Contract Furniture and Furnishing Market in Europe 2019-2023 | Increased Introduction of Smart Furniture to Boost Growth | Technavio

Technavio has announced its latest market research report titled contract furniture and furnishing market in Europe 2019-2023. (Graphic: Business Wire)

LONDON--()--The contract furniture and furnishing market in Europe is expected to post a CAGR close to 6% during the period 2019-2023, according to the latest market research report by Technavio.

A key factor driving the growth of the market is the growing demand for modern furniture in educational institutions. The changing education patterns and methods of teaching are leading to a modification in the infrastructure of educational institutions. In addition, the growing economy and increased focus on aesthetics have fueled the demand for modern furniture in schools across Europe. This demand for modern furniture is expected to grow rapidly due to the growing number of international schools with aesthetically-appealing learning centers. The focus on aesthetics boosts the demand for modern educational furniture in Europe. Accessories in the furniture industry, including wall plates and other modern accessories, are customized in terms of color, theme, texture, and design. As modern furniture is characterized by innovative designs and technologically advanced production practices, it is sold at high costs, which will boost market growth over the forecast period.

As per Technavio, the increased introduction of smart furniture will have a positive impact on the market and contribute to its growth significantly over the forecast period. This contract furniture and furnishing market in Europe 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Contract Furniture and Furnishing Market in Europe: Increased Introduction of Smart Furniture

With evolving technology, commercial spaces such as hospitals, corporate offices, public bodies, and retail stores are inclined towards adapting novel technologies. This in turn necessitates upgradation of furniture and furnishing to cater to the latest technology. The concept of monitoring and controlling furniture and furnishing products with smart devices is gaining popularity among end-users. Smart furniture offers the convenience of remote location operability through wireless technology operated using applications on their smart devices. Therefore, the adoption of smart furniture is likely to increase among end-user industries during the forecast period, which will drive the demand for contract furniture and furnishings in Europe.

“Apart from the increased introduction of smart furniture, some other major aspects expected to boost market growth are increased preference for multi-functional furniture, increased preference for customized furniture, and growing number of office spaces,” says a senior analyst at Technavio.

Contract Furniture and Furnishing Market in Europe: Segmentation analysis

This market research report segments the contract furniture and furnishing market in Europe by end-user (hospitality and food services, offices and home offices, retail stores, institutions, and others) and geographical regions (Germany, France, UK, and rest of Europe).

Geographically, Germany led the market in 2018, followed by France, UK, and rest of Europe. However, and during the forecast period, the UK is expected to register the highest incremental growth due to the introduction of modern, advanced, customized, and eco-friendly furniture and furnishing products.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The contract furniture and furnishing market in Europe is expected to post a CAGR close to 6% during 2019-2023, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com