The Asia Pacific Smart Furniture Market would witness market growth of 12.2% CAGR during the forecast period (2021-2027).
The smart furniture market is expected to grow rapidly over the forecast period, owing to rising spending on home automation solutions. Smart furniture, sometimes known as the "future of furniture," is seen as a key component of home automation, opening up a slew of new commercial potential. Despite being in its initial stage, the industry has shown bright prospects of widespread adoption in the next years. Moreover, smart furniture has a number of features, including the ability to charge smart devices wirelessly, listen to the radio, search for news or recipes, browse the internet, and make phone calls, among others. Smart furniture is considerably superior to traditional furniture because of this.
Due to growing advancements in the residential real estate industry in Asian countries such as India and China, the global players are focusing on entering the APAC region to capitalize on the high potential that exists in the regional market. In addition, Furniture is truly an asset that upgrades the space on a regular basis, and smart furniture provides joyful vibes with a standardized office setting. Due to this, many commercial and residential buildings in the regional market are incorporating smart furniture to drive up the efficiency of the employees.
In this region, a lot of business owners are working on this nowadays to make their offices more appealing. Smart furniture charms visitors and business associates. Aside from that, smart furniture with comfort features increases staff productivity, resulting in increased business growth. Moreover, the smart furniture enhances the view while also improving the employees' comfort.
The China market dominated the Asia Pacific Smart Furniture Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $25,432.9 Thousands by 2027. The Japan market is exhibiting a CAGR of 11.6% during (2021 - 2027). Additionally, The India market would showcase a CAGR of 13% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Smart Furniture Market is Projected to reach USD 290.8 Million by 2027, at a CAGR of 11.7%
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).
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