Christmas Lights and Decorations

Christmas Lights and Decorations Market Outlook

The global Christmas lights and decorations market is projected to reach USD 15 billion by 2035, growing at a CAGR of 6% during the forecast period from 2025 to 2035. The rising trend of outdoor festive decorations and an increase in disposable income among consumers are significant growth factors driving this market. Additionally, the growing popularity of LED lights due to their energy efficiency and longer lifespan is contributing to the burgeoning demand for festive lights and decorations. The shift in consumer preferences towards innovative and unique decorating options for both residential and commercial spaces is also a key element influencing market growth. Furthermore, the rising trend of e-commerce has made it more accessible for consumers to purchase a wide range of Christmas decorations from the comfort of their homes, further propelling market growth.

Growth Factor of the Market

The Christmas lights and decorations market is significantly influenced by various growth factors that enhance its prospects. One of the main factors is the increasing consumer spending on home aesthetics during the holiday season, which has seen steady growth over the years. Additionally, the rise in social media influence encourages individuals to adopt more elaborate and creative decorating styles, which can drive higher sales for decorative items. The introduction of smart Christmas lights that can be controlled via mobile applications adds another layer of consumer appeal, especially among tech-savvy customers. Moreover, the growing trend of festive lighting displays in public areas and commercial establishments is promoting a culture of elaborate decorations, thus driving the demand further. Finally, the ongoing urbanization and the increase in residential construction are also contributing positively, as more households are looking to adorn their living spaces with festive lights and decorations.

Key Highlights of the Market

• The market is expected to reach USD 15 billion by 2035.
• Rising consumer spending on holiday decorations is a primary growth driver.
• LED lights are becoming increasingly popular due to their energy efficiency.
• The trend of internet shopping is enhancing accessibility to a variety of decorative items.
• Innovative smart lighting solutions are attracting tech-savvy consumers.

By Product Type

String Lights:

String lights are one of the most popular types of Christmas decorations and they hold a significant share in the market. These lights are versatile and can be used both indoors and outdoors, providing consumers with multiple usage options. String lights come in various colors, lengths, and designs, allowing for creative configurations that cater to different decorating preferences. The shift towards LED technology in string lights has also enhanced their appeal, as they provide a brighter glow while consuming less electricity compared to traditional incandescent bulbs. Additionally, the ease of installation and the ability to combine multiple strings together make them a go-to choice for consumers looking to create a festive atmosphere.

LED Projectors:

LED projectors have gained popularity in recent years as an innovative option for holiday decorations. They project images, patterns, or animations onto surfaces, creating a stunning visual effect that can transform ordinary spaces into extraordinary festive displays. With advancements in technology, these projectors are now available in a variety of themes and styles, appealing to a broad audience. Furthermore, LED projectors are often energy-efficient, providing a sustainable alternative to traditional decorative lights. Their ease of use, often requiring minimal setup, has made them a favored choice for both residential and commercial applications during the holiday season, particularly for larger displays.

Figurine Lights:

Figurine lights represent a charming segment of the Christmas lights and decorations market. These lights come in various shapes and designs, including popular holiday figures such as Santa Claus, snowmen, and reindeer, making them particularly appealing for families with children. Figurine lights often serve as both decorative elements and light sources, enhancing the festive spirit in homes and public areas alike. As consumers seek out unique and whimsical decorations, the demand for figurine lights continues to rise, especially those that incorporate LED technology for better energy efficiency and durability. Their ability to be used in both outdoor and indoor displays adds to their versatility.

Icicle Lights:

Icicle lights have become a staple in holiday decorating, particularly for outdoor use. These lights mimic the appearance of icicles, creating a fairy-tale-like ambiance that is especially popular in regions that experience winter. They are often hung along rooftops, eaves, railings, and fences, providing a stunning visual effect. Icicle lights come in both traditional incandescent and modern LED options, with LED versions offering a longer lifespan and reduced energy consumption. The versatility in color options and lengths allows consumers to customize their decorating styles, contributing to the sustained popularity of icicle lights in the Christmas lights market.

