“Smart Furniture Market: Global Demand Analysis & Opportunity Outlook 2024”
The global smart furniture market is segmented into application such as home and office. Among these segments, office segment is expected to grow at highest CAGR in overall global smart furniture market during the forecast period. Growing utilization of smart furniture in workplaces and rising number of corporate offices across the globe is believed to impetus the growth of the smart furniture over the forecast period.
Global Smart Furniture Market is expected to flourish at a significant CAGR over the forecast period. Further, the global smart furniture market is expected to garner remarkable revenue by the end of 2024. Expanding urban population and increasing disposable income all across the globe is anticipated to drive the growth of the global smart furniture market over the forecast period. Moreover, rising use of smart furniture at office space is expected to intensify the overall market of smart furniture over the forecast period i.e. 2018-2024.
In 2017, North America dominated the overall smart furniture market and is expected to continue its control over the forecast period. Changing lifestyle along with rising disposable income is projected to accelerate the growth of the market in the upcoming years. Asia Pacific smart furniture market is anticipated to witness robust growth during the forecast period. Further, rapid growth of commercial sector is expected to positively impact the growth of the global smart furniture in Asia Pacific.
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Technological Innovation in Smart Furniture
Increasing technological innovation in smart furniture such as charging table and other furniture is expected to positively drive the growth of the global smart furniture market over the upcoming years. Apart from this, incorporation of many technologies such as Bluetooth speakers, wireless smartphone charging, USB hub, induction beverage warmer and other such technologies into single furniture is providing many opportunities for the smart furniture manufacturers to grow and diversify their portfolio. Further, development and utilization of Qi wireless charging technology in the furniture is projected to drive the global smart furniture market in the upcoming years.
Increasing Disposable Income
Rising disposable income of the population is believed to positively impact the growth of the smart furniture over the forecast period. Further, changing lifestyle of the people such as increasing preference for smart furniture is anticipated to intensify the growth of global smart furniture market over the forecast period. However, high cost of smart furniture products is one of the key factors which are expected to limit the growth of global smart furniture market over the forecast period.
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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.
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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