Smart Furniture Market Insights, Forecast to 2025

The global smart furniture market is expected to display higher growth rate over the next five years. Rapid surge in the market is credited to the robust market growth in residential housing sector. Rise in the number of online distribution channels and higher penetration of smart electronic equipment are expected to drive the growth of the market over the forecast period. Increasing demand for smart furniture via various online platforms, particularly in Asia Pacific region is credited to the massive boom in residential housing sector and ever-growing population demands.

Factors responsible for sustained growth of smart furniture market include rising per capita income, growing awareness level regarding online retail platforms and declining cost of raw materials. Globally, market is predicted to generate massive revenue over the next five years, providing numerous opportunities for industry participants to invest in research and development of smart furniture market.

Increasing adoption of smart furniture from commercial sector to enhance workplace comfort for employees, thus improving organizational productivity, is expected to fuel industry growth over the coming years. In addition, integration of smart furniture in workplace creates pleasant environment for employees and keeps them energetic during busy work schedules. Smart furniture is considered as a key aspect for home automation, thereby generating several growth opportunities for industry players.

However, lack of awareness among general population, particularly in underdeveloped economies is expected to limit market growth to a certain extent. Additionally, higher initial cost and relatively new concepts of smart furniture are the key challenges for smart furniture market, thus delaying its effective adoption. Complexity associated with design of smart furniture in comparison with traditional furniture, is further slowing the market progress.

The market is broadly categorized into two major segments based on the application type such as commercial sector and residential sector. Residential segment is growing rapidly in the market with substantial revenue generation in the last few years.

The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in housing sector, surge in number of research & development activities in the region and existence of well-established manufacturing infrastructure. In European region, Germany, France, and United Kingdom are projected to witness steady growth due the growing housing market and increasing per capita income.

Asia-Pacific region is estimated to hold a major share in the smart furniture industry with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing infrastructural activities, booming online retail sector, rising disposable income, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the smart furniture market are Milano Smart Living LLC, Modoola Ltd., Fonesalesman Ltd., Carlo Ratti Associati, Herman Miller, Inc., Tabula Sense Ltd., Ikea Systems B.V., Seebo Interactive Ltd., Kamarq Holdings Pvt., Ltd., and Ori Systems Co.

Market Segment:

The various contributors involved in the value chain of Smart Furniture include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in the Smart Furniture include
• Ikea Group
• Modoola Ltd.
• Fonesalesman
• Carlo Ratti
• Herman Miller, Inc.
• Tabula Sense
• Milano Smart Living
• Seebo Interactive Ltd
• Kamarq Holdings
• Ori Systems

Market Size Split by Type
• Smart Tables
• Smart Desks
• Smart Stools & Benches
• Smart Sofas
• Smart Chairs
• Others

Market Size Split by Application
• Offices
• Commercial
• Home Use

Market size split by Region
• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Indonesia
• Singapore
• Malaysia
• Philippines
• Thailand
• Vietnam
• Europe
• Germany
• France
• UK
• Italy
• Spain
• Russia
• Central & South America
• Brazil
• Rest of Central & South America
• Middle East & Africa
• GCC Countries
• Turkey
• Egypt
• South Africa

The key points of this report are:
• To study and analyze the global Smart Furniture market size (value & volume) by company, key regions/countries, products and application, history data from 2013 to 2017, and forecast to 2025.
• To understand the structure of Smart Furniture market by identifying its various subsegments.
• To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
• Focuses on the key global Smart Furniture manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
• To analyze the Smart Furniture with respect to individual growth trends, future prospects, and their contribution to the total market.
• To project the value and volume of Smart Furniture submarkets, with respect to key regions (along with their respective key countries).
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
• To strategically profile the key players and comprehensively analyze their growth strategies.