The global smart furniture market size is anticipated to reach USD 365.5 million by 2028, according to a new report by the publisher. The market is expected to expand at a CAGR of 12.4% from 2021 to 2028. Lifestyle of consumers, especially in urban areas, is changing significantly due to increased disposable income. Luxurious and technically integrated product is becoming an essential part of their life; which is easing out the lives of professionals and workaholics. This would contribute to driving the industry in the coming years. In addition, increasing disposable income of individuals has led to thinking regarding the social status, driving the increased spending on products including furniture.
The smart desks segment accounted for the largest revenue share of 34.8% in 2020. Vigorous growth in commercial and office building construction and remodeling activity is anticipated to buoy demand as companies furnish new office spaces. While replacement activity historically played a minor role in supporting demand - largely the result of product durability and lack of innovation - trends towards more open, collaboration-oriented workspace design will drive an increase in replacements.
In commercial building and office construction, the furniture will be needed to outfit these new workspaces. A forecast increase in office improvement activity will further support gains as companies remodel work areas to include modern design features, such as open floor plans and collaborative work areas. However, the market for used furniture will continue to appeal to budget-conscious office purchasers.
Asia Pacific is expected to witness a lucrative CAGR of 15.2% from 2021 to 2028 due to rapid developments in the residential real estate industry in Asian countries such as India and China, which in turn opens up notable opportunities for the sector during the forecast period.
The smart desks segment accounted for the largest revenue share of 34.8% in 2020. Vigorous growth in commercial and office building construction and remodeling activity is anticipated to buoy demand as companies furnish new office spaces. While replacement activity historically played a minor role in supporting demand - largely the result of product durability and lack of innovation - trends towards more open, collaboration-oriented workspace design will drive an increase in replacements.
In commercial building and office construction, the furniture will be needed to outfit these new workspaces. A forecast increase in office improvement activity will further support gains as companies remodel work areas to include modern design features, such as open floor plans and collaborative work areas. However, the market for used furniture will continue to appeal to budget-conscious office purchasers.
Asia Pacific is expected to witness a lucrative CAGR of 15.2% from 2021 to 2028 due to rapid developments in the residential real estate industry in Asian countries such as India and China, which in turn opens up notable opportunities for the sector during the forecast period.
Smart Furniture Market Report Highlights
- The market size was valued at USD 143.6 million in 2020 and is anticipated to witness a CAGR of 12.4% from 2021 to 2028
- The smart desks segment accounted for the largest revenue share of 34.8% in 2020
- Asia Pacific is expected to witness a lucrative CAGR of 15.2% from 2021 to 2028
Table of Contents
Chapter 1. Methodology and Scope1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Outlook
2.3. Product Outlook
2.4. Regional Outlook
Chapter 3. Smart Furniture Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter’s
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Smart Furniture Market
3.7. Market Entry Strategies
3.8. Impact of COVID-19 on the Smart Furniture Market
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Smart Furniture Market: Application Estimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2020 & 2028
5.2. Residential
5.2.1. Market estimates and forecast, 2016 - 2028 (USD Million)
5.3. Application
5.3.1. Market estimates and forecast, 2016 - 2028 (USD Million)
Chapter 6. Smart Furniture Market: Product Estimates & Trend Analysis
6.1. Product Movement Analysis & Market Share, 2020 & 2028
6.2. Smart Table
6.2.1. Market estimates and forecast, 2016 - 2028 (USD Million)
6.3. Smart Desks
6.3.1. Market estimates and forecast, 2016 - 2028 (USD Million)
6.4. Smart Chairs
6.4.1. Market estimates and forecast, 2016 - 2028 (USD Million)
6.5. Others
6.5.1. Market estimates and forecast, 2016 - 2028 (USD Million)
Chapter 7. Smart Furniture Market: Region Estimates & Trend Analysis
7.1. Region Movement Analysis & Market Share, 2020 & 2028
7.2. North America
7.2.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.2.2. Market estimates and forecast, by product, 2016 - 2028 (USD Million)
