Smart Furniture Market Size
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 0.54 Billion |
| Market Size (2029) | USD 1.35 Billion |
| CAGR (2024 - 2029) | 20.19 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Smart Furniture Market Analysis
The Smart Furniture Market size is estimated at USD 0.54 billion in 2024, and is expected to reach USD 1.35 billion by 2029, growing at a CAGR of 20.19% during the forecast period (2024-2029).
The smart furniture market has witnessed significant growth in recent years, propelled by advancements in technology, increasing consumer preference for smart home solutions, and the desire for convenience and connectivity in everyday living spaces. One of the important factors driving the growth of the smart furniture market is the rising adoption of smart home devices and systems. Smart furniture encompasses a diverse range of products, including smart beds, sofas, tables, chairs, cabinets, and lighting fixtures, each equipped with intelligent features designed to enhance comfort, productivity, and entertainment experiences.
Another key aspect propelling the growth of the smart furniture market is the increasing urbanization and the trend toward smaller living spaces, particularly in densely populated cities. Smart furniture solutions, such as modular and multifunctional designs, cater to the needs of urban residents by maximizing space utilization and offering versatile functionality. For example, convertible tables that can transform into work desks or dining tables help optimize space in compact apartments, while smart storage solutions with automated organization and retrieval systems offer efficient storage solutions in limited living spaces.
However, despite the promising growth prospects, the global smart furniture market faces challenges such as high initial costs, compatibility issues, privacy concerns related to data collection, and the need for robust cybersecurity measures.
Smart Furniture Market Trends
Online Stores are Anticipated to Witness Fastest Growth in the Market
In the smart furniture market, e-commerce has emerged as a significant distribution channel. Many smart furniture manufacturers leverage e-commerce platforms to sell their products directly to consumers. E-commerce has fueled significant growth in the smart furniture market by breaking down geographical barriers and offering accessibility to consumers in remote areas. With the growing adoption of internet connectivity and the proliferation of smartphones, online furniture sales have experienced exponential growth. Consumers are increasingly embracing online shopping for furniture due to the convenience, broader product selection, and often competitive pricing offered by e-commerce platforms.
E-commerce giants such as Amazon, Alibaba, and eBay serve as online marketplaces where various smart furniture brands and retailers can list their products for sale. Many smart furniture brands operate e-commerce websites to showcase their products, provide detailed product information, and facilitate online purchases directly from their brand platforms. These branded websites enable manufacturers to effectively convey their brand identity, story, and values, fostering brand loyalty among consumers. Additionally, branded e-commerce websites allow manufacturers to implement custom marketing strategies, promotions, and loyalty programs tailored to their target audience.
North America Leading the Market
North America, particularly the United States, has been a significant market for smart furniture owing to factors such as a tech-savvy population, a culture of early technology adoption, and a strong demand for innovative home solutions. Additionally, prominent tech companies and startups focusing on smart home technologies contribute to the growth of the smart furniture market in this region. The region's tech-savvy consumer base, characterized by a high level of digital literacy and an affinity for cutting-edge gadgets and devices, fuels the demand for smart furniture.
North America is home to established manufacturers and startups specializing in smart furniture and home automation. Companies like IKEA, Herman Miller, Steelcase, and Wayfair offer a range of smart furniture products alongside emerging startups focusing on niche segments within the smart furniture market. Sustainability and energy efficiency are primary considerations for consumers in North America. Smart furniture manufacturers are responding by incorporating eco-friendly materials, energy-efficient features, and sustainable manufacturing practices into their product offerings. Overall, the smart furniture market in North America continues to evolve rapidly, driven by technological innovation, changing consumer preferences, and an increasing emphasis on connected living.
Smart Furniture Industry Overview
The smart home furniture market is highly competitive. Competition in this market is driven by innovations, product differentiation, brand recognition, distribution channels, and pricing strategies. Some of the key players in the market are IKEA, Herman Miller, Steelcase Inc., Sobro, and Sleep Number.
Smart Furniture Market Leaders
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Inter Ikea
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Herman Miller
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Steelcase Inc.
