APAC to Witness Significant Growth in Work From Home Furniture Market until 2025
Increasing work from home
trend across corporate industry is expected to drive the growth of global work
from home furniture market
According
to TechSci Research report, “Global Work
From Home Furniture Market By Type (Study Table, Sofa, Pouffe, Bean Bag,
Ottoman, Recliner, Chair, Others), By Material (Wood, Plastic, Leather, Metal,
Others), By Distribution Channel (Exclusive Showrooms, Supermarkets/Hypermarkets,
Online and Other Furniture Retail Outlets), By Region, Forecast &
Opportunities, 2025”, the global work from home
furniture market is expected to grow at a steady rate during the forecast
period on account of the growing popularity of work from among the working
population, especially among the women. This helps them look after their family
& homes, while managing their work. This drastically increases the demand
for furniture that can help in carrying out work from home. Additionally,
benefits associated with work from home culture such as flexibility, no dress
code, no need to travel, among others, further encourages the adoption of work
from home, thereby increasing demand for work from home furniture. However,
internet connectivity and speed issues might hamper the market growth until
2025. Furthermore, lack of adoption of work from home culture, especially in
the emerging economies might further restrict the market growth.
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The global work from home furniture market is segmented based on type, material,
distribution channel, company and region. Based on type, the market can be categorized
into study table, sofa, pouffe, bean bag, ottoman, recliner, chair and others. Among
these, the recliner segment is expected to grow significantly on account of the
associated benefits such as improved comfort, option of alternative sitting
positions, protection from pressure sores and backpain, among others. Based on
material, the market can be grouped into wood, plastic, leather, metal and others.
Here, leather segment is expected to witness significant growth on account of
the growing demand for sofa, bean bag, recliner, ottoman, among others. Based
on distribution channel, the market can be fragmented into exclusive showrooms,
supermarkets/hypermarkets, online and other furniture retail outlets. Out of
these, the online segment is expected to witness significant growth in the
market until 2025 owing to the associated benefits such as doorstep delivery,
availability of discounts & a wide range of payment options, time saving,
availability of wide range of products, competitive pricing options, among
others.
Poltrona Frau, Herman Miller, Knoll, Inc., KOKUYO Furniture, Haworth
Inc., Inter IKEA Group, Ashley Furniture Industries, Sears Holdings, Masco
Corporation, Kimball International, Inc. and others are some of the leading
players operating in global work from home furniture market. The companies operating
in the market are using organic strategies such as product launches, mergers
and collaborations to boost their share.
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“Asia-Pacific
is expected to register significant growth in the work from home furniture market during the forecast
period, owing to the widespread adoption of work from home culture by different
corporates and SMEs across the region. Additionally, with the sudden outbreak
of COVID-19 across the world with Asian countries such as China, India,
Singapore, among others, being adversely impacted by the pandemic, the market
for work from home furniture is expected to witness significant growth. Moreover,
the companies operating in the region find work from home a viable long term
option for protecting their employees and maintaining the business also. This
in turn is expected to positively influence the market growth through 2025.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Global Work From Home Furniture Market By Type
(Study Table, Sofa, Pouffe, Bean Bag, Ottoman, Recliner, Chair, Others), By
Material (Wood, Plastic, Leather, Metal, Others), By Distribution Channel
(Exclusive Showrooms, Supermarkets/Hypermarkets, Online and Other Furniture
Retail Outlets), By Region, Forecast & Opportunities, 2025”,” has evaluated the future growth potential of global work
from home furniture market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in global work from
home furniture market.
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