Global Smart Furniture Market - 2022-2029

Global Smart Furniture Market - 2022-2029

Market Overview

The global smart furniture market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Smart furniture is ordinary furniture, such as chairs, desks, tables, and other items in contemporary designs for businesses and homes that have an intelligence system controlled by a controller. This furniture is significantly more complex and developed to fulfill the needs of modern-day lifestyles. Many furniture firms are incorporating smart technologies to improve their goods and make them more consumer-centric, appealing, and comfy. Many manufacturers, like Steelcase Inc., SobroAB, and others, are changing their focus to creating smart furniture, and selling their products through online retailing is one of the current trends in the smart furniture market.

Market Dynamics:

Smart furniture is growing more popular in numerous industries, and consumer attitudes are evolving toward a simpler lifestyle

Smart furniture is a critical component of home automation, opening up a slew of new business potential for industry companies. Smart furniture is made up of cutting-edge technology that allows customers to live comfortably. The commercial sector's increasing adoption of smart furniture to improve workplace comfort for employees, hence improving organizational efficiency, is predicted to drive market growth in the future years. Furthermore, incorporating smart furniture into the workplace creates a pleasant environment for employees and energizes them during demanding workdays.

Smart furniture allows users to listen to music and check the news on the internet. Furthermore, by connecting their handsets via Bluetooth, users can make and receive calls from their furnishings. This technology is also employed in domestic heating and cooling systems. This device also monitors individual biometrics such as movement and heartbeat and provides advice on how to improve sleep. Smart furniture is preferable to traditional furniture since it allows for wireless charging of smart gadgets. Networked computers, sensors, and numerous I/O devices are all included in smart furniture.

However, market growth is projected to be limited due to a lack of knowledge among the general public, particularly in developing economies. Furthermore, the smart furniture market has several hurdles, including greater starting costs and relatively novel concepts, delaying its successful implementation. The complexity of smart furniture design compared to regular furniture is delaying market growth even more.

Market Segmentation:

Smart desk is the dominating segment during the forecast period

A smart desk is one that incorporates technology to make you more productive and healthier. Many businesses, including Facebook, Twitter, and Apple, use smart desk furniture in their offices. The clever sit-stand desk's modes allow customer to switch between standing and sitting positions. These desks' smart features will also alert you when it's time to stand and when it's time to sit. All of this was made feasible through the application of artificial intelligence in the desks.

The smart table segment is anticipated to exhibit the fastest CAGR of XX% over the forecast period. The lifestyle of consumers in urban areas is changing owing to increased disposable income. Luxurious products are becoming an essential part of their life; as a result, they are ready to spend more.

Geographical Penetration:

Due to the huge number of manufacturers, North America will be the most dominant segment over the forecast period

North America is expected to dominate the smart furniture market during the projected period. This is due to the region's fast-expanding spending on home décor and furniture. Furthermore, the furniture market in this region is predicted to grow due to increased attention to developing residential structures and lifestyles. Forbes Magazine has chosen Ashley Furniture Industries (Ashley) as one of America's Best Large Employers for the second year. Ashley is the world's largest furniture manufacturer and one of the best-selling furniture shop brands, with innovative manufacturing and distribution facilities in California, Florida, Mississippi, North Carolina, Pennsylvania, Texas, and Wisconsin. Ikea has released new furniture to make home smart and your life easier. IKEA has just released a new smart furniture collection that focuses on functionality and efficiency. The line's products are enhanced by innovations to meet our demands and make our daily lives more pleasant and convenient. The collection includes everything from smart tables to mattresses with built-in theatre systems that can also charge your gadget.

Competitive Landscape:

Inter IKEA Systems BV, Herman Miller, Inc., Steelcase Inc., StoreBound LLC, Seebo Interactive Ltd., Milano Smart Living, Modoola Limited, Sobro, Hi-Interiors SRL, and Sleep Number Corporation are among the smart furniture industry players. To influence market growth, top market players in the worldwide smart furniture industry use a variety of methods such as product introduction, product development, partnership, collaboration, and agreements. For example, Herman Miller expanded the gaming series in October 2020 with the release of the Special Gaming Edition Sayl Chair, which is built for optimal performance and optimum comfort with six new expressive colour options that entice gamers to play in style. The Hariana Tech Smart Ultimate Bed has everything user “s need for a relaxing night's sleep. A built-in massage chair with a remote control, a Bluetooth speaker, and an air purifying system are all included in the furniture.

COVID-19 Impact:

Positive impact on the global smart furniture market

The pandemic's earliest and most serious impact on the market was on the supply chain, which impacted raw material availability and end-product sales. Second, the production of furniture things necessitates a wide range of industrial procedures, greatly affected the COVID-19 pandemic's lockdowns and government limitations. However, fluctuations in furniture demand, import and export restrictions and supply chain disruptions caused by the COVID-19 outbreak, have impeded the market's growth to some extent. On the other hand, the market is expected to benefit from the growing trend of smart city initiatives and the increased launch of innovative smart furniture items by industry participants.

Why Purchase the Report?

Understand the current market scenario and viability of global smart furniture market over the forecast period

Visualize the composition of the global smart furniture market in terms of product type, and application to identify major players, growth potential, and market strategies

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the global smart furniture market – Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

The global smart furniture market report would provide an access to approximately 60 market data tables, 55 figures and 190 pages

Target Audience:

Furniture Manufacturers

Import and Export Companies

Industry Investors

Education & Research Institutes

Research Professionals