According to Fact.MR’s analysis, the worldwide office furniture industry is predicted to increase at a faster-than-average rate. During the projected period of 2021-2031, the market is expected to grow at a 5.8% CAGR. The growth of the office furniture industry is being fueled by an increase in the number of corporate offices as well as an increase in the employment rate. Manufacturers are also developing new looks and designs in order to provide multifunctional and pleasant workplace furniture.
Modular furniture that is both technologically and productivity-enhancing. The following forecasts illustrate how the worldwide office furniture market will perform over the next five years.
Global Office Furniture Market: Segmentation
Segmentation table of the global office furniture market has been provided below on the basis of product, sales channel, and region.
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There is fierce competition among major players to provide high-quality office furniture.
Several office furniture firms are selling their items online, either through their own website or through famous retail websites such as eBay, Amazon, and others, as customer preference for online shopping grows.
Amazon’s furniture sales topped $4 billion in 2018, demonstrating the appeal of an e-commerce platform for furniture purchases. The office furniture market is highly fragmented, and just a few leading manufacturers are considering investing in R&D now that the market has reached maturity.
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