Increase in the disposable income and urbanization, the market of furniture is growing significantly with the more development in the specifications of furniture and adaptation of new technologies has also lead to the market growth. Moreover, retailing of furniture is doing well in the online market and the players are projecteing more projects related to the furniture industry. Technology such as virtual reality, augmented reality, IoT (Internet of Things) and others are playing significant role in the market of furniture and make it more fruitful for the both the buyer and the seller. According to the report analysis, ‘Furniture Research Industry and Market Report’ suggests that the augmented reality technology is growing rapidly in the furniture industry which make effective purchase by the consumers as with the online buying of the consumer will not able to get the exact fitted size furniture for their home. But the introduction of augmented reality solves this problem of online buying and increases the sales of the furniture.
In the recent trend, it is observed that with the more development in the technology so many of the biggest players in home furniture introducing Augmented Reality applications. Moreover, this technology helps in increasing consumer confidence when purchasing big-ticket item and AR (Augmented Reality) can also decrease return rates by helping consumers. Additionally, with the recent market trend Apple ARKit and Google ARCore, 2018 is dignified to witness a mainstream tipping for augmented reality technology. As mainstream awareness of AR starts to explode in 2018, expect to see plethora of new mobile AR apps for ARKit and ARCore. With this technology users can simply hold up a mobile and scan the encompasses room, the Ikea Place app then enables the users to fix 3D furniture objects around the room in a systematic relevant manner. Not only has this, the consumer or user of this technology can rearrange furniture, change its color whereas the application offering the opportunity to add items to the basket and purchase online. Therefore, the applications of AR will continue to transform all aspects of the commercial landscape of furniture industry. According to the report analysis, ‘Market Research Reports for Furniture’ suggests that more innovations in the Augment Reality market of furniture will result in the significant growth and make the market more attractive and further increase the sales of furniture with the increase in the disposable income of the people and rise in urban population.
Europe is doing effective management in this industry and makes the market more gainful for all the key players whereas, the North America is dominating the huge market share in AR in the furniture industry. Not only has this, Asia Pacific Region also started projects and programs related to this and expected to gain handsome amount of share in this industry. This industry is very much prominent in both developed and developing countries.
DAQRI, Imaginate Technologies, Kudan, ViewAR, Ikea, Google, Apple, Total Immersion, Holition, Sephora, Microsoft, Zugara, Marxent Labs, Amazon and others are the major players of the Augmented Reality in the furniture industry. Whereas, Ikea, Apple, ARKit are dominating the major portion of this market with the more innovations in the applications of existing AR technology and with rise in the introduction of new apps for the better consumer experience and expanding the business profile. Therefore, it is expected that in the coming years the AR technology in furniture market will lead to a positive role and results the more growth over the decades with the further development in the economic system.
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Ankur Gupta, Head Marketing & Communications