7.2.3. Market estimates and forecast, by application, 2016 - 2028 (USD Million)
7.2.4. U.S.
7.2.4.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.2.4.2. Market estimates and forecast, by product, 2016 - 2028 (USD Million)
7.2.4.3. Market estimates and forecast, by application, 2016 - 2028 (USD Million)
7.3. Europe
7.3.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.3.2. Market estimates and forecast, by product, 2016 - 2028 (USD Million)
7.3.3. Market estimates and forecast, by application, 2016 - 2028 (USD Million)
7.3.4. U.K.
7.3.4.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.3.4.2. Market estimates and forecast, by product, 2016 - 2028 (USD Million)
7.3.4.3. Market estimates and forecast, by application, 2016 - 2028 (USD Million)
7.3.5. Germany
7.3.5.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.3.5.2. Market estimates and forecast, by product, 2016 - 2028 (USD Million)
7.3.5.3. Market estimates and forecast, by application, 2016 - 2028 (USD Million)
7.4. Asia Pacific
7.4.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.4.2. Market estimates and forecast, by product, 2016 - 2028 (USD Million)
7.4.3. Market estimates and forecast, by application, 2016 - 2028 (USD Million)
7.4.4. China
7.4.4.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.4.4.2. Market estimates and forecast, by product, 2016 - 2028 (USD Million)
7.4.4.3. Market estimates and forecast, by application, 2016 - 2028 (USD Million)
7.4.5. India
7.4.5.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.4.5.2. Market estimates and forecast, by product, 2016 - 2028 (USD Million)
7.4.5.3. Market estimates and forecast, by application, 2016 - 2028 (USD Million)
7.5. Central and South America
7.5.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.5.2. Market estimates and forecast, by product, 2016 - 2028 (USD Million)
7.5.3. Market estimates and forecast, by application, 2016 - 2028 (USD Million)
7.5.4. Brazil
7.5.4.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.5.4.2. Market estimates and forecast, by product, 2016 - 2028 (USD Million)
7.5.4.3. Market estimates and forecast, by application, 2016 - 2028 (USD Million)
7.6. Middle East and Africa
7.6.1. Market estimates and forecast, 2016 - 2028 (USD Million)
7.6.2. Market estimates and forecast, by product, 2016 - 2028 (USD Million)
7.6.3. Market estimates and forecast, by application, 2016 - 2028 (USD Million)
Chapter 8. Competitive Analysis
8.1. Key global players, recent developments & their impact on the industry
8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
8.3. Vendor Landscape
8.3.1. Key company market share analysis, 2020
Chapter 9. Company Profiles
9.1. Inter Ikea Systems B.V.
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. Sobro
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Strategic Initiatives
9.3. Sleep Number Corporation
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Strategic Initiatives
9.4. Hi-Interiors srl
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Strategic Initiatives
9.5. Eight Sleep
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Strategic Initiatives
9.6. Modoola Limited
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Strategic Initiatives
9.7. Fonesalesman
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Strategic Initiatives
9.8. LLC Desktronik
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Benchmarking
9.8.4. Strategic Initiatives
9.9. Nitz Engineering GmbH
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Benchmarking
9.9.4. Strategic Initiatives
9.10. Rest Lunar a Retro Sys, Inc., company
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Benchmarking
9.10.4. Strategic InitiativesList of Tables
1. Smart Furniture market - Driving factor market analysis
2. Smart Furniture market - Restraint factor market analysis
3. Smart Furniture market estimates and forecast for residential, 2016 - 2028 (USD Million)
4. Smart Furniture market estimates and forecast for commercial, 2016 - 2028 (USD Million)
5. Smart desks market estimates and forecast, 2016 - 2028 (USD Million)
6. Smart chairs market estimates and forecast 2016 - 2028 (USD Million)
7. Smart Table market estimates and forecast, 2016 - 2028 (USD Million)
8. Other smart furniture market estimates and forecast, 2016 - 2028 (USD Million)
