“The only constant in this world is change,” says Heraclitus, implying that everyone must deal with constant transformation, including the furniture industry.
How does change influence furniture? It’s because of technological advancements and the global impact of COVID-19. People are mainly staying in the comfort of their own homes, working, and relaxing. How can a house provide comfort? The answer is furniture.
These provide colour to each house in the same way that paint adds life to a sketch. We rest in a bed. We sit on a sofa and watch TV. We sit in our chairs with ease. Furniture is a giver of comfort.
But how is it evolving? This article will look at the projected dynamics in the furniture sector.
What Does Research Say?
According to Mordor Intelligence Future Market Forecast, the global furniture market is expected to grow at a compound annual growth rate (CAGR) of 5% between 2021 and 2026. This indicates that the furniture sector is anticipated to develop during the next five years.
The study highlighted numerous causes for this anticipated growth in 2021. This includes the pandemic’s impact on furniture customers’ lifestyles, demand from millennials and younger generations, an increase in Do-It-Yourself projects, and the emergence of e-commerce platforms.
Innovation in Technology Meets Furniture Industry
With the rise of social media and developments in technology, the furniture industry continues this exponential trend.
- E-Commerce as Online Furniture Stores
Companies and individuals can buy and sell goods and services over the internet, using electronic commerce or e-commerce. This elevated the industry to a whole new level by providing a one-stop shop at the click of a finger. Marketing has become more accessible in attracting clients when combined with social media.
The COVID-19 pandemic also boosted online furniture sales. Non-essential companies were shut down early in the pandemic, and many customers shopped online at places like Amazon to avoid coming into contact with COVID-19. As a result of this response, prominent furniture manufacturers established an online presence.
Research and Markets mentioned that the E-Commerce Furniture Market was valued at USD 27.74 billion in 2021 and is expected to reach USD 40.74 billion by 2030.
Can online shopping replace traditional pick-and-choose buying? Not necessarily!
While overflowing convenience is attached to the former, the physical stores are so much needed, especially since health protocols are now more open. But as the world evolves more in technology, stores need to adapt to these changes, bringing their stores online.
- CGI and Augmented Reality Level Up Furniture Shopping Experience
Forgot to measure the wall gap for your dresser? Don’t worry!
CGI and AR produce easy-access applications that allow users to place the furniture they want in the exact place. You don’t need to take out your measuring tape and rulers. You just need your phone and boom! The authentic furniture is in the right place.
In Centric Digital’s AR in Retail statistics, 60% of internet users want to shop using augmented reality in furniture. This is because it brings convenience to the shoppers without doing the actual estimations. That’s why AR purchasing is more pleasurable and engaging for 55% of customers than traditional shopping, from Aircad’s AR Market Insights.
A user can see how an item will fit in their room before purchasing. Colours and textures can be customised to complement their style. Compared to traditional brick-and-mortar businesses, AR furniture stores provide a higher level of customization.
- Smart and Eco-Friendly Furniture is the Future
The furniture industry harms the environment. My Tool Shed estimates the average piece of furniture consumes 47kg of CO2 equivalents or 5.3 gallons of gas. That’s why more manufacturers are now inclined to eco-friendly ways of making furniture.
The term “eco-friendly” refers to furniture made in a way that has a minimal environmental impact. Wood that comes from renewable sources and does not damage or harm the environment is considered environmentally friendly in this context. In addition, the least amount of resources is used, such as delivery and distance, to the greatest extent possible.
The other side of the coin introduces smart furniture. App or voice-activated furniture for the house is a relatively new development. We know Alexa or Siri, but we haven’t heard of a talking sofa or a moving refrigerator. This is the future of the furniture industry. But what is smart furniture?
According to an IEEE study, “smart” furniture has an intelligent system or can be controlled by the user’s data and energy sources.
Changing Things Up!
Moving forward in the furniture industry, it is evident that these trends will become more prominent and might be a norm in the future.
The main factor of this change is convenience, the goal of innovation. So, individuals and businesses must hop on and go with the flow of what is trending.
Here at 3D Lines, we stay ahead of the curve, creating realistic CGI images for companies around the world. We can ensure that our rendering designs suit your requirements, providing you with images for marketing purposes, before the physical versions are ready.