Home Office Furniture - Worldwide

Worldwide

The Home Office Furniture market worldwide is projected to generate a revenue of US$49.61bn in 2024.
It is anticipated that the market will experience an annual growth rate of 3.52% (CAGR 2024-2029).
When compared globally, in the United States leads in revenue generation, with US$18,920m expected in 2024.
In terms of per capita figures, each person worldwide is estimated to contribute US$6.40 to the Home Office Furniture market's revenue in 2024.
Despite the global shift towards remote work, the demand for home office furniture remains high in countries like the United States and Germany, where individuals prioritize creating comfortable and productive workspaces.

Key regions: Worldwide, United States, India, China, Denmark

Market

Region

Region comparison

Currency

Analyst Opinion

The home office furniture segment has seen a surge in demand over the past couple of years, primarily due to the rise of remote work and work-from-home arrangements. With more people opting for home office, the demand for comfortable and functional home office furniture has increased significantly. As a result, the home office furniture market has become highly competitive.

With regards to market trends, there has been a growing preference for ergonomic and sustainable home office furniture. Consumers are increasingly looking for furniture that not only looks good but also promotes good posture and comfort. This trend is likely to continue as people continue to work from home and prioritize their health and well-being.

Another trend in the home office furniture market is customization. Consumers want furniture that fits their unique needs and preferences, and many companies are offering customizable options to meet this demand. This includes everything from adjustable height desks to modular storage units that can be configured in various ways.

Overall, the home office furniture segment is poised for continued growth, driven by the rise of remote work and changing consumer preferences. Companies that can adapt to these trends and offer innovative, functional, and sustainable products are likely to succeed in this highly competitive market.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.