Latest News- Recliner Sofas Market: Offline is expected to lead the Distribution Channel segment during 2024-2028

The Recliner Sofas Market is being driven by Evolving product ergonomics in terms of style, utility, and features

The Recliner Sofas Market is expected to grow at a CAGR of 7.04% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 8478.8 million. The recliner sofas market is witnessing significant advancements in visual technology, with Augmented Reality (AR) emerging as a key trend. IKEA, a leading market player, is embracing this trend by launching AR apps for Android platforms, allowing customers to visualize recliner sofas and other furniture items in their homes prior to purchase. This technology enhances the buying experience by providing a more accurate representation of the product in the customer's environment. Other companies are also following suit, offering Virtual Reality (VR) apps to facilitate informed purchasing decisions. The integration of AR and VR in the furniture industry is set to revolutionize the selling process, offering customers a more immersive and interactive shopping experience. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Offline
  • Online
• End-user
  • Residential
  • Commercial
• Geography
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
  • APAC
    • China
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Evolving product ergonomics in terms of style, utility, and features
• Growth in e-commerce industry
• Rising demand for power recliner sofas

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in raw material prices
• Growth in furniture rentals
• Growing demand for pre-owned recliner furniture

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Market Scope in Recliner Sofas Market Research Report

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Research Analysis Overview

The recliner sofas market encompasses a wide range of home furnishing products, including rear and side reclining stools, recliner chairs, and couches. These premium and luxury products are increasingly popular in both residential and commercial settings, including real estate offices, clubs, spas, and commercial construction projects. The market is driven by various factors, such as the ageing population's need for added comfort and support, as well as the growing trend towards home comfort and relaxation. Key features of recliner sofas include adjustable backrests and footrests, lumbar support, headrests, and levers for easy operation. Some high-end models even offer vibration and heat massage functions for added comfort. In recent years, the market has seen a shift towards online platforms for sales and purchases, making it easier for dwellers to browse and buy their preferred seating arrangements, from armchairs to full-sized recliner sofas. Overall, the recliner sofas market is expected to continue growing, catering to the increasing demand for comfortable and supportive seating solutions.

Market Research Overview

The global home furnishings market encompasses businesses involved in the manufacturing and marketing of furniture, home decor, floor coverings, and appliances. According to Technavio's market analysis, the home furnishings industry size is determined by the consolidated revenue generated by manufacturers and marketers of consumer electronics, furniture, decorative items, household appliances, and other homeware products. Factors fueling the expansion of this market include the surge in residential and commercial construction projects, resulting in heightened demand for new furniture and home furnishings. Furthermore, the increasing number of renovation projects in major economies such as the United States, China, and India is also contributing significantly to market growth. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/