Market Size of UAE 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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UAE Smart Furniture Market Analysis
In the United Arab Emirates, people are increasing their spending on renovating homes (furniture, kitchens, bathrooms, and flooring), and are investing in higher-quality products. In Abu Dhabi and Dubai, there are many expats (more than 170 nationalities), therefore, the region is developing as a potential market for all types of furniture.
The COVID-19 pandemic has impacted commercial and residential construction activities highly, resulting in a significant drop in the revenue of smart furniture. Additionally, the delivery of furniture items from Italy was postponed or interrupted due to difficulties in the production and shipping of goods. The current COVID-19 outburst is hammering the luxury brands heavily. Luxury hotels, hospitality services, and high-end travel retailers have already experienced significant fatalities led by the tumbling global demand.
The rising construction and real estate sector in the country plays a major role in driving the demand for finished luxury furniture products for the next few years. This rise in demand has led to the growing domestic demand and the emergence of multiple players catering to the same target audience. Manufacturers and retailers operating in the region compete on almost the same grounds of quality of the product and the material used to manufacture the product.
