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Smart Furniture Market By Product Type (Smart Tables, Smart Desks, Smart Stools & Benches, Smart Sofas, Smart Chairs), By Application (Corporate Offices, Residential) – Growth, Future Prospects And Competitive Analysis, 2018 – 2026

Name: Smart Furniture Market - Demand, Size and Competitive Analysis
Creator: Credence Research Inc.
Published: 2022-08-07
License: https://www.credenceresearch.com/info/privacy-policy
Keywords: Smart Furniture Market

Summary
Table Of Content
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Home automation is aiding the smart furniture market’s growth.

The smart furniture market was worth US$ 135.2 million in 2017 and is expected to grow at a CAGR of 21.8% (from 2018 to 2026) to be worth US$ 794.8 million in 2026. Smart furniture combines smart home technology with network-connected household goods such as dressing tables, chairs, shelves, and cabinet doors. Smart furniture simplifies numerous basic problems, among which electronic charging devices form a major one. Governed primarily by the residential segment, the market is highly driven by the overall rise of the smart home industry worldwide. Due to the growing consumer shift towards connected devices, the smart furniture market is expected to witness robust growth over the forecast period.

Increasing adoption of smart furniture across the workplace (corporate offices) is another prominent factor aiding the market’s growth. Smart furniture monitors the duration for which an employee stands, sits, or is away from the desk. Moreover, it also measures the calories burned by an employee while sitting at a desk. Similarly, it also sends an alert in case an employee has been sitting for quite a long time, thereby creating awareness about an ergonomic lifestyle. With increasing emphasis on incorporating ergonomic furniture by corporate entities, smart furniture is set to witness substantial growth over the forecast period.

Another important factor contributing to market growth is the rapid evolution of smart furniture designs. Smart furniture companies are developing smart tables that facilitate wireless charging of smartphones and mirrors displaying time, date, and news. In addition, changing lifestyles coupled with the rising disposable income of people across regions such as the Asia Pacific, the Middle East, Africa, and Latin America have further created a favorable environment for the smart furniture market to flourish.

Impact of COVID 19

The wood industry, which requires a strategic approach to ethical considerations, hard work, and dedication, has been hit hard by COVID-19. While the market has consistently grown for a number of firms, the business has been hindered by the lockdown.

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Market Synopsis

Increasing focus on employee welfare is propelling the adoption of smart furniture across offices.

In 2017, the residential segment led the overall smart furniture market worldwide, contributing to nearly 70% of the overall market value. One of the most prominent factors influencing residential segment growth is the rising popularity of smart homes and connected devices worldwide. Moreover, changing lifestyles and increasing discretionary income are expected to further drive the adoption of smart furniture in the residential sector over the forecast period. Apart from North America and Europe, regions such as the Asia Pacific and Latin America are expected to support the aforementioned growth factors.

The adoption of smart furniture across corporate offices is expected to witness significant growth during the forecast period. There has been an increasing focus on the part of corporate offices on employee welfare and ergonomics. The adoption of smart furniture in offices enables employers to track and monitor an employee’s activities, thereby enhancing overall productivity. Moreover, offices across the world are supporting the idea of office automation, a factor further bolstering the adoption of smart furniture in offices.

Rising discretionary income across Asia Pacific makes it the fastest-growing regional market.

The global smart furniture market is dominated by North America, which accounted for more than 35% of the overall market value in 2017. One of the most prominent factors driving the smart furniture market’s growth in the region is the strong home automation industry. Moreover, people are willing to spend more on home automation solutions as a result of their higher inclination towards a sophisticated lifestyle. In addition, the region is one of the early adopters of the Internet of Things (IoT), which has further helped the market flourish.

The smart furniture market in the Asia Pacific is expected to witness substantial growth during the forecast period. The rising inclination governs the region’s growth in home automation. With rising discretionary income, people are more likely to invest in home automation solutions, positively influencing the demand for smart furniture. Countries such as Japan, China, South Korea, and some Southeast Asian countries are estimated to play a major role in the smart furniture market in the region over the forecast period.

The smart furniture market is set to witness massive R&D activities on the part of manufacturers in the coming years.

One of the common strategies amongst players in the smart furniture market is the emphasis on product development to offer consumers more convenience and usability. For instance, Carlo Ratti Associati launched an “internet of things” sofa in April 2016. The new sofa was created with the help of the Swiss furniture company Vitra. The new smart sofa can be adjusted into different configurations using hand gestures or an app. Similarly, in 2017, Herman Miller introduced its range of connected office furniture. The desks are equipped with sensors, which help monitor usage patterns. The collected data can be further used for health and activity analysis.