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Sobro
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Sleep Number
*Disclaimer: Major Players sorted in no particular order
Smart Furniture Market News
- July 2023: Herman Miller launched the Luva Modular Sofa Group and Cyclade Tables, two stunning designs developed in collaboration with Singaporean designer Gabriel Tan.
- February 2023: To encourage households to make more sustainable purchases, Inter IKEA Systems BV (Interogo Foundation) introduced three collections as part of its new transitional range: Vivid Wonderland, Glorious Green, and Simple Serenity.
Smart Furniture Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumption and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Disposable Income
4.2.2 Expansion of E-commerce Platforms
4.3 Market Restraints
4.3.1 Intense Market Competition
4.3.2 Volatile Prices of Raw Materials
4.4 Market Opportunities
4.4.1 Emergence of Intelligent Furniture Solutions
4.4.2 Surge in Demand for Sustainable Furniture Solutions
4.5 Value Chain Analysis
4.6 Industry Attractiveness: Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights into Technological Advancements in the Industry
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Smart Desks
5.1.2 Smart Tables
5.1.3 Smart Chairs
5.1.4 Other Products
5.2 By End User
5.2.1 Residential
5.2.2 Commercial
5.3 By Distribution Channel
5.3.1 Home Centers
5.3.2 Specialty Stores
5.3.3 Online Stores
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 United Kingdom
5.4.2.2 Germany
5.4.2.3 France
5.4.2.4 Russia
5.4.2.5 Italy
5.4.2.6 Spain
5.4.2.7 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 India
5.4.3.2 China
5.4.3.3 Japan
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 United Arab Emirates
5.4.5.2 South Africa
5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 IKEA Group
6.2.2 Herman Miller Inc.
6.2.3 Steelcase Inc.
6.2.4 Sobro
6.2.5 Sleep Number
6.2.6 Eight Sleep
6.2.7 Seebo Interactive Ltd
6.2.8 Hi-Interiors SRL
6.2.9 Modoola Limited
6.2.10 Nitz Engineering GmbH*
- *List Not Exhaustive
7. FUTURE MARKET TRENDS
8. DISCLAIMER AND ABOUT US
Smart Furniture Industry Segmentation
Smart furniture refers to furniture pieces or products that incorporate advanced technology, connectivity, and automation features to enhance functionality, convenience, and comfort for users. These furniture items are integrated with sensors, electronics, and connectivity options like Wi-Fi or Bluetooth, allowing users to control and interact with various aspects of the furniture using smartphones, voice commands, or other smart devices. The smart furniture market is segmented into product, end user, distribution channel, and geography. By product, the market is segmented into smart desks, smart tables, smart chairs, and other products (smart beds). By end user, the market is segmented into residential and commercial. By distribution channel, the market is segmented into home centers, specialty stores, and online stores. By geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The report offers market size and forecasts for the smart furniture market in value (USD) for all the above segments.
| By Product | |
| Smart Desks | |
| Smart Tables | |
| Smart Chairs | |
| Other Products |
| By End User | |
| Residential | |
| Commercial |
| By Distribution Channel | |
| Home Centers | |
| Specialty Stores | |
| Online Stores |
| By Geography | |||||||||
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Smart Furniture Market Research FAQs
How big is the Smart Furniture Market?
The Smart Furniture Market size is expected to reach USD 0.54 billion in 2024 and grow at a CAGR of 20.19% to reach USD 1.35 billion by 2029.
What is the current Smart Furniture Market size?
In 2024, the Smart Furniture Market size is expected to reach USD 0.54 billion.
Who are the key players in Smart Furniture Market?
Inter Ikea, Herman Miller, Steelcase Inc., Sobro and Sleep Number are the major companies operating in the Smart Furniture Market.
Which is the fastest growing region in Smart Furniture Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Smart Furniture Market?
In 2024, the North America accounts for the largest market share in Smart Furniture Market.
What years does this Smart Furniture Market cover, and what was the market size in 2023?
In 2023, the Smart Furniture Market size was estimated at USD 0.43 billion. The report covers the Smart Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Smart Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Smart Furniture Industry Report
Statistics for the 2024 Smart Furniture market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Smart Furniture analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
