About Home Office Furnishings
Home office is the place in home where the individual can focus on tasks that need to be carried out. The furnishings include desks and computer desks, office chairs, cable management and accessories, work lamps, laptop tables, and lightings. These products are available in different styles, shapes and materials. The home office furniture provides various benefits such as improved productivity, and reduced health risks. Also, this furniture is used by small businesses and individuals who are working on their startups. These benefits are increasing the market growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.17% |
The global Home office furnishings market is witnessing rise in competitiveness among the players. In terms of market share, the major players are currently dominating. However, some of the companies are increasing the market presence by securing new contracts and tapping new markets. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Home Office Furnishings 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.
Ashley Furniture Industries (United States), IKEA (Netherlands), Sears Holdings (United States), Steelcase (United States), Haworth (United States), Herman Miller (United States), HNI (United States), Kimball International (United States), Knoll (United States) and Masco (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 Urban Ladder (India) and Hooker furniture (United States).
Segmentation Overview
AMA Research has segmented the market of Global Home Office Furnishings market by Type (Desks and computer desks, Office chairs, Drawer units, Bookcases, Cable management and accessories and Others) and Region.
On the basis of geography, the market of Home Office Furnishings 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 Price, the sub-segment i.e. Low will boost the Home Office Furnishings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Style, the sub-segment i.e. Modern and contemporary will boost the Home Office Furnishings 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. Wood will boost the Home Office Furnishings market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction of Multi-Functional Furniture which can be used for Other Purposes
Market Growth Drivers:
Increase in Number of Startups is Fueling the Market Growth and Rising Work from Home Concept is leading to Demand in Chair and Tables
Challenges:
Complexity in Supply Chain and Logistics and Long Replacement Cycle May Hamper the Market
Restraints:
Fluctuations in Prices of Raw Material Such as Wood, Metal, Plastic and Others
Opportunities:
Introduction of Favourable Policies by Governments to Boost the Startups, Increasing Spending by Consumer for Online Purchases Coupled with Growing E-Commerce and Lock down imposed due to corona virus is creating an opportunity for home office furnishings as the employees are moving to work from home model
Market Leaders and their expansionary development strategies
In August 2023, Systems Source Partners with MillerKnoll,Though not a new product launch itself, this distribution coup highlights new product focus. Systems Source, a major design firm, became the exclusive distributor for MillerKnoll furniture products, suggesting a potential shift towards a broader range of workplace and home office solutions from MillerKnoll
In April 2023, Swedish brand Abstracta is launching two pieces of furniture at Salone del Mobile, which feature in this Instagram Reel produced by Dezeen for the acoustic product manufacturer. Abstracta, which is best known for producing noise-regulating pieces for office, is exhibiting newly launched work pods by Swedish designer
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organizations 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.