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Periods of History and Forecast

2016 : historic year.

2017 : Base Year

2018–2026 : Forecast Period

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The report elucidates the detailed outline of the global smart furniture market by categorizing the market in terms of product type, application, and geography.

Product Type (2016-2026; US Dollar Millions)

Smart Tables
Smart Desks
Smart Stools and Benches
Smart Sofas
Smart Chairs

Application (2016-2026; million US dollars)

Corporate Offices
Residential

Geography Segment (2016-2026; millions of dollars)

North America
United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

Asia-Pacific (APAC)

China
Japan
India
Rest of APAC

Rest of the World (RoW)

Middle East and Africa (MEA)
Latin America

Key players profiled in the report include Milano Smart Living, Modoola Ltd., Fonesalesman, Carlo Ratti, Herman Miller, Inc., Tabula Sense, Ikea Systems B.V., Seebo Interactive Ltd., Kamarq Holdings, and Ori Systems, among others.

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Phase I – Secondary Research
1.4.2 Phase II – Primary Research
1.4.3 Phase III – Expert Panel Review
1.4.4 Assumptions
1.4.5 Approach Adopted

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Smart Furniture Market
2.2 Global Smart Furniture Market, By Product Type
2.3 Global Smart Furniture Market, By Application
2.4 Global Smart Furniture Market, By Geography

Chapter 3 Market Dynamics
3.1 Market Overview
3.1.1 Global Smart Furniture Market Value, 2016 – 2026
3.2 Market Drivers
3.3 Market Challenges
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Key Market Trends and Future Outlook
3.5 Attractive Investment Proposition
3.6 Consumer Behavior Analysis
3.7 Competitive Analysis
3.7.1 Market Positioning of Key Vendors
3.7.2 Key Strategies Adopted by the Leading Players

Chapter 4 Global Smart Furniture Market Analysis, by Product Type
4.1 Overview
4.2 Smart Tables
4.3 Smart Desks
4.4 Smart Stools & Benches
4.5 Smart Sofas
4.6 Smart Chairs

Chapter 5 Global Smart Furniture Market Analysis, by Application
5.1 Overview
5.2 Corporate Offices
5.3 Residential

Chapter 6 North America Smart Furniture Market Analysis
6.1 Overview
6.2 North America Smart Furniture Market Analysis, By Product Type, 2016 – 2026
6.2.1 Market Analysis
6.3 North America Smart Furniture Market Analysis, By Application, 2016 – 2026
6.3.1 Market Analysis
6.4 North America Smart Furniture Market Analysis, By Region, 2016 – 2026
6.4.1 U.S.
6.4.2 Canada

Chapter 7 Europe Smart Furniture Market Analysis
7.1 Overview
7.2 Europe Smart Furniture Market Analysis, By Product Type, 2016 – 2026
7.2.1 Market Analysis
7.3 Europe Smart Furniture Market Analysis, By Application, 2016 – 2026
7.3.1 Market Analysis
7.4 Europe Smart Furniture Market Analysis, By Region, 2016 – 2026
7.4.1 U.K.
7.5.1 Germany
7.5.2 France
7.5.3 Rest of Europe

Chapter 8 Asia Pacific Smart Furniture Market Analysis
8.1 Overview
8.2 Asia Pacific Smart Furniture Market Analysis, By Product Type, 2016 – 2026
8.2.1 Market Analysis
8.3 Asia Pacific Smart Furniture Market Analysis, By Application, 2016 – 2026
8.3.1 Market Analysis
8.4 Asia Pacific Smart Furniture Market Analysis, By Region, 2016 – 2026
8.4.1 China
8.4.2 Japan
8.4.3 South Asia
8.4.4 Rest of Asia Pacific

Chapter 9 Rest of the World (RoW) Smart Furniture Market Analysis
9.1 Overview
9.2 RoW Smart Furniture Market Analysis, By Product Type, 2016 – 2026
9.2.1 Market Analysis
9.3 RoW Smart Furniture Market Analysis, By Application, 2016 – 2026
9.3.1 Market Analysis
9.4 RoW Smart Furniture Market Analysis, By Region, 2016 – 2026
9.4.1 Middle East & Africa (MEA)
9.4.2 Latin America

Chapter 10 Company Profiles
10.1 Ikea Group
10.2 Modoola Ltd.
10.3 Fonesalesman
10.4 Carlo Ratti
10.5 Herman Miller, Inc.
10.6 Tabula Sense
10.7 Milano Smart Living
10.8 Seebo Interactive Ltd
10.9 Kamarq Holdings
10.10 Ori Systems

