Wall Art Market is expected to witness Incredible Growth during 2023-2031 | Red Bubble, Artfinder, 1000 Museums, Etsy, Society 6

The global wall art market size was US$ 20.4 billion in 2021. The global wall art market size is estimated to reach US$ 33.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.6% during the forecast period from 2022 to 2030.

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Any social setting helps significantly by having wall art because it circulates the art to many other genres at once. The painters obtain a reasonable price from these sponsors. Individuals everyday life where they work and live is directly influenced by wall paintings. With the beginning of globalization, customers can now effortlessly discover and use adorning materials, designs, and concepts. The need for these items is very useful to homeowners, who constantly check for them to maintain their homes attractive.

Factors Influencing Market Growth

The increasing expendable incomes, a rebound in the real estate industry, increasing urbanization rates, and growing awareness levels drive the overall market expansion.
The rising number of new homes is being declared as a result of increasing levels of urbanization propels the overall market growth.
The rise in usage of mass-pricing products by upper-middle-class and lower-middle-class customers significantly drives the overall market.

Effect of the COVID-19 Pandemic

COVID-19 had an adverse impact on the expansion of the overall market. Due to the disturbance in the supply chain, shortage of raw material presence, and regulations on the transit of goods. Also, the shipping and delivery of wall art across the globe have been hindered by uncertainties and disorders at nationwide boundaries.

Regional Insights

North America had the highest market share in 2021. Due to the growth of the building sector in arising economies and it will restart to be the controlling region and have substantial growth in the future. The primary driving forces in this region are the fast alteration of personal lifestyle and experience, as well as the embrace of western civilization and architecture and increasing personal spending. Thus, driving the overall market growth.

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Leading Competitors

The prominent players in the global wall art market are:
Red Bubble
Artfinder
1000 Museums
Etsy, Society 6
Paintru
Wayfair
One Kings Lane
Saatchi Art
Minted
Art.Com
Z Gallerie
Others

Segmentation Analysis

The global wall art market segmentation focuses on Type, Price Point, Sales Channel, and Region.

Segmentation on the basis of Type
Abstract
Modern
Others

Segmentation on the basis of Price Point
Mass
Premium

Segmentation on the basis of Sales Channel
Specialty Stores
E-commerce
Auction Houses
Others

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Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Key questions answered in the global market report are:

-- How does a global company acquire markets?
-- What are its core strategies and policies?
-- What factors will influence the market over the forecast period?
-- What are the factors driving and restraining the market?
-- What are the leading competitors in the global market?
-- Which region is growing at a higher pace in the global market?

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This release was published on openPR.