Modular Sofas Market Scope
Modular sofas have seen a significant increase in popularity in recent years. A modular or sectional couch, which is made up of several moveable components known as sections or modules, provides owners with the maximum flexibility while maintaining the same degree of comfort and design as a traditional sofa. Offices are communal spaces where people interact geographically and socially and spend the majority of their time. Modular Sofa allows users to design their own unique piece of furniture in a variety of colours and patterns to suit their living space's shape and aesthetic. For flexibility, effective use of furniture, and simplicity of production-application processes, modularity and modular systems in interior spaces have been used in a variety of locations.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | USM Modular Furniture (Switzerland), HNI Corporation (United States), West Elm (United States), IKEA Systems B.V. (Netherlands), Herman Miller (United States), Steelcase (United States), Martela Oyj (Finland), TJX Companies, Inc. (United States), Williams-Sonoma, Inc. (United States) and Okamura Corporation (Japan) |
CAGR | 5.0% |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Research Analyst at AMA estimates that United States & Indian Vendors will contribute to the maximum growth of Global Modular Sofas market throughout the predicted period.
USM Modular Furniture (Switzerland), HNI Corporation (United States), West Elm (United States), IKEA Systems B.V. (Netherlands), Herman Miller (United States), Steelcase (United States), Martela Oyj (Finland), TJX Companies, Inc. (United States), Williams-Sonoma, Inc. (United States) and Okamura Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Modular Furniture Manufactures (India), Quama Furniture Group (Peru), Kimball International (United States), AFC Systems (India), Krishna Office Furniture Systems (India), KI (United States) and Yash Modular Furniture (India).
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 Modular Sofas market by Type , by Application (Household and Commercial) and Region with country level break-up.
On the basis of geography, the market of Modular Sofas 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).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
On 27th April, 2021 - Floyd Introduced Modular Sofa for the Future, Called “The Sectional”. The Sectional Is Upholstered in A Moisture-Repellent, Stain-Resistant, And Easy-To-Clean High-Performance Fabric That Includes No Harmful Chemicals. Spills Are Easily Blotted Thanks to Nano-Based Technology Woven Directly into The Yarn.
On 21st May, 2020 - Helix Sleep Launched “Allform” New Modular Sofa Brand. The New Allform Offers the Same High-Quality Design and Construction as Traditional High-End Couches Offered in Retail, But in A Completely Modular Design That Can Be Supplied Directly to Clients in A Box.
Influencing Trend:
High Rate of Migration to Urban Regions and Surge in Demand for Luxury Furniture at Budget Rates
Market Growth Drivers:
Increasing Urbanization and Adoption of Urban Life Style and Rising Number of Commercial Spaces
Challenges:
Fierce Competitive Pressure and Tariffs and Custom Duties
Restraints:
Raw Material Price Fluctuation and Durability Concerns
Opportunities:
Surge in Renovation Projects Across Regions
Key Target Audience
Modular Sofa Manufactures, New Entrants and Investors, Modular Sofa Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others