Home Office Furniture - Americas

Americas

In the Americas, specifically in the United States, the Home Office Furniture market is projected to generate revenue of US$22.45bn in 2024.
This market is expected to experience an annual growth rate of 3.73% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States stands out as the top revenue generator, with expected earnings of US$18,920m in 2024.
To put this into perspective, in 2024, per person revenues of 0.00 are projected in the Americas.
The demand for ergonomic home office furniture in the United States has surged due to the increase in remote work.

Key regions: Germany, Brazil, United Kingdom, Denmark, China

Market

Region

Region comparison

Currency

Analyst Opinion

The Home Office Furniture market in Americas is experiencing significant growth and development due to changing customer preferences and trends in the market.

Customer preferences: Customers in the Americas are increasingly seeking home office furniture that is both functional and aesthetically pleasing. With the rise of remote work and the need for comfortable and productive workspaces at home, customers are looking for furniture pieces that can seamlessly blend into their existing home decor. Additionally, customers are prioritizing ergonomic designs that promote comfort and reduce the risk of health issues associated with long hours of sitting.

Trends in the market: One of the key trends in the Home Office Furniture market in the Americas is the increasing demand for multipurpose furniture. Customers are looking for versatile pieces that can serve multiple functions, such as desks that can also be used as storage units or bookshelves that can double as room dividers. This trend is driven by the limited space available in many homes, as well as the desire for furniture that can adapt to changing needs. Another trend in the market is the growing popularity of eco-friendly and sustainable home office furniture. Customers are becoming more conscious of the environmental impact of their purchases and are seeking furniture made from sustainable materials and manufactured using eco-friendly processes. This trend is driven by a combination of factors, including increased awareness of climate change and a desire to support companies that prioritize sustainability.

Local special circumstances: In the Americas, the home office furniture market is influenced by cultural and regional preferences. For example, in North America, there is a strong demand for modern and minimalist designs, while in Latin America, customers often prefer furniture with more ornate and traditional styles. Additionally, the availability of space and the size of homes can vary across different countries, which affects the types of furniture that customers are looking for.

Underlying macroeconomic factors: The growth of the Home Office Furniture market in the Americas is also supported by underlying macroeconomic factors. The increasing adoption of remote work and flexible work arrangements, accelerated by the COVID-19 pandemic, has created a higher demand for home office furniture. Additionally, the rising number of startups and small businesses in the region has contributed to the growth of the market, as entrepreneurs and freelancers often require home office furniture to set up their workspaces. In conclusion, the Home Office Furniture market in the Americas is developing due to changing customer preferences for functional and aesthetically pleasing furniture, as well as trends such as the demand for multipurpose and eco-friendly designs. Local special circumstances, such as cultural preferences and variations in available space, also shape the market. The underlying macroeconomic factors, including the increase in remote work and the growth of startups, further drive the development of the market.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.