Office Furniture Market Outlook
Market Overview
According to Goldstein Research, world Office Furniture Market is expected to reach USD 96.2 billion by 2024 from USD 61.2 billion in 2016, growing at a compounded annual growth rate of 5.8% over the forecast period 2016-2024. The rise of commercial space majorly in the developing countries on account of the economic development is driving the growth of global office furniture market. Global office furniture market segmentation has been carried out on the basis of material used, products, distribution channel, and region. Based on products, office chairs segmented accounted for 13.9% market share. The lengthening working hours in the office is augmenting the demand for chairs ranging from swivel chairs to ergonomic chairs. Global office furniture market is majorly driven by North America with a market share of 33.21% in 2016. North America office furniture market is growing on the back of a large number of the working population and increasing office space in the region. Further, Asia Pacific office furniture market is expected to grow by 41.0% annual growth rate during 2016-2024.
Browse Full Report: Office Furniture Market
Current Office Furniture Design Trends
Technology Integration: Integrating technology into office furniture designs that basically include screens for presentations, wireless charging ports, video conferencing capabilities, data sharing, smart boards, and similar conveniences.
Branded Workplace: This design conception is basically based on the idea that businesses have a story to tell, and the way of constructing business spaces or facilities that can help office furniture clients to share that story to inspire their employees or the community.
Collaborative Meeting Spaces: A design concepts driven by millennial employees who tend to move away from their desks and desire to unite in communal areas for brainstorming sittings or for less formal meetings. They prefer furniture and office design that inspires collaboration, learning and strong culture.
Market Segmentation
On the basis of our in-depth analysis, Global Office Furniture Market can be segmented as follows:
By Material Used
- Wood
- Metal
- Plastics
- Others (glass, leather, steel and more)
By Products
- Office Chairs
- Office Tables
- Storage cabinets
- Office furnishing
By Distribution Channel
- Online Channel
- Offline Channel
By Region
- North America Office Furniture Market {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
- Europe Office Furniture Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- The Middle East and Africa Office Furniture Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Latin America Office Furniture Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Asia Pacific Office Furniture Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
“Global Office Furniture Market Outlook 2024” contains a detailed overview of the global office furniture market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by the material used, products and distribution channel.
Further, for the in-depth analysis, Global Office Furniture Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as IKEA, Herman Miller, Godrej and Boyce, Kokuyo, Okamura, Steelcase, Berco furniture solution, Creative wood, Stellar Global Furniture, Kimball International, Meridian Office group, Technion, Wipro Furniture, Sedus, Kinnarps, HOF Furniture,etc.
The company profiles show the business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments. Overall, the report represents the global office furniture market trends along with the market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities.
Key questions answered in this Global Office Furniture Market Report
- The Global Office Furniture Market Size by 2024.
- The total revenue Of Global Office Furniture Market per segment and region in 2015-16.
- The Office Furniture Market trends.
- The factors which are driving Global Office Furniture Market.
- The major barriers to office furniture industry growth.
- The key vendors in this industry space.
- The industry opportunities for the existing and entry-level players.
- The recent developments and business strategy of the key players.
Browse Similar Report Published By Goldstein Research
US Home Furnishing & Soft Goods Market
North America Home Decor Market
Asia-Pacific Home Décor Market
Global Outdoor Furniture and Accessories Market