Global Library Furniture Market 2017-2021
About Library Furniture
Library furniture is gaining ground as a prominent feature across schools and colleges. Library furniture comprises adjustable chairs, tables, storage units for books and magazines, display stands, shelves, bookcases, and newspaper reading stands. These products are used by students, teachers, librarians, and other members of schools or colleges.
Library furniture is manufactured by various vendors according to the needs and demands of students. The material of the furniture plays an important role while making purchase decisions. Vendors use steel, wood, plastics, and other materials to give different shapes and sizes to the library furniture.
Technavio’s analysts forecast the global library furniture market in the education sector to grow at a CAGR of 10.96% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global library furniture market in the education sector for 2017-2021. To calculate the market size, the report considers the sale of library furniture only to the K-12 and higher education segment of the education market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Library Furniture Market in the Education Sector 2017-2021
Technavio recognizes the following companies as the key players in the global library furniture market in the education sector: Herman Miller, KI, Steelcase, and Smith System.
Other Prominent Vendors in the market are: Knoll, Fleetwood Group, BRODART, Hertz Furniture, and MINNCOR Industries.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Online sales of library furniture. With the advent of the Internet, several vendors got the opportunity of showcasing their products on the websites, and thus creating an online marketplace for the global furniture market. The rapid adoption of smartphones and digitization has enabled the school and higher education authorities to take appropriate decisions about the furniture they will prefer in their premises. The specifications and nitty-gritty of the library furniture can be modified according to their requirements using the online platform of sales. Thus, the online sales of library furniture market in education industry are expected to drive the market in the long run.”
According to the report, one of the major drivers for this market is Increasing number of K-12 schools and colleges. The growth of the library furniture market in education industry is directly driven by the increasing number of K-12 schools and colleges, particularly in APAC and North America. The Middle Eastern region comprising the Gulf Cooperation Council (GCC) countries have also witnessed a mounting increase in demand for K-12 international schools, as usually immigrants worldwide prefer their children to study in such schools from an early age. Schools in the developed regions are provided with open spaces for libraries, playgrounds, and auditoriums. The funding made by angel investors and venture capitalists for such developments are expected to drive the library furniture market in education industry in the long run.
Further, the report states that one of the major factors hindering the growth of this market is Continuous digital intervention. The rapidly rising use of smartphones and digital resources for finding information these days is one of the factors contributing to the lowering usage of school and college libraries. The quest for knowledge among the students is answered by the Internet-based content, which, in turn, is anticipated to hinder the library furniture market in education industry growth in the next few years.
Herman Miller, KI, Steelcase, and Smith System. Knoll, Fleetwood Group, BRODART, Hertz Furniture, and MINNCOR Industries.