Need a report that reflects how COVID-19 has impacted this market and its growth?
Smart furniture is ordinary furniture, such as chairs, desks, tables, and other items in contemporary designs for businesses and homes that have an intelligence system controlled by a controller. This furniture is significantly more complex and developed to fulfil the needs of modern-day lifestyles. Many furniture firms are incorporating smart technologies to improve their goods and make them more consumer-centric, appealing, and comfy.
North America is expected to dominate the smart furniture market during the projected period. This is due to the region's fast-expanding spending on home décor and furniture. Furthermore, the furniture market in this region is predicted to grow due to increased attention to developing residential structures and lifestyles.
The COVID-19 pandemic's earliest and most serious impact on the market was on the supply chain, which impacted raw material availability and end-product sales. Second, the production of furniture things necessitates a wide range of industrial procedures, greatly affected by the COVID-19 pandemic's lockdowns and government limitations. However, fluctuations in furniture demand, import and export restrictions and supply chain disruptions caused by the COVID-19 outbreak, have impeded the market's growth to some extent. On the other hand, the market is expected to benefit from the growing trend of smart city initiatives and the increased launch of innovative smart furniture items by industry participants.
Scope of the Report
Smart furniture is a furniture integrated with technology such as sensors and intelligent systems that enhances its functionality, for example, coffee tables with wireless charging. A complete analysis of the North America smart furniture market, which includes an assessment of the emerging trends by segments, significant changes in market dynamics and market overview, is covered in the report. The North America Smart Furniture Market is segmented by Product Type (Smart Tables & Desks, Smart Chairs, Smart Sofas, Smart Beds, Other Products), by End User (Residential, Commercial), by Distribution Channel (Offline, Online), and by Geography (United States, Canada, Mexico).
|By Product Type|
|Smart Tables & Desks|
|By End User|
|By Distribution Channel|
Key Market Trends
Rapid Evolvement in Designs of Smart Furniture
Smart furniture manufacturers are increasingly developing new furniture that facilitate various technologies, such as wireless charging of smartphones, mirror display of time, date & news, as well as sensors deployed in furniture that detect the well-being of the user. Owing to such a factor, employers in offices are increasingly adapting to smart office furniture so as to monitor employee activities, such as how long the employee sits, stands or is away from the desk, and the calories burnt by the employee. Furthermore, many end consumers are increasingly shifting towards smart furniture owing to the multiple transformation facilities provided by the furniture, such as stools transforming from modular sofas just at the press of a button in the user’s smartphone, and smart beds that helps to maintain health of the user by keeping a track of the user’s heart rate, respiration rate, sleeping posture and others. Such factors are anticipated to drive the growth of the North America smart furniture market during the forecast period.
To understand key trends, Download Sample Report
Increasing Adoption of Smart Products
The commercial sector is witnessing rapid demand for smart furniture, including smart office workstation, director’s chairs, sleek chairs, smart office sofa, smart conference tables, and advanced designed cabinets, which is one of the primary factors expected to drive the growth of the smart furniture market. Furthermore, rise in demand for space saving furniture and proliferation of online shopping fuel the growth of the smart furniture market. In addition, increase in disposable income of consumers creates demand for smart furniture products.
However, fluctuation in demand for furniture along with the import and export restrictions and sudden disruption in the supply chain during the COVID-19 pandemic has hampered the growth of the market to some extent. On the other hand, ongoing trend of smart city initiatives and surge in introduction of innovative smart furniture products by market players are anticipated to provide lucrative growth opportunities for the market.
To understand geography trends, Download Sample Report
The North American smart furniture market is competitive with presence of many players. The smart furniture market in the region is largely driven by the manufacturer's ability to create new and innovative furniture products which bring more elegance to the interiors. The growing demand for high-end furniture across end-user segments is driving the manufacturers to create unique furniture to attract customers. Some of the major players are IKEA, Milano Smart Living, Modoola Ltd, Sobro, Carlo Ratti.
June 2022: Ingka Group, the largest IKEA retailer, launched its new, AI-driven digital design experience, IKEA Kreativ. The intuitive new experience offers customers the first lifelike, fully integrated way to design and visualize their own living spaces, from computers and smartphones.
March 2022: Ikea has revealed a robotic piece of furniture developed in collaboration with Ori (American furniture start-up) that can simultaneously serve as a bed, wardrobe, shelving and storage unit, sofa, and room separator. It can be used to constantly convert a space between a closet, living room, and bedroom.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
4.5 Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on Latest Trends and Innovations in the Industry
4.7 Insights on Recent Developments in the Industry
4.8 Consumer Preferences and Buying Behavior Analysis
4.9 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Smart Tables & Desks
5.1.2 Smart Sofas
5.1.3 Smart Beds
5.1.4 Smart Chairs
5.1.5 Other Products
5.2 By End User
5.3 By Distribution Channel
5.4 By Geography
5.4.1 United States
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.3 Carlo Ratti
6.2.4 Modoola Ltd
6.2.5 Milano Smart Living
6.2.6 Ori Living
6.2.8 Eight Sleep
6.2.9 HI-Interiors Srl
6.2.10 Nitz Engineering Srl*
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The North America Smart Furniture Market market is studied from 2018 - 2027.
What is the growth rate of North America Smart Furniture Market?
The North America Smart Furniture Market is growing at a CAGR of >5% over the next 5 years.
Who are the key players in North America Smart Furniture Market?
IKEA, Sobro, Modoola Ltd, Carlo Ratti, Milano Smart Living are the major companies operating in North America Smart Furniture Market.