Smart Furniture Market

Market Overview:

The global smart furniture market size reached US$ 201.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 514.1 Million by 2032, exhibiting a growth rate (CAGR) of 10.94% during 2024-2032. Rapid urbanization resulting in growing number of smaller living spaces, the integration of IoT and connected technologies and the inflating disposable income levels, particularly in developing nations, are some of the major factors propelling the market.

Smart furniture refers to the integration of cutting-edge technology into everyday furniture items. It encompasses a diverse range of products equipped with advanced features and connectivity options to enhance comfort, functionality, and convenience in residential and commercial spaces. By utilizing the Internet of Things (IoT) technology, it controls various aspects of the furniture through mobile apps or voice commands. Additionally, it offers a combination of modern design and additional smart features which facilitate intelligent and interconnected spaces in residential or commercial settings. Some of the most common smart furniture include multifunctional pieces with built-in charging ports, wireless charging capabilities, and adjustable lighting and temperature control.

The global market is primarily driven by a growing awareness regarding environmental sustainability leading to a higher uptake of eco-friendly furniture materials and production processes. In line with this, the rising incorporation of energy-efficient technologies into furniture products by the manufacturers is providing an impetus to the market. Moreover, the rising trend of furniture customization options facilitating versatile setups as per interior décor plans are creating a positive market outlook. In addition to this, the integration with voice assistants and smart home ecosystems facilitating seamless control of furniture and connected devices through voice commands is fueling the market. Furthermore, the introduction of wellness and health monitoring features in furniture with an enhanced focus on personal well-being is acting as a significant growth-inducing factor for the market.

Smart Furniture Market Trends/Drivers:

Rapid urbanization and smaller living spaces

With the rapid pace of urbanization and the increasing popularity of smaller living spaces like apartments and condominiums, smart furniture is becoming increasingly popular. There is an augmenting demand for furniture that maximizes space utilization and provides multi-functional capabilities as individuals migrate to cities. By providing innovative solutions to these challenges, smart furniture maximizes the utility of limited spaces. Smart furniture offers versatility and practicality with built-in storage compartments and modular shelving systems that can adapt to changing needs. As a result, smart furniture caters to the specific needs of urban dwellers while providing space-saving and efficient interior design solutions.

Growing integration of IoT and connected technologies

The integration of IoT and connected technologies plays a pivotal role in the growth of the market. The proliferation of smart devices and the increasing adoption of smart home systems have increased consumer demand for furniture that seamlessly integrates with their ecosystems. Through this connectivity, smart furniture offers users the ability to control various features through voice commands or smartphone apps and adjust lighting ambiance or control room temperatures with a few taps on their devices. As these types of furniture increase convenience and support the evolving technological landscape of modern homes, they enhance the overall user experience. As a result, it plays a crucial role in the emerging trend of home automation, which is creating a positive market outlook.

Augmenting demand for enhanced comfort and ergonomics

The growing prioritization of comfort and well-being among the masses is a key driver for the market growth. Designed with a focus on enhanced comfort and ergonomics, smart furniture offers a range of features that provide customizable and luxurious experiences. Assuring perfect ergonomic support is possible with personalized temperature control, adjustable seating positions, along with automated recliners. Additionally, the combination of cutting-edge technology with ergonomic design principles is also driving the demand for smart furniture that offers tailored comfort settings. Moreover, the adaptability of smart furniture to various body types and sizes is also a major factor in fueling the growth of the market.

Smart Furniture Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global smart furniture market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on product and application.

Breakup by Product:

• Smart Desks
• Smart Tables
• Smart Chairs
• Others

Smart desks dominate the market

The report has provided a detailed breakup and analysis of the market based on the product. This includes smart desks, smart tables, smart chairs, and others. According to the report, smart desks represented the largest segment.

Smart desks are mostly preferred by individuals due to the incorporation of various features such as height adjustability, built-in charging ports, wireless connectivity, as well as IoT capabilities. Additionally, the augmenting demand for personalized comfort and adjustable settings in workplaces with an enhanced focus on ergonomic solutions is propelling the segment growth.

On the other hand, the factors driving the growth of smart tables include the escalating demand for versatile and interactive tables that control smart home devices, with built-in touchscreens, wireless charging, and integrated speakers. Additionally, the rising popularity of self-ordering, and interactive experiences in hotels, restaurants, and offices are resulting in a higher product uptake, particularly in the hospitality and commercial sectors.

