LONDON–(BUSINESS WIRE)–Technavio has been monitoring the smart furniture market and it is poised to grow by $ 244.21 mn during 2020-2024, decelerating at a CAGR of over 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Download a Free Sample Report on COVID-19
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the smart furniture market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions:
What are the major trends in the market?
The rise in online retailing is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The market will decelerate at a CAGR of over 5% and the incremental growth of the market is anticipated to be $ 244.21 mn.
Who are the top players in the market?
CARLO RATTI ASSOCIATI Srl, Desktronic LLC, Fonesalesman Ltd., Herman Miller Inc., Inter IKEA Systems BV, Milano Smart Living, Modoola Ltd., Ori Inc., Steelcase Inc., and StoreBound LLC, are some of the major market participants.
What is the key market driver?
The increasing adoption of smart products is one of the major factors driving the market.
How big is the North America market?
The North America region will contribute to 34% of the market share.
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The market is concentrated, and the degree of concentration will decelerate during the forecast period. CARLO RATTI ASSOCIATI Srl, Desktronic LLC, Fonesalesman Ltd., Herman Miller Inc., Inter IKEA Systems BV, Milano Smart Living, Modoola Ltd., Ori Inc., Steelcase Inc., and StoreBound LLC are some of the major market participants. The increasing adoption of smart products will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this smart furniture market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Smart Furniture Market 2020-2024: Segmentation
Smart Furniture Market is segmented as below:
- Distribution channel
- North America
- South America
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Smart Furniture Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The smart furniture market report covers the following areas:
- Smart Furniture Market Size
- Smart Furniture Market Trends
- Smart Furniture Market Industry Analysis
This study identifies the rise in online retailing as one of the prime reasons driving the Smart Furniture Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Smart Furniture Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist smart furniture market growth during the next five years
- Estimation of the smart furniture market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the smart furniture market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of smart furniture market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Drivers, Challenges, and Trends
- Market drivers
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- CARLO RATTI ASSOCIATI Srl
- Desktronic LLC
- Fonesalesman Ltd.
- Herman Miller Inc.
- Inter IKEA Systems BV
- Milano Smart Living
- Modoola Ltd.
- Ori Inc.
- Steelcase Inc.
- StoreBound LLC
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.