A rise in customers expending on interior decor owing to incessantly improving lifestyle and increment in buying power is fueling the window coverings market. Driven by the predominating trends, the spending on improving interior décor would rise. This is likely to generate demand for modern window treatments and different aspects of designing. Rising consumer concern regarding home decoration and UV rays protection will boost sales of window coverings over the assessment period.
Recent technological progressions in innovative designs and hardware of window coverings are boosting their sales. The window coverings market is anticipated to increase at a CAGR of 4% during 2020-2030.
New Developments and Product Innovations
Consumers are keen to see more automated options, in terms of the dominant trend in window treatments. Therefore, motorized blinds and shades and smart window coverings will foresee high demand. With producers presenting more features to enhance the energy efficiency, smart window covering may have an advantage over its contemporaries.
Companies have thus begun offering customization solutions to pull in more customers. They provide unique design, besides following measurements as indicated by consumer’s needs. Humble cotton and wood designs are also prevailing due to the higher demand for natural materials among consumers.
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COVID-19 Impact Analysis
COIVID-19 outbreak keeps on spreading worldwide; there are considerable impacts on product demand, consumer behavior, and logistics services, factory, and retail store accessibility. Retail technology investments would keep on reflecting digital transformation attempts, as retailers reserve capital for technology investments by bringing down expenditure on remodels and store openings.
Key Takeaways of the Market Study
- Window treatments are an affordable option for smartening up home décor. Therefore, pocket-friendly window coverings are striking in the residential sector
- Demand for remote access and automation makes motorized blinds and shades perfect for the commercial sector
- The demand for eco-friendly and sustainable blinds and shades is growing. This will boost development prospects for the market
- Motorized blinds and shades such as automated honeycomb shades to foresee surging demand.
North America will rise on the latest trends of home décor, propelling the region to the front in the global market. Hospitality industry evolution in East Asia is pulling in prominent companies to transfer their focus to the region. Major companies will focus on presenting novel products in Latin America and the Middle East & Africa. The growth of the retail sector is boosting investment in these regions. Moreover, market participants are likely to focus on enhancing their distribution network to capitalize on prevailing growth prospects in Latin America and the MEA
A growing number of companies will focus on increasing their online presence. Through this, they plan to enter all over developing nations. To boost product infiltration, market participants are acquiring regional participants. Additionally, they are focusing on adopting active marketing campaigns and better advertising their products.
Mecho, In 2019, introduced SolarTrac 4.0 to provide a technologically-progressed automated window shading control system. This system is capable of building performance with the help of daylight management and developing maximize occupant.
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