Home Office Furniture - Americas | Statista Market Forecast

In the Americas, specifically United States, the Home Office Furniture market is projected to generate revenue of US$22.44bn in 2024.
This market is expected to experience an annual growth rate of 3.73% (CAGR 2024-2029).
When compared to other countries worldwide, United States stands out as the top revenue generator, with expected earnings of US$19bn in 2024.
To put this into perspective, in 2024, per person revenues of US$22.07 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.

Definition:

The Home Office Furniture segment focuses on furniture found in the home that provide a comfortable and motivating work space. The purpose of home office furniture is to ensure a good working environment similar to that of a traditional office as working from home has become more popular in recent years. This segment includes objects such as swivel seats and office tables; however, furniture such as dining tables and chairs are not included. Consumer electronics and lamps & lighting are also excluded from this segment.

Structure:

The segment is divided into two subsegments:

The Desk & Chairs subsegment covers home office furniture designed to provide comfort, functionality, and ergonomic support to enhance productivity and improve the overall working experience.
The Bookcases & Filing Cabinets subsegment covers furniture pieces designed for storage and organization of books, files, documents, and other materials. These products are available in various sizes, styles, and materials to suit different needs and preferences.

Additional Information:

The Home Office Furniture segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

Office chairs and swivel seats
Office desks and tables
Filing Cabinets and drawers
Bookcases
Office stools

Consumer electronics
Household appliances
Lamps and lighting
Dining and bar tables

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.

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories 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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

From homeware to office furniture, even expanding over to pet care, the furniture industry is all-encompassing and ever-growing. Be it homes, schools, offices, or even outdoors, furniture is what gives a room its function and purpose.