VALLEY COTTAGE, N.Y. – Future Market Insights (FMI) recently published a detailed study on true market potential of blinds & shades, and it expects the market to grow at a CAGR of 4.4% during the forecast period 2019-2029. Growth remains driven by consumer preference for advanced window coverings for their aesthetic appeal and to adjust the intensity of sunlight. Also, continuous technological innovation to enhance the product performance and functionality coupled with rising demand for energy-efficient smart shades for smart homes is fueling growth of the blinds & shades market.
Smart Windows to Influence Product Innovation
The trend of digitalization continues to revolutionize various industries by triggering rapid operations via automated tasks. Impact of digitalization trend is also noticeable in the blinds & shades market, with key players focusing on voice activated window coverings. The rise of smart homes has positively impacted the demand for smart blinds and shades that are controlled by a click of a button using rechargeable batteries. FMI projects that manually operated blinds & shades will continue to account for relatively high revenue share, while demand for automatic variants is set to grow at a CAGR of 5.6% through 2029.
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Perovskite-tinted windows are emerging as a trend in the blinds & shades market, staying clear on cold days and turning dark during hot summer sun, in addition to generating electricity or harvesting power like solar cells. Offering a possible route to smart windows and solar windows at a same time, perovskites are expected to bring notable changes in the marketplace.
Roman Shades/Blinds Take the Lead, Venetian Blinds Garner Traction
In terms of volume, consumer-favorite and cost-effective Venetian blinds are expected to remain the most profit-generating product in the blinds & shades market. Although the Venetian shades are generating maximum revenue and will continue to do so, demand for Roman shades/blinds are expected to pick pace and register a CAGR of 4.3% over the forecast period. Increasing consumers’ preference for Venetian blinds to break the monotonous interior design and for their highly adjustable feature will continue to influence the market growth.
Preview of 2019 Analysis and Review of Blinds & Shades Market by Product – Roller Shades, Vertical Shades/Blinds, Panel Blinds, Roman Shades/Blinds, Venetian Blinds, Venetian Blinds, and Pleated Shades for 2019 – 2029:https://www.futuremarketinsights.com/reports/blinds-and-shades-market
East Asia Promises Lucrative Opportunities for New Manufacturers
As of 2019, East Asia’s blinds & shades market is estimated to account for a revenue share of 27%. In order to strengthen their position in the market, manufacturers are keen to enter the rapidly evolving region. Owing to growing preference for premium products and steady adoption of household appliances, the market in East Asia is expected to grow on a significant pace. Robust growth of the construction industry in South Asia and Europe are also expected to complement the market growth over the next decade.
“Significant growth of the e-commerce industry has led to realignment of manufacturers’ strategies. While a large number of customers are still dependent on brick and mortar stores, key players are channelizing growth prospects of the blinds & shades market through online sales,” says FMI analyst.
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