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Market research analysts at Technavio predict that the global library furniture market in education industry will grow steadily at a CAGR of close to 11% by 2021. This market research analysis identifies the rise in demand for multifunctional seating and storage units as one of the primary growth factors for this market. The rising adoption of tablets and laptops by students in K-12 schools and higher education colleges has brought the trend of secure storage units in the libraries. Moreover, the libraries nowadays are not a place just for individual studies. K-12 school libraries have multimedia centers, enabling students to engage in collaborative learning with their faculties and guides. This, in turn, has introduced the trend of using multifunctional seating.
The increasing online sales of library furniture is one of the latest trends that will gain traction in the library furniture market in the education industry in the coming years. The rapid adoption of smartphones and digitization has enabled the school and higher education authorities to take appropriate decisions about the furniture they will prefer in their premises. Additionally, it has been noted that the specifications and essentials of the library furniture can be modified according to their requirements using the online platform of sales. Thus, the online sales of library furniture market in education industry are expected to drive the market.
The global library furniture market in education industry is driven by various competitors engaged in a healthy rivalry with each other. Manufacturers are focusing on keeping the students involved in learning by providing an interactive and student-friendly environment. Therefore, they conduct research and case studies to understand the requirements of students in a school or college library.
The leading vendors in the market are -
The other prominent vendors in the market include Knoll, Fleetwood Group, BRODART, Hertz Furniture, and MINNCOR Industries.
During 2016, the library shelves segment accounted for the major shares of this market. The need to store an extensive collection of content and varied assortment of courseware for students is met by the towering shelves /racks, thus attributing majorly to the library furniture market in education industry.
This market study estimates that in terms of geographic regions, North America will be the major revenue contributor to the market by 2021. The growth in this region can be attributed to the continuously increasing number of K-12 schools and rapidly evolving higher education universities. The rapid rise in the number of enrollments in these schools and colleges drive the growth of the library furniture market in the education industry.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market overview
PART 06: Geographical segmentation
PART 07: Market segmentation by product
PART 08: Market segmentation by end-user
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Other prominent vendors
PART 15: Appendix
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