Home Office Furniture Market Pegged for Robust Expansion by 2026
Home office furniture market is likely to witness an impressive CAGR of 6.8% during the forecast period.
A report on the Home Office Furniture Market has been recently published by Stratview Research. This Market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Home Office Furniture Market. The historic years considered for the study are 2015-2020 the base year is 2021, and the forecast period is 2021-2026.
The study includes an in-depth analysis of type, application, and regional segments. It also includes a Market channel, distribution, and customer analysis, industry cost analysis, Market analysis by application, production, revenue, and price trend analysis by type, production and consumption analysis by region, and various other Market studies.
Home office furniture market is likely to witness an impressive CAGR of 6.8% during the forecast period. Growing urbanization, rise in entrepreneurship and work from home culture, and development of multi-functional furniture are the prime factors contributing to the demand for home office furniture. Increasing popularity of smart furniture in urban areas is also one of the key factors driving the market growth.
The Market is segmented by Product Type (Seating, Storage Units, Desks and Tables, and Others), by Material Type (Wood, Metal, Plastic, Glass, and Others), by Distribution Channel Type (Flagship Stores, Specialty Stores, Online and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
This report also focuses on the short- and long-term implications of the novel Coronavirus pandemic on Home Office Furniture Market at the global, and regional dimensions. To evaluate the percentage of loss or profit to the industry, the report also compares pre-COVID and post-COVID scenarios.
The report delivers a detailed view of the industry based on Home Office Furniture Market size, Market growth, and opportunities. The report also analyses Market key aspects such as-
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Covid-19 Impact analysis.
- Market environment analysis: Growth drivers and constraints, and SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product launches, etc.
- Attractive Market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
The research provides in-depth analysis of the important elements that drive Market growth, including growth potential, opportunities, current Market trends, industry-specific obstacles, and dangers.
Key Segments Home Office Furniture Market Report Covers:
Based on the distribution channel type, the home office furniture market is segmented as flagship stores, specialty stores, online and others. The online segment was the fastest-growing segment of the market in 2020 and is likely to maintain its dominance over the forecast period. Policies such as secured transactions, cash on options, convenient return, and integrated and centralized customer service encourage consumers to purchase furniture online, which is driving the growth of the segment during the forecast period.
In terms of regions, North America is estimated to be the largest market during the forecast period, with the USA, Canada, and Mexico being the major countries with lucrative growth opportunities. The growth of the region’s market is mainly driven by the rising trend of work from home in the USA. A majority of employers are giving facility to their employees to work remotely, which in turn, is fueling the demand for home offices. People are also involving themselves in other entrepreneurial activities which lead to the high demand for home offices to greet their own personal clients in a safe and confined space. This new trend is also a key factor determining the growth of the Home Office Furniture Market in the region. Europe and Asia-Pacific are also likely to offer promising growth opportunities during the forecast period.
According to the report, brands or companies that are leading globally in this Market are –
• Ashley Furniture Industries, Inc.
• Haworth Inc.
• Herman Miller Inc.
• HNI Corporation
• Hooker Furniture Corporation
• Inter IKEA Holding B.V.
• Kimball International
• Knoll Inc.
• KOKUYO Co. Ltd.
• Steelcase Inc.
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