Net Lights:

Net lights are designed for ease and convenience, making them a preferred choice for those looking to achieve a festive look without the hassle of complex installations. These lights come in a pre-arranged mesh format, allowing users to drape them over bushes, trees, or fences effortlessly. The uniform distribution of lights provides a beautifully uniform light display, enhancing the aesthetic appeal of outdoor decorations. Net lights are typically available in both LED and incandescent varieties, although the trend is leaning more towards energy-efficient LED versions. The growing demand for easy-to-use and visually appealing decorations contributes positively to the net lights segment within the market.

By Application

Residential:

The residential segment represents a significant portion of the Christmas lights and decorations market, as families seek to create a festive atmosphere in their homes during the holiday season. This segment is characterized by a diverse range of products, including string lights, figurine lights, and various decorative elements that transform living spaces. The increasing trend of home decorating, driven by social media and the influence of home improvement shows, has led to a surge in demand for unique and personalized decorations. Moreover, as more households adopt the tradition of outdoor lighting displays, the residential application of Christmas lights continues to expand, thereby fostering market growth.

Commercial:

The commercial application of Christmas lights and decorations is another critical segment that influences overall market dynamics. Businesses, retail stores, and shopping malls invest significantly in festive decorations to attract customers during the holiday season. The use of elaborate and visually appealing lighting displays can create a welcoming atmosphere that encourages customer engagement and increases foot traffic. Companies often opt for customized and technologically advanced solutions, such as LED projectors and smart lighting systems, to enhance their commercial spaces. The competitive nature of retail during the holiday season drives businesses to invest in captivating decorations that boost sales, further propelling the commercial segment of the market.

Public Spaces:

The application of Christmas lights and decorations in public spaces, such as parks, streets, and community centers, has become increasingly prominent in recent years. Municipalities and community organizations often coordinate elaborate displays to foster community spirit and attract visitors during the holiday season. These displays can include large-scale light installations, festive street decorations, and illuminated trees, all aimed at enhancing the festive atmosphere in public areas. The rise of holiday events and festivals in public spaces also contributes to the increasing demand for decorative lights and displays, thus playing a pivotal role in the overall growth of the Christmas lights and decorations market.

By Distribution Channel

Online Retailers:

Online retailers play a crucial role in the distribution of Christmas lights and decorations, providing consumers with easy access to a wide variety of products. The convenience of shopping from home, coupled with the ability to compare prices and read reviews, has made online shopping increasingly popular among consumers. Major e-commerce platforms offer extensive selections of festive lights, catering to diverse preferences and budgets. Additionally, the rise of seasonal promotions and discounts during the holiday shopping season incentivizes consumers to purchase their decorations online. This trend has significantly boosted sales in the online retail segment, making it a dominant channel in the market.

Specialty Stores:

Specialty stores focusing on holiday decorations and seasonal items contribute significantly to the Christmas lights and decorations market. These stores often curate a unique selection of products, catering to customers seeking specialized or high-quality decorations. The personalized shopping experience offered in specialty stores allows customers to receive expert advice and recommendations, enhancing their purchasing decisions. Additionally, many specialty stores create a festive atmosphere that encourages consumers to engage with products, fostering emotional connections to the decorations. This segment continues to thrive as consumers look for distinctive and charming items to celebrate the holiday season.

Department Stores:

Department stores remain a vital distribution channel for Christmas lights and decorations, offering a one-stop shopping experience for consumers. These stores typically feature dedicated holiday sections that showcase a variety of decorative items, including lights, ornaments, and other holiday essentials. The convenience of finding everything needed for festive decorating in one location appeals to consumers, especially during the busy holiday shopping season. Many department stores also leverage seasonal marketing strategies to enhance their product offerings, creating eye-catching displays that attract shoppers. This continued emphasis on creating a festive shopping experience helps sustain the relevance of department stores in the market.

