Global Home Office Furniture Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
20 Jul, 2021
The home office furniture market consists of sales of office furniture products by entities (organizations, sole traders, or partnerships) that manufacture furniture for office space at home. These are utilized for various purposes, such as, for people working from home on office days, families working on house budgets, and by kids to do school projects. Home office furniture mainly involves products, such as couches, sofas, non-decorated kitchenware, tables, chairs, and drawers. These furniture products are commonly used in small business spaces, residential spaces by people.
Global Home Office Furniture Market Size And Drivers:
The global home office furniture market is expected to grow from $58.74 billion in 2020 to $64.08 billion in 2021 at a compound annual growth rate (CAGR) of 9.09%. The growth in the home office furniture market is mainly due to the space constraint in the developed and developing, shift towards homeworking, increasing preference for comfortable and effective home furniture, and rising home businesses. The market is expected to reach $81.45 billion in 2025 at a CAGR of 6.18%. The recent outbreak of the COVID-19 pandemic has led to a surge in demand for home office furniture with an increase in employees working from home.
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Trends In The Global Home Office Furniture Market
The launch of 3D modeling and other technological innovations in the furniture world is a key trend in the home office furniture market. According to Xarpie labs a variety of technologies such as 3D modeling, virtual reality, and augmented reality are being used in most of its processes beginning from planning and developing prototypes or products, right from the marketing, and to the end of the value chain that is sales. Integrating these technologies assures the special effect on how the furniture looks and also helps to develop digital inventories to understand customer requirements.
Global Home Office Furniture Market Segments:
The global home office furniture market is further segmented based on product, material, price, distribution channel and geography.
By Product: Seating, Storage Units, Desks And Tables, Others
By Material: Wood, Metal, Plastic, Others
By Price: Premium, Mid-range, Economic
By Distribution Channel: Flagship Stores, Specialty Stores, Online, Others
By Geography: The global home office furniture market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the home office furniture market in 2020.
Read More On The Report For The Global Home Office Furniture Market At:https://www.thebusinessresearchcompany.com/report/home-office-furniture-global-market-report
Home Office Furniture Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides home office furniture market overviews, analyzes and forecasts market size and growth for the global home office furniture market, home office furniture market share, home office furniture market players, home office furniture market segments and geographies, home office furniture market’s leading competitors’ revenues, profiles and market shares. The home office furniture market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.