Contract Furniture and Furnishing Market Research Study by Porter’s Five Forces Analysis with CAGR of 5.03% & Forecast to 2023
The Contract Furniture and Furnishing Market in Europe, Asia Pacific, North America, Middle East, and Africa, Latin America and China appear to be highly fragmented due to the presence of several international, regional, and local vendors. Contract Furniture and Furnishing providers compete intensely in terms of price, quality, regulatory compliance, and innovation. To attain a competitive advantage over the other players, the vendors are focusing on technological innovations and RandD investments. The high growth potential of the market encourages the entry of several start-ups and adoption of inorganic strategies and this will, in turn, impact the performance of the vendors in the Consumer Durables and Apparel,Household Durables,Home Furnishings Sector.
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Contract Furniture and Furnishing Market in Europe: About this market
Contract furniture is purchased under a written agreement, involving furniture manufacturers and end-users. Researchers contract furniture and furnishing market analysis considers sales from hospitality and food services, offices and home offices, retail stores, institutions and others. Our analysis also considers the sales of contract furniture and furnishing in Germany, France, the UK, and rest of Europe. In 2018, the hospitality and food services segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growth of different sectors under the hospitality and food services industries will play a significant role in the hospitality and food services segment to maintain its market position. Also, our global contract furniture and furnishing market report also looks at factors such as declining preference for buying new furniture, growing number of office spaces, growing demand for modern furniture in educational institutions. However, fluctuating labor cost and raw material prices and high transportation cost and freight loss, may hamper the growth of the contract furniture and furnishing industry over the forecast period.
Contract Furniture and FurnishingMarket 2019 Trend, Challengeand Driver: –
Contract Furniture and Furnishing Market in Europe: Overview
- Growing demand for modern furniture in educational institutions
- Educational institutions such as schools, colleges, and universities are some of the major end-user of furniture and furnishing products. Educational institutions have limited financial budgets, which makes it a tough task for them to evolve frequently with modern furniture and furnishing products. Therefore, they prefer contract furniture and furnishing solutions over buying brand new furniture. In addition, the growing economy and increased focus on aesthetics have fueled the demand for modern furniture in schools across Europe. This demand for modern furniture is expected to grow rapidly due to the growing number of international schools with aesthetically-appealing learning centers. This will lead to the expansion of the global contract furniture and furnishing market at a CAGR of almost 6% during the forecast period.
- Increased introduction of smart furniture
- The concept of monitoring and controlling the furniture and furnishing products with smart devices is gaining popularity among end-users. Smart furniture offers the convenience of remote location operability through wireless technology operated by the use of the appropriate application on their smart devices. This development is expected to have a positive impact on the overall market growth.
- For the detailed list of factors that will drive the contract furniture and furnishing market in Europe during the forecast period 2019-2023, click here.
- With the presence of several major players, the global contract furniture and furnishing market in Europe market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading contract furniture and furnishing manufacturers, that include Haworth Inc., Herman Miller Inc., Kinnarps AB, Knoll Inc., and Steelcase Inc.
- Also, the contract furniture and furnishing market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
- North America(UnitedStates, Canada, andMexico)
- Europe(Germany, France, UK, Russia, andItaly)
- Asia-Pacific(China, Japan, Korea, India, andSoutheast Asia)
- South America(Brazil, Argentina, Colombia)
- The MiddleEast and Africa(Saudi Arabia, UAE, Egypt, Nigeria, andSouth Africa)
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List Of Key vendorsoperating in 2019 Contract Furniture and Furnishing market space are
Haworth Inc., Herman Miller Inc., Kinnarps AB, Knoll Inc., and Steelcase Inc.
Consumer Landscape: –
The key to any successful business is understanding the new demands of the customers and keeping a close watch on the changing model of the client base. The more you engage with your client base, the clearer you are about the most productive ways in which to hook your ideal customer. Predicting what your customers want, even before they themselves know about it, is the first step to profitable innovation.
This Contract Furniture and Furnishing market 2019 research is a result of: –
- Qualitative analysis: -Contract Furniture and Furnishing Market drivers, 2019 Market challenges, Market trends, Five forces analysis.
- Quantitative analysis: -Contract Furniture and Furnishing Market size and forecast, 2019 Market segmentation, Geographical insights, Competitive landscape.
- Primary research: – Contract Furniture and Furnishing Industry journals and periodicals, Government bodies, Annual reports of key stakeholders.
- Secondary research: -Contract Furniture and Furnishing Manufacturers/suppliers, Channel partners, Industry experts, Strategic decision makers.
- Data synthesis:- Collation of data, Estimation of key figures, Analysis of derived insights.
- Data validation:- Triangulation with data models, Reference against proprietary, databases, Corroboration with industry experts.
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Table of Contents included in Contract Furniture and Furnishing Market 2019 Report –
PART 01: Executive summary
PART 02: Scope of the report
- Market overview
- Base year
- Forecast period
- Market coverage
- Market size calculation
- Geographical segmentation
- Vendor segmentation
PART 03: Research Methodology
- Research methodology
- Economic indicators
PART 04: Introduction
- Key market highlights
PART 05: Market landscape
PART 06: Market segmentation by end-user industry
PART 07: Market segmentation by application
PART 08: Geographical Segmentation
PART 09: A Decision framework
PART 10: Impact of drivers and challengesAnd Many More Parts Covered.
Name: Mr. Ajay More
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Organization: 360 Market Updates
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