Home Improvement Centers:

Home improvement centers have become increasingly involved in the Christmas lights and decorations market, as many consumers consider home improvement projects during the holiday season. These centers offer a selection of decorative lights and other festive items, appealing to customers who are also interested in home renovation and enhancement. The combination of DIY products with holiday decorations allows customers to create a customized festive environment. Furthermore, home improvement centers often provide seasonal workshops and demonstrations, promoting the use of their products for holiday decorating. This unique positioning adds value to the home improvement center segment and bolsters its contribution to the market.

Supermarkets/Hypermarkets:

Supermarkets and hypermarkets serve as key distribution channels for Christmas lights and decorations, particularly for consumers looking for convenience. These retailers often carry a curated selection of seasonal items, catering to everyday shoppers who may not be specifically seeking decorations but want to enhance their homes for the holidays. The ease of purchasing festive lights alongside grocery shopping increases the likelihood of impulse buys, driving sales during the holiday season. Additionally, the competitive pricing often found in supermarkets and hypermarkets appeals to budget-conscious consumers, further solidifying their importance in the distribution landscape of Christmas decorations.

By Material Type

Plastic:

Plastic is one of the most commonly used materials in the production of Christmas lights and decorations. Due to its versatility, lightweight nature, and cost-effectiveness, plastic is favored for a wide range of decorative items, including string lights and figurines. The use of durable plastic also ensures that products can be used year after year, making them an economical choice for consumers. Moreover, advancements in plastic technology have allowed for the development of weather-resistant options, enabling outdoor usage without the fear of damage. As sustainability becomes a more pressing concern, manufacturers are increasingly looking for eco-friendly plastic solutions to appeal to environmentally conscious consumers.

Glass:

Glass is often used in high-end Christmas decorations, particularly for ornaments and figurines. The elegance and aesthetic appeal of glass items can enhance the overall holiday decor, making them popular choices among consumers looking for premium products. Glass decorations often feature intricate designs and vibrant colors, adding a touch of sophistication to festive displays. Despite being more fragile than other materials, the durability of glass ornaments can be improved with modern manufacturing techniques that enhance their resistance to breakage. The market for glass Christmas decorations continues to thrive due to the demand for unique and beautifully crafted items that elevate holiday celebrations.

Metal:

Metal is increasingly being used in the manufacturing of Christmas decorations, particularly for items such as stars, angels, and other festive figures. The durability and robustness of metal allow for the creation of intricate designs that can withstand the test of time. Moreover, metal decorations often have a contemporary appeal, making them attractive to modern consumers who appreciate a blend of tradition and innovation. The trend toward industrial-style holiday decor has further boosted the market for metal-based decorations, with many consumers looking for unique pieces that reflect their personal style. The longevity and aesthetic appeal of metal decorations contribute to their popularity in the Christmas lights and decorations market.

Fabric:

Fabric-based Christmas decorations have gained traction in recent years due to their versatility, softness, and ability to be easily customized. Fabric is commonly used in items such as wreaths, stockings, and decorative banners, allowing for creative and personalized holiday displays. The warmth and texture of fabric can evoke a sense of coziness that appeals to many consumers, especially during the winter months. Additionally, fabric decorations can be easily stored and reused each year, making them a cost-effective option for festive decorating. As consumers become more interested in unique and handmade decorations, the fabric segment continues to expand in the Christmas market.

Wood:

Wood has emerged as a popular material for Christmas decorations, particularly among consumers looking for rustic and eco-friendly options. Wooden decorations, such as figurines, ornaments, and decorative signs, offer a warm and natural aesthetic that complements traditional holiday themes. The durability of wood allows for the creation of intricate designs, making wooden items not only functional but also artistic. Moreover, as sustainability becomes a key consideration for many consumers, wooden decorations made from responsibly sourced materials are gaining favor. The trend towards handmade wooden decorations has also increased, as artisans and small businesses cater to consumers seeking unique, handcrafted items for their holiday celebrations.

