Online Household Furniture Market Scope
Online household furniture includes online selling of furniture and decoration design. These are the objects such as table chair sofa, bed, dining table and others. They are made of wood, metal, fibre or plastic. The smart furniture are available which can be adjusted according to the need of the customer and easy to move. Furthermore, the manufacturers are offering the aesthetic furniture made with bamboo which is stronger than most of the woods.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Largest Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | CORT (United States), Wayfair (United States), Masco (United States), Inter IKEA Systems B.V. (Netherlands), John Boos (United States), MasterBrand Cabinets (United States), Kimball (United States), La-Z-Boy Incorporated (United States), FurnitureDealer (United States), Steelcase (United States), Amazon (United States), Flipkart Private Limited (India), The Home Depot, Inc. (United States), Ashley Global Retail, LLC (United States), Overstock Outlet (United States), Godrej & Boyce Mfg. Co. Ltd. (India), Ethan Allen Global, Inc. (United States), Walmart Inc. (United States) and Better Bed B.V. (Netherlands) |
CAGR | 14.77% |
"According to AMA, the Global Online Household Furniture market is expected to see growth rate of 14.77% and may see market size of USD238365.38 Million by 2028."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.The Vendors having a strong hold in the market are Wayfair Ikea Walmart Inc. Amazon Ashley Furniture Industries, Inc.. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Online Household Furniture market throughout the predicted period.
CORT (United States), Wayfair (United States), Masco (United States), Inter IKEA Systems B.V. (Netherlands), John Boos (United States), MasterBrand Cabinets (United States), Kimball (United States), La-Z-Boy Incorporated (United States), FurnitureDealer (United States), Steelcase (United States), Amazon (United States), Flipkart Private Limited (India), The Home Depot, Inc. (United States), Ashley Global Retail, LLC (United States), Overstock Outlet (United States), Godrej & Boyce Mfg. Co. Ltd. (India), Ethan Allen Global, Inc. (United States), Walmart Inc. (United States) and Better Bed B.V. (Netherlands) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Rooms to Go (United States), Roche Bobois (France), SICIS (Japan) and Armstrong Cabinets (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Online Household Furniture market by Type , by Application (Bedroom, Living Room, Kitchen, Outdoor Spaces, Home Office and Others) and Region with country level break-up. On the basis of Type, Cupboards are dominating the market in the year 2022
On the basis of geography, the market of Online Household Furniture has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Southeast Asia, 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). Asia Pacific region held largest market share in the year 2022. North America on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In March 2020, Ashley Furniture Homestore Opens New Store In Gachibowli, India. Ashley Furniture HomeStore celebrated the grand opening and ribbon cutting of its new 6,000 sq. ft. showroom in Gachibowli Hyderabad, Telangana, India. Special guests, including members of Parliament and Iiid Architects, joined the Ashley Furniture HomeStore Licensee and employees at the event.
In November 2020, Reliance Industries (RIL) acquired online furniture retailer Urban Ladder Home Decor Solutions for Rs 182 crore. The acquisition enables Reliance Industries to expand itself in new commerce initiatives and offer consumer products provided by Urban Ladder.
Influencing Trend:
Penetration of Technology in Furniture Manufacturing, Changing Consumer Lifestyle & Rising Internet Penetration and Demand for Theme Based Home Decor
Market Growth Drivers:
Increasing Single-Person Households Across World, Rising Sales of Furniture Owing to Increasing Number of Residential Construction and Growing E-Commerce Industry
Challenges:
Limited Availability of Raw Materials Such as Wood
Restraints:
Fluctuation in Price of Raw Materials and Rising Furniture Renting As A Trend
Opportunities:
Growing Demand in Asia Pacific Region Due to Increasing Disposable Income and Rising Urbanisation and Initiatives by Government on Housing Projects
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations