According to a new report published by Allied Market Research, “Wall Art Market”, the art painting market was valued at $20.40 billion in 2021 and is estimated to reach $34.77 billion by 2031, with a CAGR of 5.6% from 2022. to 2031.Request a free sample report @https://www.alliedmarketresearch.com/request-sample/17281
The market for wall art is expanding rapidly, even in emerging economies where home accessories and other related goods are making huge market inroads. Due to the expansion of the real estate sector in major cities and the shift from traditional to urban life, the impact of this aspect on the wall art market is expected to increase during the forecast period. In order to make their homes more attractive and comfortable to live in, consumers in developing economies are learning how to restore and remodel them with the help of home décor. Hence, the mural market is expanding all over the world.
Another major driver of demand for wall art is rising consumer disposable income. High-paying clients rarely think about such purchases for their homes much. The changing tastes and preferences of customers as well as their changing lifestyles contribute to the demand for wall art. In addition, the real estate market in developed countries such as the United States, Germany, the United Kingdom, and France, among others, has been on the rise in recent years, which has led to an increase in demand for home lifestyle items such as wall art. Another element boosting the demand for wall art is the growth of GDP in developed countries.
According to CXOs of leading companies, the growing interest in giving homes and offices an aesthetic appearance, the increasing demand for wall panels from the construction industry to provide furnished, ready-to-live homes, the increase in decorative applications in spas, salons, restaurants, and other establishments, the growing preferences for the use of customized decorative products, and the increase in Demand for a particular decoration design are some of the important and fundamental factors that are likely to accelerate the growth of the Wall Art market. On the other hand, the increasing adoption of smartphones and internet portals, along with the proliferation of better sales channels would further contribute by producing massive opportunities that will drive the wall art market up during the forecast period.
As per the estimates of the global wall art market, North America held the largest share of the market in 2021 and is expected to continue to do so in the near future. Increased consumer spending on high-end home design and décor items and rising living standards are driving the growth of the wall art market in the North American region. Sales in this area are boosted by well-developed retail infrastructure and renowned brand endorsements. In addition, the United States is expected to expand at the highest CAGR due to its rapidly developing infrastructure and adjustments in consumer behavior resulting from increased disposable income.
One of the reasons affecting sales of wall art is the expansion of social media. The majority of Americans have stated that they get more of their decorating ideas from publications, their friends and family’s homes, TV stores, etc. Manufacturers are also increasing their social media presence in an effort to increase customer awareness by introducing new products and increasing sales. Due to the increasing numbers of millennials and generation X, effective marketing strategies are also very common in the country.
Schedule a free consultation call with our analysts / industry experts to find a solution for your business @ https://www.alliedmarketresearch.com/connect-to-analyst/17281
The major players analyzed in the global mural 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, Art .com.
The main results of the study
By type, the naked segment was the largest revenue contributor to the market, reaching $9,798.2 million in 2021 and estimated to reach $16,480.3 million by 2031, at a CAGR of 5.5%.
Depending on the price point, the comprehensive segment was the largest revenue contributor in the market, reaching $12,294.9 million in 2021, and is estimated to reach $20,385.1 million by 2031, at a compound annual growth rate of 5.4%.
According to the sales channel, the specialty stores segment was the largest revenue contributor in the market, reaching $9,845.1 million in 2021 and is expected to reach $16,401.8 million by 2031, at a CAGR of 5.4% .
In terms of region, North America was the largest contributor to revenue, reaching $7,895.3 million in 2021, and is estimated to reach $12,621.8 million by 2031, at a compound annual growth rate of 5.0%.
Major players in the market
1000 Museums, .com
Urban Outfitters, Inc.
Gun Paper Company
One Kings Lynn
Great wall decor
Z Galleries Company
The report analyzes these major players in the global Wall Painting market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures to enhance market penetration and strengthen their position in the industry. The report assists the target audience in determining the performance of the market, the performance of each segment, the development of the product portfolio in the market, and the contributions each player is making to expand the market.
Sustainable Home Decor Market: https://www.alliedmarketresearch.com/sustainable-home-decor-market-A16902
American Sanitary Ware Market: https://www.alliedmarketresearch.com/us-sanitary-ware-market
Fog Free Mirrors Market: https://www.alliedmarketresearch.com/fogless-mirrors-market-A06031
North America and Europe Home Decor and Accessories Market: https://www.alliedmarketresearch.com/north-america-and-europe-home-decor-and-accessories-market-A15880
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Free Calling):
United Kingdom: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1 (855) 550-5975
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Allied Market Research (AMR) is a full service market research and business advisory subsidiary of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global organizations as well as medium and small businesses with unparalleled quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view of providing business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their market area.
This version is posted on openPR.