Industry: ICT & Media | Publish Date: 03-Dec-2024 | No of Pages: 264 | No. of Tables: 71 | No. of Figures: 36 | Format: PDF | Report Code : IC1155
The South Korea Smart Furniture Market size was valued at USD 51.91 million in 2023 and is expected to reach USD 77.5 million by 2030, with a CAGR of 5.7% from 2024 to 2030. Smart furniture refers to modern furnishings and fixtures designed with embedded technology, sensors, and connectivity features that enhance functionality, convenience, and usability.
These furniture pieces are equipped to interact with users and adapt to various needs, often through remote control, smartphone apps, or voice-activated virtual assistants. Smart furniture improves comfort, efficiency, and user experience in living, working, or recreational spaces by integrating elements such as adjustable settings, built-in charging capabilities, environmental sensors, and connectivity with other smart devices.
The growing need for furniture that saves space and serves multiple functions is a key factor driving the popularity of the smart furniture market in South Korea. In today's busy urban areas, where living spaces are often limited in size, people are looking for smart solutions that make the most of their available space.
This trend reflects the changing lifestyle of city dwellers who prefer compact and versatile furniture. Smart furniture is designed to meet this demand, offering features such as hidden storage, foldable designs, and the ability to adapt to different uses. This furniture is essential for making the most out of small living spaces.
The increasing disposable income per capita is a significant driver behind the South Korea smart furniture market trends. As individuals have more disposable income, they are increasingly inclined to invest in smart furniture solutions that offer enhanced comfort, convenience, and efficiency in their homes. The expanding affordability and purchasing power fueled by rising incomes are consequently propelling the demand for smart furniture, boosting industry growth.
Integrating advanced technology and smart features into smart furniture tends to be more expensive. This cost can be a real obstacle for many potential buyers, especially those mindful of their budgets. It acts as a barrier that prevents the smart furniture market from expanding, particularly in the segments of the population that prioritize affordability.
The rapid advancements in home automation technology are expected to create ample opportunities for the smart furniture industry in the future. This technological progress allows for the integration of smart furniture into the broader smart home ecosystem, making it user-friendly and versatile for consumers of various technical backgrounds. The seamless integration of smart furniture with existing home automation systems, such as voice assistants and smart thermostats, ensures the streamlining of the user experience and enhances the appeal of smart homes.
Additionally, this collaboration between smart furniture and home automation systems contributes to energy efficiency, aligning with the increasingly important trend of eco-friendly living. With more user-friendly, stylish, and environmentally conscious options available than before, the South Korea smart furniture market is well-positioned to thrive as it caters to the evolving needs of homeowners.
Several market players operating in the South Korea smart furniture industry include Inter IKEA Systems BV, Herman Miller, Inc., Steelcase, Inc., Sobro, StoreBound LLC, Seebo Interactive Ltd., Milano Smart Living, Modoola Limited, Hi-Interiors SRL, and Sleep Number Corporation.
Smart Tables and Desks
Smart Stools and Benches
Smart Chairs
Smart Beds
Residential
Commercial
Online
Offline
Inter IKEA Systems BV
Herman Miller, Inc.
Steelcase, Inc.
Sobro
StoreBound LLC
Seebo Interactive Ltd.
Milano Smart Living
Modoola Limited
Hi-Interiors SRL
Sleep Number Corporation
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 51.91 Million |
Revenue Forecast in 2030 |
USD 77.5 Million |
Growth Rate |
CAGR of 5.7% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Million (USD) |
Growth Factors |
Rising Demand for Space Saving and Multi-Functional Furniture Propels the Market Growth Rising Disposable Income Over the Region Further Fuels the Market Growth |
Companies Profiled |
10 |
Market Share |
Available for 10 companies |
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |