Global Home Office Furniture Market 2015-2019
About Home Office Furniture
The concept of home offices soared while the world was dwindling in financial crunch during 2008-2009 and the Eurozone debt crisis in 2011-2012. The demand for home office furniture increased worldwide, especially in the Americas and European countries. The increased penetration of desktop computers demands for respective furniture set up that includes at least a chair and a desktop table. Besides being used as an office, home offices are used for other purposes. Therefore, the furniture set up demands such customization that it conceals files and other office equipment while not in use. Therefore, multi-functional versatile furniture are gaining popularity over other home office furniture.
Technavio's analysts forecast the global home office furniture market to grow at a CAGR of 5.58% during the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the global home office furniture market for the period 2015-2019. To calculate the market size, the report considers revenue generated from the retail sales of the following types of home office furniture:
Technavio Announces the Publication of its Research Report – Global Home Office Furniture Market 2015-2019
Technavio recognizes the following companies as the key players in the global home office furniture market: Ashley Furniture Industries, Inter IKEA Group, Sears Holdings and Steelcase
Other Prominent Vendors in the market are: Haworth, Herman Miller, HNI, Kimball International, Knoll, KOKUYO Furniture, Masco and Poltrona Frau
Commenting on the report, an analyst from Technavio’s team said: “Increased penetration of the Internet and a rise in the use of smartphones and consumer banking systems have led to the growth of e-commerce. Therefore, most furniture manufacturers feel encouraged to sell their products online as e-commerce is gaining traction worldwide. Vendors such as Herman Miller sell furniture both online and through brick-and-mortar stores. Online retail stores also reduce the cost incurred for inventory and rental space. They are also available 24/7 and thus offer convenience to consumers in purchasing products over the Internet from anywhere. Vendors can also share digital catalogs of their products through this channel. Other advantages of online retailing such as easy returns and exchange are also expected to boost market growth.”
According to the report, setting up a home office has become easier and more affordable. The availability of high-speed Internet, declining cost of computers, and availability of software that allows virtual meetings have contributed to this scenario. Home offices need to boost productivity, so they need to be well lit, well powered, well equipped — and well furnished. With a growing number of people working from home, the demand for modular units and prefabricated structures that economize on space is increasing.
Further, the report states that a shortage of skilled labor in the furniture manufacturing industry because the aging workforce is retiring and manufacturing jobs appeal to few young people.
Ashley Furniture Industries, Inter IKEA Group, Sears Holdings, Steelcase, Haworth, Herman Miller, HNI, Kimball International, Knoll, KOKUYO Furniture, Masco, Poltrona Frau
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