Scope of the Study
Growing expenditure over home automation solutions and changing lifestyle will help to boost global smart furniture market in the forecasted period. Smart furniture syndicates smart home technology along with network-connected household including chairs, dressing tables, shelves, and cabinet doors. Additionally, it refers to the furniture combined with the technology consisting of network capability to permit the consumers to encompass their furniture beyond its original analog function. Frequent technological advancements have resulted in the incorporation of many features such as induction beverage warmer, wireless smartphone charging and Bluetooth speakers among others into an item of single furniture, an aspect further anticipated to strengthen the smart furniture market growth.
The market study is being classified by Type (Smart Tables, Smart Desks, Smart Stools & Benches, Smart Sofas, Smart Chairs and Others), by Application (Offices, Commercial and Home Use) and major geographies with country level break-up. According to AMA, the Global Smart Furniture market is expected to see growth rate of 21.8%
Milano Smart Living (New York), Modoola Ltd. (England), Fonesalesman (United Kingdom), Carlo Ratti (United States), Herman Miller, Inc. (United States), Tabula Sense (Russia), Ikea Systems B.V. (Netherlands), Seebo Interactive Ltd. (Israel) and Kamarq Holdings (Singapore) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Ori Systems (United States), Stich Wood (United Kingdom) and Wayfair LLC (United States).
Global smart furniture is a Niche Market Segment and it consists of the small number of players. Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Smart Furniture market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Smart Furniture market by Type, Application and Region.
On the basis of geography, the market of Smart 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). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Smart Furniture market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- High Growth Due To Its Application in the Workplace to Improve the Well-Being of the Employees
- The Increased Availability of the Software to Create Smart Furniture Is Easily Available
- Growing Adoption Due To Use of Networking Capability Such As Sensors
- Rising Inclination towards Charging Tables
- People’s Reluctance towards Adopting New Technology
- Technological Advancement Associated With Smart Furniture
- Fueling Demand in Developing Countries
- High Cost of Smart Furniture
Market Leaders and their expansionary development strategies
On 7th June 2018, Herman Miller, Inc. the global designer and furniture manufacturer has acquired a 33 percent equity interest in Nine United Denmark A/S (HAY). The deal was established for 66 million dollars. Herman Miller also acquired the rights to the HAY brand in North America for approximately 5 million dollars.
Key Target AudienceLarge, Medium-Sized, and Small Enterprises, Venture Capitalists, Value-Added Resellers, Third-Party Knowledge Providers, Investment Bankers, Investors, Government and Private Research Organizations and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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