Australia Smart Furniture Market Size, Share, and COVID-19 Impact Analysis, By Product (Smart Desks, Smart Tables, Smart Chairs, and Others), By End User (Residential and Commercial), and Australia Smart Furniture Market Insights, Industry Trend, Forecasts to 2033

Australia Smart Furniture Market Insights Forecasts to 2033

• The Australia Smart Furniture Market Size was valued at USD 44.57 Million in 2023.
• The Australia Smart Furniture Market Size is Growing at a CAGR of 7.46% from 2023 to 2033
• The Australia Smart Furniture Market Size is Expected to Reach USD 91.50 Million by 2033

The Australia Smart Furniture Market Size is Anticipated to Exceed USD 91.50 Million by 2033, Growing at a CAGR of 7.46% from 2023 to 2033. A major factor driving the Australia smart furniture market's continuous growth in Australia is the trend towards smart homes and the demand for linked living areas.  

Market Overview

The business devoted to the design, production, and marketing of technologically connected furniture that improves user comfort, efficiency, and convenience is known as the "Australia smart furniture market." Australia smart furniture uses automation, sensors, and connection to carry out sophisticated tasks, including voice control, wireless charging, and energy conservation. The increasing need for modern lifestyles, space optimization, and sustainability is driving this industry, which serves both the residential and commercial sectors. The primary factor propelling the Australia smart furniture market is the increasing need for multipurpose, space-saving furniture. The growing popularity of home automation is one of the main factors driving the smart furniture industry in Australia. The growing trend of smart homes and urbanization has increased demand for furniture with integrated technology, which is driving the Australia smart furniture market.      

Report Coverage

This research report categorizes the market for the Australia smart furniture market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Australia smart furniture market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Australia smart furniture market.

Driving Factors

The industry saw an increase in demand for multipurpose and space-saving furniture that would accommodate smaller living areas and urban life. The furniture industry's expansion was further boosted by the incorporation of voice-activated technologies and artificial intelligence. The growing use of tech-savvy workspaces in corporate offices serving IT, research, and labs, along with the need for efficient and practical work furniture among professionals work from home, are the primary factors driving the growth of the Australia smart furniture market. Rapid urbanisation, the use of smart home technology, and the growing need for ergonomic workplace solutions are some of the reasons driving the growth of the Australia smart furniture market.   

Restraining Factors

High manufacturing costs, poor consumer awareness, issues with compatibility with current technology, cybersecurity worries, and the comparatively sluggish adoption of smart furniture in conventional markets are some of the factors restricting the growth of the Australia smart furniture market.   

Market Segmentation

The Australia smart furniture market share is classified into product and end user.    

• The smart desks segment accounted for the largest share of the Australia smart furniture market in 2023 and is anticipated to grow at a significant CAGR during the forecast period   

On the basis of product, the Australia smart furniture market is divided into smart desks, smart tables, smart chairs, and others. Among these, the smart desks segment accounted for the largest share of the Australia smart furniture market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The anticipated fast rise of commercial and office building development and remodelling activities is projected to drive up demand for smart desks as organizations furnish new office spaces. The role of replacement activity in supplying demand has historically been low due to the lifetime of products and a lack of innovation.

• The commercial segment accounted for the largest share of the Australia smart furniture market in 2023 and is anticipated to grow at a significant CAGR during the forecast period   

On the basis of end user, the Australia smart furniture market is divided into residential and commercial. Among these, the commercial segment accounted for the largest share of the Australia smart furniture market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. New factories in office and commercial building development require furnishings. Increased office improvement activity is anticipated as companies update workspaces to incorporate modern design features like open floor plans and collaborative work areas, which are going to improve gains.   

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Australia smart furniture market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Sobro
• Steelcase, Inc.
• Hi-Interiors SRL
• Modoola Limited
• StoreBound LLC
• Milano Smart Living
• Seebo Interactive Ltd.
• Herman Miller, Inc.
• Sleep Number Corporation.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Australia, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Australia smart furniture market based on the below-mentioned segments:

Australia Smart Furniture Market, By Product

• Smart Desks
• Smart Tables
• Smart Chairs
• Others

Australia Smart Furniture Market, By End User

• Residential
• Commercial