About Lounge Furniture
A lounge is a space where you can sit, wait, and relax in a public setting such as a hotel, airport, or club. A lounge is an area off the lobby at a hotel where customers can go to relax, listen to music, and sip a drink. Essentially Furniture that is used in a lounge room is called lounge furniture. These mostly contain sofas and different types of chairs and the purpose of these is just to relax for a short while. The market for these is increasing with the incidents of growing urbanization and rapid urbanization. Also, an increase in the number of airports hotels, etc is influencing the market growth. These chairs and sofas are highly comfortable and much more expensive than normal furniture. These are also used in the gaming lounge rooms in urban areas. With the gaming and streaming industry growing, the demand for these types of furniture is also increasing.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Lounge Furniture market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IKEA (Sweden), Crate & Barrel (United States), Wooden Street (India), HomeLane (India), West Elm (United States), Godrej Interio (India), Pottery Barn (United States), Ethan Allen (United States) and Urban Outfitters (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Expand Furniture (Canada), Apt 2B (United States), Resource Furniture (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Lounge Furniture market by Type (Sofas, Sleeper Sofas, Accent Chairs, Loveseats, Chairs-and-a-half and Recliner), Application (Commercial and Household) and Region.
On the basis of geography, the market of Lounge Furniture has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Lounge Furniture market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Plastic will boost the Lounge Furniture market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Smart Recliners and Chairs
Market Growth Drivers:
Increase in Number or Airport and Hotels With Lounges, Increase in the Demand by Gamers and Streamers and Growing Urbanisation and Changing Lifestyles
Restraints:
High Cost of Products
Opportunities:
Growing E-commerce, Hence Easy Availability and Growing Demand of Multi-Functional Furniture
Market Leaders and their expansionary development strategies
In January 2024, Flokk has signed an agreement to acquire US-based Stylex, further strengthening its position in the US market based on its long-term acquisition strategy.
In May 2023, luxury furniture brand Durian announced the launch of their Surat store on 16th of May, 2023. This is the first store in Surat and the 5th store opened by the brand in the state of Gujarat. This store is located at Surat-Dumas main road and is well-connected to the city.
Key Target Audience
Manufacturers of Furniture, Suppliers of Furniture, Wholesalers, Distributors and Retailers of Furniture, Raw Material Providers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.