9. North America smart furniture market estimates and forecast, 2016 - 2028 (USD Million)
10. North America smart furniture market estimates and forecast, by product, 2016 - 2028 (USD Million)
11. North America smart furniture market estimates and forecast, by application, 2016 - 2028 (USD Million)
12. U.S. smart furniture market estimates and forecast, 2016 - 2028 (USD Million)
13. U.S. smart furniture market estimates and forecast, by product, 2016 - 2028 (USD Million)
14. U.S. smart furniture market estimates and forecast, by application, 2016 - 2028 (USD Million)
15. Europe smart furniture market estimates and forecast, 2016 - 2028 (USD Million)
16. Europe smart furniture market estimates and forecast, by product, 2016 - 2028 (USD Million)
17. Europe smart furniture market estimates and forecast, by application, 2016 - 2028 (USD Million)
18. U.K. Smart Furniture market estimates and forecast, 2016 - 2028 (USD Million)
19. U.K. smart furniture market estimates and forecast, by product, 2016 - 2028 (USD Million)
20. U.K. Smart Furniture market estimates and forecast, by application, 2016 - 2028 (USD Million)
21. Germany Smart Furniture market estimates and forecast, 2016 - 2028 (USD Million)
22. Germany smart furniture market estimates and forecast, by product, 2016 - 2028 (USD Million)
23. Germany Smart Furniture market estimates and forecast, by application, 2016 - 2028 (USD Million)
24. Asia Pacific Smart Furniture market estimates and forecast, 2016 - 2028 (USD Million)
25. Asia Pacific smart furniture market estimates and forecast, by product, 2016 - 2028 (USD Million)
26. Asia Pacific Smart Furniture market estimates and forecast, by application, 2016 - 2028 (USD Million)
27. China Smart Furniture market estimates and forecast, 2016 - 2028 (USD Million)
28. China smart furniture market estimates and forecast, by product, 2016 - 2028 (USD Million)
29. China Smart Furniture market estimates and forecast, by application, 2016 - 2028 (USD Million)
30. India Smart Furniture market estimates and forecast, 2016 - 2028 (USD Million)
31. India smart furniture market estimates and forecast, by product, 2016 - 2028 (USD Million)
32. India Smart Furniture market estimates and forecast, by application, 2016 - 2028 (USD Million)
33. Central & South America Smart Furniture market estimates and forecast, 2016 - 2028 (USD Million)
34. Central & South America smart furniture market estimates and forecast, by product, 2016 - 2028 (USD Million)
35. Central & South America Smart Furniture market estimates and forecast, by application, 2016 - 2028 (USD Million)
36. Brazil Smart Furniture market estimates and forecast, 2016 - 2028 (USD Million)
37. Brazil smart furniture market estimates and forecast, by product, 2016 - 2028 (USD Million)
38. Brazil Smart Furniture market estimates and forecast, by application, 2016 - 2028 (USD Million)
39. Middle East & Africa Smart Furniture market estimates and forecast, 2016 - 2028 (USD Million)
40. Middle East & Africa smart furniture market estimates and forecast, by product, 2016 - 2028 (USD Million)
41. Middle East & Africa Smart Furniture market estimates and forecast, by application, 2016 - 2028 (USD Million)
42. Company categorizationList of Figures
1. Smart Furniture market segmentation
2. Information procurement
3. Primary research pattern
4. Primary research approaches
5. Primary research process
6. Smart Furniture market- Product growth
7. Smart Furniture market- Value chain analysis
8. Smart Furniture market: Porter’s Five Forces Analysis
9. Smart Furniture market: Roadmap
10. Smart Furniture market: Product share (%) analysis, 2020 & 2028
11. Smart Furniture market: Application share (%) analysis, 2020 & 2028
12. Smart Furniture market: Regional market share (%) analysis, 2020 & 2028
13. Smart Furniture market: Estimated company market share (%) analysis, 2020
Companies Mentioned
- Inter Ikea Systems B.V.
- Sobro
- Sleep Number Corporation
- Hi-Interiors srl
- Eight Sleep
- Modoola Limited
- Fonesalesman
- LLC Desktronik
- Nitz Engineering GmbH
- Rest Lunar a Retro Sys, Inc., company
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | November 2021 |
| Forecast Period | 2020 - 2028 |
| Estimated Market Value ( USD | $ 143.6 million |
| Forecasted Market Value ( USD | $ 365.5 million |
| Compound Annual Growth Rate | 12.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
