According to the latest report by IMARC Group, titled "Home Office Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global home office market size reached US$ 13.40 Billion in 2020. Home office furniture is used for seating, storing documents and creating a personalized working space. It is utilized by students, employees, professionals and entrepreneurs for the purpose of writing, reading, attending online meetings and lectures, operating desktops and laptops, and storing files. These pieces of ergonomic furniture aid in improving the overall productivity of an employee. They generally involve products, such as sofas, tables, chairs, drawers, cupboards, and non-decorated kitchenware. Popularly made up of different raw materials, such as glass, plastic, wood, steel, and leather, they are commonly durable, cost-effective, space-saving and aesthetically appealing.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Home Office Furniture Market Trends:
The global market is majorly driven by the rapid outbreak of the coronavirus disease (COVID-19) pandemic and the subsequent preference for work-from-home models across the corporate sector. This is supported by the mandatory lockdowns imposed by governments across the globe in an attempt to contain the spread of the virus. This has propelled the demand for home office furniture on the global level to maintain business continuity. Moreover, there has been a considerable preference for versatile and multi-functional home office furniture among individuals as they offer enhanced portability while saving space. In line with this, numerous key players are also launching furniture with ultra-modern designs that assist in relieving the strain and fatigue of users, which is gaining widespread prominence among professionals with long working hours. Also, the introduction of connected office desks in the market that are commonly equipped with sensors that record space utilization data and assist in correcting the seating posture of individuals is creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 5.90% during 2021-2026.
- On the basis of the product type, the market has been divided into seating, storage units and file cabinets, desks and tables, and others.
- Based on the material type, the market has been classified into wood, metal, plastic, glass and others.
- On the basis of the price range, the market has been segmented into low, medium and high.
- Based on the distribution channel, the market has been categorized into supermarkets and hypermarkets, specialty stores, online stores, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Ashley Furniture Industries Inc., Haworth Inc., Herman Miller Inc., HNI Corporation, Inter IKEA Systems B.V., Kimball International Inc., Knoll Inc, KOKUYO Co. Ltd., Okamura Corporation, Steelcase Inc. and Teknion Corporation.
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