The Wall Decor Market in US is being driven by Improved standard of living increasing introduction of premium products
The Wall Decor Market in US is expected to grow at a CAGR of 8.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 12624.4 million. The US economy's robust growth over the past five years, evidenced by a rising GDP, has significantly impacted the home improvement and decor sector. Notably, there has been a surge in demand for designer wall decor, including wall art, wall clocks, and picture frames. This trend is being capitalized on by interior designers and design companies, who see great potential in contemporary styles and modern designs. Furthermore, increased media penetration and awareness of regional artistry have fueled homeowners' interest in interior design, making designer wall decor a lucrative market with ample growth potential.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Wall art, Picture frames, Wall clock, Others) Application (Residential, Commercial) Distribution Channel (Offline, Online) Geography (North America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Wall Decor Market in US Research Report
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The Wallpaper industry in the US is experiencing a revival, with construction projects, particularly in private sector, driving demand. Innovations in printing technologies like Inkjet and Sublimation are transforming the industry. Ceramic wall tiles, designer tiles, marble tiles, and wall art are popular choices for wall decor. Interactive experiences, customer engagement, and smart home technology are trends shaping the market. Intelligent art pieces with voice commands, specific themes, creative partnerships, art's therapeutic benefits, nature motifs, calming color palettes, positive affirmations, storytelling elements, and emotional engagement are key elements. Transitioning lifestyle preferences are also influencing the market.
The Wallpaper and Decor market in the US is a significant segment of the larger home furnishings industry. This market encompasses businesses involved in the manufacturing and marketing of wallpaper, inkjet printing, sublimation printing, ceramic wall tiles, and designer tiles. According to Technavio's market analysis, the global home furnishings market is projected to grow due to several key factors. Primarily, the expansion of residential and commercial construction sectors is anticipated to boost sales of new furniture and decorative products. Additionally, the rising trend of home renovation projects in major economies, including the US, China, and India, is contributing to the increasing demand for these decorative items.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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