“Smart Furniture Market: Global Demand Analysis & Opportunity Outlook 2024”
The global smart furniture market is segmented into application such as office and home. Among these segments, office segment is expected to occupy the top position in smart furniture market. Increasing utilization of smart furniture in workplace to track the well-being of the employees is anticipated to foster the growth of office smart furniture market. Further, increasing number of corporate offices across the globe is expected to foster the growth of office smart furniture segment during the forecast period.
Global smart furniture market is expected to flourish at a significant CAGR over the forecast period. Moreover, the global smart furniture market is expected to garner noteworthy revenue by the end of 2024. Rising disposable income coupled with changing lifestyle and increasing use of smart furniture at office space are believed to the dynamic factors behind the growth of smart furniture market during the forecast period.
North America dominated the overall smart furniture market in 2016 due to the high disposable income. Further, North America is expected to continue its dominance over the forecast period. Asia Pacific is forecasted to grow at a remarkable CAGR during the forecast period. Additionally, rapid growth of commercial sector in the region is likely to accelerate the growth of the Asia Pacific smart furniture market during the forecast period.
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Innovations and technological development of smart furniture such as charging table and other furniture are fuelling the growth of smart furniture market. For instance, development and utilization of Qi wireless charging technology in the furniture is increasing the demand for smart furniture. Further, incorporation of many technologies such as bluetooth speakers, wireless smartphone charging, USB hub, induction beverage warmer and other such technologies into single furniture is expected to strengthen the growth of smart furniture market.
Rising Disposable Income
Rising disposable income of the population is predicted to impel the growth of the global smart furniture market. Moreover, changing lifestyle of the people such as increasing preference for modular furniture is expected to boost the growth of smart furniture market in the upcoming years. Although, high cost of smart furniture products is envisioned to dampen the growth of the Global Smart Furniture Market.
The report titled “Smart Furniture Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global smart furniture market in terms of market segmentation by product, by application and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global smart furniture market which includes company profiling of Ikea Systems B.V., Milano Smart Living, Carlo Ratti, Modoola Ltd., Stich Wood, Fonesalesman, Herman Miller Inc., Tabula Sense and Qinside. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart furniture market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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