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The online furniture market size is forecast to increase by USD 218.8 billion at a CAGR of 21.94% between 2023 and 2028. The market is undergoing substantial expansion due to various influential factors. Primarily, the rising preference for online shopping and the extensive adoption of smartphones have made it easier for consumers to buy furniture online. Mobile commerce and network marketing significantly contribute to the market's growth. The prolonged replacement cycle of furniture pieces guarantees a consistent customer base for e-retailers. Furthermore, the increasing preference for home improvement and interior design trends fuels the anticipated demand for furniture in the upcoming years. The market is poised for expansion, driven by consumers' desire for convenience, affordability, and the ability to browse and purchase an extensive range of products from the comfort of their homes. These elements are expected to propel the furniture market forward.
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The e-commerce sector is witnessing substantial expansion due to the rising preference for online shopping among consumers. In response, ecommerce store proprietors are seizing this opportunity by providing dropshipping services for stylish home furnishings and decorative items, eliminating the need for inventory maintenance. Customization and personalization are crucial selling points, with augmented reality and artificial intelligence technologies enabling customers to preview how furniture pieces would fit in their homes before making a purchase. Current home renovation trends, such as the use of sustainable materials and eco-friendly alternatives, are fueling the demand for rattan, bamboo, recycled textiles, and similar sustainable resources in furniture production. Popular product categories include sofas, stools, chairs, sectional sofas, work tables, and formaldehyde-free items.
Effective digital marketing strategies, such as promotional campaigns, discounts, and coupons, are instrumental in attracting potential customers. The growing popularity of luxury products, like high-end gaming tables for PC gaming enthusiasts, is another significant trend. The market is projected to persistently expand due to the convenience and customization options it offers.
The online furniture market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The online residential furniture segment is estimated to witness significant growth during the forecast period. Home furniture shopping has undergone a significant transformation, with e-commerce platforms enabling consumers to purchase a diverse selection of stylish home furniture through dropshipping models. Technology is a key driver in this sector, with augmented reality and artificial intelligence enabling customization and personalization of furniture. Consumers can now visualize their living spaces using 3D visualization tools, experimenting with various interior designs, renovation trends, and placement options for sofas, stools, chairs, and other home decorations. The furniture industry is adapting to the needs of remote workers, offering work tables, office cubicles, and upholstery shops work-from-home solutions.
Effective digital marketing strategies are crucial for online stores, ensuring they are visible in search engines for sustainable furniture options. Consumers are increasingly seeking eco-friendly alternatives to traditional furniture made with formaldehyde-based materials, opting instead for sustainable materials such as rattan, bamboo, and recycled textiles. This trend reflects a growing awareness of health and environmental concerns. Incorporating plants into home decor is another popular trend, adding a touch of natural beauty to living spaces. Sectional sofas, dining room sets, and workspaces are among the most popular furniture categories in demand. As consumers prioritize comfort and functionality, the furniture industry continues to innovate, providing a vast array of choices for homeowners and renters alike.
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The online residential furniture segment accounted for USD 42.80 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the online furniture market during the forecast period.
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The global furniture market is experiencing notable expansion due to the rising trends in gardening and the increasing preference for high-end products, such as glass, metal, and wooden furniture. The growing affluence of the middle class population is fueling the market's growth in this regard. Furthermore, the rise in popularity of PC gaming has resulted in a heightened demand for gaming tables. Prominent retailers' consistent application of promotional campaigns, discounts, and coupons is drawing in more customers. The wood segment holds a significant share in the indoor furniture market, while metal and plastic dominate the outdoor segment. Customs and import duties influence the pricing of raw materials, thereby impacting the market as a whole.
The residential sector represents the largest consumer of furniture, followed by the office, educational institutions, hotels, and public gardens. Theaters and other commercial spaces also contribute to the market's expansion. The outdoor furniture segment is poised for substantial growth due to the increasing appeal of patios and gardens in urban living spaces. Our research team examined the data with 2023 serving as the base year, and we identified the key drivers, trends, and challenges. A comprehensive evaluation of these factors will enable companies to fine-tune their marketing strategies to secure a competitive edge.
The online furniture market has experienced significant growth due to the increasing popularity of shopping online and the widespread availability of internet services. Consumers are now utilizing smart devices, such as tablets, for furniture purchases, as these devices offer larger interfaces and user-friendly experiences. E-commerce platforms provide comprehensive product information, empowering consumers to make informed decisions. Technology plays a crucial role in the online furniture industry, with the integration of augmented reality and artificial intelligence enhancing customization and personalization of home furnishings. These advanced technologies enable consumers to visualize how furniture will look in their homes before making a purchase, ensuring a satisfying shopping experience. The convenience and personalization offered by online furniture shopping have made it an attractive alternative to traditional brick-and-mortar stores.
