The online furniture market share is set to post an incremental growth of USD 112.67 billion, accelerating at a CAGR of 16.79% during the forecast period. The increasing online spending and smartphone penetration is notably driving the market growth. Technavio's research report provides a detailed understanding of the market focusing on the latest trends, and drivers that are likely to impact growth. This analysis will enable business leaders to strategize and plan for the further growth of their business. Unlock Free Sample Analysis Report
The online furniture market is segmented by Application (Online residential furniture and Online commercial furniture) and Geography (APAC, North America, Europe, South America, and MEA).
The online furniture market size in the online-residential furniture segment will be significant during the forecast period. The rise in the real estate sector for both residential and commercial properties will facilitate market growth in APAC. 37% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for online furniture in APAC.
The online furniture market report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth.
The rise in online spending and smartphone penetration is one of the primary factors that will drive the growth of the online furniture market. Factors such as mobile commerce and network marketing are the major online furniture market trends that will positively impact the market value. However, the longer replacement cycle of products is one of the challenges impeding the market growth.
The market is fragmented due to the presence of several players. Ashcomm LLC, Bobs Discount Furniture LLC, Brilloca Ltd., Herman Miller Inc., Inter IKEA Holding BV, Kimball International Inc., LaZBoy Inc., Otto GmbH and Co. KG, Pepperfry Pvt. Ltd., Raymour and Flanigan Furniture and Mattresses, Reliance Retail Ltd., Steelcase Inc., Wayfair Inc., World Market, Ballard Designs Inc., Bassett Furniture Industries, Haverty Furniture Companies Inc., HNI Corp., Pier 1 Imports Inc., and Williams Sonoma Inc. are some of the major online furniture market vendors.
The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
The research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. Download the Free PDF Sample Report