Smart Furniture Market by Product Type (Smart Tables & Desks, Smart Stools & Benches, Smart Chairs, and Smart Beds), by End Use (Residential and Commercial), and by Distribution Channel (Online and Offline) – Global Opportunity Analysis and Industry Forec

Smart Furniture Market by Product Type (Smart Tables & Desks, Smart Stools & Benches, Smart Chairs, and Smart Beds), by End Use (Residential and Commercial), and by Distribution Channel (Online and Offline) – Global Opportunity Analysis and Industry Forecast, 2024–2030

Meta Title: Smart Furniture Market Size and Share | Statistics - 2030
Meta Des: Smart furniture market was valued at USD 3.25 Bn in 2023, and is likely to reach USD 5.18 Bn by 2030, due to surging penetration of IoT devices in residential spaces.

Smart Furniture Market
Domain – Retail and Consumer
Sub Domain – Decor and Furnishing

The smart furniture market size was valued at USD 3.25 billion in 2023, and is projected to reach USD 5.18 billion by 2030, with a CAGR of 6.9% during the forecast period, 2024–2030.

The growth of smart furniture is driven by the surging use of the Internet of Things (IoT) devices in homes worldwide. Smart furniture has sensors and connectivity features that seamlessly connect with these IoT devices to offer a more personalized and efficient living experience. As more homeowners recognize the benefits of this combination of technology and aesthetics, the smart furniture industry continues to grow, ushering in a new era of intelligent and responsive living spaces. According to the International Data Corporation (IDC), the global spending on IoT reached USD 805.7 billion in 2023, marking a significant 10.6% increase from the previous year. Investments in IoT are expected to hit USD 1 trillion by 2026, with an annual growth rate of 10.4% from 2023 to 2027. This shows that the connection between technology and furniture is growing, boosting the smart furniture market.

The global surge in disposable income is a pivotal driving force behind the growth of the smart furniture market. As people's incomes rise, they have more financial resources, enabling them to invest in smart furniture solutions that promise enhanced comfort, convenience, and efficiency in their living spaces. Reports published by the U.S. Energy Information Administration reveal that the worldwide per capita disposable income stood at USD 10,136 in 2022. It is projected to soar to USD 12,056 by 2030 and further escalate to USD 17,277 in 2050 with an average annual growth rate of 1.9%. The expanding affordability and purchasing power fueled by rising incomes are consequently propelling the demand for smart furniture, boosting the market growth.

However, the growth of the smart furniture market is hampered by the high costs associated with these products and the increased energy consumption they entail. On the contrary, the rapid advancements in home automation technology are expected to create ample opportunities for the smart furniture industry in the future. This technological progress allows the integration of smart furniture into the broader smart home ecosystem, making it user-friendly and versatile for consumers of various technical backgrounds.

Segment Overview
The global smart furniture market share is segmented based on product type, end use, distribution channel, and region.
 Based on product type, the market is categorized into smart tables & desks, smart stools & benches, smart chairs, and smart beds.
 Based on end use, the market is segmented into residential and commercial.
 Based on distribution channel, the market is categorized into online and offline.
 Based on region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW).

Regional Analysis
North America holds the dominant market share in the global smart furniture market
The smart furniture market in North America is poised for substantial growth, driven by the increasing recognition of the advantages offered by these innovative furniture solutions in creating more modern and efficient workspaces. These pieces of furniture are intentionally designed to seamlessly integrate technology, making them more intelligent and functional for contemporary work environments. They have features such as built-in charging ports, adjustable settings, and data connectivity, significantly enhancing productivity and comfort in office spaces. Additionally, the growing inclination towards urban living and the preference for more space-efficient housing options, such as apartments and condos is a substantial factor driving the expansion of the smart furniture market. These furniture pieces can transform, fold, or be concealed when not in use, optimizing limited space.

Furthermore, government initiatives and programs are pivotal in fostering the growth of the smart furniture industry in North America. This is particularly evident in the U.S., where the government actively promotes innovative workplace solutions. In January 2023, the U.S. General Services Administration (GSA) officially launched its Workplace Innovation Lab at its headquarters. This groundbreaking lab is a pioneering platform where federal agencies can assess the latest advancements in workplace furnishings and technology. It provides decision makers and their teams with the opportunity to interact with cutting-edge technologies, equipment, and furniture, all designed to empower federal employees and enhance their effectiveness. This, in turn, positively influences the smart furniture market in North America, reflecting a broader acceptance and recognition of the value of smart furniture in contemporary work settings.

Key Market Players
Leading players operating in the smart furniture industry include:
• Inter IKEA Systems BV
• Herman Miller, Inc.
• Sobro
• Steelcase, Inc.
• StoreBound LLC
• Seebo Interactive Ltd.
• Milano Smart Living
• Modoola Limited
• Hi-Interiors SRL
• Sleep Number Corporation

Recent Developments
April 2023
Sleep Number Corporation launched its next-gen Sleep Number smart beds and Lifestyle Furniture. This innovation is intended to enable sleepers to get their best sleep and realize their full potential through every stage of life. This furniture line provides a range of accessories designed to cater to different phases of life, including those related to aging and recuperation.

May 2022
Steelcase, Inc. announced the acquisition of HALCON, a manufacturer and designer of precision-tailored wood furniture for the workplace. This acquisition aims to complement the existing lineup of wooden products, providing architects, designers, and customers with even more choices for top-notch design and expert craftsmanship.

October 2022
IKEA launches a Matter ready hub DIRIGERA and new IKEA Home smart app. This new hub, accompanied by the IKEA Home smart app, allows users to connect and control all of IKEA's smart products effortlessly. This development from IKEA underscores the increasing capabilities within the smart home furniture market, providing consumers with enhanced personalization and functionality for their connected living spaces.

KEY BENEFITS
• The smart furniture market report provides a quantitative analysis of the current market and estimations from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a detailed analysis of the smart furniture market trends, including the current and future trends to depict prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the smart furniture market is provided in the report.
• The competitive analysis of the market players along with their market share in the smart furniture market is provided in the report.
• The SWOT analysis and Porter's Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the roles of stakeholders.