Market of furniture is growing rapidly with the increase in the urban population and more development in the technology of internet. Moreover, the e-retailers in India is growing and playing a significant role and making the market more innovative. In the recent trend, it is expected that the Indian online retail market is condemned to gross around USD 15 billion. Whereas, furniture as an online commodity has a certain specific set of problems such as problem of warehousing of pre-made furniture products and others. On the other hand, manufactures can expand their geographical presence with the help of online retailing, and the consumers can make better purchase decision by referring to the reviews online. Online retailers have helped the customers, vendors and other players of this market to indulge in the trade with the much convenient and easier way. Therefore, the major portion of this market is enjoyed by online furniture retailers. According to the report analysis, ‘Furniture Market Research Reports’ suggests that changing lifestyle is one of the more prevailing factor which the lead the growth to this market.
Major portion of the population is becoming more technology orientated and the furniture industry is being shaped by new technology for comfort and ease of use. E-commerce furniture industries leading the significant growth to this market and now furniture makers are not just bearing how comfortable a chair is but how easy it is to use technology while sitting on that chair. With the wide usage of power of virtual reality the number of store are trying out this internet technology and shopping for furniture is becoming even easier as time moves on. According to the report analysis, ‘Market Research Report for Furniture’ suggests that the internet technology is changing the industry of furniture across the globe and unsurprisingly it is going meet the needs of the modern population. In the developed countries the internet technology is prominent across the population and make the furniture industry more profitable as the buyer can buy any type of verified and secured furniture online at a reasonable cost rather than the offline market with the warranty of the product and other facilities such as free delivery and others.
In the North America it is expected that the industry of furniture is becoming more innovative and lead to significant growth with the expansion of business online whereas, Europe is dominating the huge market share in the furniture industry and plays a significant role in the smart furniture market. Not only has this, Asia Pacific region is also playing significant role followed by rest of the world in this industry. Moreover, both developed and developing countries are doing efficient innovations in the internet which make the site of online retailers more attractive and helpful in increasing their sells.
Carlo Ratti, Tabula Sense, Kamarq Holdng, Ori Systems, Ikea Group, Fonesalesman, Herman Miller, Inc, Milano Smart Living and others are major players of this industry whereas, Seebo Interactive Ltd., Ori systems are the major leading players in this market who are dominating the huge share in this market followed by Herman Miller, Inc. Moreover, many of the companies are collaborating with the Flipkart and Amazon for selling their furniture products online which make the online market of furniture more competitive as the existence of numerous online players. Therefore, it is expected that the furniture industry will grow significantly in the coming years over the decades with more innovations in the applications of online apps and sites.
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Ankur Gupta, Head Marketing & Communications