- The key vendors in the folding furniture market in the US 2015-2019 are Dorel Industries Inc., Lifetime Products Inc., and Meco Corp.
London, 26 June 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the folding furniture market in the US 2015-2019. A key trend that brings about market growth is the rise in digital consumerism. Increasing penetration of wireless broadband internet, high adoption of smartphones and tablets, and the increased use of social media have provided consumers with information on the go. Consumers prefer using digital media as it offers more choices and helps to obtain detailed information about different products. The folding furniture market in the US is expected to grow at a CAGR of 6.47% during the forecast period of 2014-2019.
Increasing demand for smaller homes is a major factor that propels market growth. Growing population, rise in single-family dwellings, and booming real estate industry are some of the other factors that bring about growth in this market. In general, market growth during the forecast period will be driven by an increase in demand for space-saving, innovative furniture, and for new furniture styles and designs.
“Bookniture is a book that unfolds into the shape of furniture. It looks like a small notebook, but once opened, it unfolds into a portable side table, footrest, or standing desk. Bookniture combines traditional bookbinding with origami to create a collapsible but strong piece of furniture,” says Faisal Ghaus, Vice President of Technavio Research.
“Though Bookniture comes with a reversible felt disk for the table top, this disk cannot be folded into the book. Such furniture can be useful in small houses as it saves a lot of stacking space.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
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