South Korea Smart Furniture Market

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South Korea Smart Furniture Market by Product Type (Smart Tables & Desks, Smart Stools & Benches, Smart Chairs, and Smart Beds), by End Use (Residential and Commercial), and by Distribution Channel (Online and Offline) – Opportunity Analysis and Industry Forecast, 2024–2030

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

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South Korea Smart Furniture Market Overview

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.

Rising Demand for Space Saving and Multi-Functional Furniture Propels Market Growth

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.

 

Increasing Disposable Income Over the Region Further Fuels the Market Growth

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.

 

High Cost and Affordability Issues of Smart Furniture Hinders the Market 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.

Advancement in Home Automation Technology to Create Future Market Prospects

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.

 

Competitive Landscape

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.

South Korea Smart Furniture Market Key Segments

By Product Type    

  • Smart Tables and Desks

  • Smart Stools and Benches

  • Smart Chairs

  • Smart Beds 

By End Use    

  • Residential

  • Commercial 

By Distribution Channel

  • Online

  • Offline

Key Players

  • 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.

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Frequently Asked Questions

The key market players operating in the South Korea smart furniture market are 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.

According to the Next Move Strategy Consulting, the size of the South Korea smart furniture market is estimated to be at USD 78.2 million in 2030.

South Korea smart furniture market is advancing into the future with seamless integration into the Internet of Things (IoT), providing heightened personalization, sustainability, and improved functionality for a connected and eco-friendly lifestyle.

One of the key challenges in the South Korea smart furniture industry is high costs and affordability issues.

According to the Next Move Strategy Consulting, the size of the South Korea smart furniture market is estimated at USD 51.0 million in 2023.

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