The latest report by IMARC Group, titled “Home Office Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global home office furniture market size reached US$ 3.2 Billion in 2021. Home office furniture refers to versatile and multi-functional furniture units used for creating a professional setup in at-home workspaces. It comprises writing and corner desks, tables, chairs, drawers, couches, bookshelves, and cabinets that are manufactured using durable materials, such as steel, wood, and plastic. These are available in a wide variety of aesthetically appealing styles and finishes that are lightweight, comfortable, portable, and consume minimal space. Owing to these properties, home office furniture is widely utilized by employees, professionals, and entrepreneurs for writing, reading, attending online meetings and lectures, operating desktops and laptops, and storing files.
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.
Global Home Office Furniture Market Trends:
The market is primarily driven by the rising adoption of remote working practices. This can be attributed to the lockdown measures implemented by governments of several countries to prevent the spread of the coronavirus disease (COVID-19), which have encouraged businesses around the world to shift toward the work-from-home (WFH) and remote working model. In addition, the growing awareness among individuals regarding the advantages of the home office concept, such as work flexibility, a broader spectrum of recruitment, and reduced infrastructure costs, represents another major growth-inducing factor. Besides this, the leading market players are introducing ultra-modern designs that relieve the strain and fatigue of users caused by long seating. They are also developing connected office desks equipped with sensors that can record space utilization data and help correct the seating posture of individuals. This, coupled with the increasing allowances provided by multinational companies (MNCs) to their employees for purchasing home office furniture, is escalating the product demand across the globe. Looking forward, IMARC Group expects the market value to reach US$ 5.5 Billion by 2027, exhibiting a CAGR of 9.4% during 2022-2027.
- Based on the product type, the market has been segmented into seating, storage units and file cabinets, desks and tables, and others.
- On the basis of the material type, the market has been segregated into wood, metal, plastic, glass, and others.
- Based on the price range, the market has been classified into low, medium, and high.
- The market has been categorized based on the distribution channel into supermarkets and hypermarkets, specialty stores, online stores, and others.
- Region-wise, the market has been divided 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 examined in the report, with some of the key players being 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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter : @imarcglobal