Smart Furniture Market 2022-2028

Title:Global Smart Furniture Market Size, Share &Trends Analysis Report by Type (Smart Tables, Smart Desks, Smart Sofas, Smart Chairs, and Others), by Application (Residential, and Commercial), and by Distribution Channel (Online and Offline) Forecast Period (2022-2028).

The global smart furniture market is anticipated to grow at an exponential CAGR of 20.2% during the forecast period. Changing lifestyles in urban areas due to an increase in disposable income is driving the growth of the smart furniture market globally. Smart furniture are supporting the busy life of working people and also provides people with more luxurious, aesthetic, and modern appealing homes, which in turn increased the demand and manufacturing of smart furniture across the globe. For instance, in January 2021, Xiaomi launched Cheers, an elegant sofa with smart functions. The Cheers sofa in the side seats offers an electric reclining system that allows a reclining angle ranging from 110 ° to 160 °. The product is also been integrated with a USB socket positioned on the side of the sofa, which can recharge tech devices, such as smartphones, tablets, TWS headphones, and other various accessories.

The global smart furniture market is segmented based on type, application, and distribution channel. Based on the type, the market is segmented into smart tables, smart desks, smart sofas, smart chairs, and others. Based on the application, the market is sub-segmented into residential, and commercial. Based on the distribution channel, the market is sub-segmented into online and offline. Among the type segment, smart beds are expected to hold a prominent share in the global smart furniture market. The rising stress level and sleeping disorders such as insomnia in people are creating the demand for smart beds. People face difficulty in sound sleep on traditional beds, due to which many companies are focusing on developing and launching smart beds. These beds embed various smart features such as anti-snoring mode, massage mode, stress-reducing feature, and others. For instance, in January 2022, Sleep Company launched Elev8 Smart Bed for sound and restful sleep. The bed launched provides smart features and functions such as zero gravity mode, automatic massage, and anti-snoring mode. Additionally, it reduces the stress on the body, thus experiencing zero gravity or weightlessness.

Geographically, the global smart furniture market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Asia-Pacific region is expected to hold a prominent market share in the global smart furniture market, due to the increasing modernization among the population. In addition, smart technology-based companies and service providers are rapidly being established across the nations including China and India, owing to the huge population base, thus further propelling the growth of the market in the Asia-Pacific region. For instance, in March 2022, the Sleep Co., Asia's SmartGRID technology pioneers and the champions of the comfort tech movement extended the versatility of its patented SmartGRID technology to a new category with the launch of the Onyx and Aristo Chairs. The Onyx and Aristo Chairs are available at the launch price of $166.7 (INR 12,999) and $192.3 (INR 14,999) respectively.

The major companies serving the global smart furniture market include Inter IKEA Systems B.V., IOF Srl (Hi-Interiors srl), StoreBound LLC (Sobro), Milano Smart Living, MillerKnoll, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2022, Xiaomi unveiled the 8H Feel Leather Smart Electric Bed X Pro. The 8H Feel Leather Smart Electric Bed X Pro is equipped with dual motors each on the back and legs. The motors are capable of lifting weights of up to 600kg and smooth lifting. The motors offer silent operations with a maximum operating sound of less than 45dB silent operation. The electric bed supports individual adjustment of 60° on the back and 40° on the legs and can be adjusted as fine as 1°.

Research Methodology

The market study of the global smart furniture market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.

• Whitepapers, research papers, and news blogs.

• Company websites and their product catalog.

The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

• Global Smart Furniture Market Research and Analysis by Type.
• Global Smart Furniture Market Research and Analysis by Application.
• Global Smart Furniture Market Research and Analysis by Distribution Channel.

The Report Covers:

• Comprehensive research methodology of the global smart furniture market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global smart furniture market.
• Insights about market determinants that are stimulating the global smart furniture market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.