Office Furniture Market size is set to grow by USD 28.60 billion from 2024-2028, Increase in number of office spaces worldwide boost the market, Technavio

NEW YORK, June 5, 2024 /PRNewswire/ -- The global office furniture market size is estimated to grow by USD 28.60 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.15%  during the forecast period. 

For comprehensive forecast and historic data on regions, market segments, customer landscape, and companies- Click for the snapshot of this report

Market Driver

The global office furniture market is experiencing growth due to the increasing demand for multifunctional, smart furniture. This trend is driven by the rising real estate prices and high commercial office leasing costs. Consumers' evolving preferences have led manufacturers to produce customized, standardized products, available through both online and offline channels. The number of startups and the demand for portable, compact smart furniture are also significant factors.

Employers prefer office furniture that enhances employee efficiency, comfort, and functionality. Wireless, adaptable furniture and ergonomic chairs cater to individual needs, while standing desks promote physical activity. The market's high availability of smart office furniture is expected to attract customers and boost sales during the forecast period. 

The office furniture market continues to evolve with new trends emerging. Comfort is a key consideration, with chairs and desks being designed to promote better posture and reduce strain. Zones and corners are being utilized for specific functions, such as collaboration areas and private offices. Modernization is a trend, with offices opting for sleek, contemporary designs. Tables are becoming more versatile, with adjustable heights and surfaces.

Technology integration is also important, with furniture featuring built-in charging stations and wireless connectivity. Desks and chairs are being made from sustainable materials, such as wood and recycled plastics. The use of natural light and open spaces is also becoming more popular. Overall, the office furniture market is focused on creating functional, comfortable, and stylish workspaces. 

Market Challenges

• The global office furniture market is currently facing significant challenges due to rising raw material costs and transportation expenses. Increases in the price of wood, steel, textiles, plastics, cartons, chipboard, timber, foam, polish chemical materials, color paints, and hardware have negatively impacted profitability.
• Transportation costs, which account for a significant portion of the supply chain, have also risen due to fuel expenses and taxes. These factors collectively hinder market growth by increasing product prices and reducing consumer purchasing power.
• The office furniture market faces several challenges in the current business environment. Tables, chairs, desks, and cabinets are essential components of any workplace. However, keeping up with changing technology and employee preferences can be difficult. Comfort is a key consideration in office furniture. Desks and chairs should be adjustable to accommodate different body types and working styles. Technology integration is another challenge. Tables with built-in power outlets and wireless charging pads are becoming increasingly popular.
• Sustainability is also a concern. Consumers want eco-friendly and durable office furniture. Cost is another challenge. Companies must balance the need for affordable furniture with the desire for high-quality and functional pieces. Consumers also expect fast and convenient delivery options. Overall, the office furniture market requires a balance of functionality, comfort, technology, sustainability, and affordability to meet the needs of modern businesses.

Research report provides comprehensive data on impact of trend, driver and challenges - Request a sample report!

Segment Overview 

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. End-user 
• 2.1 Commercial office furniture
• 2.2 Home office furniture
3. Product 
• 3.1 Seating
• 3.2 Systems
• 3.3 Tables
• 3.4 Storage units and files
• 3.5 Overhead bins
4. Geography 
• 4.1 APAC
• 4.2 North America
• 4.3 Europe
• 4.4 South America
• 4.5 Middle East and Africa

1.1 Offline-  In the Office Furniture Market, businesses invest in high-quality furniture to enhance productivity and create a professional work environment. Furniture options include desks, chairs, filing cabinets, and partitions. These essentials promote organization, comfort, and functionality in the workplace. Companies prioritize ergonomic designs to reduce employee discomfort and increase focus. Additionally, sustainable and eco-friendly furniture choices are gaining popularity due to their long-term cost savings and commitment to the environment.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report

Research Analysis

The Office Furniture Market encompasses a wide range of products, including tables and chairs, desks, filing cabinets, lounge furniture, and computer desks. These pieces are essential for creating functional and productive work environments in various commercial spaces, such as hospitals, schools, gymnasiums, and remote working settings.

The latest trends in office furniture reflect a shift towards interactive environments, incorporating sensors and advanced technologies to enhance consumer behaviour and comfort. Elegant designs in glass, plastic, PVC, polypropylene, and other materials are popular choices for residences and offices alike. Overall, the office furniture market caters to the diverse needs of businesses and individuals, offering solutions for creating efficient and comfortable workspaces.

The Office Furniture Market encompasses a wide range of products designed to enhance productivity and create functional workspaces. These include tables, chairs, cabinets, shelves, desks, and various other accessories. The market caters to diverse sectors such as corporate offices, educational institutions, healthcare facilities, and residential spaces.

Technological advancements have led to the emergence of smart office furniture, featuring adjustable heights, modular designs, and integrated technology. Sustainability is a significant trend in the market, with eco-friendly materials and energy-efficient solutions gaining popularity. The market is expected to grow steadily due to increasing demand for flexible workspaces and the need for ergonomic and efficient office solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• End-user
• Commercial Office Furniture
• Home Office Furniture
• Product
• Seating
• Systems
• Tables
• Storage Units And Files
• Overhead Bins
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED