New York, June 29, 2022 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global smart furniture market accrued USD 2.84 billion in 2021, and is expected to garner USD 4.27 billion by 2030, portraying a CAGR of 4.6% from 2022 to 2030. The research provides a detailed analysis of current market trends and their impact in the coming years, major segments, top market players, and regional scenario.
Compiling each and every detail about the smart furniture industry in 264 pages, the report aims to help market players avail thorough information. Data presented in 333 tables and 169 figures aims to enhance understanding of the market. These insights and data will empower market players, investors, stakeholders, and startups to take necessary decisions and devise the future course of action.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 2.84 billion |
| Market Size in 2030 | USD 4.27 billion |
| CAGR | 4.6% |
| No. of Pages | 264 |
| Tables | 333 |
| Figures | 169 |
| Segments covered | Product Type, End Use, Distribution Channel, and Region. |
| Drivers | Rise in demand for space-saving furniture from commercial and residential sectors |
| The trend of online shopping | |
| Increase in spending capacity of consumers | |
| Opportunities | Surge in number of smart city initiatives |
| Development of innovative automated furniture products |
The report is a valuable source of information regarding driving forces, restraining factors, and growth opportunities. There is a considerable rise in demand for space-saving furniture from commercial and residential sectors. Moreover, the trend of online shopping is gaining momentum. These factors are estimated to drive the global smart furniture market growth. On the other hand, variations in demand and barriers posed due to import-export regulations restrain the market growth.
Highlighting the untapped opportunities in the smart furniture market, Next Move Strategy Consulting’s Lead Analyst for the Consumer Goods category, stated, “The number of smart city initiatives are growing considerably as governments and private players are launching new projects. In addition, technology firms are joining hands with furniture providers to determine consumer inclination and designing automated furniture products accordingly. These factors present opportunities for the market.”
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The report offers detailed insights and analysis of major segments of the global smart furniture market. The research segments the market based on product type, end use, distribution channel, and region. In terms of product type, the market is further segmented into smart stools & benches, smart table & desks, smart sofas, smart chairs, and smart bed. Based on end use, the market is bifurcated into residential and commercial. On the basis of distribution channel, it is sub-classified into online and offline.
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Based on region, the report sub-segments the global smart furniture market on the basis of North America, Europe, Asia-Pacific, and RoW. According to the report, North America accounted for the highest share in 2021, and is projected to maintain its dominant stake by 2030. This is attributed to rapid investments in home furnishing and decoration activities, rise in construction activities, and changes in lifestyle of people in this region. On the other hand, Asia-Pacific is expected to grow considerably over the forecast period, owing to rise in implementation of designer furniture, surge in spending capacity of individuals, and smart city initiatives.
In order to offer extensive analysis and information, the report provides the analysis of each segment for regions and countries. This will help leading market players in determining the performance of various segments in specific regions and countries. This, consequently, will assist them in achieving the maximum smart furniture market share and expand their businesses.
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The report outlines competitive landscape with extensive analysis of leading players of the global smart furniture market. Leading market players profiled and analyzed in the report are Inter IKEA Systems BV, Steelcase, Inc., Herman Miller, Inc., Seebo Interactive Ltd., StoreBound LLC, Modoola Limited, Milano Smart Living, Hi-Interiors SRL, Sobro, and Sleep Number Corporation. The report also provides an analysis of key strategies such as partnerships, expansions, collaborations, new product developments, and others that are adopted by them.
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About Us:
Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analyzed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top quality research and the obsession of turning data into knowledge by dissecting every bits of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enable them to move beyond time and have competitive edge in the industry.
We have been servicing over 1,000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
