This market research report includes a detailed segmentation of the global luxury massage chair market by end-user type (residential and commercial) and types of distribution channels (monobrands, online retail, and others). It outlines the market shares for key regions such as Europe, North America, APAC, and ROW. The key vendors analyzed in this report are Family Inada, Fujiyorki, Osaki Massage Chair, and Panasonic.
Technavio’s market research analysts estimate the global luxury massage chair market to grow at a CAGR of almost 6% between 2016 and 2020. The increase in the working population, decrease in leisure time, and prevalence of an on the go lifestyle are some of the factors that are propelling the growth of the market. At present, Europe dominates the global luxury massage chair market, accounting for almost 43% of the overall market share. The increase in the number of commercial and office-spaces and the up-trend in tourism are expected to contribute to the growth of the market in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the luxury massage chair segment by end-users.
“The trend of online shopping has a positive influence on the global luxury massage chair market. The number of retailers and mass brands that are adopting omnichannels or channel agnostic distribution strategies to keep pace with consumer expectations is witnessing a steady increase. Retailers are also developing compelling online services to enhance the value proposition for customers,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
The residential segment dominated the global luxury massage chair market in 2015 with a market share of around 60%. Factors such as a rise in the number of households, urbanization, the rise in disposable income, and new product launches with innovative designs are the primary drivers for the global residential luxury massage chair market. The increasing preference for massage chairs over massage therapies and spa visits and the online presence of vendors are expected to boost the growth of this segment over the next four years.
The key vendors in the global luxury massage chair market are Family Inada, Fujiyorki, Osaki Massage Chair, and Panasonic. The vendors in the market compete on the basis of price, quality, innovation, service, reputation, distribution, and promotion. The high vendor competition has led to an increased number of mergers and acquisitions, wherein smaller entities are being acquired by or are being merged with, major players.
A more detailed analysis is available on the Technavio report, Global Luxury Massage Chair Market 2016-2020.
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