Home Office Furniture market is estimated to garner $ XX million by the end of 2026, growing at a CAGR of 6.1% during the forecast period of 2020-2026

Global Home Office Furniture Market Analysis 2016-2020 and Forecast 2021-2026

Home offices are established inside the residential premises of employees working from remote locations, without necessarily having to travel to office complexes. The furniture purchased for working long hours in home offices constitutes the very definition of home office furniture, with chairs and tables serving multiple purposes inside the residence. The comfortable seating chairs and multi-purpose desksserve as an ideal part of the home office furniture in most cases, along with several other storage equipments.

The rising consumer spending for improved comfort during extended work hours from home offices and increasing instances of remote working models in enterprises encouraging the establishment of home officesare the influential contributing factors that are influencing growth in the market prospects. Thegrowing need to ensure high levels of comfort during extended periods of office work and recreate a similar feeling of workplace setting inside a residential room are some of the other factors that would contribute towards the efforts of market growth during the forecast period. The establishment of several home offices, as corporations continue to adopt remote working models for the foreseeable future, has influenced a surge in the purchase and procurement of home office furniture. As more and more organizations witness the benefits of remote working, such as cost-saving initiatives of real estate spaces, the market is likely togrow in a steady manner. The redevelopment of office furniture for use in the home environment, with a strong focus on the multi-functionality of products, would enable robust market growth. The increasing instances of financial incentives and reimbursements by corporations towards spending on home office furniture would further bolster market growth prospects in the coming years. For example, on May 26, 2020, Alphabet Inc.-owned Google announced that it would reimburse employees up to $1,000 to pay for equipment to help them work from home. The gradual acceptance among consumers about an extended period of remote working from makeshift home offices would present crucial manufacturers with new possibilities of product sales and business expansion over the forecast period.

Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.

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Top key players @ Steelcase, Ashley Furniture Industries, Inter IKEA Group, Sears Holdings, Haworth, Herman Miller, HNI, Kimball International, Knoll, KOKUYO Furniture, Masco, Poltrona Frau, Mercury Row, Latitude Run, and Red Barrel Studio

The outbreak and spread of the Covid-19 pandemic to almost all major countries of the globe have influenced a trending surge in the procurement of office furniture for home use, as several companies adopt the path of remote working models in compliance with mandatory regulations of social distancing and limited workforce attendance in office complexes. However, suppliers face significant hurdles in the procurement of essential raw materials and primary components, which might influence a shortage in production volumes of office furniture. The limitations in workforce and staff operations inside factory premises, along with the mandatory rules of physical distancing, regular temperature checks, frequent tests, and daily sanitization initiatives, would reduce the operational excellence of manufacturing facilities. In such unprecedented times, the steady flow of product purchase from individuals working out of their residences would present an adequate avenue of a revenue stream for crucial market vendors. The continuance of private working projects for an extended period, translating into cost-saving efforts from organizations, would thereby guarantee the growth of the market for the foreseeable future.

Plastic, Wood, Metal, and Othersare considered under the Type scope of the market. The Application segment is bifurcated intoSeating, Storage, and Others.On the other hand, the Distribution Channel segment is categorized intoRetail Stores, Flagship Stores, Online Stores, and Others. The report consists of the volume of the Application and Distribution Channel segments, expressed in K Units. The Type segment is calculated in terms of overall market value.

The Online Stores segment by Distribution Channel is a lucrative prospect for potential product sales and is expected to witness robust growth rate during the forecast period. The ease of product selection amongst a range of offerings and lucrative discount deals available through a variety of easy payment options are the primary factors that would boost the growth of the segment in the coming years.

TABLE OF CONTENT:
1 Report Overview
2 Global Growth Trends
3 Market Share by Key Players
4 Breakdown Data by Type and Application
5 United States
6 Europe
7 China
8 Japan
9 Southeast Asia
10 India
11 Central & South America
12 International Players Profiles
13 Market Forecast 2019-2025
14 Analyst’s Viewpoints/Conclusions
15 Appendix

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