Furniture E-Commerce Market Size, Share, Growth, and Industry Analysis, By Type(Solid Wood Furniture, Board Type Furniture, Soft Furniture and Others), By Application (Residential and Commercial) and Regional Forecast to 2032

Updated On: 11 November 2024

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FURNITURE E-COMMERCE MARKET REPORT OVERVIEW

The Furniture E-Commerce Market Size was US$ 83880 Mn in 2023 and is projected to touch US$ 277431.02 Mn By 2032, Exhibiting a CAGR of 12.6% During the Forecast Period.

Furniture e-commerce can be described as the business transaction that involves the use of internet to promote the sale of furniture and other home interior products. It has therefore received a lot of growth over the years since knowledge in technology and the market trends have improved.

COVID-19 Impact

"Market Growth increased by the Pandemic due to Increased Online Shopping"

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

This makes people need to buy furniture they need online because because of lockdown, many of them had to close or partially close their outlets. These changes lead to the strengthening of revenues in the e-commerce segment mainly operating with the sphere of home furniture and decoration especially due to the quarantine restrictions of pandemic.

LATEST TRENDS

"Augmented Reality (AR) and Virtual Reality (VR) to Propel Market Growth"

Virtual Reality (VR) and Augmented reality (AR) are two technologies that are now revolutionizing furniture e-commerce by closing the reality gap between web room and purchase. This can be made achievable through augmented reality technology whereby the images taken with the customer’s Smartphone or tablet is superimposed on the real environment to depict how the furniture pieces seem like and where they suit best.

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FURNITURE E-COMMERCE MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Solid Wood Furniture, Board Type Furniture, Soft Furniture and Others.

• Solid Wood Furniture- This is furniture made from genuine and complete wooden material ensuring durability and strength and the natural appeal of the woods makes the furniture elegant. Some of the normal forms of wood are oak, maple desk wood, walnut, and cherry.

• Board Type Furniture- Board type furniture are made up with the engineered products such as particle boards, medium density fiberboard (MDF) or plywood. These materials are produced by kneading wood fibers or particles with binding agents from resins.

• Soft Furniture- Soft furniture is also called upholstered furniture due to it being manufactured using materials such as fabric, leather or other synthetic material. It also contains some cushioning and padding for more comfort.

By Application

Based on application the market can be categorized into Residential and Commercial.

• Residential- Most of the furniture selling companies have their stores on the internet and they make available living room furniture such as sofas, coffee tables, entertainment centers, and accent chairs. They are aimed at creating a comfortable and beautiful look in the houses’ atmosphere.

• Commercial- Employees and companies buy office furniture that includes desks, cubicles and conference tables from e-commerce sites. All these products are meant to enhance productivity and the professional realm.

DRIVING FACTORS

"Convenience and Accessibility to Drive Market Advancement"

One of the key driving factors in the Furniture E-Commerce Market growth is the Convenience and Accessibility. Availability and supply play significant roles in influencing the Furniture E-Commerce Market. The opportunity to shop online has a number of benefits that come as a shock in comparison with the shops’ real-life experience. Customers are able to view a wide array of furniture anytime because they don’t have to go to the store physically, at the discretion of the physical store operations. This flexibility is very appealing to most people; especially working individuals who do not want to spend time going to physical stores.

"Sustainability and Eco-Friendly Products to Expand the Market"

As more people get to know of ‘green’ products, effects of sustainable factors, sustainable factors and environmental issues, these have greatly risen as factors that contribute to furniture e-commerce. Firms selling furniture who offer their furniture to market online and thereby appealing to customers who want furniture that has no negative impacts on the environment are meeting the need of customers who want products that do not impact on the environment. This includes furniture that has been manufactured from recycled material, furniture that has been salvaged naturally or naturally restored or final furniture that has non-hazardous finishes.

RESTRAINING FACTOR

"Quality Assurance and Product Inspection Poses Potential Impediments to Market Growth"

The factors like quality assurance and product inspection are considered as major concerns for the Furniture E-Commerce Market as these factors act more like constraints due to the nature of the market being an online market. In contrast to the conventional conventional stores that can allow customers to touch and envision the furniture, as well as sit or lie on it, in the internet based venture, customers are limited to keystones, pictures and descriptions, and word of mouth. This absence of touch enables doubt over the real quality of the product which might lead to disappointment in case the product delivered is not up to one’s expectations.

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FURNITURE E-COMMERCE MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Asia Pacific to Dominate the Market due to Rapid Urbanization"

Asia Pacific has emerged as the most dominant region in the Furniture E-Commerce Market share due to a convergence of factors that propel its leadership in this dynamic industry. The Asia Pacific region is currently undergoing the urbanization process, hence the need for people to acquire home and office furniture since they are moving to new urban areas or upgrading their houses.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Furniture E-Commerce Market Landscape through Innovation and Global Strategy"

Major industry players are pivotal in shaping the  Furniture E-Commerce Market, driving change through a dual strategy of continuous innovation and a well-thought-out global presence. By consistently introducing inventive solutions and staying at the forefront of technological progress, these key players redefine the industry's standards. Simultaneously, their expansive global reach enables effective market penetration, addressing diverse needs across borders. The seamless blend of groundbreaking innovation and a strategic international footprint positions these players as not only market leaders but also as architects of transformative shifts within the dynamic domain of  Furniture E-Commerce.

LIST OF MARKET PLAYERS PROFILED

• Ashley(S.)
• Amazon (S.)
• IKEA(Netherlands)
• Wayfair(S.)
• Williams-Sonoma Inc.(S.)

INDUSTRIAL DEVELOPMENT

Jan 2024 : The furniture industry has gone through several phases of industrialisation due to the enhancement of the manufacturing processes and some environmental consideration. Some of the changes that have been observed in the more recent past are a clear transition to Industry 4. 0, applying automation, Artificial Intelligence, as well as data analysis to production lines.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.