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Paint Colour Visualisers - Move from Physical to Digital ?
Mar 04, 2022


Paint Colour Visualisers - Move from Physical to Digital ?

Gone are the days of guessing the colour’s look before applying it to the wall. Many companies now offer paint colour visualizer tools. These tools assist in choosing the right colours and aid in foreseeing the paint together with the desired design competently. The advancement in technology in the form of augmented reality backed by artificial intelligence can be seen as a booster in creating these tools fueling growth in the Indian paint industry. The paint industry in India is growing at a CAGR of around 11 % and is forecasted to reach INR 911 Billion by 2025.

The use of these apps can be also seen as the result of increasing displays which are currently estimated at around 150 billion dollars globally and are estimated to reach around 174 billion dollars in 2025 growing at a CAGR of 3.8%.

Furthermore, the use of portable display devices such as mobile phones, tablets, etc. coupled with the reducing data rates have further increased their reach.

Let’s look at some of the biggest players and their growth to fuel your idea of developing such tools to enhance customer experience and thereby increase revenue.

Benjamin Moore (Personal Color Viewer)

Benjamin Moore is a prominent player in this domain. The company was set up in 1883. Later in 2000, this company was acquired by well-known Warren buffet's Berkshire Hathaway. The company possesses a wide network of over 7,500 retailers across North America. The company offers a tool named Personal Color Viewer. If you desire to design a scheme for your room, you do need to register with a password or through Facebook. You can also use sample images already available on their website if you don’t want to upload your image.

Sales and Service Revenue - (Berkshire Hathaway)


$127,044 (2020); $145,043 (2021)                                                                                               [IN MILLON]


$32,703 (Q3 2020); $36,722 (Q3 2021)


Benjamin Moore

Sherwin Williams (Color Snap)

With over 60,000 employees along with 4,430 stores across North and South America, the figures depict the anecdote itself that they are eminent players in the paint segment. This company also deals in highly engineered solutions for the construction, industrial, packaging, and transportation markets in more than 120 countries around the globe. Sherwin Williams offers Color Snap paint visualizer tool. Its easy-to-use drag and drop GUI makes it stand apart from the competition.

Revenue


$17,901 (2019); $18,362 (2020)                                                                                                   [IN MILLON]


$4,489 (Q4 2020); $4,762 (Q4 2021)


Sherwin Williams

Asian Paints (Color Visualiser)

Formed in 1942, the company operates in 15 countries with 25 manufacturing facilities. Their colour visualiser tool offers consumers to experiment with paint online. Consumers can upload pic from their phone and with the help this astounding tool they can select desired shades, wallpapers and textures.

Sales of Products


INR 170.3 (2019-20); INR 182.5 (2020-21)                                                                                   [IN BILLON]


INR 69 (Q3 2019-20); INR 86 (Q3 2020-21)


Asian Paints

Dulux (DULUX Visualizer App)

The company is present in India for over 100 years. There is no ambiguity that Dulux is a cardinal entity in the paint industry. With over 1,800 employees the company has an extensive presence in India backed by its international owner akzo Nobel N.V.

The Dulux visualizer app is imparted with igneous picker technology. The tool offers over 1,200 colours and it is compatible for both phone and tablet. The picker technology enables consumers to pick a colour from anywhere ranging from a cushion or pair of shoes, to the flowers in garden. Augmented reality technology allows consumers to see the colours in their living space. What’s more is that one can order colour testers and products straight at their door.

Sales and Service Revenue


INR 26,299 (2019-20); INR 23,971 (2020-21)                                                                               [IN MILLON]


INR 7,804 (Q3 2020); INR 9,191 (Q3 2021)


Dulux

Let’s look at what market sentiment for Paint Colour Visualisers reveal:


Paint Colour Visualisers

As seen above, 85% positivity in market is bagged by the some of the following drivers:

  • Major players are investing into the creation of paint visualiser tools pertaining to various industries ranging from automobile, residential to commercial.
  • Tools are not only facilitating the end consumers but they are also been used heavily by industry experts such as consultants, artists, architects, interior designers, enhancing their creativity and the transparency with their clients.
  • Visualisation tools are carving their way into many industries such as paint, wood, metal, tiles, textures, furnishing, etc. and enhancing the consumer usability and experience.
  • Backed by artificial intelligence, augmented reality, these apps are improving the consumer engagement rate which can be correlated as a direct increase in the number of downloads.
  • Reducing data costs is making it accessible through various online platforms 15% neutral market sentiment is there pertaining.
  • Lacks on performance ground such as accurate real time space measurements of objects, discrepancies in image processing.
  • Differences in users’ proficiency with image processing software.

RNCOS View on the Industry

Major companies in the paint industry have revolutionized the consumer experience by empowering them with tools such as color visualizer. These tools are aiding companies to increase consumer engagement and at the same time improve their top line growth. We have analyzed that the trend of visualization tools is not limited to paint companies but has penetrated to parallel industries. We at RNCOS foresee that more number of companies will use these tools to give digital experience to consumer at the comfort of their home before going physical.

There are few performance related issues with these tools. However, with rising technological advancements in the industry, we shall sooner overcome these challenges. According to our analysis, the usage of these tools will grow manifold driven by rising mobile and broadband penetration globally. This will provide growth opportunity to software companies and their clients.

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India Paint Industry Outlook
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