However, lack of awareness among general population, particularly in underdeveloped economies is expected
to limit market growth to a certain extent. Additionally, higher initial cost and relatively new concepts of smart
furniture are the key challenges for smart furniture market, thus delaying its effective adoption. Complexity
associated with design of smart furniture in comparison with traditional furniture, is further slowing the market
progress.
The market is broadly categorized into two major segments based on the application type such as commercial
sector and residential sector. Residential segment is growing rapidly in the market with substantial revenue
generation in the last few years.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in implementation of latest technologies in housing
sector, surge in number of research & development activities in the region and existence of well-established
manufacturing infrastructure. In European region, Germany, France, and United Kingdom are projected to
witness steady growth due the growing housing market and increasing per capita income.
Asia-Pacific region is estimated to hold a major share in the smart furniture industry with massive growth in
forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing
infrastructural activities, booming online retail sector, rising disposable income, and significant investment by
leading industry players considering potential growth opportunities in the region.
The key players in the smart furniture market are Milano Smart Living LLC, Modoola Ltd., Fonesalesman Ltd.,
Carlo Ratti Associati, Herman Miller, Inc., Tabula Sense Ltd., Ikea Systems B.V., Seebo Interactive Ltd., Kamarq
Holdings Pvt., Ltd., and Ori Systems Co.
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