Smart Office Furniture Market size to grow by USD 95.69 million from 2022 to 2027: Developments in connectivity technologies to be a major market driver - Technavio

NEW YORK, June 29, 2023 /PRNewswire/ -- The smart office furniture market size is estimated to increase by USD 95.69 million from 2022 to 2027, at a CAGR of 9.07%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

The smart office furniture market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed below -

Avnet Inc., Berco Designs, DEKOM AG, Featherlite Pvt Ltd, GoBright B V, Haworth Inc., Humanscale International Holdings Ltd., Interogo Foundation, Kimball International Inc., Kinnarps AB, KOKUYO Co. Ltd., Konig Neurath AG, Mikomax Sp z o o, MillerKnoll Inc., Nilkamal Ltd., Schiavello International, Smart Furniture LLC, Steelcase Inc., Tabula Sense, and ZHEJIANG SUNON FURNITURE MANUFACTURE CO. LTD. Download a Sample Report!

Smart Office Furniture Market - Segmentation Analysis

This smart office furniture market report extensively covers market segmentation by distribution channel (offline and online), product (smart tables, desks, storage, smart seating benches, and stools), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The market share growth by the offline segment will be significant for market growth during the forecast period. This segment of the global smart office furniture market consists of four categories namely direct sales, dealers, distributors, and retailers. The offline sales channel offers a large number of stock units (SKUs), giving end users a wide range of choices to choose from. Furthermore, offline sales channels also have a wide variety of brands available at retail outlets and multi-branch outlets. Hence, such factors boost the segment growth during the forecast period.

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Smart Office Furniture Market - Market Dynamics

Key Drivers

Developments in connectivity technologies drive market growth during the forecast period. Essential connectivity technologies such as Bluetooth, Wi-Fi, and IoT are used for smart office furniture. Such technological developments are driving the launch of various smart office furniture products such as smart desks, smart tables, and smart chairs.

Additionally, technological developments are driving the launch of various smart office furniture products such as smart desks, smart tables, and smart chairs. Hence, such factors drive the market growth during the forecast period.

Significant Trends

Increasing online retailing is an emerging smart office furniture market trend. Online retail includes various retail models. It includes business-to-business (B2B), business-to-business (B2C), and consumer-to-consumer (C2C) sales of goods and services remotely via smartphones, tablets, and laptops.

Moreover, the high adoption of smartphones and other technologically advanced devices is one of the main factors driving the sales of smart office furniture products. Furthermore, most smart office furniture manufacturers, retailers, and exclusive distributors are now promoting and selling their products online to increase product awareness and online presence. Hence, such trends boost the market growth during the forecast period.

Major Challenges

Long product replacement cycles challenge the growth of smart office furniture during the forecast period. Most furniture solutions, especially those for official purposes, are designed for long-term use. Also, in most cases, do not require frequent modernization or replacement.

Additionally, most intelligent office furniture products require a large investment, which is considered a one-time expense. Furthermore, high acquisition costs and long replacement cycles hamper the annual growth of the market. Hence, such challenges impede market growth during the forecast period.

Smart Office Furniture Market - Regional Analysis
The market is segmented by region North America, Europe, APAC, South America, and Middle East and Africa. An analysis of key leading countries has been included.

• North America is estimated to account for 47% of the growth of the global market during the forecast period. The US, Canada, and Mexico are some of the key countries contributing to the growth of the smart office furniture market in the region. Efficient use of office space is highly valued in the region. Also, many employers are installing smart furniture for employee health and since many employers are installing smart furniture for employee health. Hence, such factors boost the regional market growth during the forecast period.

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What are the key data covered in this Smart Office Furniture Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the smart office furniture market between 2023 and 2027
• Precise estimation of the size of the smart office furniture market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the smart office furniture market across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of smart office furniture market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global smart office furniture market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on global smart office furniture market 2017 - 2021 ($ million)

• 4.2 Distribution Channel Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)

• 4.3 Product Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments 
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel
• Exhibit 42: Market opportunity by Distribution Channel ($ million)
• Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ million)

7 Market Segmentation by Product

• 7.1 Market segments 
• Exhibit 44: Chart on Product - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 46: Chart on Comparison by Product
• Exhibit 47: Data Table on Comparison by Product

• 7.3 Smart tables desks and storage - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Smart tables desks and storage - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Smart tables desks and storage - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Smart tables desks and storage - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Smart tables desks and storage - Year-over-year growth 2022-2027 (%)

