LONDON--(BUSINESS WIRE)--Technavio has been monitoring the online furniture market and it is poised to grow by USD 84.26 bn during 2020-2024, decelerating at a CAGR of almost 16% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the online furniture market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions:
What are the major trends in the market?
Mobile commerce and network marketing is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The market will decelerate at a CAGR of almost 16% and the incremental growth of the market is anticipated to be $ 84.26 bn.
Who are the top players in the market?
Alibaba Group Holding Ltd., Amazon.com Inc., American Signature Inc., Ashley Furniture Industries Inc., eBay Inc., Herman Miller Inc., Inter IKEA Systems BV, Kimball International Inc., Steelcase Inc., and Steinhoff International Holdings NV., are some of the major market participants.
What is the key market driver?
The rise in online spending and smartphone penetration is one of the major factors driving the market.
How big is the APAC market?
The APAC region will contribute to 76% of the market share.
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The market is concentrated, and the degree of concentration will decelerate during the forecast period. Alibaba Group Holding Ltd., Amazon.com Inc., American Signature Inc., Ashley Furniture Industries Inc., eBay Inc., Herman Miller Inc., Inter IKEA Systems BV, Kimball International Inc., Steelcase Inc., and Steinhoff International Holdings NV. are some of the major market participants. The rise in online spending and smartphone penetration will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this online furniture market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Online Furniture Market 2020-2024: Segmentation
Online Furniture Market is segmented as below:
- Online Residential Furniture
- Online Commercial Furniture
- North America
- South America
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Online Furniture Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The online furniture market report covers the following areas:
- Online Furniture Market Size
- Online Furniture Market Trends
- Online Furniture Market Industry Analysis
This study identifies mobile commerce and network marketing as one of the prime reasons driving the online furniture market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Online Furniture Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist online furniture market growth during the next five years
- Estimation of the online furniture market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the online furniture market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of online furniture market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application placement
- Online residential furniture - Market size and forecast 2019-2024
- Online commercial furniture - Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Middle East and Africa - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Alibaba Group Holding Ltd.
- Amazon.com Inc.
- American Signature, Inc.
- Ashley Furniture Industries, Inc.
- eBay Inc.
- Herman Miller, Inc.
- Inter IKEA Systems BV
- Kimball International Inc.
- Steelcase Inc.
- Steinhoff International Holdings NV
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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 17,000 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.