Online Furniture Market by Application and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR40655
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The online furniture market share is expected to increase by USD 84.26 billion from 2019 to 2024, and the market’s growth momentum will decelerate at a CAGR of about 16%.

This online furniture market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by application (online residential furniture and online commercial furniture) and geography (APAC, North America, Europe, South America, and MEA). The online furniture market report also offers information on several market vendors, including Alibaba Group Holding Ltd., Amazon.com Inc., American Signature Inc., Ashley Furniture Industries Inc., eBay Inc., Herman Miller Inc., Inter IKEA Systems BV, Kimball International Inc., Steelcase Inc., and Steinhoff International Holdings NV. among others.

What will the Online Furniture Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Online Furniture Market Size for the Forecast Period and Other Important Statistics

 

Online Furniture Market: Key Drivers and Trends

The rise in online spending and smartphone penetration is notably driving the online furniture market growth, although factors such as a longer replacement cycle of products may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the online furniture industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Online Furniture Market Driver

One of the key factors driving growth in the online furniture market is the rise in online spending and smartphone penetration. Online shopping through smart devices has gained popularity over the years because of the high penetration of Internet services, improved economy, and upgradation of purchase and delivery options with the emergence of m-commerce. Security features for online payments, free delivery, improved online customer services, and customer-friendly designs of shopping websites are also contributing to the growth of the market. The increasing emphasis on mobile commerce is mainly driven by the purchase of millions of new phones and the creation of more opportunities for buyers to shop. Few of the major retailers, such as Amazon, Snapdeal, Flipkart, and Alibaba, have their own mobile applications. 

Online Furniture Market Trend

Mobile commerce and network marketing are key trends supporting the online furniture market share growth. The increase in mobile commerce is driven by consumers who are purchasing new phones and are creating more opportunities for buyers to shop through the mobile commerce platform. Some of the major retailers, such as Amazon.com, Flipkart, and Alibaba Group, have launched mobile applications in addition to their websites. With the increase in the popularity of shopping through mobile devices, sales through these devices are likely to grow. To take advantage of the rising popularity of shopping through mobile devices, most online retailers have launched mobile versions of their shopping portals. As consumers slowly become comfortable with electronic cash, the use of mobile wallets is expected to grow in the future.

Online Furniture Market Challenge

The longer replacement cycle of products is a major challenge for the online furniture market growth. Most residential indoor and outdoor furnishings, especially furniture, are meant for long-term use and generally do not require frequent replacement. Certain types of home furniture can be expensive and are one-time expenditures. Moreover, most branded home furniture and furnishing products are durable and of superior quality. Consumers only need to incur maintenance costs for these over the years, which are usually minimal. This reduces the need for the frequent purchase of furniture and furnishings, which acts as a major growth barrier for the market.

Parent Market Analysis

Technavio categorizes the global online furniture as a part of the global home furnishings market, within the global household durables industry. The parent market, global home furnishings market covers products and companies engaged in manufacturing/marketing of home furniture, home textiles, and floor coverings. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market in focus during the forecast period.

This online furniture market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Who are the Major Online Furniture Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Alibaba Group Holding Ltd.
  • Amazon.com Inc.
  • American Signature Inc.
  • Ashley Furniture Industries Inc.
  • eBay Inc.
  • Herman Miller Inc.
  • Inter IKEA Systems BV
  • Kimball International Inc.
  • Steelcase Inc.
  • Steinhoff International Holdings NV.

 

This statistical study of the online furniture market encompasses successful business strategies deployed by the key vendors. The online furniture market is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Steinhoff International Holdings NV – In November 2019, the company announced that it would sell Blue Group Hold Co. Ltd. to Alteri Investors
  • Amazon.com Inc. – In December 2019, the company entered into a partnership with Verizon Communications Inc. to offer 5G Edge Cloud Computing
  • Kimball International Inc. – In June 2019, the company entered into a partnership with CareATC Inc. to provide an Employee Health Center near their Jasper, IN, campus.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The online furniture market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Online Furniture Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the online furniture market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of home furnishings includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovations

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Online Furniture Market?

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76% of the market’s growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for online furniture in APAC. Rapid urbanization in these countries stimulates consumer spending in large cities, where a growing middle class boosts the demand for housing and home furnishings. The country's real estate sector is also gradually stabilizing. The expanding urban population base is leading to rising dual-earning households, which is a major growth driver for the market in these countries.

