The Europe Smart Furniture Market would witness market growth of 11.2% CAGR during the forecast period (2021-2027).
Some of the growth catalysts for the Smart Furniture market are the surge in acceptance of tech-savvy workspace across corporate offices catering to IT, research, and laboratories, together with the desire for optimized and efficient work furniture among work-from-home professionals. Additionally, because of growing discretionary income, consumers' lifestyles are altering dramatically, particularly in urban regions. The lives of Professionals and workaholics are being made easier by the introduction of luxurious and technologically integrated products. Furthermore, rising disposable income has prompted consumers to consider their social position, resulting in greater spending on goods such as furnishings.
One of the most important elements supporting the growth of the smart furniture market is changing lifestyles. People are now more interested in investing in home automation solutions like smart furniture as a result of increased discretionary spending.
The European luxury furniture market is one of the largest and fastest expanding in the world. In addition, many significant companies in the smart furniture market in Europe are developing their own online platforms and forming partnerships with e-commerce retail outlets to expand their distribution networks, which is one of the major trends in the regional market. In addition, the expanding presence of smart furniture makers from Europe in other developing countries is expected to alter market dynamics in the future years. Furthermore, the growing international commerce of smart furniture between Germany, Italy, Poland, and China and the United States, the United Kingdom, France, and Canada is predicted to play a significant role.
The Germany market dominated the Europe Smart Furniture Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $19,915.6 Thousands by 2027. The UK market is anticipated to grow at a CAGR of 10.3% during (2021 - 2027). Additionally, The France market would experience a CAGR of 12% during (2021 - 2027).
Based on Application, the market is segmented into Commercial and Residential. Based on Product, the market is segmented into Smart Desks, Smart Tables, Smart Chairs and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Smart Furniture Market Size will Hit $290.8 Million by 2027, at a CAGR of 11.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sleep Number Corporation, Inter IKEA Systems B.V., Eight Sleep, Hi-Interiors Srl, Fonesalesman Ltd., Nitz engineering Srl, Desktronic, Modoola Limited, and Sobro (StoreBound LLC).
By Application
By Product
By Country
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