Storage and Modular Furniture Market Scope
Flexible, modular storage systems are usually made up of different units, shelves, doors, and components that can be combined and customized to fit your space Modular furniture is when separate pieces of furniture are used together to create a finished design in an office, home, or venue. Smart furniture works in such a way that increases the comfort level and occupies less space. Furniture like tables attached with chairs drawers, lamps, etc. Increasing demand for home decoration and renovation trends among the global population.
|Unit||Value (USD Million)|
|Key Companies Profiled||Durham Furniture Inc. (Canada), Haworth Inc. (Haworth International Ltd.) (India), HNI Corporation (United States), Kimball International Inc. (United States), Kohler Co. (United States), Durian Industries Ltd (India), Zuari (India), brand-Evok (India), Wipro (India) and Nilkamal (India)|
Storage and Modular Furniture is a fragmented market due to the presence of a large number of established competitors. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. increases the comfort level and occupies less space. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Durham Furniture Inc. (Canada), Haworth Inc. (Haworth International Ltd.) (India), HNI Corporation (United States), Kimball International Inc. (United States), Kohler Co. (United States), Durian Industries Ltd (India), Zuari (India), brand-Evok (India), Wipro (India) and Nilkamal (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Godrej Interio (India).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Storage and Modular Furniture market by Type , by Application (Household, Office Application and Other) and Region with country level break-up.
On the basis of geography, the market of Storage and Modular Furniture has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
In March 2021, HNI partnered with Marxent for 3D Product Configurator and 3D Home Office Planner Apps. HNI Corporation and Marxent announced the release of several new 3D Commerce apps. Included are a 3D Product Configurator for Hearth & Home Technologies, the HON Now 3D Room Planner, and the mobile-friendly HON Home Office Scene Configurator – all created to serve consumers who are working and shopping from home.
Influencing Trend:Growing home decoration and renovation trends among the global population
Market Growth Drivers:Furniture design is a growing field and Increases the comfort level and occupies less space.
Challenges:Unsuitable for Regular Usage
Opportunities:Developing Real Estate Industry
Key Target AudienceStorage and Modular Furniture companies, Retailers, wholesaler, distribution, Research and Development (R&D) companies, Market research and consulting service providers, Government Agencies, End User Industry and Others