According to the latest report by IMARC Group, titled “Office Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global office furniture market reached a value of around US$ 71 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.4% during 2021-2026.
Office furniture includes several key components specifically designed for commercial and corporate spaces. Tables, desks, chairs, storage cabinets and shelving, filing cabinets, and cubicle dividers are some of the essential furniture items used in these spaces. These pieces of furniture are made from high-quality materials to provide comfort to the users and protect official documents and electronics against dust, pests, theft, and fire. As a result, office furniture is widely used in individual workstations, meeting rooms, cafeterias, and lounges to enhance the overall work productivity of the employees.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Office Furniture Market Trends:
The global market for office furniture is primarily driven by a considerable increase in the construction of commercial zones and IT parks. Additionally, a significant growth in the corporate sector is also providing a thrust to the global market. Besides this, the rising number of start-ups and increasing requirement for employment across the globe are acting as another major growth-inducing factor. Moreover, continual technological advancements have enabled various manufacturers to develop smart office furniture. They are also integrating furniture with sensors to remind the users to change their posture or complete a given task at regular intervals, which is further creating a positive outlook for the global market. Several other factors, including escalating demand for premium and designer furniture, along with the expansion in the real estate industry, are anticipated to further drive the market growth in the coming years.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
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Key highlights of the Report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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