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Emerging Trends to Reshape the Home Furnishings Stores Market: Innovation Leap Revolutionizes Home Furnishing Stores Market as a Key Influencer
Home Furnishings Stores
Home Furnishings Stores Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the market size of home furnishings stores has seen significant growth. It is projected to expand from $140.17 billion in 2024 to $147.47 billion in 2025, with a compound annual growth rate (CAGR) of 5.2%. This growth during the historical period is due to various factors such as changes in consumer lifestyles, demographic transitions, confidence in consumers, retailer tactics, and alterations in the global supply chain.
Home Furnishings Stores Market Size Forecast: What's the Projected Valuation by 2029?
Anticipations are high for the home furnishings stores market as it is predicted to witness robust growth in the forthcoming years. The market valuation is projected to reach $181.96 billion by 2029, expanding at a compound annual growth rate (CAGR) of 5.4%. Factors such as the integration into smart homes, increasing urbanization and space optimization, focus on health and wellness, and the inclination towards customization and personalization, alongside retailer strategies are some of the key drivers escalating growth in the projected period. Furthermore, emerging trends like home refurbishment and enhancement, rental and subscription-based models, artisan and handmade products, solutions for outdoor living, and the surge in resale and secondhand market also play a significant role in this growth.
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What Are the Drivers Transforming the Home Furnishings Stores Market?
The surge in fascination with interior design is speculated to boost the expansion of the home furnishings stores market in the future. Interior design encompasses the holistic process of shaping an internal space to cater to and satisfy human demands. Patrons captivated by domestic styles and lifestyle trendsetters are ready to invest more in diverse designer and high-end home furnishings, exhibiting substantial expenditure on home decoration and interior design motifs. For example, in a report by Made in CA, a Canadian web-based magazine, the worldwide interior design market is predicted to exceed a value of $339 billion by 2027. Hence, the escalating interest in interior design is fueling the home furnishings stores market's progression.
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What Trends Will Shape the Home Furnishings Stores Market Through 2029 and Beyond?
The rising popularity of technological advancements is a pivotal trend within the home furnishing stores market. To solidify their market standing, leading players focus on developing cutting-edge technologies. For example, in June 2022, IKEA, a renowned home furnishing company from Sweden, introduced IKEA Kreativ. This AI-enabled venture allows customers to fashion realistic room layouts. IKEA Kreativ is a software that combines spatial computing, machine learning, and 3D mixed reality to assist in room design.
Which Segments in the Home Furnishings Stores Market Offer the Most Profit Potential?
The home furnishings storesmarket covered in this report is segmented -
1) By Product Type: Home Furniture, Home Textile, Wall Décor
2) By Price Point: Mass, Premium
3) By Application: E-Commerce Sales, In-Store Sales
Subsegments:
1) By Home Furniture: Living Room Furniture, Bedroom Furniture, Dining Room Furniture, Office Furniture, Storage Solutions
2) By Home Textile: Bed Linens, Curtains And Drapes, Rugs And Carpets, Towels And Bath Linens, Cushions And Throws
3) By Wall Decor: Paintings And Artwork, Wall Stickers And Decals, Mirrors, Wall Shelves, Clocks
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Which Firms Dominate the Home Furnishings Stores Market by Market Share and Revenue in 2025?
Major companies operating in the home furnishings stores market include Ashley furniture industries Ltd., Duresta Upholestry Ltd., Kimball International, Shaw Industries Group Inc., Inter IKEA Group, Mohawk Industries Inc., Wayfair LLC, Suofeiya Home Collection Co. Ltd., Springs Window Fashions LLC, Hansemm Corporation, Walmart Inc., Macy's Inc., home24 SE, Home Depot Product Authority LLC, Williams-Sonoma Inc., Rooms To Go, Crate & Barrel, Ethan Allen, La-Z-Boy, Pottery Barn, RH, Havertys, Bassett Furniture, Raymour & Flanigan, American Furniture Warehouse, Nebraska Furniture Mart, Bob's Discount Furniture, Jordan's Furniture, Value City Furniture, Mathis Brothers Furniture, Living Spaces, Badcock Home Furniture & More, Leon's Furniture, Dufresne Furniture & Appliances, Bernie & Phyl's Furniture, Kane's Furniture, El Dorado Furniture, Arhaus, Ballard Designs
Which Regions Offer the Highest Growth Potential in the Home Furnishings Stores Market?
North America was the largest region in the home furnishings stores market in 2024. The regions covered in the home furnishings stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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