According to a report available on Radiant Insights, Inc.; the global smart furniture market is expected to show strong growth by 2022.
Chaining lifestyle and growing spending on home automation solutions can drive the market during the forecast period (2018 to 2022). Smart furniture provides several facilities including internet browsing and calling, listening to radio, wireless charging for smart devices, and control cooling and heating systems are among others. Convince of smart furniture as compared to traditional furniture is expected to bode well for the market. Constant technological advancements such as Bluetooth Speakers, wireless charging, and induction beverage warmer, and many new exciting features into a single furniture is anticipated to supplement the market growth in the coming years.
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Growing implementation of smart furniture in corporate offices to improve productivity of employee is also expected to supplement the market growth in the years to come. These products monitor activity of an employee related to total sitting time. It also calculates the calories burnt while sitting. In addition, if employee has been sitting for so long, it sends alerts. This is expected to spread ergonomic lifestyle. Demand for smart tables and chairs is quite high in offices. Also, growing trend of online shopping due to high penetration of smartphones is also expected to bode well for the market. Online retail avoids the need of maintaining physical stores.
However, lack of awareness of technology among the consumers can hamper the market growth. Additionally, high cost of smart furniture as compared to traditional furniture is also expected to restrict the market growth.
Worldwide smart furniture market can be segmented on the basis of application, distribution channel, and region. Based on application, the market can be categorized into residential and commercial. As per distribution channel, the market can be classified into online and offline.
Geographically, the smart furniture market can be divided into Americas, Asia Pacific, and Europe, the Middle East and Africa (EMEA). Americas has been dominating the market and expected to display significant growth during the forecast period. The region is expected to provide immense opportunities to market participants in the coming years. Asia Pacific smart furniture market is also expected to show notable growth during the forecast period. Growing disposable income and increasing acceptance of newer technology in this region is likely to support the regional growth.
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Prominent players operating in the smart furniture market include Steelcase, CARLO RATTI ASSOCIATI, Inter IKEA Systems, Herman Miller, and StoreBound (Sobro). Players are mainly emphasizing on innovative product design that can provide comfort and better usability to the clients.
For instance, Recently, Magniflex introduced Magni SmarTech Smartbed And Integrated Sleep System in India. The Magni SmarTech mattress is an integrated sleep system enables user to learn about his/her sleeping habits. It comprises several features such as chromo therapy, zero gravity, anti-snoring, monitoring body vitals, and adjustable base. The system is built with sensors, which helps to fetch data related to total sleeping time, wake-up times, heartbeat rate percentage of light, average respiratory frequency, and body movements. Collected data can be shared with users through web browser or smartphone app.
Earlier, Carlo Ratti Associati launched an innovative sofa built with IoT, which can be adjust into different configuration with the help mobile app or hand gestures. The sofa is developed in partnership with Vitra, Swiss based furniture company.
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