Global Smart Furniture Market By Product (Smart Desks, Smart Chairs, Smart Tables, and Other Products), By Application (Residential and Commercial), By Distribution Channel (Online and Offline), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Smart Furniture Market size is expected to be worth around USD 5.6 Billion by 2032 from USD 2.2 Billion in 2022, growing at a CAGR of 10% during the forecast period from 2023 to 2032.

The smart furniture is designed to be connected to the internet as well as with other devices and can be controlled by voice commands or using various apps. This furniture is often used in offices, homes, and other places that make life easier. Also, it can be used to control things such as temperature, shade, and light. This furniture is very beneficial as it makes it easier for people to save energy and control their environment.

The factor that favors the growth of the smart furniture market is the increase in the adoption of smart furniture in homes, commercial spaces, and offices. Furthermore, the rising awareness about the benefits of this furniture was another factor that propelled the market growth.

Also, the demand for the market will likely surge due to the increase in the demand for office furniture, which is based on connectivity technologies that will help employees and also improve the productivity of organizations.

Driving Factors

Technological Advancements in the Market

The primary driving factors of the smart furniture market are the constant technological advancements such as smart home automation, the adoption of IoT, and artificial intelligence.

The aim of these advancements was to deliver improved connectivity, functionality, and proper convenience to the user. Furthermore, the increasing demand for smart home systems is projected to increase the demand for the market in the upcoming year.

Restraining Factors

High Price of Smart Furniture

The high price of smart furniture is due to the numerous facilities provided by this furniture. Thus, it is not convenient for many consumers to afford them, and this might have an impact on the sales of smart furniture manufacturers. Furthermore, the lack of awareness about this furniture among consumers was another factor that hampers the market growth.

Growth Opportunities

Increasing Adoption of Connected Technology in Smart Furniture

Smart furniture continued to be integrated by various key players so that it would be built more efficiently, comfortably, and intelligently. Also, the concept of working from home and the home office is in demand which further propels the demand for desktop chairs and tables. These above-mentioned factors will drive the demand for smart furniture in the upcoming years.

Additionally, the increasing adoption of connected technology in smart furniture, such as IoT in office furniture, WiFi, sensors, date & news, mirror display of time, and wireless charging of smartphones, will surge the demand of the market over the forecast period. Furthermore, the increase in the number of start-up companies in emerging countries was attributed to market growth.

Latest Trends

Smart Furniture with IoT Facility

The demand of consumers was shifting towards furniture, which was interconnected to the IoT; this will likely boost the market growth in the coming years. Furthermore, the demand for smart office furniture, which was embedded with sensors, was increasing as it helps to analyze the activity of the employees by evaluating and assessing the inactive and active working hours of the employees.

Also, these smart furniture have various features, such as helping to capture the number of calories burnt & notifying the user with a sedentary alert when the user sits for long sitting hours without doing any physical activity. Thus, the application of smart furniture was estimated to rise during the forecast period.

By Product Analysis

The Smart Desks Segment held the Highest Market Share

The product segment was divided into smart desks, smart chairs, smart tables, and other products. The smart desks segment held the highest revenue share of 37% of the market. The surge in office & commercial building construction and remodeling activity was projected to augment demand as companies are furnishing new office spaces.

A smart desk is a computer workstation that possesses capabilities and features that improve the productivity of the user. It was usually equipped with different types of sensors, which permits them to be controlled through the remote with the help of software and apps.

By Application Analysis

The Commercial Collected the Majority of the Market Share

The application segment was divided into residential and commercial. The commercial segment held the majority share of 54% of the overall market. The primary factors responsible for the growth of the segment were the increasing demand for advanced-designed cabinets, smart conference tables, smart office sofas, sleek chairs, and smart office workstations.

The companies are remodeling work areas to include modern features like collaborative work areas and open floor plans. Thus, the rise in office improvement activity was expected to support the growth of the market during the forecast period.

By Distribution Channel Analysis

The Online Segment Accounted for the Considerable Market Share

The distribution channel segment is divided into online and offline. The online segment accounted for a considerable market share. Factors such as the surge in disposable incomes and the worldwide increase in the number of smartphone users will create an opportunity for furniture retailers to sell through the online channel. This improves the purchase processes in terms of reliability and security.

Smart Furniture Market Segments

By Product

• Smart Desks
• Smart Chairs
• Smart Tables
• Other Products

By Application

• Residential
• Commercial

By Distribution Channel

• Online
• Offline

COVID-19 Impact

 The COVID-19 Pandemic has Hindered Market Growth

The growth of the smart furniture market has been hindered due to factors such as disruption in the supply chain, import & export restrictions, and fluctuation in the demand for the furniture. At the same time, the surge in innovative smart furniture products by major players and the continuing trend of smart city initiatives were estimated to provide growth opportunities for the smart furniture market.

Regional Analysis

North America Dominated the Global Smart Furniture Market

North America accounted for the majority share of 34.4% of the overall market owing to the adoption of technology and the rise in the number of working professionals in this region. The market in this region is expanding and is expected to witness extreme sales growth in the forecast period. The growth of the market is attributed to the increasing demand for automation in home appliances by the population.

Also, people are investing in home furniture and home decoration which will further propel the market in this region. Furthermore, the changes in lifestyle and the increasing focus on the development of residential constructions will likely drive market growth in this region during the forecast period.

Asia Pacific was estimated to show steady growth in the market owing to the growing usage of designer furniture along with the latest textures. Additionally, the growth in the real estate sectors will further propel the growth of the market in this region.

In countries such as Japan, India, & China the penetration of internet connectivity was increasing, and also due to rapid urbanization the demand for the market was estimated to grow in this region.

Key Regions and Countries

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

The prominent key players in the market have adopted different strategies such as collaboration, partnership, product development, agreements, and product launches to enhance the growth of the market. Product innovations and technological advancements in the market lead to the expansion of the market.

For instance, in 2020, Herman Miller introduced the special gaming edition Sayl Chair and expanded its gaming series. This chair was designed for optimum comfort and ultimate performance with the best color options, and thus, it attracts gamers who have the desire to play in a style atmosphere.

Top Key Players in the Smart Furniture Market:

• Inter Ikea Systems B.V.
• Sobro
• Sleep Number Corporation
• Hi-Interiors srl
• Motorola Limited
• Herman Miller
• Desktronik
• Nitz Engineering GmbH
• Milano Smart Living
• Other Key Players

Recent Developments:

• In July 2021- Herman Miller declared the completion of its previously declared acquisition of Knoll, Inc., This will transform the company into a prominent pioneer in modern design.
• In May 2022- Steelcase Inc. declared that it would buy HALCON. HALCON is a Minnesota-based manufacturer and designer of precision-tailored wood office furniture. The acquisition will be added to the current wood product collection of Steelcase. This will deliver master craftsmanship and uncompromising design to the clients and experts.

Report Scope: