Industry: ICT & Media | Publish Date: 20-Feb-2024 | No of Pages: 101 | No. of Tables: 71 | No. of Figures: 36 | Format: PDF | Report Code : N/A
Nigeria Smart Furniture Market size was valued at USD 13.9 million in 2023, and is expected to reach USD 23.9 million by 2030, with a CAGR of 8.0% from 2024 to 2030. Smart furniture refers to modern furnishings and fixtures designed with embedded technology, sensors, and connectivity features that enhance their functionality, convenience, and usability. These pieces of furniture are equipped with the ability to interact with users and adapt to various needs, often through remote control, via smartphone apps, or voice-activated virtual assistants. Smart furniture improves comfort, efficiency, and user experience in living, working, or recreational spaces by integrating elements such as adjustable settings, built-in charging capabilities, environmental sensors, and connectivity with other smart devices.
The surge in environmental consciousness has propelled the smart furniture market toward a dual commitment to energy efficiency and sustainability. Manufacturers are incorporating energy-efficient features including LED lighting systems and smart sensors that optimize power consumption based on occupancy, aligning with the global push for reduced energy use. Simultaneously, there is a significant emphasis on the materials used in production, with a growing preference for sustainable options such as recycled or responsibly sourced materials.
The increasing disposable income per capita is a significant driver behind the growth of the smart furniture market. As individuals have more disposable income, they are increasingly inclined to invest in smart furniture solutions that offer enhanced comfort, convenience, and efficiency in their homes. The expanding affordability and purchasing power fueled by rising incomes are consequently propelling the demand for smart furniture, boosting the market growth.
Integrating advanced technology and smart features into smart furniture tends to be more expensive. This cost can be a real obstacle for many potential buyers, especially those mindful of their budgets. It acts as a barrier that prevents the smart furniture market from expanding, particularly in the segments of the population that prioritize affordability.
The rapid advancements in home automation technology are expected to create ample opportunities for the smart furniture industry in the future. This technological progress allows for the integration of smart furniture into the broader smart home ecosystem, making it user-friendly and versatile for consumers of various technical backgrounds. The seamless integration of smart furniture with existing home automation systems, such as voice assistants and smart thermostats, ensures the streamlining of the user experience and enhances the appeal of smart homes.
Additionally, ongoing collaboration between smart furniture and home automation systems contributes to energy efficiency, aligning with the increasingly important trend of eco-friendly living. With more user-friendly, stylish, and environmentally conscious options available than before, the smart furniture industry is well-positioned to thrive as it caters to the evolving needs of homeowners.
Several market players operating in the Nigeria smart furniture market include Inter IKEA Systems BV, Herman Miller, Inc., Steelcase, Inc., Sobro, StoreBound LLC, Seebo Interactive Ltd., Milano Smart Living, Modoola Limited, Hi-Interiors SRL, and Sleep Number Corporation.
Smart Tables & Desks
Smart Stools & Benches
Smart Chairs
Smart Beds
Residential
Commercial
Online
Offline
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 13.9 Million |
Revenue Forecast in 2030 |
USD 23.9 Million |
Growth Rate |
CAGR of 8.0% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Million (USD) |
Growth Factors |
Increasing Use of Energy Efficient and Sustainable Smart Furniture Drives the Market Growth Rising Disposable Income Over the Region Further Fuels the Market Growth |
Companies Profiled |
10 |
Market Share |
Available for 10 companies |
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
Inter IKEA Systems BV
Herman Miller, Inc.
Steelcase, Inc.
Sobro
StoreBound LLC
Seebo Interactive Ltd.
Milano Smart Living
Modoola Limited
Hi-Interiors SRL
Sleep Number Corporation