A rise in the real estate sector for both residential and commercial properties will facilitate the online furniture market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Online Furniture Market?

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The online furniture market share growth by the online residential furniture segment will be significant during the forecast period. The living room and bedroom segments contributed the highest revenue to the online residential furniture segment. The demand for modular kitchens is the primary factor driving the growth of this market. In addition, trends like the construction of prayer rooms, gymnasiums, children's playrooms, and study rooms in modern houses will drive the demand in this market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the online furniture market size and actionable market insights on post COVID-19 impact on each segment.

 

Online Furniture Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Decelerate at a CAGR of 16%

Market growth 2020-2024

$ 84.26 billion

Market structure

Concentrated

YoY growth (%)

18.99

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 76%

Key consumer countries

China, US, Japan, South Korea (Republic of Korea), and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Companies profiled

Alibaba Group Holding Ltd., Amazon.com Inc., American Signature Inc., Ashley Furniture Industries Inc., eBay Inc., Herman Miller Inc., Inter IKEA Systems BV, Kimball International Inc., Steelcase Inc., and Steinhoff International Holdings NV

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Online Furniture Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive online furniture market growth during the next five years
  • Precise estimation of the online furniture market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the online furniture industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of online furniture market vendors

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1. Executive Summary                                           

2. Market Landscape                                             

                2.1 Market ecosystem                             

                                2.1.1    Parent market  

3. Market Sizing                                       

                3.1     Market definition                            

Exhibit 01:  Product / Service portfolio of key vendors included in the market definition

                3.2     Market segment analysis                             

                                Exhibit 02:  Market segments  

                3.3     Market size 2019                             

                                3.3.1    Factors affecting online furniture             

                                                3.3.1.1 New product launches

                                                3.3.1.2 Premiumization of furniture

                                                3.3.1.3 Strategic marketing initiatives

                3.4     Market outlook: Forecast for 2019 - 2024                              

                                Exhibit 03:  Global - Market size and forecast 2019 - 2024 ($ billion)       

                                3.4.1    Wood   

                                3.4.2    Metal   

                                3.4.3    Others 

                                                3.4.3.1 Wicker

                                                3.4.3.2 Plastic

                                                3.4.3.3 Steel

                                                3.4.3.4 Glass

                                                3.4.3.5 Stone

                                Exhibit 04:  Global market: Year-over-year growth 2019 - 2024 (%)         

4. Five Forces Analysis                                          

                4.1 Five Forces Summary                        

                                Exhibit 05: Five forces analysis 2019 & 2024       

                4.2 Bargaining power of buyers                           

                                Exhibit 06:  Bargaining power of buyers              

                4.3 Bargaining power of suppliers                       

                                Exhibit 07:  Bargaining power of suppliers          

                4.4 Threat of new entrants                    

                                Exhibit 08:  Threat of new entrants       

                4.5 Threat of substitutes                         

                                Exhibit 09:  Threat of substitutes           

                4.6 Threat of rivalry                   

                                Exhibit 10:  Threat of rivalry      

                4.7 Market condition                

                                Exhibit 11: Market condition - Five forces 2020

5. Market Segmentation by Application                                       

                5.1 Market segments               

                                Exhibit 12: Application Placement - Market share 2019 - 2024 (%)             

                5.2 Comparison by Application Type                  

                                Exhibit 13: ​Comparison by Application Placement          

                5.3 Online residential furniture- Market size and forecast 2019-2024                   

Exhibit 14:   Online residential furniture - Market size and forecast 2019-2024 ($ million)​                

Exhibit 15:    Online residential furniture - Year-over-year growth 2019-2024 (%)              

                5.4 Online Commercial Furniture - Market size and forecast 2019-2024                               

Exhibit 16: ​Online Commercial Furniture    - Market size and forecast 2019-2024 ($ million)​                

Exhibit 17: Online Commercial Furniture - Year-over-year growth 2019 - 2024 (%)             

                5.5 Market opportunity by Application                              

                                Exhibit 18: ​Market opportunity by Application 

6. Customer landscape                                         

                                Exhibit 19: ​Customer landscape​              

7. Geographic Landscape                                     

                7.1 Geographic segmentation               

                ​​The regions covered in the report are:              