The escalating demand for chairs with improved ergonomics including superior comfort and lumbar support, particularly in the corporate sector, is fueling the demand for smart chairs. In addition to this, the integration of health and well-being features, such as built-in sensors to monitor posture, sitting habits, and provide reminders for movement, resulting in enhanced user experience, is creating lucrative opportunities in the segment.

Breakup by Application:

• Residential
• Commercial
   

Commercial holds the largest share in the market

A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes residential and commercial. According to the report, commercial accounted for the largest market share.

The augmenting demand for smart furniture in commercial settings, such as offices is driven by the emerging trend of office modernization. An enhanced focus on building modern and technologically advanced work environments that enhance productivity and employee well-being tracking is providing an impetus to the segment. Additionally, rapid product utilization for enabling seamless collaboration, interactive meetings, and fostering connectivity and collaboration is creating a positive outlook for the segment.

On the contrary, the widespread popularity of smart homes along with the augmenting demand for seamless connectivity between furniture and other devices is providing a thrust to the growth of the residential segment. Rapid urbanization resulting in limited space is resulting the higher sales of smart furniture that offers space-saving solutions, thus fueling the segment growth. The introduction of modular designs, convertible functionalities, and storage options for furniture in residential settings is also acting as a significant growth-inducing factor for the segment.

 Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

North America exhibits a clear dominance, accounting for the largest market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. 

North America is the largest market for these types of furniture due to the presence of an advanced technology infrastructure. In addition to this, continual technological advancements, including IoT, AI, and smart home automation, are propelling the growth of smart furniture across the region. Furthermore, the inflating disposable income levels of the consumers allow them to pay a premium for smart furniture products offering convenience, connectivity, and enhanced functionality, thus driving the sales of smart furniture.

Moreover, an enhanced focus on smaller living spaces in urban areas has resulted in an augmented demand for space-saving and multifunctional furniture solutions, thereby driving the product adoption. Apart from this, the presence of numerous online platforms with a wide range of smart furniture offerings along with a well-established retail infrastructure providing easier product access are contributing to market growth.

Competitive Landscape:

The top players in the market are conducting extensive research and development (R&D) activities focusing on product innovation to meet evolving consumer demands. The major companies are entering into strategic partnerships and collaborations with technology providers, IoT platform developers, as well as furniture manufacturers to expand their consumer base. In addition to this, they are investing heavily in marketing and branding strategies highlighting the convenience and advanced features of smart furniture through various channels. Furthermore, the prominent players are focusing on affordable pricing strategies to create an added value to their products, along with tiered options and promotional offers.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Desktronik
• Fonesalesman Ltd.
• Inter Ikea Systems B.V.
• IOF srl
• Nitz Engineering Srl
• Sleep Number Corporation
• StoreBound LLC
• Tabula Sense

Recent Developments:

• In May 2022, Inter Ikea Systems B.V. announced the launch of DIRIGERA, a matter ready hub for smart products, along with a new IKEA Home smart app. With the introduction of DIRIGERA and its accompanying app, a key focus has been placed on streamlining the onboarding process for connecting new smart products to the smart home ecosystem.
• In April 2023, Sleep Number Corporation launched their next-generation Sleep Number smart beds and Lifestyle Furniture. These products are available for separate purchase but are intended to be optimally used together to assist sleepers in achieving optimal sleep.
• In July 2020, the majority stakes of StoreBound LLC were acquired by Groupe SEB. This merger was focused on combining individual technologies of the companies to accelerate new product introductions and expand global operating capabilities.

Smart Furniture Market Report Scope:

Key Questions Answered in This Report:

• How has the global smart furniture market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global smart furniture market?
• What is the impact of each driver, restraint, and opportunity on the global smart furniture market?
• What are the key regional markets?
• Which countries represent the most attractive smart furniture market?
• What is the breakup of the market based on the product?
• Which is the most attractive product in the smart furniture market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the smart furniture market?
• What is the competitive structure of the global smart furniture market?
• Who are the key players/companies in the global smart furniture market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the smart furniture market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global smart furniture market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the smart furniture industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.