Growth in Corporate Sector to drive Demand for Office Decoration Items
- Increase in industrialization and urbanization has resulted in the rise in sales of office decorative items across the globe. Office decoration items are made from different materials and are used to make office spaces pleasant and appealing.
- Decorative items include lamps, wallpapers, bonsai, artificial grass, and hanging artifacts. The growing trend of making office spaces more lively and unique will result in growth of the office decorative items market during the forecast period.
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Key Drivers and Restraints of Global Office Decoration Items Market
- Office decoration is important for both employees and customers. Pleasant office spaces have an important part to play in business. People spend nine hours in office and if the work environment is not healthy and refreshing, the performance of employees tends to go down. Comfortable and pleasant environment plays an important role in increasing productivity.
- Well-designed offices create a healthy and workable environment which encourages employees to work efficiently. Many companies decorate the office in a way that it describes the brand and its history.
- The global office decoration items market is driven by increase in commercial spaces, rise in trend of making office space unique, and it has become a necessity and is no more a luxury. Increase in urbanization is likely to boost the growth of the global office decoration items market during the forecast period.
- Companies look at office decoration as fun activity to promote team work. It gives an employer a chance to undertake team activity and to give employees the freedom to decorate their cubical or team space.
- Social media plays an important role in marketing any product or item. Social media platforms have impact on consumers. Many people use social media platforms for business purpose. Large number of local players operate in the office decoration items market who replicate the original work and sell it at cheaper price.
- Manufacturers are creating efficient and ecofriendly products. The glass and metal segments are projected to grow at a rapid pace compared to the wooden segment due to consumer inclination toward preserving trees and environment.
- Considering all the factors, the global office decoration items market is expected to witness substantial growth during the forecast period
Europe to Lead Global Office Decoration Items Market
- Geographically, the global office decoration items market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
- Europe dominated the market in 2018 due to growth in the fashion industry and corporate sector which increased global sales of office decoration items
- However, the market in North America is anticipated to grow at a rapid pace during the forecast period. Increase in number of entrepreneurs having their own office space is a major factor expected to drive the office decoration items market in the region.
- The global office decoration items market is competitive due to the presence of large number of global and regional players. Major players are adopting various strategies such as product portfolio expansion to enhance their position in the market. These companies are focusing on increasing awareness about natural and ecofriendly products. Companies in emerging markets focus on expanding customer base.
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Key Manufacturers Operating in Global Office Decoration Items Market
Leading players operating in the global office decoration items market are:
- Crystal Craft
- The Wall Art Company
- Hang My Art
Global Office Decoration Items Market: Research Scope
Global Office Decoration Items Market, by Product Type
- Wall Art
Global Office Decoration Items Market, by Material
Global Office Decoration Items Market, by End-use Industry
- Above 5000
Global Office Decoration Items Market, by Distribution Channel
- E-commerce Portal
- Company-owned Portal
- Specialty Stores
- Departmental Stores
Global Office Decoration Items Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.