LONDON--(BUSINESS WIRE)--The wall beds market size is expected to post a CAGR close to 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The rising demand for multi-featured wall beds is one of the major reasons for the growth of the market. In recent years, the need for wall beds with multiple functions has increased significantly, which has encouraged vendors to offer multi-featured wall beds. Consumers are increasingly seeking multi-featured wall beds as they offer higher returns on investment over conventional wall beds. Multi-functioning wall beds eliminate the need for other products, such as sofa, desks, cabinets, and closets, for different applications. They also save space, costs, and efforts and offer more convenience, which will be a key factor for the rise in demand for these beds.
To learn more about the global trends impacting the future of market research, download free sample: https://www.technavio.com/talk-to-us?report=IRTNTR32064
As per Technavio, the rising demand for eco-friendly and green furnishings will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Wall Beds Market: Increase in Demand for Eco-Friendly and Green Furnishings
The market is witnessing a growing trend towards more eco-friendly and green furnishings. Consumers prefer eco-friendly furniture and furnishings such as those made from Moso bamboo, which is more durable than oak. The major reason for the shift toward green furnishings is environmental concerns such as awareness of climate change and the effect of deforestation on ecosystems. Therefore, the high demand for eco-friendly furnishing will drive the demand for wall beds made from eco-friendly materials, which is expected to fuel market growth during the forecast period.
“Apart from the increase in demand for eco-friendly and green furnishings, other factors such as the introduction of motorized wall beds, and the growing demand for wall beds with power and USB adapters will have a significant impact on the wall beds market growth during the forecast period,” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 10,000+ market research reports.
Wall Beds Market: Segmentation Analysis
This market research report segments the global wall beds market by distribution channel (offline and online) and by region (North America, Europe, APAC, South America, and MEA).
The North American region led the market in 2018, followed by Europe, APAC, MEA, and South America respectively. The market dominance of North America can be attributed to factors such as the launch of innovative products, growing use of online platforms to buy furniture and furnishing products, and increased adoption of small/studio apartments.
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 ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.