According to a recent report by Future Market Insights (FMI), blind & shades market is expected to surpass a valuation of US$ 13.6 Bn in 2021 and at a CAGR of approximately 4.4% through 2029.
Customer’s increasing surge for personalized control on the management of the light and air, is encouraging manufacturers to launch innovative blind & shades in the market with their increasing focus on fully automated products.
Furthermore, smart-phone enabled operations associated with blind & shades is registering new opportunities for the global market. In addition, development of blinds integrated with the voice recognition technology is transforming the home décor industry trends which in turn is positively influencing growth of global blind and shades market in terms of value.
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For example, IKEA has developed remote-controlled blinds equipped with voice recognition features and a smart lightning kit. These automated shades can also be controlled via smartphones for customized experience and are compatible with AI-enabled virtual assistant, including Alexa, and Google Assistant.
Moreover, in the blinds and shades market, manufacturers have the option of producing eco-friendly blind and shades. In the current market, only a few companies are creating eco-friendly blind and shades, which opens up potential for other businesses to invest in sustainable interior décor items.
Growing consumer knowledge of sustainable or eco-friendly products is expected to influence their purchasing decisions. As a result, the market in developed nations with strong consumer awareness has the potential to grow.
Key Takeaways from the Blind & Shades Market Study
- Blinds and shades made of natural fibers is witnessing a significant growth in the global market. The customer’s awareness for their health and for environment is significantly supporting sales of natural blinds and shades.
- East & South Asia would remain the prominent region in the global blinds & shades market owing to rapid expansion of residential sector. E-commerce expansion will also be pivotal in accelerating the market build-up in this region.
- Smart windows are leaping the sales of blind & shades due to growing innovations such as windows controlled by a click of a button using rechargeable batteries and voice-activated window coverings.
- The U.S. is expected to register a CAGR of 2.2% in North America due to increasing trend of customized blind & shades as well as smartphone controlled blind & shades.
“Adoption of omnichannel sales strategy by manufacturers and growing customer inclination towards natural material-based blinds & shades are expected to offer significant market growth opportunities.” says an FMI analyst.
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Impact of COVID-19 on the Market
The COVID-19 pandemic had a significant influence on the world economy at numerous levels, and this impact was felt to a large extent in the construction industry. The COVID-19 pandemic issue also had an impact on the blind and shade market, which saw a significant drop in demand in 2020.
The COVID-19 outbreak affected the supply and delivery of construction materials, causing governments to enact lockdown. The transfer of activities in operations and vendor operations impacted the manufacturing. The blind and shade production process has become a headache for enterprises due to limited labour availability, disrupted raw material supply, and logistical challenges.
Who is winning?
Leading manufacturers of blind & shades are focused on aggressive promotional strategies and advertisements that have driven sales growth of Blind & Shades globally.
Major players present in the blind & shades market are Ching Feng Home Fashions Co., Ltd., Griesser AG Electrocomponents PLC, Hunter Douglas NV, Lafayette Venetian Blind Inc., Legrand, Lutron Electronics Company, Mechoshade Systems LLC, Nien Made Enterprise Co. Ltd., Persianas Canet S.A, Qmotion Shades, Schenker Storen AG, Solarfective Products Limited, Springs Window Fashions LLC, TOSO CO. LTD. among others.
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