasing demand for the product.
The key market players profiled in the report include QuanU Furniture Group, Twin-Star International, Redapple, Abbyson Living, Sonorous, Guangming, Furniture of America, Ashley Furniture, Shuangye, Walker Edison Furniture Company, Z-line Designs, HUARI, Dimplex North America Limited, AVF, Dorel Industries, QM,
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Geographically Analysis – North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)
The demand for modular TV stand depends upon the demand for TV. The world wide pandemic occurrence has significantly reduced the frequency of purchase of electrical and electronic products and increased the lead time delivery of goods due to which TV sets are experiencing decline in its demand which in turn decreases the demand for modular TV stand. Moreover, in COVID-19 people are focusing more on purchasing staple food and hygiene products resulting in decline in the demand for lifestyle products.
Key Segments Covered:
• Distribution Channel
Key Benefits of the Report:
○ This study presents the analytical depiction of the global modular TV stands industry along with the current trends and future estimations to determine the imminent investment pockets.
○ The current market is quantitatively analyzed from 2020 to 2027 to highlight the global modular TV stands market growth scenario.
○ The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global modular TV stands market share.
○ Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
○ The report provides a detailed global modular TV stands market analysis based on competitive intensity and how the competition will take shape in the coming years.
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