Market Definition: The E-Commerce Furniture Market size was valued at USD 27. 74 billion in 2021 and is predicted to reach USD 40. 74 billion by 2030 with a CAGR of 4. 4% from 2022-2030.
New York, June 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "E-Commerce Furniture Market by Type, by Product Type, by Material Type, by End Use, and by Price Range – Global Opportunity Analysis and Industry Forecast 2022-2030" - https://www.reportlinker.com/p06272294/?utm_source=GNW
Electronic commerce, also e-commerce, is a business platform that allows the companies and individuals to buy and sell goods & services over an electronic network, primarily the internet. Over the past few years, furniture has become one of the fastest-growing segments in overall retail e-commerce industry. Furniture e-commerce comprises the online marketplace, platform, or store that sells furniture and home goods.
Market Dynamics and Trends
The success of furniture e-commerce platforms is mainly attributed to the fact that the consumers are more inclined toward buying foldable, multi-purpose, and technology-driven furniture through e-commerce websites on account of heavy discounts, comfort, and trendy designs. The furniture sold on the e-commerce websites can come assembled, be partially assembled, or need assembly on arrival. These furniture’s can be larger items including couches, desks, and beds as well as the much smaller decorative items, such as throw pillows, light fixtures, and window treatments. The proliferation of online shopping, rise in penetration of smartphones, and growth of the real estate and hospitality industries across the globe are the major factors expected to fuel the growth of the global furniture e-commerce market.
However, import & export restrictions and sudden disruption in the supply chain are anticipated to restrain the market growth. On the other hand, rise in number of collaborations between the furniture manufacturers and e-commerce platforms to reach and attract more customers and generate new revenue streams. is projected to provide lucrative opportunities for the growth of the global furniture e-commerce market.
Market Segmentations and Scope of the Study
The global furniture e-commerce market is segmented based on type, product type, material type, end use, distribution channel, price range, and region. Based on type, the market is bifurcated into RTA and non-RTA. By product type, it is segmented into beds & mattresses, sofas & armchairs, entertainment units, storage units, tables & desks, and other furniture. Based on material type, the market is fragmented into plastic, wood, melamine, glass, steel, wrapped panels, finished foils, laminates, and lacquered panels. As per the end use, the market is categorized into residential and commercial. By price range, it is divided into high-end price furniture, medium-price range furniture, and low-price range furniture. The geography breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and ROW.
North America holds the lion share of e-commerce furniture market at present and is expected to continue dominating the market during the forecast period. This is attributed to factors such as increasing usage of designer furniture embedded with new textures along with high spending capacity and rise in real estate sectors. Also, increasing demand for premium and luxury furniture due to growth in disposable income of populations and government investments for infrastructural development is fueling growth of the e-commerce furniture market in this region.
However, Asia Pacific is expected to show a steady rise in the e-commerce furniture market due to the rapidly growing investment in home decoration and home furniture in this region. Also, rising focus on the development of residential constructions and change in the lifestyle are expected to drive the e-commerce furniture market growth in this region during the forecasted period.
The e-commerce furniture market comprises of various players such as Ashley Furniture Industries, Inc., Bassett Furniture Industries Inc., Cymax Group Technologies Ltd., Inter Ikea Group, Kimball International, Inc., Godrej & Boyce Manufacturing Co., Ltd., Hooker Furnishings Corporation, Kohler Company, HNI Corp., Steelcase Inc., Home Depot, Inc., Herman Miller Inc., Sleep Number Corporation, Wayfair Inc. and La-Z-Boy Incorporated. The global furniture e-commerce industry key market players adopted various strategies such as product launch, product development, partnership, collaboration, and agreements to influence the market growth. For instance, in November 2020, Kimball International had announced that they have the intent to acquire a digitally enabled commercial furniture company named Poppin. The fast-growing company Poppin designs fresh and clever commercial furniture that are basically made to match as well as scale in today’s modern office.
KEY MARKET SEGMENTS
• Furniture Market- By Type
• Furniture market- By Product Type
o Beds and Mattresses
o Sofas and Armchairs
o Entertainment Units
o Storage Units
o Tables and Desks
o Other Furnitures
• Furniture market- By Material Type
o Wrapped Panels
o Finished Foils
o Lacquered Panels
• Furniture Market- By End Use
• Furniture market- By Price Range
o High End Price Furniture
o Medium Price Range Furniture
o Low Price Range Furniture
• Furniture Market- By Geography
o North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Remaining Countries
Read the full report: https://www.reportlinker.com/p06272294/?utm_source=GNW
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