South Korea Smart Furniture Market Insights Forecasts to 2033

• The South Korea Smart Furniture Market Size was valued at USD 50.5 Million in 2023.
• The Market Size is Growing at a CAGR of 6.15% from 2023 to 2033
• The South Korea Smart Furniture Market Size is Expected to Reach USD 91.7 Million by 2033

The South Korea Smart Furniture Market Size is Anticipated to Exceed USD 91.7 Million by 2033, growing at a CAGR of 6.15% from 2023 to 2033.

The growing demand for space-saving & multifunctional furniture and rising disposal income are driving the growth of the smart furniture market in the South Korea.     

Market Overview

Smart furniture is the furnishings and fixtures that are created with advanced features including advanced technologies of sensors and connectivity. They are equipped with features that users adapt to various needs, often through remote control using smartphone apps, or voice-activated virtual assistants. The features such as adjustable settings, built-in charging capabilities, environmental sensors, and smart device connectivity are integrated into smart furniture. There are rapid improvements in home automation technology and technological advancement and technological advancement, smart furniture can included in the smart home ecosystem, making it adaptable and user-friendly for consumers. Smart furniture’s seamless integration with home automation systems like voice assistants and smart thermostats ensures that the user experience is streamlined with smart homes. The partnership between home automation systems and smart furniture promotes energy efficiency and an increasingly important trend of eco-friendly living. Smart furniture is available with more eco-friendly living, fashionable, and user-friendly solutions to the changing homeowner’s needs.

Report Coverage

This research report categorizes the market for the South Korea smart furniture market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea smart furniture market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea smart furniture market.

Driving Factors

The growing urbanization and changing lifestyle with compact and versatile furniture surge the demand for space-saving and multi-functional furniture that leads to drive the market. The high disposable income per capita and the investment in smart furniture solutions for enhanced comfort, convenience, and efficiency are propelling the market demand.   

Restraining Factors

The expensive advanced and smart features raise the cost of smart furniture which may lead to hamper the market growth.

Market Segmentation

The South Korea Smart Furniture Market share is classified into product and application.

• The smart desks segment dominates the market with the largest market share in 2023.

The South Korea smart furniture market is segmented by product into smart desks, smart tables, smart chairs, and others. Among these, the smart desks segment dominates the market with the largest market share in 2023. There is a strong expansion in the development and renovation of commercial and office buildings due to furnishing new office space. The increasing urbanization and trend towards collaboration-oriented workspace design drive the market.  

• The commercial segment accounted for the largest share of the South Korea smart furniture market in 2023.       

Based on the application, the South Korea smart furniture market is divided into residential and commercial. Among these, the commercial segment accounted for the largest share of the South Korea smart furniture market in 2023. Smart furniture including modern design features is needed at new workspaces in commercial buildings and office construction. The rising demand for furniture in the commercial segment drives market growth.             

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea smart furniture market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Inter IKEA Systems BV
• Herman Miller, Inc.
• Sobro
• Steelcase, Inc.
• Modoola Limited
• Hi-Interiors SRL
• Sleep Number Corporation
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the South Korea Smart Furniture Market based on the below-mentioned segments:

South Korea Smart Furniture Market, By Product

• Smart Desks
• Smart Tables
• Smart Chairs
• Others

South Korea Smart Furniture Market, By Application

• Residential
• Commercial