![]() ![]() The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.Home furnishings specialty chain Z Gallerie filed for bankruptcy yesterday-its second time to do so since 2009. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report analyzes these key players in the global wall art market. Region wise, North America was the highest revenue contributor, accounting for $7,895.3 million in 2021, and is estimated to reach $12,621.8 million by 2031, with a CAGR of 5.0%. The major players analyzed for global wall art industry are Etsy, Society 6, Saatchi art, 1000 Museums, Paintru, Artfinder, Redbubble, Schoolhouse, Urban Outfitters, Rifle Paperco, One Kings Lane, Big Wall Decor, Wayfair, Z Gallerie, and Art.com.īy type, the abstract segment was the highest revenue contributor to the market, with $9,798.2 million in 2021, and is estimated to reach $16,480.3 million by 2031, with a CAGR of 5.5%.ĭepending on price point, the mass segment was the highest revenue contributor to the market, with $12,294.9 million in 2021, and is estimated to reach $20,385.1 million by 2031, with a CAGR of 5.4%.Īs per sales channel, the specialty stores segment was the highest revenue contributor to the market, with $9,845.1 million in 2021, and is estimated to reach $16,401.8 million by 2031, with a CAGR of 5.4%. #Zgallery sales free#Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business Due to the growing numbers of millennials and generation X, the effective marketing strategies are also very common in the nation. The manufacturers are also increasing their social media presence in an effort to increase customer awareness of new product introductions and drive sales. The majority of Americans have acknowledged that they get more of their decorating ideas from publications, the houses of their friends and family, television shops, etc. One of the reasons affecting the sales of wall art is the expanding social media. is anticipated to expand at the greatest CAGR because of its fast-developing infrastructure and alterations in consumer behavior brought on by an increase in disposable income. Sales in this area are further boosted by a well-developed retail infrastructure and celebrity brand endorsements. ![]() ![]() The increase in consumer spending on high-end home design and décor items and the rise in living standards are driving the growth of wall art market in North America region. Another element boosting demand for wall art is GDP growth in developed nations.Īccording to the estimate for the global market for wall art, North America held the largest share of the market in 2021 and is expected to keep doing so in the near future. Additionally, the real estate market in developed nations like the U.S., Germany, the UK, and France, among others, has seen a considerable uptick in recent years, which is fueling demand for home lifestyle items like wall art. ![]() The changing tastes and preferences of customers as well as their changing lifestyles are contributing to this rise in demand for wall art. High-paying customers rarely give such purchases for their homes much thought. #Zgallery sales driver#On the other hand, growing adoption of smartphones and internet portals, together with the prevalence of better sales channels, would further contribute by producing enormous chances that will led to the rise of the wall art market during the forecast period.Īccording to a new report published by Allied Market Research, titled, “Wall Art Market," The wall art market size was valued at $20.40 billion in 2021, and is estimated to reach $34.77 billion by 2031, growing at a CAGR of 5.6% from 2022 to 2031.Īnother major driver of the demand for wall art is rising consumer disposable income. PORTLAND, OREGON, UNITED STATES, Octo/ / - According to CXOs of leading companies, rising interest in giving homes and offices an aesthetic look, increasing demand for wall art from the construction industry to provide furnished and ready-to-live homes, increasing applications of décor in spas, salons, restaurants, and other establishments, rising preferences for the use of customized decorative products, and increasing demand for specific design of decoration are some of the significant and essential factors that will likely accelerate the growth of the wall art market. ![]()
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