  • APAC         
  • North America       
  • Europe      
  • South America       
  • MEA           

North America ranked first as the largest market globally, while MEA accounted for the smallest market share in 2020     

                                Exhibit 20: ​Market share by geography 2019 - 2024 (%)

                7.2 Geographic comparison                   

                                Exhibit 21: Geographic comparison       

                7.3 APAC - Market size and forecast 2019 - 2024                       

                                Exhibit 22: ​APAC- Market size and forecast 2019 - 2024 ($ million)​            

                                Exhibit 23:  APAC - Year-over-year growth 2019 - 2024 (%)            

                7.4 North America - Market size and forecast 2019 - 2024                         

                                Exhibit 24: ​ North America - Market size and forecast 2019 - 2024 ($ million)        

                                Exhibit 25: ​ North America - Year-over-year growth 2019 - 2024 (%)         

                7.5 Europe - Market size and forecast 2019 - 2024                     

                                Exhibit 26:  Europe - Market size and forecast 2019 - 2024 ($ million)​       

                                Exhibit 27: Europe- Year-over-year growth 2019 - 2024 (%)          

                7.6     South America - Market size and forecast 2019-2024                        

                                Exhibit 28:  South America - Market size and forecast 2019-2024 ($ billion)         

                                Exhibit 29:  South America - Year-over-year growth 2020-2024 (%)         

                7.7     Middle East and Africa - Market size and forecast 2019-2024                        

Exhibit 30:  Middle East and Africa - Market size and forecast 2019-2024 ($ billion)          

                                Exhibit 31:  Middle East and Africa - Year-over-year growth 2019 - 2024 (%)         

                7.8 Key leading countries                        

                                Exhibit 32: Key leading countries            

                7.9 Market opportunity by geography               

                                Exhibit 33: Market opportunity by geography ($ million)              

8. Drivers, Challenges, and Trends                                   

                8.1     Volume driver – Demand led growth                      

                                8.1.1    Rise in online spending and smartphone penetration      

                                8.1.2    Global mobile cellular subscriptions        

                                8.1.3    Growth in global real estate industry      

                                8.1.4    Evolving home and living concept            

                                8.1.5    Rising popularity of digital payment systems      

                8.2 Market challenges                              

                                8.2.1    Longer replacement cycle of products    

                                8.2.2    Stringent government regulations on e-retailers

                                8.2.3    Lack of the touch-and-feel element        

                                8.2.4    Ease in obtaining information from multiple sources       

                                Exhibit 34: Impact of drivers and challenges      

                8.3 Market trends                      

                                8.3.1    Mobile commerce and network marketing          

                                8.3.2    Surge in innovative product designs        

8.3.3    Digital marketing and social media campaigns for consumer engagement             

9. Vendor Landscape                                             

                9.1 Overview               

                                Exhibit 40: Vendor landscape  

                9.2 Landscape disruption                        

The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.             

                                Exhibit 41: ​Landscape disruption​            

                                Exhibit 42: Industry risks            

10. Vendor Analysis                               

                10.1 Vendors covered                              

                                Exhibit 43: Vendors covered    

                10.2 Market positioning of vendors                    

                                Exhibit 44: ​Market positioning of vendors​          

                10.3  Alibaba Group Holding Ltd.                         

                                Exhibit 39:  Alibaba Group Holding Ltd. - Overview        

                                Exhibit 40:  Alibaba Group Holding Ltd. - Business segments      

                                Exhibit 41:  Alibaba Group Holding Ltd. – Organizational developments

                                Exhibit 42:  Alibaba Group Holding Ltd. - Key offerings 

                                Exhibit 43:  Alibaba Group Holding Ltd. - Segment focus              

                10.4 Amazon.com Inc.

                                Exhibit 44:  Amazon.com Inc. - Overview            

                                Exhibit 45:  Amazon.com Inc. - Business segments         

                                Exhibit 46:  Amazon.com Inc. – Organizational developments   

                                Exhibit 47:  Amazon.com Inc. - Key offerings     

                                Exhibit 48:  Amazon.com Inc. - Segment focus 

                10.5  American Signature Inc.               

                                Exhibit 49:  American Signature Inc. - Overview

                                Exhibit 50:  American Signature Inc. - Product and service           

                                Exhibit 51:  American Signature Inc. - Key offerings        

                10.6  Ashley Furniture Industries Inc.                 

                                Exhibit 52:  Ashley Furniture Industries Inc. - Overview

                                Exhibit 53:  Ashley Furniture Industries Inc. - Product and service            

                                Exhibit 54:  Ashley Furniture Industries Inc. – Organizational developments       

                                Exhibit 55:  Ashley Furniture Industries Inc. - Key offerings         

                10.7  eBay Inc.             

