Europe Smart Furniture Market Analysis
The Europe Smart Furniture Market is expected to register a CAGR of greater than 7% during the forecast period.
The production of smart furniture in the European region was severely constrained in 2020 and 2021 by the coronavirus outbreak (COVID-19). In an effort to reduce costs, it has disrupted supply chains, led to a lack of goods, and ended contracts. The overall expansion of the smart furniture market in the European region was also constrained by manpower shortage.
Several prominent firms in the smart furniture market in Europe are building their own online platforms and forming partnerships with e-commerce retailers to increase their distribution networks, which is one of the primary trends in the regional market. In addition, market dynamics are anticipated to change in the coming years due to the growing presence of manufacturers of smart furniture in other developing nations. Furthermore, it is anticipated that the expanding international trade in smart furniture between China, Germany, Italy, Poland, the United States, the United Kingdom, and France would play a key role.
The growing acceptance of tech-savvy workspace in corporate offices that serve IT, research, and laboratories, as well as the demand for efficient and effective office furniture among professionals who work from home, are some of the major drivers for the market for smart furniture. In addition, consumers' lifestyles are substantially changing as a result of rising discretionary spending, particularly in urban areas. The advent of luxury and technologically advanced products is making the lives of professionals and workaholics simpler. Additionally, consumers are spending more on items like furniture as a result of increased social awareness brought on by higher disposable income.
Europe Smart Furniture Market Trends
Home Automation Aiding the Smart Furniture Market Growth
Network-connected household items including dressing tables, chairs, shelves, and cabinet doors are combined with smart home technologies to create smart furniture. One of the many fundamental issues that smart furniture tries to solve is the process of charging electrical gadgets. The market, which is predominantly governed by the residential sector, is heavily influenced by the global rise of the smart homes industry. The market for smart furniture is anticipated to increase strongly over the coming years as a result of consumers' growing preference for linked products.
Another significant element supporting the market expansion is the growing adoption of smart furniture in corporate workplaces. Smart office furniture keeps track of how long a worker stands, sits, or is away from their workstation. Additionally, it calculates how many calories an employee consumes while sitting at the desk. To raise awareness of an ergonomic lifestyle, it also sends alerts when an employee has been sitting for an extended period of time. Smart furniture is expected to have significant growth during the forecast period as corporate organisations place more emphasis on adopting ergonomic furniture.
Germany is Projected to Grow at the Fastest Rate for European Smart Home Market
Germany, the continent's economic engine, is essential to the development of the European smart home market. The majority of Germans like luxurious, modern residences. Additionally, it is anticipated that more people will move into new homes during the next 4-5 years, which could present opportunity for novel and smart Furniture. Future furniture for smart houses is currently the subject of active research in Germany. Prior to France and Italy, Germany is among the top players in the European market for smart furniture. Germany is one of the global hotspots for the smart home market, which is anticipated to have significant growth in the years to come. Germany continues to dominate the European market for smart homes because it is a pioneer in new technology adoption.
Europe Smart Furniture Industry Overview
The market for European smart furniture is moderately fragmented in nature owing to the presence of a large number of regional as well as international players. In terms of market share, some of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.
Europe Smart Furniture Market Leaders
Inter Ikea Systems B.V.
Herman Miller
Steel Case Inc
Sobro
Sleep Number Corporation
- *Disclaimer: Major Players sorted in no particular order
Europe Smart Furniture Market News
- On 15th September 2021, Bachmann announced their innovation in the form of wireless workstation, which can be flexibly positioned wherever it is needed. With this innovation, Bachmann aims to revolutionize the future of the world of work.The statement was made at the SICAM event in Pordenone, Italy, which was the annual gathering of the world's leading manufacturers of furniture accessories, semi-finished goods, and components.
- In June 2021, two French furniture manufacturers have agreed to merge and form a European powerhouse. The P3G Group and Alsapan announced their agreement after months of negotiations and a new company called Alpagroup will be formed.
