Office Furniture Market Globally Grow at a CAGR of 5.54% by Revenue During the Forecast Period 2017-2020

ALBANY, NY, April 21, 2017 : Multinational companies are expanding their businesses worldwide into new cities and countries and the corporate sector is realizing ever-increasing profits. In a bid to make these office spaces more employee-friendly and comfortable to work in, employers are using innovative furniture and design concepts. The rising number of employees also necessitates higher investment in office furniture. Manufacturers in the office furniture industry are cognizant of the evolving trends in the market and are developing ergonomic and eco-friendly products to cater to these requirements.

The market is driven primarily by the booming real estate sector, rising population, and an increase in the number of single-family households, particularly in urban areas. The growing demand for premium and luxury furniture in the latest styles and designs will also drive revenue growth over the next five years. Demand for eco-friendly furniture is also growing.

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Technavios analysts forecast the global office furniture market to grow at a CAGR of 5.54% during the period 2016-2020.

Covered in this report
The report covers the present scenario and the growth prospects of the global office furniture market for 2016-2020. To calculate the market size, Technavio considers the revenue generated from the sales of office furniture including furniture used in public, private, and government-owned companies. It does not include products used in hospitals, educational institutions, and restaurants.

The market is divided into the following segments based on geography:
APAC
Europe
North America
ROW

Technavio's report, Global Office Furniture Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
Herman Miller
HNI
Kokuyo
Okamura
Steelcase

Other prominent vendors
9to5 Seating
AFC Systems
Berco Furniture Solution
Clarin
Creative Wood
Global Upholstery
Godrej & Boyce
KI
Kimball International
Kinnarps
Knoll
Meridian Office Group
Sedus, Teknion
Wipro Furniture

Market driver
Launch of innovative design concepts to enhance work environment
For a full, detailed list, view our report

Market challenge
Emergence of virtual workplace
For a full, detailed list, view our report

Market trend
Introduction of multifunctional furniture
For a full, detailed list, view our report

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Key questions answered in this report
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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