The office furniture market share in the US is projected to post an incremental growth of USD 3.14 billion, accelerating at a CAGR of 4.07% during the forecast period. Technavio's research report provides detailed insights into growth drivers that are likely to boost the market. It also provides an analysis of all the segments, trends, and challenges that are expected to impact the market in focus. This analysis will equip business leaders with data and insights necessary for designing future-ready strategies for growth and development.
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One of the key factors that will drive growth is the surge in the number of start-ups. In addition, the emergence of online furniture stores is the major office furniture market trend in the US which will positively influence the market growth. However, the low replacement cycle of furniture may impede the market growth. Technavio's research report provides a comprehensive analysis of all the other factors that will boost growth during the forecast period.
The office furniture market in the US is segmented by product (seating, table, system, storage unit and file, and overhead bins), end-user (commercial and home office), distribution channel (offline and online), and material (wood, metal, and others).
The growth of the market by the seating segment will be significant during the forecast period. The office seating furniture market in the US includes ergonomic chair stools, swivel and stacking chairs, and benches. The growth of the segment is attributed to the factors such as the expansion of office spaces and the rise in the number of employees in the US.
Technavio's research report provides insights into the current market share of each segment along with growth projections for the next five years.
The market is fragmented due to the presence of several players, and the growth of the players depends on several factors such as market conditions, government support, and industry development. Market players must distinguish their product and service offerings through a clear and unique value proposition to prosper in this competitive market.
Affordable Interior Systems Inc., Ashley Furniture Industries Inc., Global Furniture Group, Haworth Inc., Herman Miller Inc., HNI Corp., Kimball International Inc., Knoll Inc., Okamura Corp., and Steelcase Inc. are some of the major office furniture market vendors in the US
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