(MENAFN- PR Newswire)
NEW YORK, Aug. 22, 2024 /PRNewswire/ -- The wall decor market size in Europe is estimated to grow by USD 14.71 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of over
10.43% during the forecast period. Increasing sales of wall decor
is driving market growth,
with a trend towards
increasing adoption of digital printing. However,
price wars due to low product differentiation poses a challenge. Key market players include Amazon Inc., Artemest s.r.l., Bed Bath and Beyond Inc., Carrefour SA, Costco Wholesale Corp., Debenhams Plc, Dunelm Group Plc, Home24 SE, Inter IKEA Holding BV, JUNIQE GmbH, Kingfisher Plc, Maisons du Monde, Matalan Retail Ltd., Next Retail Ltd., Oliver Bonas Ltd., Otto GmbH and Co. KG, The Range, Walmart Inc., Wayfair Inc., and Williams Sonoma Inc..
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Technavio has announced its latest market research report titled wall decor market in Europe 2024-2028
Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report
| Wall Decor Market In Europe Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 10.43% |
| Market growth 2024-2028 |
USD 14712.5 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
8.64 |
| Regional analysis |
Europe |
| Performing market contribution |
Europe at 100% |
| Key countries |
Germany, UK, France, Italy, and Rest of Europe |
| Key companies profiled |
Amazon Inc., Artemest s.r.l., Bed Bath and Beyond Inc., Carrefour SA, Costco Wholesale Corp., Debenhams Plc, Dunelm Group Plc, Home24 SE, Inter IKEA Holding BV, JUNIQE GmbH, Kingfisher Plc, Maisons du Monde, Matalan Retail Ltd., Next Retail Ltd., Oliver Bonas Ltd., Otto GmbH and Co. KG, The Range, Walmart Inc., Wayfair Inc., and Williams Sonoma Inc. |
Market Driver
The European wall decor market is experiencing significant growth due to the adoption of digitalization in the production of wall decor items. Digital printing is a key technology driving this trend, particularly in the wall art segment. This technology allows for the creation of various styles, including ancient and classic art, contemporary art, folk art, impressionism and post-impressionism, modern art, realism, regional art, and romanticism. Two primary methods of digital printing are used: fine art inkjet printing and digital laser exposure onto traditional photographic paper. The former, which has evolved from digital proofing technology, is commonly used in the wall decor industry. Digital printing is applied to various wall decor categories, such as fine art prints, wall sculptures, posters and prints, decorative plaques, decorative signs, wall stickers and murals, and wallpaper. This integration of digital technology is anticipated to boost the demand for wall decor in Europe, contributing to the market's expansion during the forecast period.
Europe's wall decor market is thriving with trends such as smart home technology and art collections. Public places and household sectors are embracing digital printing technology for custom murals and wall arts. Nature-inspired approaches with earthen luxury components like wall-mounted shelves, earthy colors, and decals are popular. Educational institutes opt for digital wallpaper printing and digital displays for interactive learning. Wall decor vendors offer personalized prints, photo collages, and simple designs in neutral colors for a modern look. Recycled materials and foldable desks add sustainability. Handmade pieces, paintings, wall sculptures, and clocks in various designs and patterns are in demand for interior design. Festive times bring unique lighting and interactive displays. Digital alternatives like virtual reality and non-fungible tokens are emerging. Smart technology integrates with wall decor through lighting, shelves, and clocks.
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Market
Challenges
The European wall decor market is highly competitive, with many retailers offering similar products at various price points. This lack of product differentiation poses a significant challenge for shops looking to gain a competitive edge. Pricing is a primary method used to attract customers, but it also leads to reduced profit margins, especially for e-retailers. The market is fragmented, with both global and local players, making it difficult for new entities to compete. Established players must update their brand portfolios regularly and effectively manage production, demand-supply, shipping, and customer retention to remain competitive. Ensuring quality and timely delivery are essential, but these fundamentals can be challenging for start-ups. The intense competition and price wars can significantly impact a company's profitability if expenses are not managed properly. Therefore, the low differentiation of products within the segment is expected to limit the growth of the wall decor market in Europe during the forecast period.
The European wall decor market faces several challenges in 2023. Traditional wall decor items like paintings, wall sculptures, decals, and wallpaper continue to be popular. However, digital alternatives such as virtual reality, digital displays, and non-fungible tokens are gaining traction. Festive times bring a surge in demand for personalized prints, photo collages, and simple designs. Vendors must keep up with interior design trends, home decor fads, and the DIY trend. Recycled materials and sustainable practices are essential for eco-conscious consumers. Smart technology integrations like lighting, interactive displays, shelves, clocks, and frameworks add value. Wall art, mirror works, and handmade pieces remain desirable. E-commerce sales dominate residential construction, while minimalism and social media platforms influence DIY projects. Artisans and sustainable materials are key differentiators.
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Segment Overview
This wall decor market in Europe report extensively covers market segmentation by
Product
1.1 Wall art
1.2 Picture frames
1.3 Wall clocks
1.4 Wall storage/shelves/hanging cabinets
1.5 Others
Distribution Channel
Geography
1.1
Wall art - The European wall decor market is a significant sector, showcasing various trends and offerings. Key players include Ikea, Home Depot, and Kingfisher. Consumers prefer personalized and eco-friendly options. Digital technologies, such as augmented reality apps, enhance the shopping experience. Market growth is driven by increasing disposable income, urbanization, and a focus on home improvement. The market size was valued at €25 billion in 2020 and is projected to expand at a steady pace.
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Research Analysis
The Wall Decor Market in Europe is thriving, with a focus on innovation and style. Smart home technology integration is transforming traditional wall decor into interactive and automated pieces. Art collections, both classic and contemporary, adorn public places and private homes, adding character and personality. Nature-inspired approaches, from wallpaper to sculptures, bring the outdoors in. Wall decor products range from paintings and decals to wallpaper and wall sculptures, catering to various tastes and budgets. Online shopping platforms and wall decor vendors make it easy to browse and purchase designs, with e-commerce sales on the rise. Minimalism and DIY trends continue to influence the market, with social media platforms showcasing inspiring DIY projects and unique creations. Wall art, in all its forms, remains a popular choice for personalizing spaces and expressing individuality.
Market Research Overview
Europe's Wall Decor Market is thriving with innovative trends and diverse offerings. Smart home technology integration is transforming traditional wall decor, allowing for digital displays, interactive wall arts, and even virtual reality experiences. Art collections continue to be a popular choice, with public places and household sectors investing in custom murals and wall sculptures. Nature-inspired approaches are gaining traction, with earthen luxury components, earthy colors, and wall-mounted shelves. Digital printing technology is revolutionizing wallpaper and decal production, enabling personalized prints, photo collages, and even digital art. Educational institutes and high-end showrooms showcase the latest wall decor products, from paintings and wallpaper to foldable desks and handmade pieces. Sustainable materials and minimalist designs are on-trend, with recycled materials, neutral colors, and simple designs dominating the market. Wall decor vendors offer a wide range of designs, patterns, and interior design trends, catering to the DIY trend and social media platforms. Smart technology, lighting, and mirror works are also gaining popularity, with e-commerce sales and residential construction driving growth in the market.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Product
Wall Art
Picture Frames
Wall Clocks
Wall Storage/shelves/hanging Cabinets
Others
Distribution Channel
Geography
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
[email protected]
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SOURCE Technavio
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