Smart Furniture Market to Grow with a CAGR of 9.12% through 2028
Growing trend of
smart homes and product innovation are driving the Global Smart Furniture
Market in the forecast period 2024-2028.
According to
TechSci Research report, “Smart Furniture Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Smart Furniture Market stood at USD 300.89 Million in 2022 and is
anticipated to grow with a CAGR of 9.12% in the forecast period, 2024-2028. The
Global Smart Furniture Market is a dynamic and rapidly evolving sector
characterized by the integration of cutting-edge technology into furniture to
enhance functionality, convenience, and overall user experience. Smart furniture
represents a revolutionary approach to interior design, as it seamlessly blends
aesthetics with advanced features. This market's growth can be attributed to
several key factors.
Firstly, the
growing demand for Internet of Things (IoT) integration is a significant driver
of the global smart furniture market. As IoT technology becomes increasingly
prevalent in households and businesses, consumers seek furniture that can
connect and communicate with other smart devices, creating a cohesive and
interconnected living or working environment. Smart furniture often includes
features like wireless charging, voice-activated controls, and embedded sensors
that enable users to control lighting, temperature, and other settings
effortlessly.
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Secondly, the
rise of smart homes and connected living spaces is fueling the adoption of
smart furniture. Consumers are looking for furniture pieces that seamlessly
integrate with their smart home ecosystems, allowing for greater control and
customization. Smart sofas, tables, and beds, for example, can adjust their
settings, provide wireless charging, or even offer massage functionalities,
enhancing the overall comfort and convenience of living spaces.
Another driving
factor is the trend of urbanization, which has led to smaller living spaces and
an increased need for space optimization. Smart furniture plays a vital role in
addressing this challenge by offering multifunctional and space-saving
solutions. Modular seating arrangements, folding tables, and wall beds that
transform into desks are popular choices for urban dwellers looking to maximize
their living areas.
Furthermore, the
growing focus on sustainability and energy efficiency is prompting
manufacturers to develop eco-friendly smart furniture solutions. These may
include energy-efficient lighting, the use of sustainable materials, and
furniture that can adapt its settings to conserve resources. As consumers
become more environmentally conscious, sustainable smart furniture options are
gaining traction in the market.
Lastly, the
global smart furniture market's expansion is driven by the convergence of these
factors, leading to increased affordability and accessibility. As technology
advances and production costs decrease, smart furniture is becoming more
attainable for a broader range of consumers, further stimulating market growth.
In conclusion,
the Global Smart Furniture Market is experiencing robust growth due to the increasing
demand for IoT integration, the rise of smart homes, the challenges of urban
living, the trend towards sustainability and energy efficiency, and the overall
convergence of these factors. As technology continues to advance and consumers
seek more convenient and connected living experiences, the smart furniture
market is poised for sustained growth and innovation in the years ahead.
Manufacturers and stakeholders in this industry will need to adapt and innovate
to meet evolving consumer demands and capitalize on the expanding market
opportunities.
The Global Smart
Furniture Market is segmented into product, application, distribution channel,
regional distribution, and company.
Based on product
the market is segmented into smart table, smart desks, smart chairs, and
others. The
Global Smart Furniture Market is experiencing a surge in demand for smart desks
driven by the need for adaptable and ergonomic workspaces. With remote work
becoming prevalent, smart desks equipped with height adjustment, sit-stand
capabilities, and integrated technology features are highly sought after,
promoting comfort and productivity in modern work environments.
Based on
application the market is segmented residential and commercial.
Based
on distribution channel the market is segmented into offline and online.
Based
on region the market is segmented into five regions, North America, Europe,
Asia Pacific, Middle East & Africa, and South America.
Major companies
operating in Global Smart Furniture Market are:
- Inter Ikea Systems B.V.
- Sobro
- Herman Miller
- Sleep Number Corporation
- Hi-Interiors srl
- Modoola Limited
- Desktronik
- Nitz Engineering GmbH
- Fonesalesman, LLC
- Wayfair Inc
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“Technological
advancement is a significant trend that is expected to have an impact on growth
over the forecasted period. Growing trend of smart homes, rising demand from
commercial sector and product development will positively impact the Global
Smart Furniture Market. Due to the wide range of products available to meet
specific needs of, as well as the growing popularity of the online distribution
channel, the market is growing at impressive rate through projected period,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Smart
Furniture Market By Product (Smart Table, Smart Desks, Smart Chairs, Others),
By Application (Residential, Commercial), By Distribution Channel (Offline,
Online), By Region, By Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Smart Furniture Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Smart Furniture Market.
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