Smart Furniture Market valued at USD 2.84 billion in 2021 and is predicted to reach USD 4.27 billion by 2030 with a CAGR of 4.6%

The Smart Furniture Market size was valued at USD 2.84 billion in 2021 and is predicted to reach USD 4.27 billion by 2030 with a CAGR of 4.6% from 2022-2030.

Smart furniture is nothing but the normal furniture such as chairs, desks, tables, and more in contemporary designs for offices and homes, which is equipped with an intelligent system or is controller operated. This furniture is designed for meeting the needs of modern-day lifestyles and is far more advanced. The number of furniture companies is integrating smart technologies to improve their products and make them consumer-centric as well as more attractive & comfortable.

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Top Companies: 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.

Market Dynamics and Trends:

The commercial sector is witnessing rapid demand for smart furniture, including smart office work station, director’s chairs, sleek chairs, smart office sofa, smart conference tables, and advanced designed cabinets, which is one of the primary factors expected to drive the growth of the smart furniture market. Furthermore, rise in demand for space saving furniture and proliferation of online shopping fuel the growth of the smart furniture market. In addition, increase in disposable income of consumers creates demand for smart furniture products.

However, fluctuation in demand for furniture along with the import and export restrictions and sudden disruption in the supply chain during the COVID-19 pandemic has hampered the growth of the market to some extent. On the other hand, ongoing trend of smart city initiatives and surge in introduction of innovative smart furniture products by market players are anticipated to provide lucrative growth opportunities for the market.

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Market Segmentations and Scope of the Study:

The global smart furniture market is segmented on the basis of product type, end use, distribution channel, and region. On the basis of product type, the market is segmented into smart table & desks, smart stools & benches, smart sofas, smart chairs, and smart bed. As per end use, the market is categorized into residential and commercial. By distribution channel, it is bifurcated into online and offline. The geography breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and ROW.

Geographical Analysis

North America holds the lion share of smart furniture market during the forecast period. This is attributed to factors such as the rapidly increasing investment in home decoration and home furniture’s in this region. Moreover, rising focus on the development of residential constructions and changes in the lifestyle are expected to drive the furniture market growth in this region.

However, Asia Pacific is expected to show a steady rise in the smart furniture market due to increasing usage of designer furniture’s embedded with new textures along with high spending capacity and growth in real estate sectors will boost the market in this region.

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