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Wall Décor Market Size, Analysis, Trends, Opportunities 2024-2033
Wall Décor Market Size
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According to The Business Research Company's, The wall décor market size has grown strongly in recent years. It will grow from $57.43 billion in 2023 to $61.15 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to urbanization and housing construction, consumer preferences and aesthetics, economic conditions, art and culture.
The wall décor market size is expected to see strong growth in the next few years. It will grow to $79.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to increasing demand for e-commerce and online retail, growing demand for sustainability and eco-friendly designs , health and wellness considerations, hospitality and commercial spaces, shift to remote work. Major trends in the forecast period include sustainable and eco-friendly designs, digital art and prints, mixed media and texture ,gallery walls and asymmetrical arrangements, artisan and handmade products..
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Market Drivers and Trends:
The increasing inclination toward creating an aesthetic look in households and offices is expected to propel the growth of the wall decor market going forward. Aesthetic refers to enhancing the look of things or objects in an artful way that creates pleasant and positive value for the object. People are more focused on interior design to create an aesthetic look for households and offices that helps in adding functionality to places. Wall decor gives an aesthetic look to the house and office walls with their paintings and designs. For instance, in May 2021, according to the Home Decor Survey carried by Sullivans in the United States, a US-based company operating in home décor, approximately 76% of people plan to buy the same or more amount of home décor as compared to the last year, and also, 24% of the consumers are expected to buy new décor than purchased previously. Therefore, the increasing inclination toward creating the aesthetic look of households and offices is driving the growth of the wall decor market.
Major companies operating in the wall décor market are incorporating artificial intelligence (AI) into their product to gain a competitive edge in the market. Incorporating artificial intelligence in wall decor involves integrating AI-powered elements to better understand the interior design. For instance, in July 2023, DecoSynth, a US-based technology company launched a platform for personalized wall decor. This service employs AI to generate images based on user descriptions, offers easy customization, and provides a diverse array of printing options, including paper, canvas, acrylic, and metal plates. Users pay only for the prints they choose, making it a cost-effective solution.
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Major Key Players of the Market:
Bed Bath & Beyond Inc., The Home Depot Inc., Inter IKEA Systems B.V., Lowe's Companies Inc, Target Corporation, Wal-Mart Stores Inc., Art.co Inc., Brewster Home Fashion, Benjamin Moore & Co, York Wallcoverings Inc., F. Schumacher & Co., Crossville Inc., J. Josephson Inc., Wallquest Inc., The Sherwin-Williams Company, Koroseal Wall Protection, Len-Tex Corporation, Society6 Inc., Saatchi Art Inc., Art authority llc., Paintru Inc., Art Discovery Limited, Redbubble Limited, Schoolhouse Electric & Supply Co., Urban Outfitters Inc., Rifle Paper Co., One Kings Lane Inc., Big Wall Decor, Wayfair Inc., Z Gallerie LLC
Wall Décor Market 2024 Key Insights:
• The wall décor market size is expected to see strong growth in the next few years. It will grow to $79.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Surge In Aesthetic Wall Décor Demand Fuels Market Growth
• Integration Of Ai In Wall Décor Market
• North America was the largest region in the wall decor market share in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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