Office furniture is one of the important parts of the office management. Office furniture can be classified on the basis of appearance or purpose, as they are needed in an office. The major & popular office furniture common in all offices are tables, chair, desks, cabinets, sofas, racks and such other products. It is considered that offices should have good design and environment so that the offices look attractive & pleasant, the office furniture provides the same and also, helps in the office looking more spacious and divides the proper area for different work and people. Along with this, the productivity increases with the good quality types of furniture.
In the past years, the trend for modern office furniture began to emerge and favoured replacing old furniture. Currently, with the increase in the employment rate and rising consumption of office spaces, the demand for technologically advanced & innovative office furniture has increased. With the ongoing advancement in the office furniture products, the manufacturers are focusing towards providing better products to its customers which are healthier and more comfortable. Therefore, to increase and improve productivity, consumers such as enterprises and others are preferring modern and modular office furniture’s.
According to Fast.MR, analysis, the market for office furniture accounted for USD 61,740.4 Million in 2019, registering a compound annual growth rate (CAGR) of 10.5% between 2020 and 2025. Further, increase in venture deals, improving connectivity between land, air, and sea, growing focus on infrastructure, and increase in small and medium enterprises (SMEs) are key reasons which are likely to bolster the demand for office furniture in the upcoming years. There is also an impressive rise in the number of co-working and private office spaces. Thus, increasing demand for co-working spaces is fulfilling the need of the growing number of start-ups and entrepreneurs across the globe. Such strong growth in number of start-ups is poised to aid the growth of the global office furniture market.
With abundant natural resources, including numerous varieties of timber, various countries such as China, India, United States, Indonesia and others have developed a strong furniture manufacturing base. Having these advantages, the local furniture manufacturing business has thrived remarkably in such countries. Such availability of natural wood resources has attracted numerous brands to establish their manufacturing base in the such countries and expand their product offering. Thus, above factors have been backing up the growth of the furniture industry, including the office furniture industry across the globe. They are likely to continue supporting the growth of the market for office furniture in upcoming years.
How This Study is Going to Help You:
According to the analysis offered by Fast.MR, the research report explains the behaviour of the market, which helps companies to make better decisions & gain advantages over their competitors. The primary goal of this research is to serve as the voice of the customer. The report provides numerous strategic & tactical decisions of identifying and satisfying customer needs to the clients, covering the insights which guide our clients to create a great business plan by launching new products & services, optimizing their existing products & services, and guiding them to expand into new markets. In addition, the report also includes various points that cover the identification of consumer needs regarding the product. It explains how the current product is behaving in the market and whether it can meet the demand of the consumer or not. This will help our clients to have a better understanding of the current market scenario and will also help in identifying the solution to the problems which are being faced by the consumers.
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