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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 2024 and 2028. The accelerated growth of the market is driven by various factors, including increasing online spending and smartphone penetration, growth in the global real estate industry, and the evolving concept of home and living. The surge in online spending is fueled by the widespread use of smartphones, making shopping more accessible and convenient. Additionally, the global real estate industry's expansion is boosting demand for home-related products and services. As people redefine their living spaces, there is a growing trend towards personalized and innovative home solutions. These factors collectively contribute to the market's rapid expansion, highlighting the dynamic changes in consumer behavior and the evolving nature of home and living environments. The report provides market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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The market is experiencing significant growth as ecommerce store owners continue to capitalize on trends such as customization and personalization. Augmented reality and artificial intelligence technologies enable customers to visualize stylish house furnishings in their homes before making a purchase. Digital marketing strategies, including promotional campaigns, discounts, and coupons, are also driving sales. Home decoration and renovation trends favor sustainable materials, such as rattan and bamboo, and recycled textiles. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing online spending and smartphone penetration is the key factor driving the market. The market has experienced significant growth due to the rise in internet usage and the popularity of e-commerce and dropshipping. Consumers can now easily shop for home furnishings through ecommerce stores on smart devices, such as tablets, which offer larger interfaces and facilitate decision-making. Websites provide detailed product information, including quality, safety measures, and user guidance, increasing demand for e-retailing. Technology, such as augmented reality and artificial intelligence, enhances the online shopping experience with 3D visualization tools and personalized recommendations.
Digital marketing strategies are increasingly targeting consumers seeking stylish house furnishings and home decorations, spanning items like sofas, stools, chairs, and more for various living spaces such as halls, dining rooms, offices, and upholstery shops. The shift towards remote work has notably boosted demand for functional furniture like work tables, alongside a preference for sustainable materials such as rattan, bamboo, and recycled textiles, which are formaldehyde-free. Consumers are utilizing search engines to explore sustainable furnishings and interior design trends, emphasizing elements like anchoring points, cubicles, and greenery for home renovations. This evolving landscape underscores the growing influence of the online home decor market, where e-commerce platforms play a pivotal role in meeting consumer preferences and facilitating convenient shopping experiences aligned with contemporary lifestyle needs.
Mobile commerce and network marketing is the primary trend shaping the market. The market has experienced significant growth due to the rise in home furnishings purchases through mobile devices. Ecommerce store owners have responded by launching mobile applications and optimizing their websites for mobile shopping. Consumers are increasingly using their smartphones to buy sofas, stools, chairs, and other home decorations for their living spaces. Technology plays a crucial role in this trend, with augmented reality and artificial intelligence enabling customization and personalization. Digital marketing strategies have also been instrumental in reaching consumers.
Moreover, sustainable materials, such as rattan and bamboo, and recycled textiles are popular choices for those seeking eco-friendly options. Formaldehyde-based items, which can cause skin irritation, are being replaced with sustainable alternatives. Online stores offer a wide range of stylish house furnishings, including sectional sofas, work tables, and upholstery shops catering to remote working trends. Search engines help consumers find sustainable furnishings and interior designs while anchoring points and cubicles are popular for home offices and renovation projects. Planting is also a growing trend in home decoration.
The longer replacement cycle of products is the major challenge that affects the market growth. Online shopping for furnishings has become increasingly popular due to the trending interior designs and the durability of home furnishings. Ecommerce store owners offer dropshipping services for stylish house furnishings, including sofas, stools, and chairs for living spaces and dining rooms. Customization and personalization are key features, with technology such as augmented reality and artificial intelligence enabling 3D visualization tools for consumers.
Additionally, digital marketing strategies target those seeking sustainable materials, such as rattan, bamboo, and recycled textiles, for their living spaces. Renovation trends include remote working spaces with work tables and upholstery shops catering to the demand for formaldehyde-free items due to skin irritation concerns. Consumers prioritize sustainable effects in their interior designs, using anchoring points like cubicles and planting to create cohesive living spaces.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. The market report focuses on adoption rates in different regions based on penetration. Furthermore, the market forecast 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.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market 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.
Sustainable furniture is becoming increasingly popular, aligning with consumers' preferences for eco-friendly products. In the gaming industry, PC gaming trends are influencing the demand for gaming tables. Sectional sofas, stools, and chairs are popular choices for both home and office settings. Formaldehyde-based items are being replaced by healthier alternatives to ensure a safer living and working environment. 3D visualization tools allow customers to explore various interior designs and make informed decisions. Online shopping for furniture offers convenience and accessibility, making it a preferred choice for many consumers.
The online residential furniture segment is estimated to witness significant growth during the forecast period. The market encompasses home furnishings purchased through ecommerce channels, dropshipping, and digital stores. Furnishings types include sofas, stools, chairs for halls, dining rooms, and offices. Customization and personalization are key trends, with technology such as augmented reality and artificial intelligence enabling 3D visualization tools. Consumers seek stylish house furnishings and home decoration, driven by renovation trends.
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The online residential furniture segment was the largest segment and was valued at USD 42.80 billion in 2018. Living space essentials like sectional sofas, work tables, and upholstery shops cater to remote working needs. Sustainable materials like rattan, bamboo, and recycled textiles are gaining popularity due to health concerns from formaldehyde-based items and skin irritation. Consumers search for sustainable furniture and interior designs, anchoring points, and cubicles, as well as planting options. Online stores offer a wide range of furnishings types and styles to meet diverse consumer preferences.
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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 market during the forecast period. The expansion of the real estate sector, particularly for residential and commercial properties, fuels this growth. With the world's largest populations in China and India, urbanization is driving the demand for real estate, thereby increasing the need for online furniture. Moreover, factors such as rising internet penetration, growing disposable income, digitalization, and developing economies are encouraging consumers to purchase luxury furniture in the region.
Additionally, gardening enthusiasts in APAC show interest in patio tables and garden chairs. PC gaming trends influence the demand for gaming tables. Prominent retailers implement consistent strategies through promotional campaigns, discounts, and coupons offerings to attract the middle class population towards luxurious products. Raw material prices, customs, and import regulations impact the Wood, Metal, Plastic, Glass segments in the Indoor and Outdoor segments of the Residential, Office, Hotel, Educational institutes, Public gardens, and Theaters markets.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market, the furniture industry has seen significant growth in the digital age, with online platforms becoming a popular choice for consumers. Online furniture shopping offers convenience, a wide range of options, and competitive pricing. Home, decor, and furniture are key categories driving the market. Consumers are increasingly opting for online furniture shopping due to its ease and accessibility. Companies like Onlinemart, Shopingtonight, and others are capitalizing on this trend. They offer various features such as 3D visualization, customization, and easy return policies to enhance the shopping experience. The shift towards online furniture shopping is a global phenomenon. In the US, for instance, the market is expected to grow at a steady pace.
Moreover, European markets, including Germany, France, and the UK, are also witnessing a surge in online furniture sales. Sofas, tables, chairs, and other home furnishings are popular categories in the market. Consumers are also looking for sustainable and eco-friendly options, leading to a rise in demand for green furniture. Marketing strategies, such as social media promotions, influencer collaborations, and personalized recommendations, are being employed to attract and retain customers. The future of marketing looks promising, with technological advancements and changing consumer preferences shaping the industry.
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, 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 report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
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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