Increased Introduction of Smart Furniture to Boost Growth

Technavio’s market research analysts have concluded that the smart furniture market size will grow steadily in the next few years and reach more than USD 916 million by 2022. According to Technavio’s smart furniture market research report, the increasing use of furniture in detecting the well-being of employees will be one of the top factors impelling market’s growth during the next few years. With a growing number of organizations offering enhanced workplace comfort to their employees owing to lack of physical activities and busy work schedules, the awareness of smart furniture across industries has increased considerably in recent years.

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Opportunities in Smart Furniture Market:

With the growing digital literacy and growing penetration of smartphones worldwide, vendors in the smart furniture, market are focusing on marketing and selling them products through online distribution channels to survive in this competitive market. Online retailing eliminated the need for holding huge inventories and maintaining physical stores. By improving the visibility of the retail business through the elimination of geographical restrictions for delivering products and services, online retailing allows the retailers and furniture manufacturers to target untapped markets. According to Technavio’s smart furniture industry research analysis, an increasing number of furniture market players such as Steelcase, Sobro and Space Max advertising and selling their furniture through online retailing will be one of the top trends gaining traction in the smart furniture market during the next few years.

A key factor driving the growth of the market is the growing demand for modern furniture in educational institutions. The changing education patterns and methods of teaching are leading to a modification in the infrastructure of educational institutions. In addition, the growing economy and increased focus on aesthetics have fueled the demand for modern furniture in schools across Europe. This demand for modern furniture is expected to grow rapidly due to the growing number of international schools with aesthetically-appealing learning centers. The focus on aesthetics boosts the demand for modern educational furniture in Europe. Accessories in the furniture industry, including wall plates and other modern accessories, are customized in terms of color, theme, texture, and design. As modern furniture is characterized by innovative designs and technologically advanced production practices, it is sold at high costs, which will boost market growth over the forecast period.

As per Technavio, the increased introduction of smart furniture will have a positive impact on the market and contribute to its growth significantly over the forecast period. This contract furniture and furnishing market research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.

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