Market Size of North America 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 |
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North America Smart Furniture Market Analysis
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.
