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:
- Panchatatva
- Crystal Craft
- Exelgreen
- CanvasPress
- The Wall Art Company
- Art.com
- MUSE
- Hang My Art
Global Office Decoration Items Market: Research Scope
Global Office Decoration Items Market, by Product Type
- Wall Art
- Sculptures
- Fountains
- Plants
- Others
Global Office Decoration Items Market, by Material
- Wood
- Glass
- Metal
- Others
Global Office Decoration Items Market, by End-use Industry
- 100–1000
- 1000–3000
- 3000–5000
- Above 5000
Global Office Decoration Items Market, by Distribution Channel
- Online
- E-commerce Portal
- Company-owned Portal
- Offline
- Hypermarkets/Supermarkets
- Specialty Stores
- Departmental Stores
Global Office Decoration Items Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- 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.
