Global Smart Furniture Market (2017-2024)-Research Nester

Smart furniture refers to the furniture combined with the technology such as network capability to allow the customers to extend their furniture beyond its original analogue function. Smart furniture enables the users to listen to music, browse the internet for news, weather and recipes among other applications. It also allows the users to make and receive calls from their furniture by linking their handsets via Bluetooth. Furthermore, smart furniture can also be linked to door bells to monitor visits, open doors and control the heating and cooling systems in the household. Moreover, the smart furniture has also come up with the new model of bed that tracks the individual biometrics including movements, heartbeat and breathing and provides advice on how to improve the sleep.

Market Size and Forecast

The market is expected to achieve robust growth in terms of revenue during the period 2017 to 2024 with approximately 26 billion connected devices by 2024. The major factors responsible for the growth will be the customers’ access to the various applications such as listening music and controlling the temperature of the furniture such as couch. The North America especially the U.S. has contributed significantly in the overall revenue of smart furniture market and is anticipated to expand at a stupendous growth rate over the period 2017-2024.

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Changing in lifestyle along with rising personal disposable and adaptability towards smart furniture in Asia Pacific region is expected to increase the growth of the market in Asia Pacific and other developing regions such as Eastern Europe and Latin American countries.

Market Segmentation

Our in depth analysis of the global smart furniture market includes the following segments:
By Product:
• Sofa
• Sofa Beds
• Chairs
• Tables
• Dining
• Desks
• Stools and Benches
• Lounge Chairs
• Side Tables
By Application
• Office
• Home

By Region:

Global Smart Furniture market is further classified on the basis of region as follows:
• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
• Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
• Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth & Opportunity Analysis
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis

Growth Drivers and Challenges

The growth of the market is driven by its application in the workplace to improve the well-being of the employees. The furniture connected with the networking capability such as sensors is used to detect the well-being of the employees. These sensors monitor how long the employee sits, stands or is away from the desk. It also measures the calories that an employee burns just from sitting at their desk as he or she works. Moreover, the program can also signal an employee to stand up if he or she has been sitting for a long while. Further, the employees’ privacy is also maintained because the personal data is not shared. Moreover, the information about the calories burned is available on a real time basis. This use of the smart furniture at the workplace has led to the growth of the global smart furniture market. Further, its use in the retail industry has pushed the market to the global level. The customers at the retail store can find out the furniture with the ease that they have been looking on their website with the help of their smartphones. Moreover, their use in the home furniture such as charging table has also pushed the market to the global level. The charging tables let the users know where the table should be placed so that it can be charged.

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These charging tables make use of Qi technologies for making the wireless charging possible and thus reducing the space occupied by the other wires in the house and subsequently make the house less clumsy. Further, the modular sofas consisting of the stools allow the users to lift the seat up and down with its central stand. This motion can be controlled either with a smartphone app, or by activating embedded sensors that recognize gestures. Also, the stools can be adjusted to form chairs. As a result, it allows the users to make the optimum utilization of the space with an ease. This reason has led to the increase of the market to the global level. Moreover, with the smart furniture families can cook meals with the recipes right on the cabinet door; women can search for accessory ideas or makeup tutorials in their dressing rooms. These cabinet doors and the dressing rooms are built with in touch screens and the internet connectivity without the use of smartphones and tablets, thus providing the ease to the customers. Moreover, the increased availability of the software to create smart furniture is easily available leading to the push of the market. However, the market is a niche segment and consists of the small number of the players that provides smart furniture. Moreover, the products are costly as it is a niche market and there still remains a challenge on the part of the developing countries like India to get adapts to these products.

Key players

• Milano Smart Living
o Company Overview
o Key Product Offerings
o Business Strategy
o SWOT Analysis
o Financials
• Eastern Smart Furniture SDN BHD
• Knoll
• Carlo Ratti
• Modoola
• Stitch Wood
• FurniQi
• Vitra
• Herman Miller
• Innovation
Scope and Context
Overview of the Parent Market
Analyst View

Segmentation

The Global Smart Furniture Market is segmented as follows:
• By Product Market Size & Y-O-Y Growth Analysis
• By Application Market Size & Y-O-Y Growth Analysis
• By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment

To know more about this research, kindly visit:
http://www.researchnester.com/reports/smart-furniture-market-global-demand-analysis-opportunity-outlook-2024/263

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