Smart Furniture Market To Grow Annually Through 2026 – Study

Advertisement
Advertisement

Analysts at Research and Markets now expect the market for smart furniture to experience annual growth of around 21.8-percent through 2026. The trend would result in a valuation of that portion of the connected home industry at around $794.8 million. That would represent relatively rapid growth for the still-emerging technology, with current estimates not predicting widespread adoption for at least three more years. The companies involved in that market will also still have a fair number of challenges to overcome. Not least of all, there is a general resistance to big changes in technology. That's something first witnessed with the advent of self-driving vehicles and advanced robotics. Moreover, common problems will still be presented thanks to the cost associated with smart furniture as compared to traditional products. Those challenges were taken into account in the analysis, which indicates a strong position for manufacturers in that segment of the market.

With that said, growth is expected to be somewhat different depending on which end of the market is being addressed. On the business side of things, the analysts expect growth to primarily center around employee satisfaction and productivity. On one hand, the firm notes an increase in shipments of smart furniture with features intended to provide convenience to employees. However, alongside that are increases in those enabling tracking of how much time an employee is sitting or standing as well as the calories being burned by an employee. Those metrics can not only help gauge how productive an employee is but can also help an organization be more active in employee health and well-being. Conversely, furniture which includes wireless charging or audio output for news, recipes, or other media is among the top categories for general consumers. Beyond that, some also allow for other IoT interactions such as internet browsing, phone calls, drink warming or cooling, and similar features are other aspects which make the products more marketable. Of course, comfort and adaptability at the touch of a button, smartphone interaction, or wave of a hand are also appealing to home consumers.

Each of those technologies is going to grow and adapt over the next several years, helping to drive the predicted growth. New and unexpected developments in the IoT will almost certainly add to that. Furthermore, home automation is another growing market in the category which will undoubtedly find its way into smart furniture products over the next couple of years.

Advertisement