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Modular Furniture Market Trends

  • Report ID: GMI11033
  • Published Date: Aug 2024
  • Report Format: PDF

Modular Furniture Market Trends

One prominent trend market is the surging demand for smart, tech-integrated pieces. With the rise of smart homes, consumers increasingly seek furniture that not only complements their space but also melds effortlessly with technology. This encompasses modular items featuring built-in charging stations, adjustable lighting, and voice-controlled functionalities. Such tech-forward designs address the contemporary consumer's appetite for convenience and innovation, all while upholding the inherent flexibility and utility of modular arrangements.
 

Additionally, the ascent of remote work propels this trend, as home offices increasingly require adaptable, multi-functional furniture to optimize workspaces. According to the American Home Furnishings Alliance (AHFA), the market for smart furniture has grown by 15% annually over the past three years. Similarly, data from the International Housewares Association (IHA) indicates that 40% of consumers prioritize tech integration when purchasing new furniture. These statistics underscore the significant shift towards smart, adaptable furniture solutions in the market.
 

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The modular furniture industry was valued at USD 81.3 billion in 2023 and is likely to grow at over 4.3% CAGR through 2032, propelled by urbanization and the trend towards compact living spaces.

The living room furniture segment in the market will exceed USD 41.8 billion by 2032 due to its adaptability and pivotal role in home life.

North America modular furniture industry is likely to surpass USD 43.6 billion by 2032 owing to a combination of evolving consumer preferences and lifestyle trends.

Bene AG, Flexsteel Industries, Inc., Haworth, Inc., Hay A/S, Herman Miller, Inc., HNI Corporation, and IKEA Systems B.V., among others.

Modular Furniture Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 49
  • Countries covered: 22
  • Pages: 210
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