By Region

The Christmas lights and decorations market is experiencing varied growth across different regions, reflecting diverse consumer preferences and cultural practices. North America holds a substantial market share, with an estimated 40% of the global market, driven by the tradition of elaborate holiday decorating in both residential and commercial settings. The growth rate in this region is notable, with a CAGR of around 5.5% expected over the forecast period. The strong demand for innovative products, especially LED lights, and the increasing trend of e-commerce shopping are significant contributors to this growth. Additionally, the influence of social media on decorating trends further propels the market in North America.

Europe also represents a key market for Christmas lights and decorations, accounting for approximately 30% of the global market. The region is known for its rich holiday traditions, and many countries celebrate Christmas with distinct decorative styles. The demand for high-quality glass and metal decorations is particularly pronounced in Europe, where consumers often seek unique and artisanal products. The CAGR for the European market is expected to be about 4.8%, influenced by the growing interest in sustainable and eco-friendly materials. Countries like Germany and the UK are key players in this region, with their consumers showing a strong preference for elaborate festive decorations in both private residences and public spaces.

Opportunities

The Christmas lights and decorations market is poised for significant growth, creating numerous opportunities for manufacturers and retailers. One prominent opportunity lies in the increasing consumer inclination toward sustainability, prompting manufacturers to develop eco-friendly products. Innovations such as solar-powered lights and decorations made from recycled materials can appeal to environmentally conscious consumers, opening up a new customer base. Additionally, the rise of e-commerce platforms presents a substantial opportunity for businesses to expand their reach and cater to a more extensive audience. By investing in online marketing and distribution channels, companies can capitalize on the growing trend of online shopping during the holiday season. Moreover, as consumers seek unique and personalized decorations, businesses can explore niche markets by offering customizable products that cater to specific tastes and preferences.

Furthermore, the continuous advancements in technology provide further opportunities for innovation in the market. The introduction of smart Christmas decorations, which can be controlled through mobile applications or integrated with home automation systems, is an exciting avenue for growth. These products cater to the tech-savvy consumer segment who values convenience and innovation in their holiday decorations. Additionally, the trend of experiential decorating, where consumers seek immersive holiday experiences, provides an opportunity for businesses to create themed decorations and displays that enhance the festive atmosphere in both homes and public spaces. By tapping into these emerging trends and aligning products with consumer preferences, businesses can position themselves for success in the evolving Christmas lights and decorations market.

Threats

Despite the promising growth prospects in the Christmas lights and decorations market, several threats could hinder progress. One significant threat is the increasing competition from low-cost imports, particularly from countries with lower production costs. The influx of inexpensive products can lead to price wars, squeezing profit margins for manufacturers and retailers who prioritize quality and innovation. Moreover, the rapid pace of technological change poses a challenge, as companies must continuously innovate to keep up with consumer preferences. Failure to adapt to these changes can result in a loss of market share to competitors who are more agile and responsive to emerging trends. Additionally, economic uncertainties and fluctuations in consumer spending can impact demand during the holiday season, highlighting the need for businesses to remain vigilant and adaptive in a fluctuating market environment.

Furthermore, safety concerns regarding holiday decorations can pose significant risks for manufacturers. Instances of product recalls due to safety hazards or fire risks can tarnish a brand's reputation and erode consumer trust. As awareness of safety regulations increases, businesses must prioritize compliance and ensure that their products meet industry standards. Additionally, the ongoing impact of global supply chain disruptions can affect inventory levels and delivery times, potentially leading to shortages during peak shopping seasons. Companies must navigate these challenges effectively to maintain reliability and consumer confidence, emphasizing the importance of robust supply chain management and quality control processes in the Christmas lights and decorations market.

Competitor Outlook

• Philips Lighting
• GE Lighting
• Westinghouse Lighting
• Christmas Central
• Balsam Hill
• Kurt Adler
• National Tree Company
• Lightshare
• Northlight Seasonal
• Holiday Time
• Gerson Company
• Kichler Lighting
• Vickerman Company
• Costco Wholesale
• Lowe's Companies, Inc.

