Modern Furniture Market – A special style of furniture influenced by modernism
- Modern furniture refers to a specific style of furniture that is influenced by modernism.
- The modernist movement in furniture started in the early 1900s with the Bauhaus school of design. Modern furniture designs were a revolution against the luxuriant designs that preceded them.
- Modern furniture offers various solutions such as dining, sleeping, seating, and storage functions. It plays an important role in home and office layout.
Increase in Consumer Spending on Home Improvement to Drive the Global Modern Furniture Market
- Consumers are increasingly spending on improving the interiors and exteriors of their homes, as home furnishing has become a symbol of lifestyle status. Rise in investment in landscaping is driving the modern furniture market. Decrease in urban residential space has compelled people to focus on creating patio spaces. Growth in disposable income of the people and recovery of the residential housing sector are key factors anticipated to boost the global modern furniture market during the forecast period.
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Asia Pacific to Hold a Leading Share of Global Modern Furniture Market
- Geographically, the global Modern Furniture market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the Modern Furniture market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the Modern Furniture market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America Modern Furniture market is segmented into Brazil, and Rest of South America.
- Asia Pacific is dominating the market share due to improving lifestyle and increasing disposable income are highly contributing the market share of modern furniture.
- Also, Europe is anticipated to grow at a fastest CAGR growth rate during the forecast period. Rising demand of modern furniture is projected to drive product innovation in the region.
Key Players Operating in the Modern Furniture Market:
The Modern Furniture market is competitive with several global and regional players. Major players are adopting various strategies, such as regional expansion and product portfolio expansion to enhance their position in the market.
Companies are focusing on increasing the product portfolio. For instance, Fermob, manufactures colorful outdoor furniture and accessories for residential and commercial spaces.
The modern furniture market is fragmented owing to the presence of few global and several domestic players. Most of the vendors sell and promote their furniture products via their own online sales website and some through e-tailor websites. A few of the key players operating in the global Modern Furniture market are:
- Ashley Home Stores, Ltd.
- Barlow Tyrie Ltd.
- TRIBÙ NV
- Modern Lighting (Lumens Light + Living)
- Williams-Sonoma Inc., by Inmod, Room & Board
- Crate and Barrel
- Flexform SpA
- B&B Italia Spa.
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Global Modern Furniture Market: Research Scope
Global Modern Furniture Market, by Product Type
Global Modern Furniture Market, by Material
Global Modern Furniture Market, by Area
Global Modern Furniture Market, by End-user
Global Modern Furniture Market, by Distribution Channel
- E-tailer Websites
- Company Websites
- Furniture Stores
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.