Digital marketing strategies, including search engine optimization, have significantly boosted the visibility of online stores. Consumers now prefer stylish house furnishings made from sustainable materials, such as rattan, bamboo, and recycled textiles, which aligns with the latest renovation trends. The flexibility of online shopping allows consumers to purchase items like recliner sofas, stools, chairs, work tables, and office furniture from the comfort of their homes or while working remotely. However, concerns regarding formaldehyde-based items causing skin irritation have led consumers to seek out eco-friendly alternatives. Other popular home decoration trends, such as anchoring points, cubicles, and planting, can also be easily explored and purchased online. The convenience and accessibility of online shopping have made it a preferred choice for consumers in the furniture market.
Mobile commerce and network marketing are driving the trend in the growth of the online furniture market in the United States. The home furnishings industry's e-commerce sector has seen significant expansion, as more consumers opt for online shopping to purchase furniture for their homes. E-commerce retailers leverage dropshipping business models to offer a vast selection of stylish home furnishings, including sofas, stools, dining room chairs, living room sectionals, office work tables, and upholstered pieces for home offices. Technology plays a crucial role in this trend, enabling customization and personalization through augmented reality and artificial intelligence. Consumers can now visualize their living spaces using 3D visualization tools, experiment with interior designs, and even explore sustainable furniture options made from materials like rattan, bamboo, recycled textiles, and eco-friendly alternatives to formaldehyde-based products.
Effective digital marketing strategies, including search engine optimization and sustainable furniture trends, are essential for online furniture stores. Renovation trends have also fueled demand, as consumers seek anchoring points such as cubicles and planting areas for their homes, expanding the market for online furniture sales. By catering to the growing preference for eco-friendly home furnishings, e-commerce retailers offer a wide range of stylish and sustainable options.
Longer replacement cycle of products is a key challenge affecting online furniture market growth. The furniture industry is experiencing a significant shift towards online shopping, as consumers value the convenience and accessibility it provides. E-commerce and dropshipping businesses are responding to this trend by offering a variety of home furniture options to customers. Advanced technology, including augmented reality and artificial intelligence, is being utilized to create 3D visualization tools that enable consumers to virtually place furniture in their living spaces, ensuring a perfect fit before making a purchase.
In the realm of marketing, digitally focused strategies are being utilized to engage potential customers and present fashionable home furnishings and decor concepts. Current interior design trends favor sustainable materials, such as rattan and bamboo, along with recycled textiles, which are increasingly preferred by consumers. There is a heightened consciousness regarding the potential health hazards linked to formaldehyde-based products, resulting in a surge in demand for eco-friendly alternatives. Online retailers offer an extensive range of furniture options for various spaces, including sofas, stools, dining room chairs, office sectionals, and work tables for home offices. Moreover, popular interior design elements, such as anchoring points, cubicles, and greenery, are being integrated into furniture designs. The furniture industry is evolving to cater to the shifting demands and preferences of consumers.
The online furniture market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the online furniture market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ashley Global Retail LLC - The company provides an extensive selection of online offerings, including bedroom furniture and living room furnishings. The digital marketplace caters to the modern consumer's preference for convenience and ease, allowing you to browse and purchase high-quality pieces that enhance the aesthetic and functionality of your living spaces.
The online furniture market trends and forecasting report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The home furniture market is experiencing significant growth as online shopping becomes increasingly popular among consumers. E-commerce merchants are capitalizing on this trend by offering an extensive selection of home furniture options for customers. Innovation is a key driver in this industry, with dropshipping models and advanced technology such as customization and personalization through augmented reality and artificial intelligence. These features allow consumers to preview fashionable home furnishings in their living spaces before making a purchase, providing a more engaging and personalized shopping experience. Digital marketing plays a crucial role in connecting with potential buyers. Consumers can now browse and buy sofas, stools, chairs, and other home decorations for their foyers, dining rooms, offices, and beyond, all from the comfort of their homes.
The market is also adapting to the latest home renovation trends, with eco-friendly materials like rattan, bamboo, recycled textiles, and upholstery shops gaining popularity among health-conscious and environmentally aware consumers. Technology continues to revolutionize the furniture industry, with 3D visualization tools and digital interior designs providing more accurate measurements and anchoring points for cubicles and sectional sofas. The market is also addressing health concerns by offering a broader selection of sustainable furniture options, including those free from formaldehyde and irritating materials. The shift to remote work has fueled a rise in demand for work tables and ergonomic chairs, making online stores the preferred destination for consumers seeking stylish and functional furniture to enhance their living and work spaces.
Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 21.94% |
Market growth 2024-2028 |
USD 218.8 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
17.67 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 36% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ashley Global Retail LLC, Amazon.com Inc., Bassett Furniture Industries Inc., Bobs Discount Furniture LLC, Flipkart Internet Pvt. Ltd., Haverty Furniture Companies Inc., Hindware Home Innovation Ltd., HNI Corp., HSN Inc., Inter IKEA Holding B.V., LaZBoy Inc., MillerKnoll Inc., Otto GmbH and Co. KG, Pepperfry Pvt. Ltd., Pier 1 Imports Online Inc., Raymour and Flanigan Furniture and Mattresses, Reliance Industries Ltd., Steelcase Inc., Wayfair Inc., and Williams Sonoma Inc. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our online furniture market forecast report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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