Smart Furniture Industry Overview
The global smart furniture market size was valued at USD 143.6 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.4% from 2021 to 2028.
Major factors favoring the progress include the rise in adoption of tech-savvy workspace across the corporate offices catering to IT, research, laboratories, clubbed with the demand for optimized and functional work furniture among the work-from-home professionals.
Gather more insights about the market drivers, restrains and growth of the Global Smart Furniture Market
The 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.
Browse through Grand View Research's Homecare & Decor Industry Research Reports.
- Furniture Market - The global furniture market size was valued at USD 531.5 billion in 2019 and is expected to grow at a CAGR of 5.1% from 2020 to 2025. The market is driven by various factors such as rising disposable incomes, growth of real estate and hospitality industries, and demand for luxury and premium furniture from certain consumer sections.
- Luxury Furniture Market - The global luxury furniture market was valued at USD 21,389.5 million in 2014 and is expected to reach USD 28,600.7 million in 2022, growing at a CAGR of 3.7% over the forecast period. Major factors owing to progress in this sector include rise in disposable income that leads to rise in demand for luxury living thus influencing sector growth.
Smart Furniture Market Segmentation
Grand View Research has segmented the global smart furniture market on the basis of product, application, and region:
Smart Furniture Product Outlook (Revenue, USD Million, 2016 - 2028)
- Smart Desks
- Smart Tables
- Smart Chairs
- Others
Smart Furniture Application Outlook (Revenue, USD Million, 2016 - 2028)
- Residential
- Commercial
Smart Furniture Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global smart furniture market include
- Inter Ikea Systems B.V.
- Sobro
- Sleep Number Corporation
- Hi-Interiors srl
- Modoola Limited
- Fonesalesman, LLC
- Desktronik
- Nitz Engineering GmbH
- Rest Lunar a Retro Sys, Inc., company
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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