Positive Landscape of Virtual Reality (VR) Technology in the Furniture Market Outlook: Ken Research

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Furniture industry is undergoing with the more development in the technology and companies are also started making smart furniture with the facility of IoT that is Internet of Things. Not only has this, with the technology of Augmented Reality the phase of furniture industry is also enhancing with the more development in this technology. Moreover, with the more development in the technology and efficient innovations in the existing technology the market is become more attractive and lead to significant growth across the globe. According to the report analysis, ‘Market Research Reports for Furniture’ states that in the forecasted period the more development in the technology of Virtual reality transform the industry of furniture totally as virtual reality not only provide consumers with an opportunity to test-drive products but also to attract and retain their fickle attention. Additionally, significant increase in the disposable income and digitalization, the industry of furniture is growing more efficiently with the more development in the specifications of furniture.

However unsurprisingly, the development in the technology totally turned up the industry of furniture and the introduction of Virtual Reality into the retail of furniture world is revolutionary. Moreover, many of the companies such as Microsoft, Google and others are struggling to keep up with all of the technological advancement and providing better experience to the customers. Virtual Reality systems include immersive applications, such as head-mounted display and large projective displays. With the technology of VR in the smart phones, laptops, desktops shoppers can rotate, zoom in and out, and change the color or context of the product they are viewing. Moreover, the user of VR can participate in modifying the form and content of a mediated environment with the immediate feedback and it creates the most prominent shopping surrounding for learning product information. Additionally, with the enhanced learning opportunities, VR furnishing online shoppers with practical product experience. According to the report analysis, ‘Furniture Industry Research and Market Reports’ states that the VR technology initially encourage Web site engagement and thus constructs continuing relationships between online retailers and its customers. Furthermore, VR allows not only close inspection of an individual item but also visual inspection of how furniture items coordinate, which is difficult in physical stores. VR offers unlimited choices without the temporal and physical constraints of a brick-and-mortar store, along with the potential of finding choices that shopper want. The many companies are doing significant development in the applications of VR which lead to a significant increase in the industry of furniture.

The usage of VR is very much done in the both developed and developing countries as VR offers shoppers realistic product experience, with the selective product according to individual tastes which involves actual visualization of several furniture combinations. The market of VR in furniture industry is majorly dominating by the North America and Europe whereas; the Asia Pacific region is also doing so many innovations for acquiring a handsome amount of share in this market. IKEA (Swedish Furniture Company) and Lowe’s (North America home Improvement Company) are the major players of this market and providing better consumer experience.  Moreover, Microsoft, Electrolux, Panasonic and others are the major players of this market and welcoming the new investors which support the market and build ecommerce for VR. Therefore, it is expected that in the coming years the technology of VR in the furniture industry will grow more significantly over the decades.

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https://www.kenresearch.com/tag/consumer-products-and-retail/furniture/25.html

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Ken Research

Ankur Gupta, Head Marketing & Communications

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