North America Smart Furniture Market Size, Share & Industry Trends Analysis Report By Application (Commercial and Residential), By Product (Smart Desks, Smart Tables, Smart Chairs), By Country and Growth Forecast, 2021 - 2027
The North America Smart Furniture Market would witness market growth of 11.1% CAGR during the forecast period (2021-2027).
Smart furniture is made up of cutting-edge technology that allows customers to live comfortably. In addition, smart furniture allows users to listen to music and check the news on the internet. Furthermore, by connecting their handsets via Bluetooth, the user can make and receive calls from their furniture. This technology is also employed in domestic heating and cooling systems. This device also monitors individual biometrics such as movement and heartbeat, as well as gives advice on how to improve sleep. Smart furniture is preferable to traditional furniture since it allows for wireless charging of smart gadgets. Networked computers, sensors, and numerous I/O devices are all included in smart furniture
Additionally, businesses are progressively using smart furniture for their workers in an effort to improve their well-being and productivity. Employee behaviors like sitting or standing time and calories burned can be tracked with smart furniture. As a result, smart furniture is likely to become more popular in corporate workplaces in the next years as a result of these benefits.
The regional market is witnessing increased population awareness and rising commercial and residential space pricing. In addition, retail trade sales of furniture retailers in Canada climbed from USD 9.47 million in 2011 to USD 11.56 million in 2018, according to Statistics Canada, Canada's national statistical office.
Moreover, individuals are increasingly emphasizing aesthetics and urbane lives as a result of increased urbanization, resulting in increased use of high-end furniture products. All major nations in the region witnessing an increase in their urban population, which stimulates demand for premium products like luxury furniture. North America was the world's most urbanized continent in 2020, with the majority of the population living in cities. Because of its great aesthetic value and durability, luxury furniture composed of wood and metal is gaining favor among buyers. In developed economies, the rise of eco-friendly and multifunctional luxury furniture would help the market to flourish.
The US market dominated the North America Smart Furniture Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $73,467.8 Thousands by 2027. The Canada market is estimated to grow at a CAGR of 13.6% during (2021 - 2027). Additionally, The Mexico market would display a CAGR of 12.6% 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 U.S., Mexico, Canada, and Rest of North America.
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).
Scope of the Study
Market Segments covered in the Report:
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