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Bedroom Furniture Market is Projected to Reach 4.7% CAGR by 2030

09-20-2022 11:58 AM CET | Fashion, Lifestyle, Trends

Press release from: Reports and Data

Bedroom Furniture Market is Projected to Reach 4.7% CAGR by 2030

The global bedroom furniture market size was USD 243.9 Billion in 2021 and is expected to register a revenue CAGR of 4.7% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is primarily driven by technological innovation in the bedroom manufacturing industry and rising consciousness of home care and furnishing. In addition, rising disposable income, higher living standards, and willingness to spend more on bedroom furnishings to assure physical and mental wellness as well as satisfaction and tranquilly after a long, stressful day at work are other factors driving revenue growth of the bedroom furniture market.

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Moreover, rising trend of interior designing through various technological advancements and innovations is also driving market revenue growth. Emerging technologies, such as Augmented Reality (AR), 3D printing, Internet of Things (IoT), and Artificial Intelligence (AI), are having a significant impact. For instance, on 29 March 2022, Renovai, a virtual AI shopping assistant and Fernish, a furniture rental startup company that offers furniture to customers on a subscription basis, teamed up to develop an AI-based interior designer, The Virtual Designer, based on a person's style, space, and budget, which predicts and suggests anything from furniture fundamentals to accent pieces. Such initiatives are driving demand for bedroom furniture. People have begun moving away from their homes to different cities and towns for work or educational objectives. As a result, renting furniture has become more common. Additionally, businesses offer furniture delivery and pickup services and customers may conveniently pay their rent on a monthly or annual basis through applications, which is also a major factor driving bedroom furniture market revenue growth.

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Some Key Highlights From the Report

• The beds and mattress segment is expected to register a significant revenue growth rate over the forecast period. The most important component of a finished bedroom is beds and mattresses. Market revenue growth is driven by availability of beds and mattresses in a variety of shapes, sizes, styles, and materials.

• The metal segment is expected to register a significant revenue growth rate over the forecast period. Metal is more durable than other materials, can last a lifetime, cleaning up is also much easier, and resists bed insect infestations better. Metal is a material that is ideal for heavy use, making shared living spaces an easy choice. Metal furniture is renowned for its elegant, streamlined design, and simple aesthetic. It has gone through many changes and modifications but has always been a useful type of material for furniture.

• The transitional segment is expected to register a significant revenue growth rate over the forecast period. Transitional interior design style is essentially a blend of traditional and modern accents, fabrications, and furniture and its best feature is its flexibility in design aesthetic nature. Transitional interior design style is ideal for those who do not want to limit aesthetics of their home's interior design to a particular era or design style. Furthermore, as no two transitional homes are alike, hence it results in creation of a house that reflects preferences and is totally unique.

• The online stores segment is expected to register fastest revenue CAGR over the forecast period. This is due to direct shipping from vendors, which eliminates need for additional warehousing expenses. Customers can choose shipping, delivery, and payment methods. Low product prices, promotions, convenience, doorstep service, and availability of a wide range of products are factors driving revenue growth of this segment.

• The North America market accounted for largest revenue share in the global market over the forecast period. Market revenue growth is driven by rising disposable income, rising knowledge of home furnishings and décor, and tendency of residing in tiny housing booms. Expansion of rental furniture in this region has also been fueled by a sizable number of foreign migrants from other parts of the world for educational or commercial objectives, which has further accelerated need for bedroom furniture.

• Companies profiled in the market report are Inter IKEA Systems B.V., Nitori Co. Ltd., Bed Bath & Beyond Inc., Ashley, Steinhoff International Holdings N.V., Wayfair LLC, La-Z-Boy Incorporated, Hooker Furniture, Vaughan Bassett, and Home Depots.

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For the purpose of this report, Reports and Data has segmented the global bedroom furniture market based on type, material, style, distribution channel, and region:

Type Outlook (Revenue, USD Billion; 2019-2030)

• Beds and Mattress
o Dressers and Mirrors
o Wardrobe and Storage
o Closet and Nightstands
o Drawers and Wall Shelves
o Others

Material Outlook (Revenue, USD Billion; 2019-2030)

• Metal
• Glass
• Solid and Engineering Wood
• Plastic
• Others

Style Outlook (Revenue, USD Billion; 2019-2030)

• Vintage and Imperial
• Modern
• Contemporary
• Transitional
• Others

Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)

• Offline Stores
• Online Stores

Regional Outlook (Revenue, USD Billion; 2019-2030)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Sweden
o BENELUX
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of APAC
• Latin America
o Brazil
o Rest of LATAM
• Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
o Israel
o Rest of MEA

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Nikhil Morankar, Head of Business Development
Reports And Data | Web: www.reportsanddata.com
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