Investment Rating - The report does not provide a specific investment rating for the home decoration industry. Core Insights - The home decoration industry focuses on enhancing indoor spaces and improving the quality of life for residents. It encompasses design, construction, and product selection, facing intense market competition. However, new technologies such as digitalization and AI present new opportunities. Consumer demand is increasingly diverse and personalized, driving the industry towards multifunctionality and technological integration. The market size experienced a decline due to the pandemic and real estate impacts but is expected to grow steadily with the development of 5G and AI, ushering in a new phase of smart home integration that enhances quality of life and intelligence levels [4][29][30]. Industry Definition - The home decoration industry is defined as focusing on the design and beautification of indoor spaces, aiming to optimize living environments based on aesthetic needs. It includes various stages such as interior design, renovation construction, and product selection, adhering to specific business models like design consulting and project customization. The industry is evolving towards multifunctionality and technological integration, emphasizing sustainable design practices [5][12]. Industry Classification - The home decoration industry can be classified into three service models: home design, renovation construction, and one-stop integrated services. Home design offers personalized solutions, renovation construction focuses on actual building work, and one-stop services provide a full process from design to construction [7]. Market Characteristics - The home decoration industry is characterized by intense market competition, ongoing technological development, and increasing consumer demand for personalization. The market for home building materials is undergoing a reshuffle, with eco-friendly materials gaining rapid growth opportunities, while the furniture and textile industry faces overcapacity and declining revenues [8][9][10]. Market Size - From 2018 to 2023, the market size of the home decoration industry decreased from 682.57 billion RMB to 561.28 billion RMB, with a compound annual growth rate of -3.84%. It is projected to grow from 648.4 billion RMB to 828.1 billion RMB from 2024 to 2028, with a compound annual growth rate of 6.31% [29][30]. Consumer Trends - There is a notable shift towards younger consumer demographics, with increasing demands for quality and personalized home decoration. The disposable income of residents has risen, leading to higher expectations for living environments. Over 70% of consumers prefer low-carbon home decoration products, and 96.8% prioritize the ambiance of home decoration products [26][27]. Technological Development - The home decoration industry is undergoing significant technological changes, particularly in the renovation process. Digital transformation enhances internal processes and communication efficiency between service providers and consumers. The integration of AI and digital technologies is driving rapid industry growth, with the market entering a stable growth phase in 2023 [10][11]. Policy Overview - Recent government policies aim to stabilize consumption and promote high-quality development in the home decoration industry. Initiatives include supporting personalized customization and flexible production, enhancing digital transformation, and promoting green and intelligent home products [35][39].
雅致生活美学：家居装饰艺术与个性化空间定制 头豹词条报告系列
Tou Bao Yan Jiu Yuan·2024-09-30 11:45