Contract Furniture and Furnishing Market: Introduction
- Contract furniture, also referred to as commercial or office furniture, is specially designed and used for commercial purposes. Contract furniture includes desks & workstations, chairs & tables, storage cabinets & shelves, and sofa sets. It is most commonly employed in restaurants, hotels, offices, schools & colleges, receptions, waiting rooms, etc. Contract furniture is comparatively expensive, as it is considered a high quality product; however, it is more durable than standard furniture. Demand for contract furniture and furnishing is estimated to increase during the forecast period.
Key Drivers and Opportunities of the Global Contract Furniture and Furnishing Market
- Utilization of contract furniture is rising consistently in commercial places, which include corporate parks, luxury hotels & restaurants, and schools. Increase in investment on interior decoration has driven the average spending on contract furnishing, as it makes the surroundings attractive and organized. Evolution of the e-commerce industry and promotion or advertising of products on social media and various online platforms also plays a significant role in boosting the contract furniture and furnishing market.
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- The global contract furniture and furnishing market is anticipated to be primarily driven by increasing adoption of ergonomic furniture in the office space. This has subsequently led to a rise in the demand for ergonomic furniture. Furthermore, adoption of eco-friendly contract furniture and furnishings among consumers is expected to drive the market during the forecast period.
- Advancement in technology has propelled the furniture and furnishing market. Smart furniture, which includes charging tables, smart sofas, smart showerheads, food tracking refrigerators, and smart wardrobes for corporate offices, luxury hotels, restaurants and bars, etc., can be operated remotely through smart devices such as smartphones and tablets. This is anticipated to drive the contract furniture and furnishing market during the forecast period.
Asia Pacific to Hold Major Share of Global Contract Furniture and Furnishing Market
- In terms of geography, the contract furniture and furnishing market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- Asia Pacific is expected to hold a major share of the contract furniture and furnishing market during the forecast period. Developing countries in Asia Pacific has been experiencing rapid commercialization for the last few years, which in turn is estimated to fuel the demand for contract furniture and furnishing in the region during the forecast period.
Key Players Operating in Global Contract Furniture and Furnishing Market
- Carlick Contract Furniture Company
- Forest Contract
- Haworth Inc.
- Herman Miller, Inc.
- Humanscale International Holdings Ltd.
- Kinnarps AB