New Study: Global Office Furniture Market 2016-2020

Multinational companies are expanding their businesses worldwide into new cities and countries and the corporate sector is realizing ever-increasing profits. In a bid to make these office spaces more employee-friendly and comfortable to work in, employers are using innovative furniture and design concepts. The rising number of employees also necessitates higher investment in office furniture. Manufacturers in the office furniture industry are cognizant of the evolving trends in the market and are developing ergonomic and eco-friendly products to cater to these requirements.

The market is driven primarily by the booming real estate sector, rising population, and an increase in the number of single-family households, particularly in urban areas. The growing demand for premium and luxury furniture in the latest styles and designs will also drive revenue growth over the next five years. Demand for eco-friendly furniture is also growing.

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Technavio's analysts forecast the global office furniture market to grow at a CAGR of 5.54% during the period 2016-2020.

Covered in this report
The report covers the present scenario and the growth prospects of the global office furniture market for 2016-2020. To calculate the market size, Technavio considers the revenue generated from the sales of office furniture including furniture used in public, private, and government-owned companies. It does not include products used in hospitals, educational institutions, and restaurants.

The market is divided into the following segments based on geography:

* APAC
* Europe
* North America
* ROW

Technavio's report, Global Office Furniture Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

* Herman Miller
* HNI
* Kokuyo
* Okamura
* Steelcase

Other prominent vendors

* 9to5 Seating
* AFC Systems
* Berco Furniture Solution
* Clarin
* Creative Wood
* Global Upholstery
* Godrej & Boyce
* KI
* Kimball International
* Kinnarps
* Knoll
* Meridian Office Group
* Sedus, Teknion
* Wipro Furniture

Market driver

* Launch of innovative design concepts to enhance work environment
* For a full, detailed list, view our report

Market challenge

* Emergence of virtual workplace
* For a full, detailed list, view our report

Market trend

* Introduction of multifunctional furniture
* For a full, detailed list, view our report

Key questions answered in this report

* What will the market size be in 2020 and what will the growth rate be?

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