The competitive landscape of the Christmas lights and decorations market is characterized by a mix of established players and emerging brands, each vying for market share through innovation and effective marketing strategies. Major companies like Philips Lighting and GE Lighting dominate the market with their extensive product ranges, leveraging their strong brand recognition and distribution networks. These companies invest heavily in research and development to create innovative lighting solutions that meet the ever-evolving preferences of consumers. Additionally, they often emphasize energy-efficient products, aligning with the growing consumer demand for sustainability and eco-friendliness. Their ability to adapt to market trends and consumer behavior positions them favorably in the competitive landscape.

Emerging players and niche brands are also making a mark in the market, often by focusing on unique and customizable products that cater to specific consumer segments. Companies such as Balsam Hill and Christmas Central have carved out a niche by offering premium decorations that emphasize quality and design. The trend towards experiential decorating has allowed these brands to thrive as consumers seek distinctive items that reflect their personal style and enhance their holiday celebrations. Furthermore, the rise of e-commerce has empowered smaller companies to reach wider audiences, challenging traditional retailers to adapt their strategies to maintain competitiveness. As a result, the market is increasingly dynamic, with brands continuously evolving their offerings to capture consumer interest.

As the market continues to grow, companies are likely to engage in strategic partnerships and collaborations to enhance their product offerings and expand their distribution channels. Collaborations with artists and designers can lead to the creation of limited-edition collections that appeal to consumers looking for exclusive products. Moreover, companies that prioritize online presence and digital marketing are likely to gain a competitive edge, as consumers increasingly turn to online platforms for their holiday shopping. Overall, the competitive landscape of the Christmas lights and decorations market is expected to remain vibrant, with ongoing innovation and changing consumer preferences shaping the future of the industry.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Kurt Adler
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Lightshare
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Balsam Hill
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 GE Lighting
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Holiday Time
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Gerson Company
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Costco Wholesale
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Kichler Lighting
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Philips Lighting
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Christmas Central
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Vickerman Company
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Northlight Seasonal
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 National Tree Company
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Westinghouse Lighting
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Lowe's Companies, Inc.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Christmas Lights and Decorations Market, By Application
    • 6.1.1 Residential
    • 6.1.2 Commercial
    • 6.1.3 Public Spaces
  • 6.2 Christmas Lights and Decorations Market, By Product Type
    • 6.2.1 String Lights
    • 6.2.2 LED Projectors
    • 6.2.3 Figurine Lights
    • 6.2.4 Icicle Lights
    • 6.2.5 Net Lights
  • 6.3 Christmas Lights and Decorations Market, By Material Type
    • 6.3.1 Plastic
    • 6.3.2 Glass
    • 6.3.3 Metal
    • 6.3.4 Fabric
    • 6.3.5 Wood
  • 6.4 Christmas Lights and Decorations Market, By Distribution Channel
    • 6.4.1 Online Retailers
    • 6.4.2 Specialty Stores
    • 6.4.3 Department Stores
    • 6.4.4 Home Improvement Centers
    • 6.4.5 Supermarkets/Hypermarkets

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Middle East & Africa - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 Middle East
      • 10.5.1.2 Africa
  • 10.6 Christmas Lights and Decorations Market by Region

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Christmas Lights and Decorations market is categorized based on

By Product Type

• String Lights
• LED Projectors
• Figurine Lights
• Icicle Lights
• Net Lights

By Application

• Residential
• Commercial
• Public Spaces

By Distribution Channel

• Online Retailers
• Specialty Stores
• Department Stores
• Home Improvement Centers
• Supermarkets/Hypermarkets

By Material Type

• Plastic
• Glass
• Metal
• Fabric
• Wood

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Philips Lighting
• GE Lighting
• Westinghouse Lighting
• Christmas Central
• Balsam Hill
• Kurt Adler
• National Tree Company
• Lightshare
• Northlight Seasonal
• Holiday Time
• Gerson Company
• Kichler Lighting
• Vickerman Company
• Costco Wholesale
• Lowe's Companies, Inc.