List Of Figures

FIG. 1 Global Smart Furniture: Market Segmentation
FIG. 2 Global Smart Furniture Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global Smart Furniture Market, By Product Type, 2017 (US$ Mn)
FIG. 5 Global Smart Furniture Market, By Application, 2017 (US$ Mn)
FIG. 6 Global Smart Furniture Market, By Geography, 2017 (US$ Mn)
FIG. 7 Global Smart Furniture Market Value, 2016 – 2026, (US$ Mn)
FIG. 8 Attractive Investment Proposition
FIG. 9 Market Positioning of Key Smart Furniture Vendors, 2017
FIG. 10 Global Smart Furniture Market Value Contribution, By Product Type, 2017 & 2026 (%)
FIG. 11 Global Smart Tables Market Value, 2016 – 2026, (US$ Mn)
FIG. 12 Global Smart Desks Market Value, 2016 – 2026, (US$ Mn)
FIG. 13 Global Smart Stools & Benches Market Value, 2016 – 2026, (US$ Mn)
FIG. 14 Global Smart Sofas Market Value, 2016 – 2026, (US$ Mn)
FIG. 15 Global Smart Chairs Market Value, 2016 – 2026, (US$ Mn)
FIG. 16 Global Smart Furniture Market Value Contribution, By Application, 2017 & 2026 (%)
FIG. 17 Global Smart Furniture Market Value from Corporate Offices, 2016 – 2026, (US$ Mn)
FIG. 18 Global Smart Furniture Market Value from Residential, 2016 – 2026, (US$ Mn)
FIG. 19 North America Smart Furniture Market Value, 2016 – 2026, (US$ Mn)
FIG. 20 Europe Smart Furniture Market Value, 2016 – 2026, (US$ Mn)
FIG. 21 Asia Pacific Smart Furniture Market Value, 2016 – 2026, (US$ Mn)
FIG. 22 RoW Smart Furniture Market Value, 2016 – 2026, (US$ Mn)

List Of Tables

TABLE 1 Market Snapshot: Global Smart Furniture Market
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 North America Smart Furniture Market Value, By Product Type, 2016 – 2026 (US$ Mn)
TABLE 5 North America Smart Furniture Market Value, By Application, 2016 – 2026 (US$ Mn)
TABLE 6 North America Smart Furniture Market Value, By Region/Country, 2016 – 2026 (US$ Mn)
TABLE 7 Europe Smart Furniture Market Value, By Product Type, 2016 – 2026 (US$ Mn)
TABLE 8 Europe Smart Furniture Market Value, By Application, 2016 – 2026 (US$ Mn)
TABLE 9 Europe Smart Furniture Market Value, By Region/Country, 2016 – 2026 (US$ Mn)
TABLE 10 Asia Pacific Smart Furniture Market Value, By Product Type, 2016 – 2026 (US$ Mn)
TABLE 11 Asia Pacific Smart Furniture Market Value, By Application, 2016 – 2026 (US$ Mn)
TABLE 12 Asia Pacific Smart Furniture Market Value, By Region/Country, 2016 – 2026 (US$ Mn)
TABLE 13 RoW Smart Furniture Market Value, By Product Type, 2016 – 2026 (US$ Mn)
TABLE 14 RoW Smart Furniture Market Value, By Application, 2016 – 2026 (US$ Mn)
TABLE 15 RoW Smart Furniture Market Value, By Region/Country, 2016 – 2026 (US$ Mn)
TABLE 16 Ikea Group: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 17 Modoola Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 18 Fonesalesman: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 19 Carlo Ratti: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 20 Herman Miller, Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 21 Tabula Sense: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 22 Milano Smart Living.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 23 Seebo Interactive Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 24 Kamarq Holdings: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)
TABLE 25 Ori Systems: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Business Strategy Analysis, Recent Developments)

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Frequently Asked Questions:

What is the size of Smart Furniture Market?

The market for Smart Furniture is expected to reach US$ 794.8 Mn in 2026.

What is the Smart Furniture Market CAGR?

The Smart Furniture market is expected to see significant CAGR growth over the coming years, at 21.8%

What is the Forecast period considered for Smart Furniture Market?

The report is forecasted from 2018-2026.

What is the base year considered for Smart Furniture Market?

The base year of this report is 2017.

Who are the major players in this Market?

Ikea Group, Modoola Ltd., Fone sales man, Carlo Ratti, Herman Miller, Inc. are some of the major players in the global market.

About Author

Sushant Phapale

ICT & Automation Expert

Sushant is an expert in ICT, automation, and electronics with a passion for innovation and market trends.

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