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Indoor and Outdoor Bean Bags Market – Digital and Social Media Marketing to Boost Growth | Technavio

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LONDON–(BUSINESS WIRE)–The latest market research report by Technavio
on the global
indoor and outdoor bean bags market
predicts a CAGR of
around 5% during the period 2018-2022.

The report segments the global indoor and outdoor bean bags market based
on price (mass, masstige, and premium), distribution channel (offline
distribution channel and online distribution channel), end-user
(residential and others), and by geography (the Americas, EMEA, and
APAC). It provides a detailed illustration of the major factors
influencing the market, including drivers, opportunities, trends, and
industry-specific challenges.

Here are some key findings of the global indoor and outdoor bean bags
market, according to Technavio
consumer
and retail
researchers:

  • Growth in the housing and real estate industry: a major market driver
  • Digital and social media marketing: emerging market trend
  • EMEA was the leading region in the global indoor and outdoor bean bags
    market in 2017

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Growth in the housing and real estate industry: a major market driver

The growth in housing and real estate industry is one of the major
factors driving the global indoor
and outdoor bean bags
market. The development of commercial
complexes, office spaces, and residential buildings has increased the
demand for bean bags. The housing and real estate industry is influenced
by technological progress and demographic shifts that include growing
urbanization and differentiated lifestyle of citizens across different
countries. The increase in purchasing power of consumers has also driven
investment in furniture for residential and commercial use. A
significant investment in the global real estate industry over the past
decade serves as a catalyst for the growth of the industry.

According to a senior analyst at Technavio for research on retail
goods and services
, “The real estate industry is anticipating
an exponential growth in the coming years. This trend is not only
limited to developed regions such as the Americas and Europe but also to
developing economies such as India and China. Public-private
partnerships have been a key growth driver of the real estate industry.
The real estate industry proves to be a supplementary factor for the
market in focus.”

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Digital and social media marketing: emerging market trend

Digital and social media marketing are the most vital and cost-effective
marketing tools for players to gain product visibility and penetration.
Some popular social media websites include Instagram, Facebook, and
Twitter. The vendors of bean bags advertise and promote their products
on these social media platforms to increase the visibility of their
products among target customers. Social media has aided to connect
several potential customers with their brands. Furthermore, the large
number of Internet and smartphone users has increased the use of social
media and digital platforms. To compete with the stiff competition in
the market, the market players need to develop their marketing and
promotion skills through social media sites and blogs.

Global market opportunities

In terms of regional dominance, EMEA was the leading region in the
global indoor
and outdoor bean bags
market in 2017, accounting for more than
40% of the market share. The indoor and outdoor bean bags market in EMEA
is known for its unique designs, styles, and quality. The Americas stood
at the second position, and this region is expected to remain the second
largest contributor to market share throughout the forecast period.

About Technavio

Technaviois a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at media@technavio.com.

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