                                Exhibit 56:  eBay Inc. - Overview            

                                Exhibit 57:  eBay Inc. - Business segments         

                                Exhibit 58:  eBay Inc. – Organizational developments   

                                Exhibit 59:  eBay Inc. - Key offerings     

                10.8  Herman Miller Inc.                          

                                Exhibit 60:  Herman Miller Inc. - Overview         

                                Exhibit 61:  Herman Miller Inc. - Business segments      

                                Exhibit 62:  Herman Miller Inc. – Organizational developments

                                Exhibit 63:  Herman Miller Inc. - Key offerings  

                                Exhibit 64:  Herman Miller Inc. - Segment focus

                10.9  Inter IKEA Systems BV                   

                                Exhibit 65:  Inter IKEA Systems BV - Overview  

                                Exhibit 66:  Inter IKEA Systems BV - Business segments

                                Exhibit 67:  Inter IKEA Systems BV - Key offerings           

                10.10 Kimball International Inc.                            

                                Exhibit 68:  Kimball International Inc. - Overview            

                                Exhibit 69:  Kimball International Inc. - Business segments         

                                Exhibit 70:  Kimball International Inc. – Organizational developments   

                                Exhibit 71:  Kimball International Inc. - Key offerings     

                10.11 Steelcase Inc.                  

                                Exhibit 72:  Steelcase Inc. - Overview   

                                Exhibit 73:  Steelcase Inc. - Business segments

                                Exhibit 74:  Steelcase Inc. – Organizational developments          

                                Exhibit 75:  Steelcase Inc. - Key offerings            

                                Exhibit 76:  Steelcase Inc. - Segment focus         

                10.12 Steinhoff International Holdings NV                       

                                Exhibit 77:  Steinhoff International Holdings NV - Overview       

                                Exhibit 78:  Steinhoff International Holdings NV - Business segments     

                                Exhibit 79:  Steinhoff International Holdings NV – Organizational developments

                                Exhibit 80:  Steinhoff International Holdings NV - Key offerings

                                Exhibit 81:  Steinhoff International Holdings NV - Segment focus             

11. Appendix                                            

                11.1 Scope of the report                         

                                11.1.1 ​​​​Market definition            

                                11.1.2 ​​​​Objectives          

                                11.1.3 ​​​​Notes and caveats           

                11.2 Currency conversion rates for US$                            

                                Exhibit 82: ​Currency conversion rates for US$​   

                11.3 Research Methodology                 

                                Exhibit 83: ​Research Methodology        

                                Exhibit 84: Validation techniques employed for market sizing​    

                                Exhibit 85: ​​Information sources              

                11.4 List of abbreviations                        

                                Exhibit 86: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The online furniture market growth will increase by $84.26 billion during 2019-2024.
The online furniture market is expected to grow at a CAGR of 15.98% during 2019-2024.
Technavio has segmented the online furniture market by application (Online residential furniture and Online commercial furniture) and geographic (APAC, North America, Europe, South America, and Middle East and Africa).
Alibaba Group Holding Ltd., Amazon.com Inc., American Signature Inc., Ashley Furniture Industries Inc., eBay Inc., Herman Miller Inc., Inter IKEA Systems BV, Kimball International Inc., Steelcase Inc., Steinhoff International Holdings NV are a few of the key vendors in the online furniture market.
APAC will register the highest growth rate of 76.31% among the other regions. Therefore, the online furniture market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • Japan
  • South Korea (Republic of Korea)
  • UK
The key factors driving the online furniture market growth are:
  • Rise in online spending and smartphone penetration
  • Mobile commerce and network marketing
The online furniture market vendors should focus on grabbing business opportunities from the online residential furniture segment as it accounted for the largest market share in the base year.
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