Dublin, March 24, 2022 (GLOBE NEWSWIRE) -- The "Smart Furniture Market by Product Type, by End Use, and by Distribution Channel - Global Opportunity Analysis and Industry Forecast 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The Smart Furniture Market size was valued at USD 2.84 billion in 2021 and is predicted to reach USD 4.27 billion by 2030 with a CAGR of 4.6% from 2022-2030.
Smart furniture is nothing but the normal furniture such as chairs, desks, tables, and more in contemporary designs for offices and homes, which is equipped with an intelligent system or is controller operated. This furniture is designed for meeting the needs of modern-day lifestyles and is far more advanced. The number of furniture companies is integrating smart technologies to improve their products and make them consumer-centric as well as more attractive & comfortable
Market Dynamics and Trends:
The commercial sector is witnessing rapid demand for smart furniture, including smart office work station, director's chairs, sleek chairs, smart office sofa, smart conference tables, and advanced designed cabinets, which is one of the primary factors expected to drive the growth of the smart furniture market. Furthermore, rise in demand for space saving furniture and proliferation of online shopping fuel the growth of the smart furniture market. In addition, increase in disposable income of consumers creates demand for smart furniture products.
However, fluctuation in demand for furniture along with the import and export restrictions and sudden disruption in the supply chain during the COVID-19 pandemic has hampered the growth of the market to some extent. On the other hand, ongoing trend of smart city initiatives and surge in introduction of innovative smart furniture products by market players are anticipated to provide lucrative growth opportunities for the market.
Market Segmentations and Scope of the Study:
The global smart furniture market is segmented on the basis of product type, end use, distribution channel, and region. On the basis of product type, the market is segmented into smart table & desks, smart stools & benches, smart sofas, smart chairs, and smart bed. As per end use, the market is categorized into residential and commercial. By distribution channel, it is bifurcated into online and offline. The geography breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and ROW.
Geographical Analysis
North America holds the lion share of smart furniture market during the forecast period. This is attributed to factors such as the rapidly increasing investment in home decoration and home furniture's in this region. Moreover, rising focus on the development of residential constructions and changes in the lifestyle are expected to drive the furniture market growth in this region.
However, Asia Pacific is expected to show a steady rise in the smart furniture market due to increasing usage of designer furniture's embedded with new textures along with high spending capacity and growth in real estate sectors will boost the market in this region.
Competitive Analysis
The smart furniture market players comprising of various market players such as Inter IKEA Systems BV, Herman Miller, Inc., Steelcase Inc., StoreBound LLC, Seebo Interactive Ltd., Milano Smart Living, Modoola Limited, Sobro, Hi-Interiors SRL, and Sleep Number Corporation.
The global smart furniture industry key market players adopt various strategies such as product launch, product development, partnership, collaboration, and agreements to influence the market growth. For instance, in October 2020, Herman Miller expanded the gaming series with the launch of the Special Gaming Edition Sayl Chair, is designed for ultimate performance and optimum comfort with six new expressive color options attracting gamers to play in style atmosphere.
Key Topics Covered:
1. Introduction
1.1. Report Description
1.2. Who Should Read this Report?
1.3. Key Market Segments
1.4. Research Methodology
2. Smart Furniture Market - Executive Summary
2.1. Market Snapshot, 2021 - 2030, Million Usd
3. Market Overview
3.1. Market Definition and Scope
3.2. Market Dynamics
4. Covid-19 Analysis
4.1. Impact on Market Size
4.2. Key Player Strategies to Tackle Covid-19's Influence on the Market
5. Market Share Analysis
5.1. Market Share Analysis of Top Smart Furniture Providers, 2021
6. Global Smart Furniture Market, by Product Type
6.1. Overview
6.2. Smart Tables & Desks
6.3. Smart Stools & Benches
6.4. Smart Chairs
6.5. Smart Bed
7. Global Smart Furniture Market, by End Use
7.1. Overview
7.2. Residential
7.3. Commercial
8. Global Smart Furniture Market, by Distribution Channel
8.1. Overview
8.2. Online
8.3. Offline
9. Global Smart Furniture Market, by Region
9.1. Overview
9.2. North America
9.3. Europe
9.4. Asia-Pacific
9.5. Rest of the World
10. Company Profiles
10.1. Inter Ikea Group
10.2. Sobro
10.3. Steelcase Inc.
10.5. Herman Miller Inc.
10.6. Hi-Interiors Srl
10.7. Krost Office Products
10.8. Milano Smart Living
10.9. Modoola Limited
10.10. Sleep Number Corporation
10.11. Wayfair Inc.
For more information about this report visit https://www.researchandmarkets.com/r/toau5w