• 7.4 Smart seating benches and stools - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Smart seating benches and stools - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Smart seating benches and stools - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Smart seating benches and stools - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Smart seating benches and stools - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Product 
• Exhibit 56: Market opportunity by Product ($ million)
• Exhibit 57: Data Table on Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 63: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Canada - Market size and forecast 2022-2027
• Exhibit 87: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 France - Market size and forecast 2022-2027
• Exhibit 95: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.12 China - Market size and forecast 2022-2027
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Avnet Inc. 
• Exhibit 111: Avnet Inc. - Overview
• Exhibit 112: Avnet Inc. - Business segments
• Exhibit 113: Avnet Inc. - Key news
• Exhibit 114: Avnet Inc. - Key offerings
• Exhibit 115: Avnet Inc. - Segment focus

• 12.4 Berco Designs 
• Exhibit 116: Berco Designs - Overview
• Exhibit 117: Berco Designs - Product / Service
• Exhibit 118: Berco Designs - Key offerings

• 12.5 Featherlite Pvt Ltd 
• Exhibit 119: Featherlite Pvt Ltd - Overview
• Exhibit 120: Featherlite Pvt Ltd - Product / Service
• Exhibit 121: Featherlite Pvt Ltd - Key offerings

• 12.6 Haworth Inc. 
• Exhibit 122: Haworth Inc. - Overview
• Exhibit 123: Haworth Inc. - Product / Service
• Exhibit 124: Haworth Inc. - Key offerings

• 12.7 Humanscale International Holdings Ltd.
• Exhibit 125: Humanscale International Holdings Ltd. - Overview
• Exhibit 126: Humanscale International Holdings Ltd. - Product / Service
• Exhibit 127: Humanscale International Holdings Ltd. - Key offerings

• 12.8 Interogo Foundation 
• Exhibit 128: Interogo Foundation - Overview
• Exhibit 129: Interogo Foundation - Product / Service
• Exhibit 130: Interogo Foundation - Key offerings

• 12.9 Kimball International Inc. 
• Exhibit 131: Kimball International Inc. - Overview
• Exhibit 132: Kimball International Inc. - Product / Service
• Exhibit 133: Kimball International Inc. - Key offerings

• 12.10 Kinnarps AB 
• Exhibit 134: Kinnarps AB - Overview
• Exhibit 135: Kinnarps AB - Product / Service
• Exhibit 136: Kinnarps AB - Key offerings

• 12.11 KOKUYO Co. Ltd. 
• Exhibit 137: KOKUYO Co. Ltd. - Overview
• Exhibit 138: KOKUYO Co. Ltd. - Business segments
• Exhibit 139: KOKUYO Co. Ltd. - Key offerings
• Exhibit 140: KOKUYO Co. Ltd. - Segment focus

• 12.12 Konig Neurath AG 
• Exhibit 141: Konig Neurath AG - Overview
• Exhibit 142: Konig Neurath AG - Product / Service
• Exhibit 143: Konig Neurath AG - Key offerings

• 12.13 Mikomax Sp z o o 
• Exhibit 144: Mikomax Sp z o o - Overview
• Exhibit 145: Mikomax Sp z o o - Product / Service
• Exhibit 146: Mikomax Sp z o o - Key offerings

• 12.14 MillerKnoll Inc. 
• Exhibit 147: MillerKnoll Inc. - Overview
• Exhibit 148: MillerKnoll Inc. - Business segments
• Exhibit 149: MillerKnoll Inc. - Key offerings
• Exhibit 150: MillerKnoll Inc. - Segment focus

• 12.15 Nilkamal Ltd. 
• Exhibit 151: Nilkamal Ltd. - Overview
• Exhibit 152: Nilkamal Ltd. - Product / Service
• Exhibit 153: Nilkamal Ltd. - Key offerings

• 12.16 Schiavello International 
• Exhibit 154: Schiavello International - Overview
• Exhibit 155: Schiavello International - Product / Service
• Exhibit 156: Schiavello International - Key offerings

• 12.17 Smart Furniture LLC 
• Exhibit 157: Smart Furniture LLC - Overview
• Exhibit 158: Smart Furniture LLC - Product / Service
• Exhibit 159: Smart Furniture LLC - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 160: Inclusions checklist
• Exhibit 161: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 162: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 163: Research methodology
• Exhibit 164: Validation techniques employed for market sizing
• Exhibit 165: Information sources

• 13.5 List of abbreviations 
• Exhibit 166: List of abbreviations

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