Office Furniture Market to Witness Robust Expansion by 2028
The global office furniture market is anticipated to grow at a considerable CAGR of 4.9{6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827} during the forecast period. The growth of the office furniture market is primarily attributed to the increasing demand for office furniture to create a supportive workplace owing to the growing business activities across sectors and the development of commercial workplaces. Based on data from the US Census Bureau’s Business Formation Statistics, nearly 5.4 million applications were filed to form new businesses in 2021. There were roughly 1.9 million more business applications in 2021, a 53{6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827} increase from 2019. The top five most significant percentage increases were in transportation and warehousing; retail trade; accommodation and food services; administrative and support; and other services (a general category including activities such as personal care services and laundry services).
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However, the growing work-from-home culture is anticipated to restrain the growth of the market and is creating a new opportunity for players to come up with new and advanced solutions to provide sustainable furniture variants with additional features to minimize occupying space in-home setup and uplift workforce engagement to promote colleague social interaction. For instance, in November 2020, Ori, the provider of multifunctional, robotic-powered space-saving solutions, debuted a brand-new product, Pocket Office, a transformable home office space solution. The Pocket Office allows users to transform any room into a dedicated workspace with a button. Featuring an entertainment center on the outside, the Pocket Office opens to reveal a natural, textured workstation that evokes comfort, sophistication, and warmth. Designed with maximum productivity and flexibility in mind, the interior boasts two desk options – one for standing and one for sitting – as well as storage and power sources, and room for a standard-size office chair and extra monitors. When a user is finished with work for the day, the Pocket Office closes, transforming into a thin entertainment center, allowing users to create mental and emotional separation from the day’s work.
Market Coverage
The market number available for – 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Product Type
By Distribution Channel
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- including Okamura Corp., HNI Corp., Herman Miller Inc., Haworth Inc., Global Furniture Group, and Steelcase Inc., and others.
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Office Furniture Market Report Segment
By Product Type
Seating
Modular Systems
Desks & Tables
Others
By Distribution Channel
Offline
Online
Office Furniture Market Report Segment by Region
North America
United States
Canada
Europe
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of APAC
Rest of the World
Latin America
Middle East and Africa
Company Profiles
Okamura Corp.
HNI Corp.
Herman Miller Inc.
Haworth Inc.
Global Furniture Group
Steelcase Inc.
Knoll Inc.
Kimball International Inc.
9to5 Seating LLC
KOKUYO CO., LTD.
Meridian Office Furniture
Berco Designs
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Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: [email protected]
Contact no: +91 7803040404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
This release was published on openPR.