Market Size of GCC Smart Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
GCC Smart Furniture Market Analysis
The GCC smart furniture market is expected to witness strong growth during the forecast period, owing to factors, such as the rising population and increased construction activity. The furniture industry has become one of the most vibrant and fast-growing industries in the GCC region. The growing number of real estate developments and the increasing demand for residential properties, along with governmental initiatives to develop socio-economic infrastructure, are some of the major factors fuelling the demand for smart furniture products in the region.
Foreign players are also investing heavily in the region, either to increase their presence or to expand their businesses in these countries, thereby, further boosting the GCC region's smart furniture industry. Furniture consumption is also rising due to a positive trend in construction activity. This generates a demand for furniture, both for residential and non-residential usage. The local furniture production is relatively lesser in the GCC market, and thus, the region meets its requirements thorough the imports of foreign products.
The countries in the GCC region are heavy importers of furniture, with most of the imports coming from countries, like China, Italy, Turkey, Germany, the United States, Poland, and Malaysia.
