Each year Pantone, a global corporation that studies the language of color and sets the standards for color among and between industries, releases a color of the year. The selected hue is used to inspire trends in the industries of fashion, beauty and decor throughout the year, and experts and devotees of each of these fields eagerly await the announcement every December. Once the announcement is made it's common to see every product from nail polish to dinner plates manufactured in the shade and sold all over the world.

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The color chosen for 2014 is called "radiant orchid," and it's a fun shade of purple that is somewhere between a pastel and jewel-tone, and almost universally flattering. It's perfect for makeup and clothes, but purple is an undoubtedly bold choice for your home. If you're a fan, but not sure how to incorporate it subtly into your home decor, check out the ideas in our slideshow.

Image via Pantone

Throw Pillows 1

Throw Pillows

Image via decoratedlife.com

Throw pillows can be an affordable and non-committal way to update your home with the latest color trends, and can be utilized in the living room, den, bedrooms and even in outdoor spaces.

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Flowers 2

Flowers

Image via teleflora.com

Any excuses to have fresh flowers in your home, right? Tons of fresh flowers and flowering plants can be purchased in shades similar to Radiant Orchid -- roses, gerber daisies, tulips...you name it. If you're not up for the weekly expense, you can invest in a gorgeous potted orchid that will last for years.

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Frames 3

Frames

Image via Etsy.com

Whether it's a single framed mirror or a gallery wall of gorgeous prints all framed in purple, frames are a unique way to use the color of the year. And of course, easy to switch out if you get tired of the bold hue.

Seating 4

Seating

Image via decor8blog.com

Double up on trends by DIYing some radiant orchid painted stools or dining chairs. It'll provide a great pop of color in an otherwise subdued dining area.

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Art 5

Art

Image via Etsy.com

Even if you can't afford the $300 painting pictured here, you can use art to inject a bit of radiant orchid into your decor. There are scores of prints and painting of all different sizes and prices available online and in stores. And if you're the artsy type you could just whip up a little piece of your own. Wouldn't a watercolor be lovely?

Accent Wall 6

Accent Wall

Image via thisoldhouse.com

A radiant orchid accent wall is perfect for color lovers fond of vibrant home decor, and again, it's something that can be done in almost any room of the hosue. Heck, if you're really a fan of purple, you could paint a whole room!